College Avenue Student Loans Review

College Ave is an online marketplace where you can easily find and get student loans. They've got your back whether you're an undergrad, a grad student, or a parent looking for loans or even refinancing options. This company has been around since 2014, and they're based in Wilmington, Delaware.

Loan Specifics

College Ave offers undergrad, grad, and parent loans, all without fees or prepayment penalties. They offer multiple repayment options for each loan type, and you can choose from four loan terms with fixed or variable rates. By the way, their undergrad loan rates already include a 0.25% discount if you use auto-pay.

You can borrow a minimum of $1,000 and for undergrad loans, you can go up to the total cost of attendance. If you're in medical or dental school, you can borrow up to $150,000. As for loan terms, they range from 5 to 15 years for undergrad and grad/business school loans, 5 to 15 years for parent loans, and 5, 8, 10, 15, and 20 years for medical and dental school loans.

When it comes to grace periods, they've got you covered. You get a nice 6-month grace period for undergrad loans and a sweet 9-month grace period for grad loans. We didn't see any mention of a forbearance program on their website though.

Qualifications

If you make at least $35,000 a year, you don't need a cosigner. They also offer a free online pre-qualification credit check with Experian, and it won't hurt your credit score. You'll need to be a U.S. citizen or permanent resident to be eligible.

Customer Experience and Reputation

College Ave makes sure you have a great customer experience. They provide a handy student loan calculator for each loan type, and you can always count on their 24/7 customer support. Plus, they offer a cool discount of 0.25% if you sign up for auto-pay.

In terms of reputation, College Ave has an awesome BBB rating of "A+" with zero negative reviews, and on Trustpilot, they have a solid 4.5 out of 5 stars with 57 reviews logged. Looks like people are pretty happy with them!

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.

Information advertised valid as of 12/2/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.