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College Ave Student Loans: 2023 Review

Updated on July 14, 2023
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At a glance

Rating: 4.3 stars out of 5
Bankrate Score
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Repayment Options
Rating: 4.6 stars out of 5
Rating: 3.8 stars out of 5
Customer Experience
Rating: 4.5 stars out of 5

About Bankrate Score

Founded in 2014, College Ave is an online lender specializing in private student loans and student loan refinancing. Along with its loan options, borrowers will find tools, resources and scholarship opportunities on its site, which makes it a great choice for borrowers new to student loans or those entering college for the first time.

Loan amount $1,000 to total cost of attendance
APR from 5.49% Variable; 4.41% Fixed
Clock Wait
Term lengths 5 to 20 years
This lender is best for borrowers who are looking for a variety of repayment options and a comprehensive online experience.
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Check rate with Credible
Student loans from College Ave are a good option for borrowers who are looking for a variety of repayment options and those who prefer a comprehensive online experience. Borrowers have the chance to win additional aid for college expenses through the lender’s scholarships, sweepstakes and contests.

College Ave pros and cons


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    Co-signer release: Not all lenders will allow you to release your co-signer. College Ave makes the option available after half of the repayment period has elapsed if you meet certain payment and income requirements.

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    Flexible repayment: For most of its loans, College Ave offers four different repayment terms and four different methods of repayment — helping you better fit student loans into your budget.

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    Good online resources: College Ave aims to meet students at all stages of their student loan journey, with student loan calculators, scholarships and plenty of educational content.


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    Limited information on eligibility: College Ave doesn’t disclose its income or credit requirements, even for its refinancing loans, meaning you’ll have to get a quote in order to determine if you’re eligible.

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    Short forbearance: College Ave’s forbearance program is limited to three- or six-month increments, up to a total of 12 months.

Do you qualify?

In order to apply for a private student loan with College Ave, you must:

  • Be a student at an eligible U.S. college or university.
  • Be a U.S. citizen or international student with a valid U.S. Social Security number.
  • Make satisfactory academic progress while in school.
In order to apply for a refinancing loan, you must:
  • Be at least 18 years old.
  • Be a U.S. citizen or permanent resident.
  • Have graduated from a selection of Title IV eligible undergraduate or graduate programs.
  • Meet College Ave’s underwriting requirements.

College Ave: in the details

How to contact College Ave

Customer service for new student loans can be reached at 844-422-7502 Monday through Friday 9 a.m. to 9 p.m. ET. Customer service for help with servicing or repaying a loan can be reached at 844-803-0736 Monday through Friday 9 a.m. to 10 p.m. ET. Representatives are also available via chat, text or email. Existing customers may also view, manage and pay down their loans with College Ave’s website and app.

Loan rates

College Ave has one discount: You can save 0.25 percent by setting up autopay. The rates below include this discount.

Loan product Variable rate Fixed rate
Undergraduate student loans 5.49% to 16.99% APR 4.41% to 16.99% APR
Graduate student loans 5.49% to 14.49% APR 4.41% to 14.49% APR
Dental school loans 5.49% to 14.47% APR 4.41% to 14.47% APR
Law school loans 5.49% to 14.47% APR 4.41% to 14.47% APR
Medical school loans 5.49% to 14.47% APR 4.41% to 14.47% APR
MBA loans 5.49% to 14.49% APR 4.41% to 14.49% APR
Health professions loans 5.49% to 14.47% APR 4.41% to 14.47% APR
Parent loans 5.49% to 16.99% APR 4.41% to 16.99% APR
Career loans 5.49% to 16.99% APR 4.41% to 16.99% APR

Repayment terms and options

Each of College Ave’s products feature different term options. Undergraduate, graduate, MBA and career loans have the option of five, eight, 10 or 15 years. Dental, law and medical school loans have an additional 20-year option. Parents can choose any term between five and 15 years, and people looking to refinance can choose any term between five and 15 years.

College Ave’s grace period is six to 36 months, depending on the type of loan you take out. Repayment options include:

  • Deferred: Make no principal or interest payments while in school.
  • Interest-only: Pay only monthly interest charges while in school.
  • Flat: Pay a set $25 per month while in school.
  • Full principal and interest: Make full principal and interest payments as soon as school starts.

How to apply for a loan with College Ave

College Ave’s application process is completely online. According to the lender, it allows you to apply from any device and find out if your loan is approved in just three minutes. The entire process, from application to College Ave sending money, typically takes 10 business days or longer.

To apply, you’ll need to gather information like your Social Security number, your estimated annual income, your school name and the amount you’d like to borrow. You’ll see your interest rate once you’re approved.

Here’s what the process looks like when applying for a student loan through College Ave:

  1. Start the application process on College Ave’s site and see if you’re approved. You’ll get an instant decision.
  2. Accept the terms and e-sign loan documents, which can be completed on the site.
  3. Wait for College Ave to send the loan application and information to your school for certification. College Ave will schedule funds to be sent according to the school’s requested timeline.

College Ave FAQs

How Bankrate rates College Ave

Overall Score 4.3
Repayment Options 4.6 College Ave has a wide range of repayment options and loan types, as well as competitive minimum and maximum borrowing amounts.
Affordability 3.8 While College Ave offers starting lower APRs than some lenders, its maximum APRs are higher than average. It also charges a late payment fee.
Customer Experience 4.5 College Ave’s customer service isn’t available on the weekends. However, it does have a good online platform and offers a mobile app.


Bankrate scores student loan providers across 14 data points. State availability, the length of the grace period offered and available loan amounts are all considered when evaluating lenders. Scores are divided into three categories.

  • Availability: Includes loan amounts, loan types, repayment options and state availability.
  • Affordability: Includes grace period length, APR range, cosigner requirements and fees.
  • Customer experience: Includes app availability, repayment options, online availability and customer service hours.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.