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College Ave Review
College Ave specializes in low-interest student loans with flexible repayment terms and options.
College Ave Review
College Ave specializes in low-interest student loans with flexible repayment terms and options.
January 31, 2023 / Nadav Shemer
College Ave Review
College Ave specializes in low-interest student loans with flexible repayment terms and options.
January 31, 2023 / Nadav Shemer
Quick & Easy Application Process
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In a Nutshell

College Ave Student Loans is a private student lender offering student loans for undergraduates, graduates, parents, and career training. College Ave has among the lowest rates for fixed and variable rate student loans. With a range of repayment options and terms, College Ave is targeted at anyone looking for a customizable student loan that won’t break the bank.


  • Low variable rates
  • Flexible repayment options
  • Takes only 3 minutes to apply


  • No co-signer release until half the term has elapsed
  • No phone applications

College Ave at a Glance

Loan types: Undergraduate, parent, career

APRs: 5.29% - 16.99% variable; 4.42% - 16.99% fixed

Graduate Loan APR: 5.29% - 14.49% variable; 4.42% - 14.49% fixed

Repayment terms: 5-15 years

Loan amount: Up to 100% of cost of attendance

Origination fees: No

Loan Rates and Fees

As mentioned, College Ave has among the lowest student loan rates for variable and fixed APRs. As with other lenders, the lowest rates are reserved for borrowers and co-signers with excellent credit. A 0.25% rate discount applies when using autopay to make monthly payments. The rates above and below include the autopay discount. Variable rates may increase after consummation.

Loan type Variable APRs Fixed APRs
Undergraduate loans 5.29% - 16.99% 4.42% - 16.99%
Graduate 5.29% - 14.49% 4.42% - 14.49%


5.29% - 14.49%

4.42% - 14.49%


5.29% - 14.47%

4.42% - 14.47%

Parent loans 5.29% - 16.99% 4.42% - 16.99%
Career loans 5.29% - 16.99% 4.42% - 16.99%

Repayment Options

College Ave offers a choice of four repayment terms: 5, 8, 10, or 15 years. The longer your loan, the smaller your monthly payments but the more you pay in interest overall.

Additionally, College Ave offers a choice of four repayment options while you’re still in school.

  • Full principal & interest payment. Start repaying your principal and interest right away to lower the overall cost of your loan.
  • Interest-only payment. Pay the interest charges each month as you go during school for a balance between moderate in-school payments and moderate overall costs.
  • Flat payment. Make a $25 payment each month during school to reduce your accrued interest.
  • Deferred payment. Defer your payment until after graduation, taking the pressure of during school but increasing the overall cost of your loan.

If the student borrower dies or suffers a permanent disability during the repayment term, the loan is forgiven.

Application Process

You can apply and get your decision within 3 minutes. If you’re approved, you’ll then need to accept your terms and e-sign your loan documents. At that point, College Ave will send the loan to the school for certification. Depending on the school, it can take several days to a few weeks before final confirmation of the loan.

To qualify, you must:

  • Be a US citizen or an international student with a valid US social security number;
  • Be enrolled in a degree program and be attending classes full time, half-time or less than half-time at an eligible school;
  • Meet the minimum credit score requirements. Exact credit criteria are not disclosed. However, College Ave offers a free pre-qualification tool to tell students and co-signers if their credit scores qualify and what interest rates they can expect. This tool won’t impact your credit score; and
  • Show satisfactory academic progress during school certification. College Ave will request this detail directly from your school, with no need for you to provide extra documentation.

Co-Signer Options

College Ave allows a maximum of one co-signer per borrower. In effect, the co-signer must agree to take equal responsibility for your loan. This means that if you, as the student borrower are not able to make your payments, then the co-signer will be legally obligated to pay the loan back for you.

A student borrower who is a US citizen can request a co-signer release after more than half the scheduled repayment period has elapsed, if the following requirements have been met:

  • The most recent 24 consecutive payments were made on-time and did not include any forbearance or workout programs for hardship reasons (an “on-time” payment is defined as paid within the grace period such that no late charges are assessed);
  • The borrower has demonstrated income for the previous two years that is more than twice the outstanding balance of all their loans with College Ave Student Loans; and
  • A credit bureau review shows no late payments on any other obligations for the past 24 months.

Customer Service

While College Ave only takes applications online, it does offer customer service over the phone. For help with your student loan, just hit the live chat button on the College Ave website, send a text to 855-910-0510, or call customer service on 844-422-7502. Business hours are Mon – Fri, 9am – 8pm ET.

About College Ave

College Ave is a private student loan company based in Wilmington, Delaware. It was founded in 2014. Loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.


College Ave is a standout performer on all the most important aspects of student loans, namely: low interest rates, flexible repayment options, and co-signer option. The absence of a transparent minimum credit score and the difficulty of getting a co-signer release add a bit of risk. However, if you or your co-signer are in a strong position in terms of credit score, then College Ave is one of the best student loan options out there.

Get started now, visit College Ave
By Nadav Shemer
Nadav Shemer specializes in business, tech, and energy, with a background in financial journalism, hi-tech and startups. Nadav writes for He enjoys writing about the latest innovations in financial services and products.