College Ave student loans reviews consistently highlight the lender’s user-friendly application process, flexible repayment options, and strong customer service. With an average customer rating of around 4.6 out of 5, College Ave has become a go-to source for private student loans and refinancing across all 50 states.
Founded in 2014, the company partners with M.Y. Safra Bank, Firstrust Bank, and First Citizens Community Bank. It offers a variety of loan options for undergraduate and graduate students, parents, and borrowers seeking to refinance existing education loans.
College Ave partners with Credible, which is one of our featured providers of the best private student loans and student loan refinancing.
Student Loans
Pros
Associate’s degree and career loans available
0.25% autopay discount available
Multiyear approvals available
Multiple loan term options
Pre-qualifying won’t affect credit score
Cons
Potentially high interest rate
Higher than average credit score required for approval
Vague about approval requirements
A degree is a requirement for refinancing
Features and Benefits of College Ave Student Loan Products
College Ave offers private student loans, parent loans, and refinancing, all with competitive rates and a range of repayment options. Borrowers will experience no application or origination fees, flexible loan terms, and the ability to pre-qualify with a soft credit inquiry.
- Loan terms: 5, 8, 10, 15, or 20 years for students
- Parent loan terms: 5 to 15 years
- Refinance terms: 5 to 20 years
- Loan amounts: $1,000 up to the full cost of attendance
- Minimum refinance amount: $5,000
- Autopay discount: 0.25% auto pay interest rate reduction
- Late payment fees: $25 or 5% of the payment, whichever is less, after 15 days
- Cosigner release: Available after 50% of the required monthly payments are made
How College Ave Student Loans Work
College Ave provides funding for students enrolled at least half-time in eligible undergraduate, graduate, or career programs. Its student loan products include customizable terms, four repayment options, and the ability to defer payments during school.
Borrowers can choose from four repayment options:
- Immediate repayment: Begin full principal and interest payments right after disbursement.
- Interest-only repayment: Pay interest only while in school, then full payments after graduation.
- Fixed repayment: Make small, fixed monthly payments (usually $25) during school.
- Deferred repayment: No payments while in school; full repayment begins after the grace period.
Graduate students may qualify for up to 48 months of deferment to accommodate internships or residencies.
College Ave private student loans are available on Credible’s website. Read the Credible review.
Qualification Requirements
College Ave doesn’t publish its eligibility guidelines, but most approved borrowers meet these minimums:
- U.S. citizen or permanent resident
- Enrolled at least half-time in an eligible school
- Credit score around 680 or higher
- Minimum annual income of $35,000
- No recent bankruptcies on credit history
- For refinancing, borrowers must have completed a degree
Many students will require a cosigner to qualify for the best rates, especially those with limited credit history.
Related Article: Can I Refinance My Private Student Loan?
Student Loan Refinancing Through College Ave
Refinancing with College Ave can help borrowers consolidate high-interest student loans into one loan with better terms. The company allows you to pre-qualify with a soft credit pull and offers generous limits based on degree type.
- Minimum refinance amount: $5,000
- Max refinance: Bachelor’s degrees: $150,000 – Graduate degrees: $300,000
- Interest rates: Fixed and variable available with 0.25% autopay discount
- Loan terms: 5 to 20 years
Check your refinancing rate through Credible
Parent Loan Repayment Options
Unlike student loans, parent loans have three repayment structures:
- Interest-only: Pay only the interest while the student is in school.
- Interest plus: Add an extra payment toward principal each month.
- Immediate full repayment: Begin full principal and interest payments right away.
Customer Reviews and Ratings
Trusted Company Reviews Rating Score for College Ave Student Loans: 9.4
College Ave student loans reviews are largely positive across major platforms. The lender holds a 4.4 out of 5-star rating on Trustpilot, with 85% of reviewers giving it four or five stars.
Customers regularly mention:
- Excellent customer service
- Easy-to-navigate website
- Fast and transparent application process
- Clear communication about repayment options
Negative reviews typically center around high variable interest rates, especially for borrowers with lower credit scores.
Frequently Asked Questions
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Source
Image Source: collegeave.com
Disclosure
We do not allow ads for personal loans with an APR of 36% and above in the US.
Deane Biermeier
