College Ave vs. Sallie Mae: College Ave Wins With Low Rates and Flexible Repayment Options

College Ave vs. Sallie Mae is a common decision among students looking to cover college costs due to both lenders’ popularity. When choosing between the two, College Ave is our top choice, offering lower rates, flexible repayment, and a fast application. Meanwhile, Sallie Mae’s biggest advantage is its quick cosigner release.

Here’s a closer look at how they compare.

	5 View Rates	4.8 View Rates
Rates (APR)	4.39% – 16.85%	4.50% – 16.70%
Rates (APR)	Rates (APR)
4.39% – 16.85%	4.50% – 16.70%
Loan amounts	$1,000 – 100% of cost	$1,000 – 100% of cost
Loan amounts	Loan amounts
$1,000 – 100% of cost	$1,000 – 100% of cost
Repayment terms	5 – 15 years	10 – 15 years
Repayment terms	Repayment terms
5 – 15 years	10 – 15 years
Repayment plans	4	3
Repayment plans	Repayment plans
4	3
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Table of Contents

1. What is College Ave, and is it a good student loan?
2. Is Sallie Mae a good student loan option?
3. Is College Ave or Sallie Mae better?
4. Sallie Mae vs. College Ave interest rates, terms, and more
5. College Ave vs. Sallie Mae loan types
6. Sallie Mae vs. College Ave minimum credit score and other requirements
7. Customer reviews on College Ave vs. Sallie Mae
8. College Ave student loans vs. Sallie Mae student loans: Our final choice

What is College Ave, and is it a good student loan?

College Ave is a private student loan lender that has been around since 2014. It’s quickly become a favorite among students and parents alike. Its mission has always been straightforward: make student loans simpler and more personal. And in many ways, it delivers.

Whether you’re an undergrad, grad student, parent, or someone pursuing career training, College Ave has loan options that can fit your needs. It even offers student loan refinancing, which is something not all private lenders do.

So is it a good student loan? In our view, yes—especially if you value flexible repayment options, a fast and easy application process, and the ability to customize your loan term. College Ave is one of the few private lenders that lets you choose your repayment term and how you make payments while in school, which can help you save money in the long run. It’s one of the reasons we rate it so highly in our student loan comparisons.

Read More

Our full review of College Ave student loans and refinancing

Is Sallie Mae a good student loan option?

Sallie Mae is one of the most recognizable names in student lending—and with good reason. It’s been around since 1972, originally as a federal lender, but it shifted to the private sector in 2004. Today, it offers private student loans designed to help students and families cover the cost of college and other education goals.

You can get a Sallie Mae loan whether you’re an undergraduate, grad student, or enrolled in a career training program. However, one major drawback: Sallie Mae doesn’t offer student loan refinancing. So if you’re thinking long-term about managing or reducing your student loan interest, you’ll need to look elsewhere for that option.

Still, Sallie Mae has a few standout features—most notably, its fast-track cosigner release. That’s a big plus if you have someone helping you qualify for the loan but don’t want them tied to it for years. Overall, Sallie Mae can be a solid choice, especially for students applying with a cosigner.

Read More

Our full review of Sallie Mae student loans

Is College Ave or Sallie Mae better?

Before we dive into all the fine print—like rate ranges and repayment terms—let’s cut to the chase. You likely have specific goals or circumstances in mind, and the truth is that one of these lenders may be a better fit for your situation than the other.

So we’re starting with a quick scenario-based comparison meant to help you identify which lender aligns with your needs. Here’s how College Ave and Sallie Mae stack up in common situations:

If you …	Consider …
Are under the age of 18	College Ave
Require a cosigner	Sallie Mae
Are a parent	College Ave
Want repayment flexibility	College Ave
Want more choice in your loan term	College Ave
Qualify for the lowest rates	College Ave
Want to refinance with the same lender	College Ave

You’re under 18

Winner

College Ave

Most students are at least 18 when they head off to college—but not everyone. Some states have a higher age of majority (like 19 or even 21), which can make getting a loan tricky if you’re not quite there yet. Sallie Mae requires you to be the age of majority in your state, which could be a dealbreaker. College Ave, on the other hand, lets students apply as young as 16 (with a qualifying cosigner), making it more accessible.

You require a cosigner

Winner

Sallie Mae

Let’s be real: Most undergrads will need a cosigner to qualify for a private student loan. That’s true with both lenders. But when it comes to letting your cosigner off the hook? Sallie Mae makes it easier. You can apply to release your cosigner after just 12 months of on-time principal-and-interest payments, assuming you meet the credit criteria.

College Ave’s policy isn’t as generous. Cosigners have to stay on the loan until halfway through the repayment term. That could mean five years or more before they’re eligible for release, depending on your loan.

You’re a parent

Winner

College Ave

If you’re a parent looking to take out a loan in your own name to help your child pay for school, College Ave is the clear choice. It offers a dedicated parent loan that makes you, not your student, fully responsible for repayment.

Sallie Mae, by contrast, doesn’t offer a parent-specific loan. If you want to help your child, you’d need to cosign a student loan in their name—meaning they remain on the hook, and you’re only sharing responsibility. That works for some families, but if you want to take the financial burden off your child entirely, College Ave is the better option.

