Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Student Loans College Ave vs. SoFi: Who Offers Better Student Loans? Updated Mar 27, 2025 11-min read Written by Melody Stampley, CEPF® Written by Melody Stampley, CEPF® Expertise: Writing, editing, budgeting, credit, loans, mortgages, auto insurance, giving, saving Learn more about Melody Stampley, CEPF® 5.0 View Rates 4.7 View Rates Fixed APR 4.07% – 16.49% 4.44% – 14.88% w/ autopay Fixed APR Fixed APR 4.07% – 16.49% 4.44% – 14.88% w/ autopay Variable APR 5.59% – 16.85% 5.99% – 14.88% w/ autopay Variable APR Variable APR 5.59% – 16.85% 5.99% – 14.88% w/ autopay Loan amounts $1,000 – 100% of certified costs $1,000 – 100% of certified costs Loan amounts Loan amounts $1,000 – 100% of certified costs $1,000 – 100% of certified costs Repayment terms 5, 8, 10, or 15 years 5, 7, 10, or 15 years Repayment terms Repayment terms 5, 8, 10, or 15 years 5, 7, 10, or 15 years See the best private student loans. For those seeking private student loans, College Ave provides better loan and repayment terms, but we recommend SoFi because it offers excellent member benefits. SoFi offers superior student loan refinancing rates and terms, less strict eligibility requirements, and excellent member benefits, but we think College Ave provides better refinancing repayment terms. About College Ave and SoFi private student loans If you’re exploring options for private student loans or refinancing student debt, College Ave and SoFi are worth considering. Both companies offer tailored solutions that cater to various needs, but each has unique features. College Ave specializes in providing flexible private student loans with a range of repayment options and competitive interest rates. It’s known for its user-friendly application process and personalized loan terms, making it a strong choice for those seeking custom solutions for their education financing needs. College Ave also offers student loan refinancing, allowing borrowers to potentially lower their interest rates and simplify their payments. SoFi is renowned for its comprehensive financial services beyond student loans. It offers both private student loans and refinancing with competitive rates and provides exclusive discounts, financial planning, and more. For those who want a holistic approach to their financial future, SoFi’s blend of loan options and extra benefits might be appealing. Table of Contents Skip to Section College Ave vs. SoFi private student loansSoFi vs. College Ave student loan refinancing Which lender has better rates and terms? If you’re considering a private student loan from College Ave or SoFi, it’s important to understand the terms each lender offers. After several hours of research, we think College Ave’s private student loan terms are better than SoFi’s. College Ave stands out for three reasons: the possibility of obtaining lower rates, more repayment terms, and the ability to choose your term. College AveSoFiDiscountsAutopay: 0.25%Autopay: 0.25%FeesLate paymentNone Which lender has better repayment terms? College Ave and SoFi offer similar repayment terms on their private student loans. However, a few small differences led us to choose College Ave as the better option for repayment. The main differences are: College Ave offers the option to choose your term College Ave gives borrowers the ability to apply for an additional six-month grace period SoFi allows earlier cosigner release—after 24 consecutive on-time monthly principal and interest payments. (College Ave allows cosigner release after half of the repayment term is completed—so if you have a 10-year term, you can request cosigner release after making consecutive on-time monthly payments for five years.) College Ave SoFiRepayment terms5, 8, 10, or 15 years5, 7, 10, or 15 years4 in-school repayment options?✅✅6-month grace period?✅*✅In-school & military deferment?✅✅Forbearance available?✅✅Cosigner release?✅✅Death discharge?✅✅Disability discharge?✅✅*Option to apply for an additional six months at the end of the initial grace period Are you eligible with both lenders? College Ave and SoFi have similar eligibility requirements but differ in a few ways. College AveSoFiMin. age16State age of majority (or cosigner who is the age of majority)Academic reqs.Must meet school’s satisfactory academic progress (SAP) guidelinesNoneCitizenshipRequires international students to have a Social Security numberProof of permanent residency or valid non-permanent residency doc.Allows students earning assoc. degree?