College Ave is a student loan lender that offers some of the best rates for private student loans and student loan refinancing.
Student loans are a necessity for many students seeking higher education. the The high cost of higher education It led to more than a million students graduating in debt. The clock starts ticking for these graduates as soon as they step on stage. They need to find gainful employment before you start making your monthly student loan payments or else they will face paying off your loan without a job.
Sometimes this can be difficult and payments can become a monthly burden. College Ave Student Loans is a company founded in 2015 by former Sallie Mae executives for the purpose of creating a better loan process. One specific goal is to help students save money on student loan payments by refinancing existing loans.
College Ave is also one of our top private student loan lenders. See how College Ave compares here.
College Ave Student Loans is on a reliable refinancing platform. You can quickly compare and see if they are the best in 2 minutes or less. Let’s dive into our College Ave student loan review.
- One of the best private student loan lenders
- Great prices and flexible terms
- Refinance loan limits range from $150,000 to $300,000
Student loans on college street
College Ave Student Loans offer competitive rates and some of the most flexible repayment options you’ll find. Here’s a closer look at the terms and benefits.
Prices and terms
College Ave offers fixed and variable rates on all private student loan products. Currently, her University loans Offering the lowest initial interest rates. Variable rates, in particular, have the potential to be more affordable, with a low end of the spectrum of around 1%.
- Variable annual interest rate: 3.89% – 17.99%
- Fixed annual interest rate: 2.74% – 17.99%
You will have the option to repay your private student loan in 5, 8, 10, or 15 years. The minimum loan amount is $1,000 and College Ave will cover up to 100% of the cost of attendance.
Main College Street Postgraduate loans and MBA Loans Both offer the same repayment terms as undergraduate loans. However, they come with slightly higher interest rates. Here are the current APR ranges:
- Variable annual interest rate: 4.85% – 16.33%
- Fixed annual interest rate: 3.72% – 16.33%
Finally, College Street offers Medical, dental, and law school loans. These are the only private loans offered by College Ave that can be repaid in 20 years. Here are their current rates:
- Variable annual interest rate: 4.76% – 16.315
- Fixed annual interest rate: 3.67% – 16.31%
College Ave Student Loan | |
Even the cost of attendance | |
5, 8, 10, 15, and 20 years | |
Loan repayment options
College Ave offers a wide range of repayment options that allow you to customize the loan experience that works for you. Here are the options you have to choose from:
- Pay the loan principal and interest in full
- Interest payments only
- Fixed payments of $25
- Deferred payments
The grace period for College Ave student loans is 6 months for undergraduate loans and 9 months for most graduate loan programs. Notably, College Ave also offers… Complete deferral during medical and dental residency.
Medical College Loans College Ave. Screenshot by College Investor
How Do College Ave Student Loans Compare?
College Ave is always near the top of the pool of private student loan lenders. They have flexibility for in-school repayment and even full deferral during residency. But that doesn’t necessarily mean they will be right for you. Check out this quick comparison here:
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Closest Cosigner Issue eligibility | In the middle of your repayment period | ||
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Refinance a college-age student loan
College Ave Refinance is not just a consolidator. When you consolidate, you can take several existing loans and combine them into one loan to get lower monthly payments and, in some cases, lower interest rates. However, with College Ave, you can refinance one loan to get better terms or lower rates.
Prices and terms
With College Ave, you can refinance a loan of up to $5,000. The maximum loan amount for the vast majority of degree programs is $150,000. But if you have a doctorate in medicine, dentistry, pharmacy, or veterinary medicine, you can refinance up to $300,000.
These low minimums and high maximums are what put College Ave on our list of the best places to refinance your student loans. Borrowers can choose from 16 different repayment terms, ranging from 5 to 20 years.
College Street Refinancing Options. Screenshot by College Investor
Although this isn’t quite the level of customization that Earnest offers, it’s still one of the most flexible refinancing programs in the industry. Here are the current variable and fixed interest rates for College Ave refinance loans:
- Variable annual interest rate: 7.99% – 14.09%
- Fixed annual interest rate: 7.99% – 14.09%
Remember, before you look at any rates, be sure to compare College Ave with other lenders. Use reasonable, You can compare up to 8 lenders to make sure you get the best possible rate, including College Ave. Additionally, College Investor readers can earn a bonus of up to $1,000 when they refinance with Credible. Check it here.