You want repayment flexibility

Winner

College Ave

This is where College Ave stands out. It gives you four in-school repayment options: deferred, interest-only, fixed payments, or even full principal plus interest while you’re still in school. That last one is rare and powerful. Making full payments while in school could save you a substantial amount in interest over the life of your loan.

Sallie Mae? You’ll only get three options: deferred, interest-only, or fixed payments. No full repayment option while you’re in school.

You want more choice in your loan term

Winner

College Ave

Another big plus for College Ave: You can pick your repayment term. Want to be aggressive and finish in five years? Go for it. Need to stretch it to 15 years for a more manageable payment? That’s also fine. Sallie Mae doesn’t give you that same control: Its terms are preset at 10 to 15 years, with less customization.

You qualify for the lowest possible interest rate

Winner

College Ave

If you’re in a position to qualify for the lowest rates any lender offers—usually because you have excellent credit or a very strong cosigner—College Ave is your best bet. Its starting rates are slightly lower than Sallie Mae’s for both fixed and variable loans. That small difference might not seem like much upfront, but over the life of a loan, even a 0.25% rate reduction can save you plenty in interest.

You want to refinance a student loan

Winner

College Ave

Sallie Mae doesn’t offer student loan refinancing, period. College Ave does—and its refi loans are available to both students and parents. So if there’s a chance you’ll want to refinance with the same lender (whether for a lower rate or simpler payments), stick with College Ave.

Sallie Mae vs. College Ave interest rates, terms, and more

Here is a more detailed look at College Ave and Sallie Mae’s rates, terms, and fees.

	College Ave	Sallie Mae
Fixed rates (APR)	4.39% – 16.49%	4.50% – 15.49%
Variable rates (APR)	5.59% – 16.85%	6.37% – 16.70%
Loan amounts	$1,000 – 100% of cost	$1,000 – 100% cost
Term length	5 – 15 years	10 – 15 years
Fees	Late payment	Late payment

College Ave vs. Sallie Mae loan types

If you’re looking for a side-by-side breakdown, here’s how College Ave and Sallie Mae compare on the numbers. While the differences aren’t huge, a few details—like repayment terms and starting interest rates—can affect your overall cost.

College Ave	Sallie Mae
Undergraduate loans	Undergraduate loans
Graduate loans	Graduate loans
Health professions loans	Health professions loans
Career loans	Career-training student loans
Law school & bar study loans	Law school & bar study loans
MBA loans	MBA loans
Medical school & residency loans	Medical school & residency loans
Dental school loans	Dental school & residency loans
Parent loans
Refinance loans

While both lenders cover similar ground, College Ave edges ahead in areas like repayment flexibility and interest rate range, especially if you qualify for the lowest rates. Sallie Mae, however, may be the better fit for borrowers focused on quicker cosigner release and a longer institutional track record.

Sallie Mae vs. College Ave minimum credit score and other requirements

Eligibility criteria	College Ave	Sallie Mae
Min. credit score	Mid-600s	Mid-600s
Min. income	$35,000	None
Age	16 or older	State age of majority (18 in most states)
Citizenship	Social Security number or U.S. citizen or permanent resident cosigner	Social Security number or U.S. citizen or permanent resident cosigner
Enrollment	Eligible school	Eligible school
App. time	3 min.	10 min.

When comparing Sallie Mae and College Ave student loans, both lenders have similar eligibility requirements, but they differ in age requirements, application speed, and the likelihood of needing a cosigner. Here’s a quick breakdown to help you decide which might be the right choice for your needs.

In addition, you’re more likely to get approved for a Sallie Mae student loan without a cosigner: 97% of undergraduate borrowers approved by College Ave had a cosigner versus 87% by Sallie Mae.

Customer reviews on College Ave vs. Sallie Mae

Customer reviews tend to favor College Ave over Sallie Mae on respected review platforms such as Trustpilot, Google, and Better Business Bureau (BBB).

Review source	College Ave	Sallie Mae
Trustpilot	4.5/5 (1,801 reviews)	1.4/5 (52 reviews)
Google	3.1/5 (166 reviews)	1.5/5 (120 reviews)
Better Business Bureau (BBB)	3.63/5 (54 reviews)	1.09/5 (138 reviews)

Customer reviews reference a pleasant application process and attentive customer service. Negative reviews College Ave receives are addressed with a direct response to customers to contact them for resolution where possible. 

Sallie Mae’s customer reviews, on the other hand, include unaddressed complaints about the lender’s customer service and reluctance to offer assistance for financial hardship or technical difficulties.

Here’s a closer look at some of those scenarios that can affect your decision.

College Ave student loans vs. Sallie Mae student loans: Our final choice

Overall, we recommend College Ave. Not only are its interest rates lower than Sallie Mae, but this lender offers more flexibility for borrowers. College Ave also has a simpler application process backed by supportive customer service. 

Both lenders are clear about seeking private student loans to supplement other financial assistance. You must explore other options, such as grants, scholarships, interest-free student loans, and federal student loans, before applying for a private student loan with College Ave, Sallie Mae, or any other private lender. 

Also, remember: Private student loans may have advantages, but you will lose out on benefits you’re entitled to with a federal student loan. For example, there is no opportunity for loan forgiveness with private student loans, unlike with federal student loans.

How we rated College Ave and Sallie Mae

We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared College Ave and Sallie Mae to several student loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take on each company is represented in our ratings and best-for designations, recapped below.