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College Ave Review

Reviews 769
College Ave
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College Ave
College Ave
Excellent
Reviews 769
Bestmoney Staff
Apr. 29, 2021
3 min read
BestMoney Staff
College Ave Summary
College Ave offers private student loans and refinance loans. It is suitable for people looking for flexibility and ease of use, and offers loans with 5 to 20 year terms.

Pros

  • High maximum refinancing amounts, up to $300,000
  • No application or origination fees

Cons

  • Maximum loan terms is only 20 years
  • Little clear information about minimum credit scores and income

College Ave College Ave View Rates

College Ave at a Glance

College Ave offers flexible private undergraduate and graduate student loans, parent loans, and refinancing options for student loans. The terms are flexible with a choice of repayment terms, and fixed or variable interest rates. There are no origination or application fees, cosigners are accepted, and the application is fast, simple, and entirely online. You can cover up to $300,000 for graduates of medical, dental, veterinary, or pharmacy degrees.

  • Choose your repayment term between 5 and 20 years
  • Pay only the interest for up to 2 years
  • Fast, simple online application in 3 minutes
  • No application or origination fees

Suitable for?

The high loan refinancing amount for regular graduates, and even higher maximum loan amount for medical, dental, pharmaceutical and veterinary graduates, make it a good choice for anyone carrying a particularly high amount of student debt. It’s also an excellent choice for graduates who can’t afford to make large, regular payments immediately, but hope to land a well-paying job in the near future.

Loan Features

College Ave's biggest feature is its ease of use. The application process is simple, and approval comes quickly. It also offers a large amount of flexibility for refinancing student loans, since you can choose any term between 5 and 20 years. You can also choose fixed or variable interest rates. College Ave refinances both private and federal student loans and offers refinancing with or without loan consolidation. Finally, application is free with no application or origination fees to pay. 

  • No application or origination fees
  • Fast and simple application process
  • Fixed and variable rates
  • Save 0.25% on your interest rates using auto-pay
  • Refinance student loans

The Application Process

Applying for student loan refinancing with College Ave is fast and entirely online. You’ll just need to fill out a simple form to provide information about your current employment, the school you graduated from, and other basic personal information. It takes about 3 minutes to apply, and you'll get an instant response with a range of rates and fees for you to review and choose whether or not to proceed. 

College Ave accepts both federal and private student loans for consolidation and refinancing and permits you to apply with a cosigner for a better rate. Before applying to refinance federal loans, you should bear in mind that, like with all private refinancing options, you could be giving up federal loan benefits, such as public service forgiveness and economic hardship programs.

Loan Terms - Essentials

To apply for student loan refinancing, you need to have at least $5,000 of student loan debt and have studied at one of the eligible schools listed on the College Ave website. You also must be a US citizen, aged over 18, and have a valid social security number. College Ave does have a minimum credit requirement and accepts cosigners for borrowers who don’t meet those terms, but it’s difficult to discover what the specific credit rating and income requirements are. In general, you’ll need a credit rating of 680 or more to qualify for refinancing. College Ave doesn’t charge any application or origination fees and does offer no-commitment quotes, so you can apply and then consider your options.

  • You must be over 18 years of age
  • You must have graduated from an eligible school
  • You must have at least $5,000 of student loan debt
  • You need to meet minimum credit and income requirements or bring in a cosigner who does

Repayment Terms

Although some lenders have longer terms, College Ave lets you choose any term length between those maximum and minimum options. If you pay using auto-pay, you'll get a 0.25% discount on your rates.

How Safe is It?

College Ave uses a secure website with SSL technology protection and an HTTPS URL. It is committed to keeping your information secure and promises never to request sensitive personal or financial information via email. College Ave's privacy policy is transparent and clear, with full explanation about the ways in which it will use your personal and financial information. College Ave will share it with business partners and service providers, but it will never sell your details.

Help & Support

College Ave offers customer support via email and telephone. There is a range of email addresses and phone numbers to use, depending on whether you are applying for a student loan or a refinance loan, or are already repaying a student, graduate, or parent loan or a refinance loan. The email address for general inquiries is studentloans@collegeave.com. Phone lines are open from 9am to 8pm from Monday to Friday for student loans or student loan refinances.

