College Ave Student Loans Review: Our Top Pick for Rates and Repayment

Best Student Loans

5.0 _/5

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Private Student Loans

• Student loans for undergraduates, graduates, parents, and career training
• No minimum enrollment requirements
• Quick 3-minute online application
• Immediate credit decision
• Covers up to 100% of your cost of attendance
• Choose your repayment terms, including in-school repayment or deferred
• Multi-Year Peace of Mind® lets you receive future loans at better approval odds
• Can apply for an additional 6-month grace period
• Offers student credit card for credit building

• Majority of applicants need a cosigner
• Cosigner release isn’t available until at least halfway through repayment

Rates (APR)	3.87% – 17.99%1
Loan amounts	$1,000 – 100% of certified costs
Repayment terms	5, 8, 10, or 15 years

Refinance Student Loans

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• Choose your repayment term
• Check your rate without affecting your credit score

• Cosigner release isn’t available until you are at least halfway through your repayment term
• Unclear repayment assistance details

Rates (APR)	6.99% – 13.99%1
Loan amounts	$5,000 – $300,000
Repayment terms	5 – 20 years

Table of Contents

1. College Ave private student loans
2. College Ave’s refinance student loan
3. College Ave customer reviews and reputation
4. How to contact College Ave
5. College Ave FAQ
6. How we rated College Ave student loans

College Ave private student loans

Best Student Loans

5.0 _/5

View Rates

Private Student Loans

• Student loans for undergraduates, graduates, parents, and career training
• No minimum enrollment requirements
• Quick 3-minute online application
• Immediate credit decision
• Covers up to 100% of your cost of attendance
• Choose your repayment terms, including in-school repayment or deferred
• Multi-Year Peace of Mind® lets you receive future loans at better approval odds
• Can apply for an additional 6-month grace period
• Offers student credit card for credit building

• Majority of applicants need a cosigner
• Cosigner release isn’t available until at least halfway through repayment

Rates (APR)	3.87% – 17.99%1
Loan amounts	$1,000 – 100% of certified costs
Repayment terms	5, 8, 10, or 15 years

Rates and terms

Understanding the terms of your loan is one of the biggest hurdles of taking out a student loan in the first place. The good news is, this is one area College Ave excels.

Here’s a closer look a College Ave’s student loan details.

Term	Details
Fixed rates (APR)	4.39% – 16.49%
Variable rates (APR)	5.59% – 16.85%
Rate discounts	0.25% for automatic payments
Loan amounts	$1,000 – 100% of costs
Repayment terms	5, 8, 10, or 15 years
Grace period	6 months (apply for additional 6 months)
Cosigner release	24 on-time payments & half repayment met
Fees	Late payment

Loan types

Type of loan	Rates (APR)
Undergraduate	4.07% – 16.69%
Graduate	4.07% – 14.49%
Career-training	4.07% – 16.69%
Parent	4.07% – 16.69%

Ambition Student Mastercard®

College Ave launched the Ambition Student Mastercard® in 2023 to help students build credit responsibly while in school. The card requires no credit check to qualify and charges no interest or late fees. Students earn cash back on all purchases and benefit from built-in fraud protection. It’s designed to make everyday spending—from textbooks to takeout—a step toward a stronger financial future.

Scholarships and sweepstakes

In addition to student loans, College Ave runs frequent scholarship giveaways and sweepstakes that offer students the chance to win money for college. These promotions are easy to enter and provide real financial relief, helping students lower their out-of-pocket costs without borrowing.

What are the eligibility requirements?

While College Ave doesn’t disclose specific eligibility requirements, such as a minimum credit score or income threshold, the lender reports most undergraduate borrowers need a cosigner. This helps applicants with limited credit histories qualify and potentially access better rates.

The prequalification tool allows you to check potential rates and eligibility with no impact on your credit score. This feature is especially useful for those who want to explore loan options before committing to a full application.

Requirement	Details
Citizenship	U.S. citizen or permanent resident (international w/ cosigner)
State of residence	50 states
Minimum age	16
Enrollment status	No minimum
Minimum credit score	Mid-600s
Minimum income	$35,000

How does repayment work?

When applying for a loan with College Ave, you’ll choose a repayment term of five, eight, 10, or 15 years. You’ll also select one of four in-school payment options.

Terms	Details
Repayment options	In-school (full, interest-only, $25 flat) or deferred
Repayment terms	5, 8, 10, or 15 years
Grace period	6 – 36 months, depending on the type of loan
Cosigner release?	Yes

Making payments while in school can reduce the overall cost of the loan by lowering the total amount of interest you pay. Choosing a shorter repayment term will also reduce your total interest cost.