❌ (unless in final semester)❌ How are College Ave’s and SoFi’s eligibility requirements similar? Neither company discloses its minimum credit score or minimum income. Both are available in all 50 states and Washington, D.C., and both allow borrowers to view their rates with a soft credit check. SoFi and College Ave student loans are available to students enrolled at least half-time and international students with an eligible cosigner. Which lender offers better benefits? The sections above should be where you focus most of your attention when comparing these two lenders, but some borrowers may like to know what added benefits they can expect from working with each lender. Both lenders have in-house customer service teams that can assist you with setting up your loan, but that’s where College Ave’s extra benefits end and SoFi’s begin. SoFi has built a platform that aims to create a community for its members. This includes community events, such as workshops and social events. It also offers access to credentialed financial planning advice, referral discounts, and military benefits. College AveSoFiIn-house customer service team?✅✅Financial planning?❌✅Referral bonuses?❌✅Member rate discounts?❌✅Estate planning discounts?❌✅Travel discounts?❌✅Military benefits while on active duty?❌✅Community events?❌✅Members-only Facebook group?❌✅ Scenarios where College Ave or SoFi private student loans are better We know you have plenty of information to digest and compare between these two lenders, so we’ve highlighted several scenarios in which one lender might be better than the other to help you decide. ScenarioWinnerYou want to work with a lender that solely focuses on student loansCollege AveYou’re worried about missing a paymentSoFiYou value member benefitsSoFiYou want to choose your repayment termCollege Ave If you want to work with a lender that solely focuses on student loans College Ave specializes in student loans, offering a range of options tailored to student borrowers. Its expertise and focus in this area may provide a more targeted and comprehensive borrowing experience for those seeking student loan financing. Winner College Ave If you’re worried about missing a payment SoFi is flexible compared to many other lenders. It doesn’t require borrowers to pay any additional fees, including late fees. Winner SoFi If you value member benefits SoFi provides a range of member benefits beyond lending and banking. It has built a community of in-person and at-home social activities, plus several resources, including webinars, guides, and educational videos, to help you make better financial decisions and prepare for the future. Winner SoFi If you want to choose your repayment term College Ave offers borrowers the flexibility to choose from multiple repayment term options, allowing them to tailor their loan repayment plan to better suit their financial situation and goals. Winner College Ave 🧑⚖️ Final verdict: College Ave vs. SoFi for private student loans After comparing both lenders’ private student loans, we view College Ave as the best option. In an analysis of several popular student loan lenders, we found College Ave to be the best overall. College Ave stands out as the superior product because of the opportunity to earn lower rates, select your repayment term, and work with a lender that specializes in student loans. If you’re ready to check your rates with College Ave, you can visit its website to get a quote now. About College Ave and SoFi student loan refinancing 4.2 View Rates 5.0 View Rates Fixed APR 6.99% – 13.99% 5.24% – 9.99% w/ autopay Fixed APR Fixed APR 6.99% – 13.99% 5.24% – 9.99% w/ autopay Variable APR 6.99% – 13.99% 6.24% – 9.99% w/ autopay Variable APR Variable APR 6.99% – 13.99% 6.24% – 9.99% w/ autopay Loan amounts $5,000 – $300,000 $5,000 – total outstanding balance Loan amounts Loan amounts $5,000 – $300,000 $5,000 – total outstanding balance Discounts 0.25% autopay 0.25% autopay Discounts Discounts 0.25% autopay 0.25% autopay Repayment terms 5 – 20 years 5, 7, 10, 15, or 20 years Repayment terms Repayment terms 5 – 20 years 5, 7, 10, 15, or 20 years See the best student loan refinance companies. Which lender has better rates and terms? SoFi is our choice as the lender with better refinance student loan rates and terms. Although both lenders have much in common, SoFi will refinance your total loan balance, while College Ave has an upper limit. SoFi offers borrowers some of the lowest rates available when refinancing, making its rates and terms stand out. You might notice the following differences when comparing student loan refinancing options between College Ave and SoFi. College Ave SoFiFeesLate fee (after 15 days or more)NoneAllows parent loan transfers?❌✅ Which lender has better repayment terms? Both lenders have unique benefits and drawbacks. But after a lengthy review, we give College Ave a slight edge. For the average borrower, having more repayment terms to choose from gives you more control over the total cost of your loan. Plus, being able to release your cosigner is a terrific feature that can remove the financial risk they’ve taken to help you get a loan. However, if you think you may go back to school, are worried about a future disability, or are a medical or dental student who wants a reduced payment during residency, SoFi could be the better option. College AveSoFiRepayment terms5 – 20 years5, 7, 10, 15, or 20 yearsDeferment?