College Ave vs. Sallie Mae Student Loan Comparison
College Ave offers private student loans and student loan refinancing, while Sallie Mae only offers private student loans. While both are great options, the best for you will depend on your situation.

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When you’re taking out private student loans, you have many lenders to choose from. Student loan options can vary a lot among lenders, so always compare rates, loan options, and repayment options to find the best financial aid for your situation.
College Ave and Sallie Mae are two popular private student loan lenders. This comparison will help you decide which of these two is best for you.
In this comparison:
- College Ave vs. Sallie Mae Overview
- What Loans Does Each Lender Offer?
- Sallie Mae vs. College Ave: Which Is Right for You?
College Ave vs. Sallie Mae Overview
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Interest rates | 1.49% – 12.99% | 1.50% – 11.85% |
Loan amounts | $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 – 15 years |
Best for | Best overall | Flexible repayment |
What Loans Does Each Lender Offer?
Both College Ave and Sallie Mae are well-known student loan lenders with a strong reputation for offering education financing to creditworthy borrowers. Both offer a wide variety of loans, so qualified applicants have a good chance to find a fitting loan with either lender.
Each lender’s loan options are listed below. You can learn more about them in our full Sallie Mae student loan review and our full College Ave student loan review.
College Ave Student Loan Options
- Undergrad student loans
- Graduate student loans
- Parent Loans
- Career training loans
- Law school loans
- Dental school loans
- Medical school loans
- MBA loans
- Refinance loans
Sallie Mae Student Loan Options
- Undergrad student loans
- Graduate student loans
- Parent student loans
- Career training loans
- Law school loans
- Bar study loans
- Health professional student loans
- Medical school loans
- Dental school loans
- MBA student loans
Sallie Mae vs. College Ave: Which Is Right for You?
The table above shows how Sallie Mae and College Ave compare in the most important areas, but sometimes it can be difficult to see where one lender is better than the other.
Here are a few scenarios where one lender may make more sense for you.
- If you want a little more time before repayment
- If you want a reward for completing your degree
- If you want the shortest possible period for cosigner release
- If you want a fast and easy application process
- If you want to refinance existing educational debt
- If you want free educational assistance
If you want a little more time before repayment: College Ave
Both lenders offer an option for deferment of payments while you’re in school and a six-month grace period in which you don’t have to make payments once you graduate or leave school.
College Ave, however, allows borrowers to apply for an additional six months of grace period if you need a little more time.
Just be aware that interest will continue to accrue during periods of deferment with both lenders.
If you want a reward for completing your degree: College Ave
College Ave offers eligible borrowers a $150 reward for completing their degree when they take out the Career Loan. The reward is applied directly to your principal balance.
For many borrowers, this may be the equivalent of a monthly payment or more, which can be a nice way to get ahead of student loan repayment.
Just remember, this reward is only available for borrower who take out a Career Loan.
If you want the shortest possible period for cosigner release: Sallie Mae
You may require a cosigner with good credit to help you get the loan amount you need with competitive rates. Cosigner release allows a cosigner to be absolved of the legal responsibility for loan repayment when the primary borrower has proved to be able to repay on their own.
Sallie Mae allows cosigner release after 12 months of on-time payments. College Ave makes cosigner release an option only after half the repayment period has lapsed.
If you want a fast and easy application process: College Ave
College Ave’s application only takes three minutes to complete, helping you figure out if you are eligible and what your rate will be quickly and easily.
If you value a quick and easy application, College Ave is likely a better choice for you.
If you want to refinance existing educational debt: College Ave
College Ave offers student loan refinance loans, and Sallie Mae does not. Refinancing your student loans can help you lower the interest rate and monthly payment on existing debt, making the repayment process cheaper and easier for the remaining life of the loan.
If you want free educational assistance: Sallie Mae
Sallie Mae offers undergraduate borrowers four months of access to free Chegg (valued at $100). College Ave doesn’t provide a comparable benefit.
Chegg Study offers discounted textbooks, solutions to homework problems, free flashcards, and support from skilled tutors available 24/7.
Bottom Line: Sallie Mae vs. College Ave
College Ave’s student loans have more flexibility in repayment, a faster application process, and typically lower rates than Sallie Mae’s student loans, making them a better option for most students. If you value a short cosigner release period or free access to Chegg, then Sallie Mae may be a better choice.
Sallie Mae vs. Other Lenders
Make sure you exhaust your options for federal student loans before looking at private lenders. Federal loans could save you money and give you more flexible repayment, such as income-driven repayment plans and student loan forgiveness, in the future.
However, if your cost of attendance is above what you can receive in federal student aid, private loans could fill in the gaps.
Compare several lenders to find the lowest rates and repayment terms that make up the best student loan for you. You can see our top picks for private student loans on our Best Private Student Loans page.
In addition, College Ave isn’t your only alternative to Sallie Mae for private loans for school. See how Sallie Mae stacks up against other private student loan lenders in our Sallie Mae vs. Discover review and our Sallie Mae vs. Wells Fargo comparison.
Ready to take out a student loan? College Ave is our highest-rated lender
Fixed Rates
4.39% – 11.98% (APR)
Variable Rates
1.79% – 10.97% (APR)
Loan Amounts
$1,000 – 100% of school-certified cost of attendance
Author: Christy Rakoczy
