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College Finance Student Loans Review


ConsumersAdvocate.org Rating: 3.6 / 5 (Very good)
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College Finance is a student loan marketplace that provides educational resources about student loans and connects students and their families with reputable student loan providers. The company is headquartered in Boston, Massachusetts.
 
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How is College Finance rated?

Breakdown

3.0/5
Loan Details
3.5/5
Eligibility Criteria
4.0/5
Customer Experience
4.5/5
Additional Benefits

Overall Rating: 3.6 / 5 (Very good)

College Finance is a good place to begin your search for a student loan if you're new to student loans and aren't quite sure where to begin. It has several resources to help students familiarize themselves with student loans and a search tool that can connect you with top student loan lenders. College Finance doesn't actually underwrite any of these loans, so you'll have to get quotes from the lenders directly to learn more about what they can offer you.

College Finance Loan Specifics

Loan Details - 3 / 5

College Finance partners with several private student loan companies to offer loans to students at all levels. Minimum and maximum loan amounts as well as terms and interest rates will vary depending on which loan provider you work with. College Finance gives you a range of a company's minimum and maximum APRs for fixed- and variable-rate loans, but you won't know exactly what interest rate you'll get until you get a quote.
Loan Types
Undergraduate
Graduate
Career Training
Minimum Loan Amount
$1000
Maximum Loan Amount
Total cost of attendance for undergraduate loans. $150,000 for medical and dental school loans.
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.

Fixed APR Range

Undergrad: 4.42% - 16.99% (1) Graduate: 4.42% - 14.49% (1) Parent: 4.42% - 16.99% (1)

Variable APR Range

Undergrad: 5.29% - 16.99% (1) Graduate: 5.29% - 14.49% (1) Parent: 5.29% - 16.99% (1) Medical variable: 5.29% - 14.47% (1) Dental variable: 5.29% - 14.47% (1) Law variable: 5.29% - 14.47% (1) Health Professions variable: 5.29% - 14.47% (1) MBA variable: 5.29% - 14.49% (1)

Disclaimer

(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. Variable rates may increase after consummation. (2)To receive the $100 statement credit, borrower must take out a loan via the Apply Now link provided here, sign-up for Candidly education loan management, and link this loan to their Candidly account within 180 days of the first loan disbursement. Once the loan is linked, Candidly will remit payment to the loan servicer, and it will be applied as a payment

College Finance Qualifications

Eligibility Criteria - 3.5 / 5

Eligibility criteria will depend upon several factors, including which lender you end up working with. Your age and credit history may also dictate whether you need a cosigner or whether you are able to take out a loan on your own. College Finance doesn't ask any questions to help determine which student loan providers may be interested in working with you, so the only way to find this out for sure is to get quotes from the companies.

College Finance Customer Experience

Customer Experience - 4 / 5

College Finance is a good resource for those who are interested in learning more about how personal loans work and comparing some of the top providers. It doesn't offer student loan calculators, but there are plenty of articles to help you understand how student loans work and how you can figure out which one is right for you.
Student Loan Calculator
Online Quotes

College Finance Company Reputation

Additional Benefits - 4.5 / 5

College Finance is a student loan marketplace. It doesn't underwrite student loans itself but rather connects students and families with lenders who do provide student loans. There aren't a lot of reviews of College Finance online, but this isn't particularly concerning because it's only a tool to help you find a lender. Once you've applied for your loan, you'll deal with the underwriter moving forward.
Lender Type
Marketplace
Year Founded
2020

Company's Disclosure

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. Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. 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 08/1/2023. 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.

Company Profile

Full Name
College Finance Student Loans
Company Website
https://collegefinance.com/
Headquarters
399 Boylston St., 6th Floor, Boston, MA, 02219
Top Rated
Our Partner

#1 Choice for Students & Co-signers

  • Rates starting at 3.59% 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

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