College Ave Student Loan Review

About College Ave Student Loans

College Ave Student Loans started with a big vision and a simple mission: To help students prepare for their bright futures. Founded in 2014, College Ave provides an altogether different and uncomplicated experience for managing college finances. Many of the team members are former students and parents themselves, so they understand the stress of preparing for, paying for, and attending college. Their personal and professional experiences have equipped them with the skills to alleviate this stress. College Ave is committed to delivering practical and personal solutions that give young adults a head-start on the roads to financial success. This commitment is at the heart of their business philosophy: When it comes to college, “You’ve got this, we’ve got you!”

Types of College Ave Loans

College Ave’s loan offerings cater to a wide range of educational needs, providing flexible and comprehensive financing solutions for students and parents alike.

Private Student Loans:

• Undergraduate Loans

• • • Designed for undergraduate students to cover up to 100 percent of the school-certified cost of attendance, including tuition, fees, room and board. The application process is quick and easy, typically taking about three minutes.
    • APR Range: 3. 47 to 17.99 percent

• Parent Loans

• • • Available for parents looking to fund their child’s education. These loans offer similar terms to undergraduate loans, ensuring parents can support their child’s educational expenses without the student taking on the debt.
    • APR Range: 3.47 to 17.99 percent

• Career Loans

• • • Tailored for individuals pursuing career-focused programs or certifications. These loans provide funding for vocational or technical training programs that lead to employment opportunities.
    • APR Range: 3.47 to 15.39 percent

Graduate Student Loans:

• Dental Loans

• • • Specifically designed for students enrolled in dental school. These loans cover tuition and other associated costs, helping future dentists manage their education expenses.
    • APR Range: 3.47 to 14.47 percent

• MBA Loans

• • • Description: Intended for students pursuing a Master of Business Administration (MBA) degree. These loans cater to the financial needs of business students, covering tuition, books and other expenses.
    • APR Range: 3.47 to 14.49 percent

• Health Professions Loans

• • • For students in health-related fields other than medicine and dentistry. These loans support various health profession programs, ensuring students can focus on their studies without financial stress.
    • APR Range: 3.47 to 14.47 percent

• Law Loans

• • • Catering to law students, these loans help cover the cost of legal education, including tuition, books and living expenses, allowing future lawyers to invest in their education.
    • APR Range: 3.47 to 14.47 percent

• Medical Loans

• • • Designed for medical students, these loans provide financial support for the extensive costs associated with medical school, including tuition and other fees.
    • APR Range: 3.47 to 14.47 percent

College Ave Student Loan Refinance

College Ave also offers student loan refinancing options, allowing borrowers to consolidate existing loans into a single loan with a potentially lower interest rate. This can simplify repayment and reduce overall loan costs.

Navigating the College Ave Student Loan Process 

Follow the steps below to navigate the College Ave student loan process smoothly and efficiently.

• Begin by exploring the various loan options College Ave offers. This includes undergraduate, graduate, MBA, medical, dental and parent loans. Determine which loan type best suits your needs.
• Use College Ave’s prequalification tool to check your eligibility and potential interest rates without impacting your credit score. This helps you understand what to expect before formally applying.
• Complete the online application process, which is designed to be quick and user-friendly. You’ll need to provide personal and financial information. An instant credit decision will be provided once the application is submitted.
• If you’re approved, review the loan terms and conditions carefully. You may need to submit additional documentation for verification purposes. 
• College Ave will send the loan information to your school for certification. The school verifies the loan amount and confirms your enrollment status.
• Once the school certifies the loan, the funds are disbursed directly to the school to cover tuition and other educational expenses. Any remaining funds are typically sent to the borrower for other education-related costs.
• Choose a repayment plan that works best for your financial situation. Options may include deferred payments, interest-only payments, or full principal and interest payments while in school.
• College Ave partners with University Account Service (UAS) to service your loan. You can manage your loan, make payments and access customer support through the UAS platform.

College Ave Terms, Fees and Conditions

College Ave does not charge application, origination or prepayment fees. Borrowers can choose from various loan terms, ranging from five to 15 years, and select between fixed and variable interest rate options to best suit their financial situation and repayment capabilities.

College Ave Student Loans Credit Score Requirements

To qualify for a loan with College Ave, borrowers need a good credit score or a creditworthy co-signer. While specific credit score requirements can vary, having a higher credit score generally increases the likelihood of approval and access to lower interest rates.

College Ave Student Loans Scholarship

In addition to student loans, College Ave also provides scholarships to help students finance their education. They offer several scholarship opportunities throughout the year, providing additional financial support to eligible students.

College Ave Student Loans Customer Service

College Ave prides itself on offering comprehensive customer support. Whether via phone, text, live chat or email, College Ave provides multiple channels for borrowers to get the assistance they need.  

College Ave Student Loans Phone Number 

Call: 844-422-7502

Text: 726•227•2275

College Ave Student Loans Email

[email protected]

College Ave Student Loans Login

Borrowers can access their accounts through the College Ave Student Loans login, where they can view account information, make payments and access customer support. The portal is designed to be intuitive and user-friendly, providing a seamless customer experience.

College Ave Student Loans Payment

College Ave Student Loans offers flexible repayment options to suit different financial situations. Borrowers can choose from various repayment plans, including deferred payments, interest-only payments, flat payments and full principal and interest payments while in school. College Ave also supports multiple payment methods, such as setting up recurring payments with autopay or making individual payments through their online portal. This flexibility, combined with the option to prequalify without impacting credit scores, ensures that borrowers can find a repayment plan that fits their budget appropriately.

Competitive Comparison

Here’s a look at how College Ave stacks up against other popular picks on the market today:

Sallie Mae vs. College Ave

College Ave and Sallie Mae are both well-known in the private student loan market, each offering unique benefits to borrowers. College Ave stands out for its highly customizable repayment options, allowing borrowers to tailor their loans to fit their specific financial situations. It offers a streamlined online application process that can be completed in just three minutes, with an instant credit decision and no application or origination fees. Additionally, College Ave provides flexibility in repayment plans, such as deferred, interest-only and flat payments while in school.

On the other hand, Sallie Mae offers a wide variety of in-person customer service options through its physical branches, providing a more traditional banking experience. While Sallie Mae also offers competitive interest rates, College Ave’s ability to prequalify borrowers with a soft credit check—meaning it does not impact their credit score—makes exploring loan options easier and less stressful.

Both lenders require a good credit score or a creditworthy co-signer for the best rates. However, College Ave’s diverse range of loan terms and lack of application and origination fees can make it a compelling option for borrowers looking for flexibility and convenience.

Bottom Line: Why We Love It

We love College Ave Student Loans for their flexible and borrower-friendly approach. With competitive interest rates, no origination fees and a variety of repayment options, they make managing student debt simple and stress-free. Their user-friendly online application and the ability to prequalify without impacting your credit score truly set them apart. Plus, their strong customer service and resources ensure you have the support you need throughout your loan journey. College Ave makes financing education straightforward and accessible, which is why they’re a top choice for student loans.

Disclaimer

Disclosure:

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

1. All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
2. As certified by your school and less any other financial aid you might receive. Minimum $1,000.

3. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 02/03/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.