College Ave - Reviewed & Compared

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. Information advertised valid as of 10/08/2024. 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.

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.

Summary

College Ave is a private lender that provides a variety of student loans tailored to undergraduate, graduate, career training, and parent borrowers. Known for its competitive interest rates¹ and flexible repayment terms³, College Ave simplifies the borrowing process with an easy online application and quick approval times.

MORE: Find The Right Student Loan For You

Company Overview

Founded in 2014 by former Sallie Mae executives, College Ave is an online-focused student loan provider based in Wilmington, Delaware. The company has quickly gained a reputation for offering user-friendly services and competitive loan products. College Ave partners with Firstrust Bank, ensuring that all loans are backed by a reliable financial institution. The lender is accredited by the Better Business Bureau and operates in all 50 states.

What They Do Best

College Ave excels in providing a seamless and efficient loan application process. The company offers a range of loan products, including undergraduate, graduate, career training, and parent loans, with flexible repayment options³ that cater to different financial needs. College Ave's online tools, such as loan calculators and educational resources, help borrowers make informed decisions. The lender's quick approval times and no-fee structure further enhance its appeal.

Negatives

One potential downside to College Ave is its limited support for non-degree programs, which may exclude some career training or certificate programs. Additionally, while College Ave offers competitive rates¹, these are highly dependent on the borrower's creditworthiness, which may not be favorable for those with lower credit scores.

MORE: Find The Right Student Loan For You

Qualifications

To qualify for a College Ave loan, borrowers must be U.S. citizens or international students with a U.S. co-signer, attend an eligible school, and meet credit and income requirements. The typical credit score for approved borrowers is in the mid-600s, and most loans require a co-signer.

Our Final Verdict: 9.9/10

College Ave is a strong contender in the private student loan market, offering competitive rates¹, flexible repayment options³, and a straightforward application process. Its no-fee policy and quick approval times make it an attractive choice for students and parents alike.

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FAST FACTS
  • APR starting at 3.59%¹
  • Cover up to 100% of school cost & other school-related expenses²
  • Pre-qualify with a soft credit check (no impact on score)
  • No application, origination, or prepayment fees³
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