Find the Best Student Loans for You
College Ave has student loan options for all levels of postsecondary education, including career programs and refinancing.
- Graduate (including MBA, law, dental, medical and other health professions).
- Parent loans.
- Career programs.
- Student loan refinancing.
College Ave offers student, parent and career loans. Students must be enrolled in a degree program and attend classes at an eligible school. Career loans cover programs like those offered at community colleges.
College Ave requires a credit score in the mid-600s, and up to a 90% debt-to-income ratio is accepted, though it can vary based on other application criteria. Applicants should generally demonstrate several years of credit history with multiple positive accounts.
Co-signers are accepted. Potential student loan borrowers can check for preapproval, and instant loan decisions are available after you complete the application online. College Ave does not take applications by phone, but you can call customer service for help filling out the online form.
College Ave recommends applying for your student loan at least 30 days before school starts, and it will then work directly with your school to certify the loan.
College Ave offers fixed- and variable-rate student loans from $1,000 up to the student’s school-certified cost of attendance (which includes things like tuition, fees, books, housing and other college-related expenses). Terms are five to 15 years. There is no application or origination fee. The late fee is $25 or 5% of the unpaid amount of the monthly payment, whichever is less.
Parent loans offer an option to get up to $2,500 of the loan delivered to them to pay for expenses like books, supplies and other fees.
Undergraduate loans: Annual percentage rates range from 0.94% to 13.95%.
Graduate loans: 1.99% to 11.98%
Parent loans: 1.04% to 12.99%
Refinance: 3.44% to 9.99%
All rates are based on creditworthiness and include an autopay discount. If you qualify for the lowest rate, you must choose the shortest available loan term and make full principal and interest payments.
College Ave offers a 0.25-percentage-point rate reduction if you sign up for autopay.
College Ave rewards students for completing their studies. For example, the Success Rewards program tied to the Career Loan gives borrowers who complete their programs of study $150 cash back, applied as a statement credit to the loan principal.
To be eligible, undergraduates must be a U.S. citizen or permanent resident enrolled half-time or more at an accredited institution. International students are also eligible as long as they have a Social Security number and a qualified co-signer.
All students must meet satisfactory academic progress as defined by their schools.
Yearly loan limits are up to 100% of the school-certified cost of attendance, and lifetime limits are based on a borrower’s chosen degree and creditworthiness.
College Ave Student Loans requires a FICO score in the mid-600s for approval. Up to a 90% debt-to-income ratio is accepted, though it can vary based on other application criteria. Applicants should generally demonstrate several years of credit history with multiple positive accounts.
College Ave offers undergraduate, graduate and parent loans to borrowers in all 50 states.
College Ave has been accredited by the Better Business Bureau since 2015 and has an A+ rating. It rates 2.6 out of 5 stars on Trustpilot.
The Consumer Financial Protection Bureau received six complaints about College Ave Student Loans in 2020, with most about dealing with the lender or servicer. College Ave responded to each complaint in a timely manner and closed each with an explanation.
In U.S. News’ ratings of student loan lenders, College Ave received 4.7 out of 5 stars overall, 4.8 for affordability, 4.6 for eligibility and 4.5 for customer service. The median overall rating for student loan lenders by U.S. News is 4.3. Just for student loan refinancing, College Ave received 4.4 overall.
For help applying for a student loan, reach customer service by calling 844-422-7502 from 9 a.m. to 8 p.m. Eastern Time Monday through Friday.
For help servicing or repaying a loan, call 844-803-0736 from 8 a.m. to 8 p.m. ET Monday through Friday.
College Ave offers additional ways to get in touch with a customer service representative:
- Send a text to 855-910-0510.
- Send an email directly from its website.
Borrowers can complete a loan application online and often get a decision within minutes. Payments can also be made online, as well as connecting with a customer service representative via a chat feature.
You can defer full principal and interest payments as long as you are enrolled at an accredited school for at least half-time. Undergraduate borrowers will begin making payments six months after graduation or if enrollment drops to less than half-time. Repayment options include:
- Full principal and interest payments while in school.
- Interest-only payments while in school.
- Flat $25 monthly payments while in school.
- Deferred payment with no in-school payments required.
College Ave Student Loans does not disclose policies for deferment or forbearance due to financial hardship, but it will make considerations for borrowers having difficulty making payments.
Parents can set their own monthly payment while a child is in school, so long as interest charges are covered each month. The full principal and interest payment option results in a higher monthly payment but a lower cost over the life of the loan. Deferment with no in-school payments required is not available for parent loans.
College Ave will forgive student loans if the borrower dies or suffers a permanent disability.
A co-signer release is available after more than half of the scheduled repayment period has elapsed and if the following requirements are met:
- The last 24 payments were made on time and included no forbearance.
- The borrower’s income over the last two years is more than twice what’s left to pay on all College Ave loans.
- The borrower’s credit report shows no late payments in the last two years.
- Borrowers who want loan payment flexibility while in school.
- Students who want to use a co-signer to qualify.