College Ave. Student Loan Refinancing Details | |
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Student Loan Refinancing College Ave | |
$150,000 or $300,000 (depending on grade) | |
How Does a College Ave Student Loan Refinance Compare?
The College Ave student loan refinancing product offers 16 different repayment terms and high loan limits. But you’ll still want quotes from a few additional lenders. Watch this comparison here:
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Up to $1000 (via Reliable) | |||
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Who is eligible to apply?
College Ave offers instant pre-qualification status and interest rate ranges. If you decide to go ahead with the full loan application, the process will be streamlined and simple as well.
Before applying, keep in mind the typical eligibility requirements you need to meet to qualify for a loan. To get in-school student loans, you must be at least 18 years old, a U.S. citizen or permanent resident and attending an accredited school. Any student, regardless of enrollment status, can apply for loans. But you will need to be enrolled at least half-time to qualify for in-school deferment.
To refinance, College Ave has graduation requirements. However, it is more flexible than other lenders because it does not require a bachelor’s degree. This may make it a great option for borrowers who discontinued their education after earning an associate’s degree.
Are there any fees?
As a low-fee provider, you don’t have to worry about origination fees, origination fees, or prepayment penalties with College Ave. If payment is more than 15 days late, a late fee of 5% or $25 (whichever is less) will be assessed.
communication
Unlike many lenders, College Ave self-services its loans. So, if you have any questions about your bills or payments, you can simply contact our customer support team.
To speak to someone by phone, call 844-803-0736 from 8 a.m. to p.m. (Eastern time), Monday through Friday. College Ave also offers live chat and SMS support at 855-910-0510 and email support at [email protected].
Is it safe and secure?
The College uses Secure Socket Layer (SSL) technology to secure its website and the information it collects. It also gives customers several options to control the use of their personal data. You can request disclosure of your data here and delete your data here. To do “Do Not Sell My Information”, Fill out this form.
Why should you trust us?
I’m America’s Student Loan Debt Expert™ and have been actively writing about and covering student loans since 2009. The team and I here at The College Investor have been actively tracking student loan providers since 2015 and have reviewed, tested, and followed almost every provider and lender in the industry.
Furthermore, our compliance team reviews the prices and terms contained in this list every day of the week for accuracy. This way you can make sure you’re looking for an accurate and up-to-date price when you comparison shop.
Who is this for and is it worth it?
The College Ave Student Loan offers some in-school products and a viable refinancing option. The company is a strong lender that recently began offering fixed- and variable-rate student loans.
Make sure you compare it using credibility with other lenders before making a decision. Don’t forget, College Investor readers get up to a $1,000 bonus when they refinance with Credible. Check it here.
Be sure to check out our student loan refinancing tool to compare all the different student loan lenders.
Frequently asked questions
Let’s answer some frequently asked questions about College Ave.
Are College Ave Student Loans Legit?
Yes, College Ave is a real lender that has been offering private student loans and student loan refinancing since 2015. It offers some of the most flexible repayment terms on the market and says 99% of borrowers make payments on time.
Is College Ave a federal student loan?
No, College Ave only offers private student loans, which means they are not eligible for any federal income-driven repayment plans or forgiveness programs.
Does College Ave Affect Your Credit Score?
Checking your pre-qualified interest rate with College Ave will have no impact on your credit score. However, if you decide to go ahead with a full loan application and hard credit inquiry, your credit score will suffer.
Do you have to be a graduate to refinance from College Ave?
Yes, you will need to have an associate’s degree or higher to qualify for College Ave student loan refinancing.
Can you pay off your College Ave loan early?
Yes, you can pay off your loan at any time and College Ave never charges prepayment penalties.
Features
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Pre-qualified rates (soft credit check) | |
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5% of the amount due or $5 (whichever is less) | |
Yes, but it cannot be requested until half of the scheduled repayment period has passed. | |
Title IV accredited schools | |
Enrollment status (for student loans) | Full-time, half-time or less than half-time *At least half-time enrollment status is required to qualify for in-school deferment |
Graduation requirements (for refinancing) | Yes, university degree or higher |
Customer service phone number | |
Monday to Friday, 8 AM to PM (Eastern Time) | |
Address to send payments | Student loans on college street |
