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College Finance Review

College Finance
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Emma Street
Feb. 10, 2023
5 min read
Emma Street
College Finance Summary
College Finance offers private student loans powered by College Ave. Until June 2022, College Finance was simply a student loans comparison website that provided advice and guidance to students looking for student loans. It has recently expanded its role and become a provider of student loans itself. A College Finance loan is effectively a College Ave loan which comes with additional extras when you apply for it from College Finance’s website.


  • Free access to Candidly AI Student Debt Platform
  • $100 statement credit
  • Competitive, transparent rates and fees


  • Not available to non-US citizens (unless cosigned)

College Finance at a glance

Editorial score

Online experience

Has learning resources, access to rates, mobile app

Customer services and support

Multiple ways of reaching lender, wide range of hours

Repayment flexibility

Offers flexible repayment plans & the option for special repayment programs


Loans available to all credit types, income levels, and students

Variety of Loan Types

Offers all loan types

College Finance College Finance View Rates


College Finance is an established organization which provides information to students and their families, enabling them to make choices about college funding.

It has recently moved into offering student loans with College Finance branding. These loans are provided by College Ave which provides private student loans, including undergraduate loans, graduate loans, parent loans, and refinancing.

Suitable For?

College Finance loans are provided by College Ave and are ideal for all student and parent borrowers, offering flexible terms for repayment and competitive rates.

However, what makes College Finance loans different from other College Ave loans is free access to Candidly. Candidly is an AI-powered student debt and savings platform which creates a personalized plan to help you manage your loan payments, find out about federal loan forgiveness and consolidation programs and more.

This service benefits everyone, and the loan is well suited to people who had been considering a subscription to Candidly regardless of their loan provider.

Loan Features

College Finance’s student loan product is available for undergraduates and graduates and can be taken out with or without a cosigner, depending on the applicant’s financial status.

Undergraduate loans cover up to 100% of the cost of attendance, including tuition, housing, and other college costs. Graduate loans cover the cost of a postgraduate, master's, doctoral, or professional degree.

If you are looking for a variety of repayment options and a comprehensive online experience, student loans from College Finance might be a good option for you.

The Application Process

It takes only a few minutes to apply for a student loan, and it can all be done online. To apply, you will need to complete an online application form at College Ave. You will be required to enter your name, address, date of birth, university, year of study, and loan period. You must also confirm that you are a US citizen and provide your social security number.

You will be presented with a general application disclosure which you should review. If you are happy with the terms of the disclosure, apply for pre-qualification. College Ave will make a loan decision almost immediately and payment is usually received within ten days.

Eligibility Requirements

To apply for College Finance’s student loan, either you or your cosigner must meet specific eligibility requirements. You need to be a US citizen or a permanent resident, you need to be old enough to be considered an adult in your home state, and you need to have a good credit history and meet minimum income requirements. Your school and area of study must meet the lender’s criteria, and you must maintain satisfactory academic progress.

Loan Rates

College Finance’s interest rates and fees are highly competitive, and all rates include a 0.25% auto-pay discount. Variable APRs are between 5.09% - 15.99%. Fixed APRs are between 4.44% - 15.99%.

The difference in rates depends on several factors. Your interest rate will also depend on how much money you borrow, how good your credit is, and how long the loan lasts. If you apply with a cosigner with good credit, your rates will automatically be lower.

Repayment Terms

College Finance offers flexible repayment plans and the option to either start making monthly repayments while still at school or to wait until after graduation. Repayment terms can be 5, 8, 10, or 15 years.

How Safe Is It?

The College Finance loan is powered by College Ave, which uses encryption and SSL security protocol to protect data transfer on the Internet. The two partnering banks that provide loans for this program, Firstrust Bank and M. Y Safra Bank, have appropriate licenses in the thirty states which require them.

Customer Service

College Finance can be contacted by telephone at 617-812-9679 or by email at hello@collegefinance.com.

However, if you want specific information about a loan that you wish to apply for or a loan that you already have taken out, it would be best to contact College Ave directly. You can reach the customer service team by phone on 844 422 7502 (Monday-Friday: 9am-10pm ET, Saturday: 9am-3pm ET) or by submitting an email via webform on the website.

How College Finance Compares

College Finance (Powered by College Ave)Sallie MaeEarnest
APR (Variable)5.09% - 15.99%
6.37% - 16.70%*
5.62% - 16.20%
Minimum credit score640Not specified650
Loan amounts$1,000-cost of attendance for 1 year$1,000-cost of attendance for 1 year$1,000-cost of attendance for 1 year
Accepts cosignersYesYesYes
Suitable forAll students, including non-US citizens (with a US cosigner) & part-time studentsAll students, including non-US citizens & part-time studentsStudents who want flexibility around repayment


College Finance is a reliable and trusted provider of student loans. With its simple application process, clear eligibility requirements, and competitive interest rates, College Finance is an excellent option for anyone looking to finance their education. 

Its private student loans powered by College Ave offer both fixed and variable rate loans, so you can choose the option that best suits your needs. In addition, if you have a cosigner, you may be eligible for a lower interest rate. College Finance also offers flexible repayment options and the ability to make payments while in school, so you can stay on top of your loan and avoid accruing interest.

What sets College Finance loans apart from other College Ave loans is the fact it offers free access to Candidly and a $100 statement credit. So, if you’re looking for a College Ave loan with some extra perks, College Finance is the way to go.


This review was created with information from College Finance and College Ave’s company website and by generating an application disclosure through College Ave’s application process. Sallie Mae and Earnest’s websites were used for comparison purposes. 

College Finance College Finance View Rates


1. 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 Ave 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.

As certified by your school and less any other financial aid you might receive. Minimum $1,000.

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. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.

This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

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 09/1/2023. 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.

Emma Street
Written by
Emma Street
Emma holds a BSc in Computer Science and has worked in software development for 15+ years as a support analyst, developer, and technical writer. Emma currently specializes in low-code software and web development, and has extensive experience in the fields of InsureTech and FinTech, with a keen understand—and enthusiasm for!—the intersection of personal and corporate finance and technology.
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