✅ Military✅ In-school, military, & disabilityForbearance✅ Up to 12 months✅ Up to 12 monthsResidency benefit❌✅ $100 monthly paymentsCosigner release?✅❌Death discharge?✅✅Disability discharge?✅✅ Are you eligible for both lenders? Based on available information, SoFi seems to be less strict with its eligibility requirements than College Ave. College AveSoFiEligible statesAll except MaineAll International students eligible?❌✅ With eligible cosignerMust have graduated?✅ Associate degree or higher✅ Associate degree or higherSee rates with a soft credit check?✅✅ Neither lender discloses a minimum required credit score or income. Which lender offers better benefits? SoFi’s benefits, such as access to financial planning services and community events, are hard to ignore. College AveSoFiIn-house customer service team?✅✅Financial planning?❌✅Referral bonuses?❌✅Member rate discounts?❌✅Estate planning discounts?❌✅Travel discounts?❌✅Military benefits while on active duty?❌✅Community events?❌✅Members-only Facebook group?❌✅ Scenarios where College Ave or SoFi refinance student loan is better If you’re still having trouble deciding which lender is best for you, check out the scenarios below to help with your decision. ScenarioWinnerYou want to choose your repayment termCollege AveYou have a balance over $300,000SoFiYou want to transfer a parent loan to a childSoFiYou want to release your cosigner from the loanCollege AveYou value member benefitsSoFi If you want to choose your repayment term College Ave offers borrowers the flexibility to select from a wide range of repayment terms, allowing them to tailor their loan repayment plan to suit their financial goals and circumstances. Winner College Ave If you have a balance over $300,000 SoFi stands out for borrowers with loan balances of more than $300,000. You can refinance the entire amount of your original loan, providing a better solution for your specific financial needs. Winner SoFi If you want to transfer a parent loan to a child SoFi offers the unique option for parents to transfer the loan to their student and pass on financial responsibility. Winner SoFi If you want to release your cosigner from the loan College Ave allows borrowers to release their cosigner from the loan. When they can assume full responsibility, they can relieve their cosigner of any future obligation. Winner College Ave If you value member benefits SoFi’s community-building efforts for its members include in-person and at-home social activities and resources to empower them to learn the right information to help them make better financial decisions. Winner SoFi 🧑⚖️ Final verdict: College Ave vs. SoFi for student loan refinancing Considering all the information above, our choice between these two lenders for refinancing your student loans is SoFi. SoFi has competitive rates and repayment terms, fair eligibility requirements, and several additional member benefits. To check your rate with SoFi, visit its website now. Does College Ave or SoFi have better customer reviews and ratings? Customer reviews are important for providing authentic feedback based on other customers’ experiences and can tell you what to expect from a lender. If you have any questions about the loan application or funding or have issues once your loan is disbursed, you’ll need a reputable lender to assist you and provide the customer support you need. We looked at College Ave’s and SoFi’s customer reviews on third-party sites. Ratings from each source range from one to five, with one being poor and five being excellent. SourceCollege Ave ratingSoFi ratingTrustpilot4.5 (1,516 reviews)4.5 (8,669 reviews)BBB3.52 (50 reviews)1.49 (342 reviews)Google3.1 (153 reviews)2.3 (123 reviews)Reviews collected on August 19, 2024. Most customer reviews of College Ave and SoFi revolve around transparency relating to rates and eligibility requirements, communication, and customer service. College Ave and SoFi seem to leave room for improvement in resolving issues and better serving their customers. Overall, customers rate both lenders as average. However, both have far more reviews at Trustpilot than the other two sources, and they earn average customer ratings above 4.0—so keep this in mind when evaluating. How we rated College Ave and SoFi We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans and student loan refinancing. 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 SoFi to several student loan lenders and refinance companies, 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. ProductBest forOur ratingCollege Ave student loansBest overall5.0SoFi student loansMember benefits4.7College Ave student loan refinance—4.2SoFi student loan refinanceOnline lender5.0