Repayment examples

Imagine you have a $10,000 loan with a fixed 5% APR. You can see how the repayment option and term you choose affect the amount you pay in interest.

	5-year term (total interest cost)	15-year term (total interest cost)
Principal + interest	$1,322.60	$4,235.40
Interest-only	$1,500.04	$4,704.44
Flat $25	$1,748.20	$5,728.00
Deferment	$2,748.20	$8,728.00

Using that same example, here’s how the monthly payment could vary based on your choice of repayment term and in-school repayment option:

	5-year term (monthly payment)	15-year term (monthly payment)
Principal + interest	$188.71	$79.08
Interest-only	$41.67 in school, then $212.13	$41.67 in school, then $82.47
Flat $25	$25 in school, then $212.47	$25 in school, then $82.57
Deferment	$0 in school, then $213.89	$0 in school, then $83.29

Unlike some lenders, College Ave does not provide details on the hardship relief it offers, such as deferment or forbearance. This lack of transparency could be a potential drawback for borrowers concerned about financial struggles during the loan repayment period.

Alternatives to College Ave private student loans

College Ave excels in many aspects of student loans—from a specialty focus on student loans to high loan amounts and several repayment options—but it could still improve in some areas. Here are some alternatives to consider if a priority for you is an area where College Ave falls short.

• Cosigner release policy: College Ave has several requirements before a cosigner can be released, including being at least halfway through your repayment term. Meanwhile, Sallie Mae offers a shorter cosigner release period of 12 months. A shorter release time frame and fewer requirements can be desirable for cosigners looking to be free of obligation on the loan as soon as possible and students seeking financial freedom.
• Lack of transparency on requirements: College Ave does not disclose income and credit requirements. LendKey’s $24,000 annual income requirement is both clear and relatively accessible for borrowers. This lack of transparency can make it challenging for potential borrowers to know if they are eligible before applying.
• Unclear repayment assistance programs: Specifics of College Ave’s repayment assistance programs are not outlined, leaving borrowers in the dark about what help they could receive if they struggle with repayment. Earnest outlines its repayment assistance options clearly and provides more flexibility.

The table below highlights these alternative lenders and others with standout features. For a deeper dive, visit our best student loans page to see a full comparison.

How to apply

The College Ave application takes about three minutes to complete, followed by an immediate credit decision. A new loan application is required each year, but with Multi-Year Peace of Mind®, 95% of undergraduate borrowers are approved for additional loans with a cosigner.

Here’s what the process looks like:

1. Start the application process: The student or cosigner can initiate the application process. Once started, you’ll receive a link to invite the other person to complete their part.

2. Complete the application: The application includes providing your contact information, Social Security number, estimated annual income, school name, expected graduation date, and the amount you’d like to borrow. If you’re applying for a parent loan, you must include the student’s Social Security number as well.

3. Wait for credit decision: If you’re approved after submission, you should be able to review your terms right away. If you agree to the terms, you’ll complete the full and submit the full application.

4. School certification: Once you’re approved, College Ave sends your loan to your school for certification. The school verifies your enrollment and the loan amount based on your cost of attendance.

5. Loan disbursement: After your school certifies your loan, College Ave sends the money to your school following its disbursement schedule.

We recommend applying as soon as you have your school’s cost details for the coming term (generally no less than 30 days before payment is due). Applying for the full academic year can save time and simplify the process, and lock in your rate.

College Ave’s refinance student loan

4.2 _/5

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Refinance Student Loans

• Choose your repayment term
• Check your rate without affecting your credit score

• Cosigner release isn’t available until you are at least halfway through your repayment term
• Unclear repayment assistance details

Rates (APR)	6.99% – 13.99%1
Loan amounts	$5,000 – $300,000
Repayment terms	5 – 20 years

On the refinancing side, College Ave allows borrowers to consolidate and refinance student loans. A borrower can check their rate within a minute. 

After completing all the application steps, College Ave will pay off your existing loans in seven to 14 days. All types of student loans—federal and private—are eligible for refinancing with College Ave.

Rates and terms

College Ave’s student loan refinance lets borrowers choose between fixed or variable rates and sets the maximum refinance amount based on the borrower’s degree.

Term	Details
Fixed rates (APR)	5.99% – 11.99%
Variable rates (APR)	5.99% – 11.99%
Loan amounts	$5,000 – $300,000, depending on your degree
Repayment terms	5 – 20 years
Cosigner release?	Yes

Eligibility requirements

College Ave accepts cosigners on refinanced student loans which could help borrowers secure a lower rate and increase the chances of approval.

