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MOHELA is committed to providing Education Loan Finance customers a first-rate customer experience.

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  • Tax Information

    Tax information is available.  Login to your account, or create an online account to access a downloadable 1098E.

  • Coronavirus Situation

    The health and well-being of our customers, staff, and our community are a top concern during the emerging Coronavirus (COVID-19) situation. MOHELA is committed to keeping our customers informed should any interruption in services occur. Customer service updates will be posted here.

    President Biden recently announced that student loan payments will continue to be paused and interest will continue to be waived for all student loans held by Federal Government Agencies. Unfortunately, this payment suspension and interest waiver does not apply to ELFI private educational loans because they are not held by a Federal Government Agency.

    If you are experiencing difficulty making your payments due to the Coronavirus situation contact us to discuss forbearance options available to temporarily postpone your monthly payment.

  • LIBOR Rate

    For borrowers who started an application with ELFI prior to 7:00pm EST, 1/7/2022, your loan is based on the Three-Month LIBOR, which is currently 4.73%, Jan. 1, 2023.  With any change to the LIBOR rate, variable rate loans will re-amortize, and a repayment schedule will be provided that will include your new monthly payment amount, interest rate (LIBOR plus or minus a margin) and the effective date of your new monthly payment amount.

  • PRIME Rate

    For borrowers who started an application with ELFI after 7:00pm EST, 1/7/2022, your loan is based on the PRIME rate, which is currently 7.75%, effective Mar. 2023.  With any change to the PRIME rate, variable rate loans will re-amortize, and a repayment schedule will be provided that will include your new monthly payment amount, interest rate (PRIME plus or minus a margin) and the effective date of your new monthly payment amount.


  • Public Service Loan Forgiveness

    Public Service Loan Forgiveness is not available on private student loans.  Important Notice: The recent federal student loan announcement regarding one-time student loan cancellation is applicable to federal student loans only and does not include private student loans. 

    Please note, private student loans are not eligible for a refund of payments made during the Covid-19 Forbearance.

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Repayment Assistance

A short-term forbearance may be available if you are experiencing unexpected financial hardship, which may include but is not limited to: illness, unplanned job loss or reduction in monthly income, or if your residential or place of business ZIP code is declared as an Individual Assistance zone by FEMA due to a natural disaster. Additional eligibility criteria and requirements may apply. To determine if you qualify, please call.

Important Information: All Repayment Options are approved at the discretion of the lender. An approval or denial notification will be provided by MOHELA. For approved Repayment Options, unpaid accrued interest may be capitalized at the end of any Repayment Option.

Cosigner Release

The Bank does not offer a cosigner release program. You may apply for a new ReFi loan without a cosigner at elfi.com.

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NMLS Resource Center NMLS # 1442770
"Copyright © 2023 Higher Education Loan Authority of the State of Missouri(MOHELA). All Rights Reserved."
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Attention Massachusetts Borrowers



If you are struggling with your student loans, please fill out this form to get help from the Ombudsman’s Student Loan Assistance Unit.


State of Massachusetts- Ombudsman’s Student Loan Assistance Unit
(888) 830-6277