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Rating: 9.7 / 10 (Excellent)
8 Customer Reviews - see all comments
Disclosure: We receive advertising revenue from this partner. Learn more.
College Ave is an online marketplace offering a simplified approach to finding and securing student loans. It offers undergraduate, graduate, and parent loans as well as refinancing loans. The company was incorporated in 2014 and is headquartered in Wilmington, Delaware.
 
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How is College Ave Student Loan rated?

Breakdown

5.0/5
Loan Details
4.8/5
Eligibility Criteria
4.9/5
Customer Experience
4.8/5
Additional Benefits

Overall Rating: 4.9 / 5 (Excellent)

College Ave is a great choice for students or parents who want assistance with finding the best loan. Unlike most competitors, it offers four repayment options, with four terms that don't require a cosigner. The application process is online with a fast approval turnaround time. There is 24/7 customer service, which other competitors do not offer. College Ave offers a 6-month grace period for undergraduate loans and a 9-month grace period for graduate loans. The website does not specifically mention any forbearance program. College Ave has a solid reputation and receives an A+ rating from the BBB and 4.5 out of 5 stars on TrustPilot.

College Ave Student Loan Loan Specifics

Loan Details - 5 / 5

This company offers undergraduate, graduate, and parent loans with no associated fees or prepayment penalties. There are multiple repayment options with each loan type as well as four loan terms with fixed or variable rates. Undergraduate loan rates are shown and include the 0.25% auto-pay discount. College Ave offers a 6-month grace period for undergraduate loans and a 9-month grace period for graduate loans. We did not find any mention of a forbearance program on College Ave's website.
Loan Types
Undergraduate
Graduate
Parent
Minimum Loan Amount
$1,000
Maximum Loan Amount
Total cost of attendance for undergraduate loans. $150,000 for medical and dental school loan8
Loan Term
5, 8, 10, or 15 years for undergraduate and graduate/business school loans. 5 to 15 years for parent loans. 5, 8, 10, 15, and 20 years for medical and dental school loans.
Interest Rates
Fixed
Variable
Repayment Options
Deferred
Fixed
Immediate
Partial Interest
Cosigner Release

Fixed APR Range

Undergrad: 3.59% - 17.99% (1) Graduate: 3.59% - 14.49% (1) Parent: 3.59% - 17.99% (1)

Variable APR Range

Undergrad: 5.34% - 17.99% (1) Graduate: 5.34% - 14.49% (1) Parent: 5.34% - 17.99% (1) Medical: 5.34% - 14.47% (1) Dental: 5.34% - 14.47% (1) Law: 5.34% - 14.47% (1) Health Professions: 5.34% - 14.47% (1) MBA: 5.34% - 14.47% (1)

Disclaimer

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

College Ave Student Loan Qualifications

Eligibility Criteria - 4.8 / 5

A cosigner is not required if the applicant's income is $35,000 or more. The marketplace offers a free online pre-qualification credit check with Experian which will not impact the applicant's credit score. Borrowers must be U.S. citizens or permanent residents. Course Load was not found as a requirement on the website.
Cosigner Required
Citizenship Requirement
U.S. Citizen
Permanent Legal Resident

College Ave Student Loan Customer Experience

Customer Experience - 4.9 / 5

The marketplace offers a comprehensive student calculator per loan type as well as 24/7 customer support.
Student Loan Calculator
Reputation
24/7 Customer Support

Discounts

- 0.25% auto-pay interest rate reduction

College Ave Student Loan Company Reputation

Additional Benefits - 4.8 / 5

College Avenue has a BBB rating of "A+" with no negative reviews and a Trustpilot rating of 4.5/5 stars with 57 reviews logged.
Lender Type
Marketplace
Year Founded
2014
BBB Rating
A+
Number of BBB Positive Reviews
2
Number of BBB Negative Reviews
0
Trust Pilot Rating
7.1 out of 5
Date Collected
2022-02-02

Company's Disclosure

Rates current as of 11/1/2024. Lowest-possible rates reflect a discount for setting up auto-pay. The loan maximum for MBA, medical, dental, and law school is $150,000.

Company Profile

Full Name
College Ave Student Loans
Company Website
https://www.collegeavestudentloans.com/
Headquarters
1105 North Market Street, Wilmington, DE, 19808
Top Rated
Our Partner
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#1 Choice for Students & Co-signers

  • Rates starting at %{apr_starting_at} APR 1
  • Best option for those with cosigners and good credit
  • Enter to win a $1,000 scholarship, awarded monthly
  • Checking rates won't affect your credit score
  • Flexible options for repayment and no origination fees

View All College Ave Rates

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Latest College Ave Student Loan Reviews

E
elizabeth

12/9/2022
TOTAL SCAM! Will rip you off and keep you paying forever! Completely illegal practices.

E
elizabeth

12/9/2022
College Avenue is a ripoff company. They do not post payments correctly, leading to perpetually compounding interest, which is an illegal practice on a fixed rate loan.

A
amy

6/10/2022
How can a FULL TIME student at 20 years old be able to make 35,000 a year to apply for their own loan?

kartersworld0701

4/26/2022
No different from any other loan out there. They want a co-signer.

R
Ryan

8/19/2021
My daughter has a couple loans through them. It's so hard these days with education being way overpriced so we didn't have much of a choice. The loan process and disbursement was fine. However, be aware when it comes to payment. We decided she would pay the minimum of $25/mo on two loans while a student (so $50/mo total). My daughter, being 20 and still learning to be an adult, has been late on payment on two separate occasions. I know this because they literally have a debt collector call you at about 5 days overdue! On two separate occasions now, I have received a call from a debt collector (since I am a co-signer on the loan) saying that she is late (by 6 days once, and 8 days the other... Read More

mvj95hm

8/9/2021
So far my experience has been good with college ave customer service. My experience today with Kristina was superb. She was able to easily explain why i was receiving emails telling me that we were still waiting on the college to respond/certify our loan. She took additional steps to ensure that everything had already been certified and ensured we would not receive any additional emails. Well done Kristina and Thanks!

Jaehoon H

1/8/2019
College Avenue loan has the highest rate among several loans my daughter took out with my co-sign. Worst among what we used.

B
BF

12/3/2018
College Avenue Loans has terrible customer service! In the application process, After 3 unanswered emails, I made a verbal request to lower the borrow amount on an approved application to be told that I could cancel the current application and resubmit without being subject to a new credit report pull and that my approved loan information would be referenced. Once this was done, my interest rate went up 4%. I called again and talked to a Supervisor. Don't let them fool you - I asked the Supervisor if she was a call center supervisor after not getting any answer or commitment for anything and she admittedly said that she was. She indicated a financial representative would call in 24 hours.... Read More

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