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Pros and cons
College Ave Undergraduate Study Loans
Regular annual interest rate
Variable: 1.04% – 11.98%, Fixed: 3.34% – 12.99%
College Ave offers competitive fixed and variable annual interest rates on undergraduate student loans and does not charge any issuance or prepayment fees. In addition, you can choose from a variety of terms of imprisonment, including five, eight, 10 and 15 year periods.
You will be charged late fees at College Ave and credit checks are required to qualify for a loan.
College Ave Graduate Study Loans
College Aveloans for graduate students are not as good as loans for undergraduate students because the lender has an average annual interest rate compared to competitors and does not provide any fringe benefits. On the positive side, the company offers many deadlines and does not require fees for issuing documents or prepayments.
How College Ave Student Loans Work
College Ave offers student loans for various types of degrees, including undergraduate, graduate, vocational training, dentistry, law, MBA, and medical majors.
To get a loan, you must meet the following requirements:
- Be a US citizen or permanent resident or international student with a Social Security number and an eligible applicant.
- Be enrolled in a school awarding an advanced degree, part-time or more
- Achieve satisfactory academic performance as defined by your school
- Pass a credit check
You should think about yours federal student loan options before applying for private student loan, including one from College Ave, as you can usually get better terms and protection through the government.
You can apply for a loan in just three minutes and you will need to provide the following information:
- Date of Birth
- Family income
- School attendance and your tuition fees
- Expected graduation date
- The value of the loan
There are several options for contacting College Ave support. You can call the company from 9:00 am to 10:00 pm ET Monday through Friday or Saturday from 9:00 am to 3:00 pm ET. You also have the option to send a text message to the lender. College Ave also has a live chat feature on its website where you can write to a representative. Alternatively, you can email the company.
What are my College Ave student loan repayment options?
You have four options for paying off your student loan after you have taken it out: deferral, flat rate, interest rate, and full repayment. Each option has its own advantages for different types of borrowers.
Is College Ave credible?
College Ave a company accredited by the Better Business Bureau and having A + in reliability from BBB. The BBB evaluates reliability by looking at companies’ responses to consumer complaints, honesty in advertising, and clarity about business practices.
However, you don’t necessarily have a good relationship with College Ave just because the business has a top-notch BBB rating. You should talk to your friends and family, ask them about their experiences with the lender, and read customer reviews online.
College Ave hasn’t been causing any public controversy lately, so you might decide it’s convenient for you to take a student loan from a company.
Comparison of College Ave student loans with similar lenders
College Ave’s rates are lower than those of comparable lenders, although rates depend on your credit standing and other financial factors. Here’s how College Ave compares to the competition:
College Ave review and Sally Mae review
If you have good credit, you will probably get a better annual interest rate with College Ave than with Sally Maeas College Ave has a lower minimum rate.
Neither company will charge any loan origination fees or prepayment penalties, but you will pay 5% on late payment, up to $ 25, with both lenders.
College Ave will tell you your rate and tell you if you approved the loan through a soft credit check, which will not affect your credit score. In the case of Sallie Mae, the lender will conduct a serious loan inquiry to determine your eligibility for a loan, which could negatively affect your credit rating.
College Ave Review and Discover Review
College Ave has a lower minimum annual income of up to Discoverand both have the same maximum annual rates. College Ave may be the best choice if you have an excellent credit history.
Discover only has one standard term available for undergraduate student loans, 15 years, while you can choose from five, eight, 10, or 15 years with College Ave.