Requirement	Details
Citizenship	U.S. citizen or permanent reside
State of residence	All 50 states
Minimum age	18 years old
Graduation status	Graduated from an eligible school or program

Repayment

Borrowers choose a repayment term between five and 15 years, a typical range offered by student loan refinance lenders. Some of the details behind its repayment assistance programs are not clear or available on its website.

Alternatives to College Ave’s refinance student loans

College Ave could enhance its student loan refinancing in several areas:

• Cosigner release: Cosigners can’t be released until at least half of the original loan has been repaid.
• Payment assistance options: Earnest offers more assistance options than College Ave, which does not disclose specifics about its assistance programs.

To help understand how College Ave fits into the wider student loan refinancing market, here’s how to matches up with some of our top-rated student loan refinance lenders. Check out our best student loan refinance page for more details.

How to apply

Applying for a College Ave refinancing loan is a quick process. Here’s a step-by-step guide to understand the application procedure:

1. Check your rate: College Ave allows you to prequalify for a refinance loan in just one minute, which can give you a clear idea of your potential rate and terms.

2. Review your terms: If the rate and terms offered align with your needs, you can proceed to the next step.

3. Submit your application: During this stage, College Ave may request additional information to verify the details you’ve provided. The verification process can take a few days to complete.

4. Loans are paid off: After you complete all steps in the application, College Ave will send your loan payoffs around seven to 14 days later, and your current loans will be paid with your new College Ave refinance loan.

The entire process, from checking your rate to your loans being paid off, can take a couple of weeks. 

College Ave customer reviews and reputation

College Ave earns high marks from its borrowers.

To provide a fuller picture, we looked at College Ave’s customer ratings on major review platforms:

Source	Customer rating	Number of reviews
Trustpilot	4.5/5	2,067
Better Business Bureau (BBB)	3.67/5	60

On Trustpilot, customers frequently highlight the easy and fast application process. However, a few reviews mention frustrations with autopay setup and customer service responsiveness.

College Ave is a BBB-accredited business, which means it meets BBB standards for transparency and complaint resolution. Some complaints focus on payment processing issues or accounts mistakenly reported as delinquent, but overall, the convenience of the application experience continues to be a consistent positive theme.

How to contact College Ave

College Ave maintains an internal customer service team to assist borrowers with their needs. Whether it’s application help or repayment assistance, College Ave’s representatives can assist.

It partners with University Accounting Services to service loans, adding a layer of expertise to its servicing operations.

Here’s how you can reach out:

• Chat on its website
• Email using the prefilled form on College Ave’s contact page
• For assistance with applications, call 844-422-7502 Monday to Friday, 9 a.m. to 10 p.m. Eastern, and on Saturday from 9 a.m. to 3 p.m.
• For servicing or repayment help, visit Collegeaveservicing.com, download the mobile app, or call 844-803-0736 from Monday to Friday, 9 a.m. to 9 p.m. Eastern.
• Mail payments to: College Ave Student Loans, c/o University Accounting Services, P.O. BOX 5863, Carol Stream, IL 60197-5863

College Ave FAQ

Does College Ave offer private or federal student loans?

College Ave offers private student loans. It doesn’t offer federal student loans, which are loans funded by the federal government. Private loans can supplement federal aid when it falls short.

What can College Ave student loans be used for?

Funds from College Ave student loans can be used for educational expenses. This includes tuition, books, supplies, housing, meals, and other school-related costs. 

It’s crucial to note that the funds are disbursed to your school first to cover tuition and other fees, and your school sends any remaining money to you for other expenses.

How long does it take to receive funds from College Ave?

The timeline to receive funds from College Ave can vary. Once your loan is approved and certified by your school, College Ave sends the funds to your school according to its disbursement schedule. 

The entire process can take as few as 10 business days but may be longer depending on your school’s timeline.

Is College Ave responsible for paying off my current student loans?

If you’re refinancing with College Ave, it will pay off your current student loans. After your refinanced loan is approved and all required steps are completed, College Ave sends your loan payoffs seven to 14 days later. 

It becomes your responsibility to repay the new, refinanced loan to College Ave.

Can College Ave student loans be forgiven?

Unlike some federal student loans, College Ave private student loans are not eligible for loan forgiveness programs. Repayment remains the borrower’s responsibility for the life of the loan. 

How we rated College Ave student loans

We designed LendEDU’s editorial rating system to help consumers identify companies that offer the best financial products. Our experts spend hours researching these companies each year to ensure our ratings are fresh and accurate.

Our most recent evaluation compared College Ave to several lenders across a number of factors, including rates, repayment terms, customer reviews, and benefits. We weighted, scored, and combined these factors to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. We round all ratings to the nearest tenth decimal place.

Student loan	Best for	Our Rating
Private student loan	Best overall	5/5
Refinance student loan	–	4.2/5