College Ave Student Loans Review
College Ave offers both private student loans and student loan refinancing. The lender has a wide variety of loan options and offers competitive rates and benefits.

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Key Points
- College Ave’s student loans were rated as the #1 best private student loan by LendEDU’s Editorial Team
- There is a cosigner release period of 24 months, which is common amongst private lenders
- You can find out the rate you would qualify for with a soft credit pull
Founded in 2014 by former executives of Sallie Mae, College Ave is a student loan lender based out of Wilmington, Delaware. The company offers undergraduate, graduate, and parent loans for prospective students, as well as a student loan refinancing option.
Whether you need some extra help paying for college or are simply looking to save on your current student loans, College Ave is a reputable lender worth considering.
In this review:
College Ave Student Loans
College Ave Student Loan
What we like:
Short and easy application
Fixed Rates | 4.72% – 12.94% |
Variable Rates | 3.96% – 11.98% |
Loan Terms | 5, 8, 10, or 15 years |
Loan Amounts | $1,000 – Cost of attendance |
As mentioned earlier, College Ave currently offers multiple student loans that serve different purposes. There are loans for the following levels of schooling: undergraduate programs, graduate programs, dental school, law school, medical school, MBA programs, career training programs, and parents of students.
Undergraduate | Graduate | Parent | |
Fixed Interest Rate | 4.72% – 12.94% | 5.97% – 11.68% | 5.96% – 12.27% |
Variable Interest Rate | 3.96% – 11.98% | 5.22% – 10.92% | 5.23%– 11.76% |
Loan Amounts | $1,000 – 100% of school-certified cost of attendance | $1,000 – 100% of school-certified cost of attendance | $1,000 – 100% of school-certified cost of attendance |
Term Lengths | 5, 8, 10, or 15 years | 5, 8, 10, or 15 years | 5 – 15 years |
In-School Repayment Options | Full principal & interest, Interest only, Flat payment, Defer to after graduation | Full principal & interest, Interest only, Flat payment, Defer to after graduation | Full principal & interest, Interest only, Flat payment, Defer to after graduation |
Fees | None | None | None |
Apply | Check Rates | Check Rates | Check Rates |
Pros and Cons of College Ave Student Loans
Pros
- Fast and easy application process
- 0.25% interest rate discount for setting up automatic payments
- A variety of in-school repayment options that allow you to pay what fits into your budget or defer payments until after graduation
- Cosigner release is available after 24 on-time payments
- You can check your eligibility with a soft credit check that won’t impact your credit score
- You can apply to extend your grace period by an extra six months
Cons
- Forbearance is offered on a case-by-case basis
- Deferment options are somewhat limited when compared to other companies
Eligibility Requirements
To be eligible for a College Ave student loan, you need to be enrolled at an approved U.S. college or university. In addition, you must be a U.S. citizen or permanent resident, or an international student with a cosigner who is a citizen or permanent resident.
Unlike federal student loans which almost all students can be approved for, eligibility for College Ave’s student loans is based on creditworthiness. Since most students haven’t build a good credit score, most will need a qualified cosigner to help them be approved and to secure the lowest rates.
If you don’t have a good credit score or creditworthy cosigner, there are student loans without a cosigner available.
College Ave Student Loan Refinancing
What we like:
N/A
Fixed Rates | 3.25% – 7.99% |
Variable Rates | 3.38% – 8.13% |
Loan Terms | 5 – 20 years |
Loan Amounts | $5,000 – $150,0001 |
¹College Ave’s maximum loan amount is $250,000 for medical, dental, pharmacy, and veterinary degrees
College Ave offers student loan refinancing for both federal and private student loans. You can also consolidate multiple loans into one during the process. Here are the details behind the refinance product:
College Ave Refinance | |
Variable Interest Rate | 2.49% – 7.24% |
Fixed Interest Rate | 3.24% – 7.99% |
Loan Amounts | $5,000 – $300,000 |
Term Lengths | 5 – 20 years |
Fees | None |
Apply | Check Rates |
Pros and Cons
Pros
- College Ave clearly outlines the cost impact of borrowers repayment decisions on their website
- You can choose between 16 different repayment terms
- Refinance up to $300,000
- No application, origination, prepayment, or other fees
Cons
- Some other companies offer additional rate discounts on top of the automatic payment discount
Eligibility Requirements
College Ave will refinance both federal and private loans ranging from $5,000 to $300,000, depending on your degree.
In order to be eligible for refinancing with College Ave, you will need a good credit score and repayment history. However, the company doesn’t display a minimum credit score on its website.
Alternatives to College Ave Student Loans
Before choosing any lender, it’s best to do some comparison shopping across multiple loans and companies to find the right fit for your personal situation, budget, and financial goals.
When looking for a private student loan or a refinance loan, the most important thing to consider is the interest rate you are offered. The lower your rate, the cheaper your loan will be over time. A lower rate on your loan often outweighs any benefits that may come along with a loan with a higher rate.
With that being said, College Ave offers some of the lowest rates in the industry for both private student loans and refinancing. In addition, College Ave offers most of the major benefits that other lenders do and then some.
If you are still unsure if a student loan from College Ave is your best option, check out some of the resources below for more options:
- Best Private Student Loans
- Best Places to Refinance Student Loans
- Graduate Student Loans
- Parent Student Loans
- College Ave vs. Sallie Mae
Bottom Line
College Ave’s loans have competitive interest rates and no fees, putting the lender in the top tier of private student loan and refinance lenders. College Ave student loan reviews on Trustpilot are largely positive indicating students and graduates typically have a good experience with the company.
It also seems to care about customer service; all complaints made to the Better Business Bureau were answered, with all but one customer satisfied with the resolution.
Ready to apply? You can apply for a new student loan to pay for college here or you can apply to refinance here.
5.0 College Ave Student Loans*See important College Ave disclosures
Author: Dave Rathmanner
