ELFI Student Loans vs Earnest Student Loans
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| Learn More | Learn More | |
ELFI Student Loans | Earnest Student Loans | |
|---|---|---|
Benefits and Features | ||
| Variable APR | 5.88% - 9.99% (includes 0.25% autopay discount) | |
| Fixed APR | 4.35% - 9.99% (includes 0.25% autopay discount) | |
| Maximum Amount | No maximum - depends on your eligibility | |
| Minimum Amount | ||
| Loan Term | Custom term from 5 to 20 years (180 term options) | |
| State Residency | All 50 states plus Washington D.C. and Puerto Rico | Most states with the exception of: DE, KY, and NV and no variable rate loans to residents of: AK, IL, MN, NH, OH, TN and TX |
| Degree Requirements | Bachelor's or higher from an approved post-secondary institution and program of study | |
| Income Requirements | ||
| Employment Requirements | Must be employed or have an offer for a position to start within 6 months | |
| Interest Only Payments | ||
| Origination Fees | ||
| Prepayment Penalty | ||
| Can Use a Cosigner | ||
| Can Release a Cosigner | ||
| Auto-Pay Interest Rate Reduction | ||
| Soft Credit Check | ||
| Unemployment Protection | Yes - up to 12 months forbearance | |
| Learn More | Learn More | |
ELFI: Pricing information from published website as of 3/11/2024 Earnest: Pricing information from published website as of 8/22/2025 | ||