Deep Dive into Pros and Cons

The overall quality of service College Ave provides is excellent, but certain areas of its offerings could be improved:

  • The company is still not affiliated with all learning institutions in the country, meaning that some schools may not meet funding requirements
  • The company does not service the loans it extends, meaning that support may vary
  • Loan repayment terms could be extended to cover longer durations

Even with some areas for improvement, many of the company’s characteristics put College Ave head and shoulders above the competition:

  • It's customization for loans is at the head of the industry
  • The application process takes only a few minutes
  • Repayment periods offer more flexibility to students and professionals
  • No prepayment penalties encourage and reward quicker loan repayment

Summary

Overall, College Ave offers an easy to use and flexible approach to student loan refinancing. The high maximum loan amounts and flexible repayment terms are attractive to every graduate, and the fast online application process and response time without any application or origination fees mean that you have nothing to lose by applying.

Physical Address

College Ave Student Loans

233 N. King St. 

Wilmington, De

19801

College Ave College Ave View Rates

Disclaimers

College Ave Student Loans products are made available through either Firstrust 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.The 0.25% auto-pay interest rate reduction applies as long as the borrower or cosigner, if applicable, enrolls in auto-pay and authorizes our loan servicer to automatically deduct your monthly payments from a valid bank account via Automated Clearing House (“ACH”). The rate reduction applies for as long as the monthly payment amount is successfully deducted from the designated bank account and is suspended during periods of forbearance and certain deferments. Variable rates may increase after consummation.$5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees.This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. 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 1/27/2021. Variable interest rates may increase after consummation.

BestMoney Staff
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.
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Trustpilot reviews
See what some customers are saying about College Ave
College Ave
Excellent
Reviews 769
on
Excellent
78%
Great
9%
Average
4%
Poor
2%
Bad
7%
J
james
17 hours ago
They were super helpful for a novice…
They were super helpful for a novice like me doing this for the first time. Their guidance was invaluable.
R
robert
a day ago
Easy process and prompt response!
Easy process and prompt response!
S
shealee
a day ago
Super easy
Super easy! It was quick and great communication!
J
james
2 days ago
Easy
Updates are consistent
R
robert marks
2 days ago
Funding needs some work!
Application process is simple, however, we have had issues with funding delays to the university on both occasions. Both the university and College Avenue pointing fingers at one another. Very frustrating!
R
ron
2 days ago
Fast and efficient
Fast and no fuss
B
bruce lockett
3 days ago
Fast and accurate
Fast and accurate
C
christian
3 days ago
Customer service, very knowledgeable, and very helpful and very respectful to the customer
The agents are very knowledgeable very helpful and very respectful to the customer. I felt very welcome and very warm each time I interact with an agent they are very knowledgeable and willing to take the extra step and go beyond and above to help you and that’s what customer service should be.
J
julian
3 days ago
Ease of applying
Ease of applying
P
phil
3 days ago
Way too many e-mails
Way too many e-mails. I am only the co-sign person, not the college student.
P
paul
4 days ago
The process was quick and easy
The process was quick and easy. We were able to get what we needed to and take care of the payments for my daughter to receive her Bachelors degree!
j
jfnette
6 days ago
Difficult uploading and sending pics
Difficult uploading and sending pics
G
gladis
7 days ago
The waiting time is super long and…
The waiting time is super long and slow, I am still waiting to get my loan after more than two months.
G
ginger
7 days ago
We had an answer ASAP
We had an answer ASAP - because we need an answer right away.
C
colleen
7 days ago
I still never received confirmation…
I still never received confirmation that the second half was canceled. I was told i would get that email
A
andrei
7 days ago
Thank you for helping us out borrow…
Thank you for helping us out borrow money for my son’s college tuition. The process was easy and fast.
D
dawn
8 days ago
Easy online access
Easy online access
M
myisha
8 days ago
This process and lender was convient…
This process and lender was convient and supportive.
I
ida
9 days ago
Stress free
No hassle, no long wait.
A
allena
9 days ago
My Dreams Are Coming True!
This has helped me achieve my first semester and looking into my next semester!! Thank you so much! Coming from an unfortunate and very un-wealthy family this helps so much!!
P
philippe
9 days ago
Great Customer service
Great Customer service
D
deborah
9 days ago
Simple and reliable
Simple and reliable! Very thankful for College Ave loans - it was a big help!
S
stefanie
9 days ago
This was a fast and easy process.
This was a fast and easy process.
J
jeanne
10 days ago
Ease of the application
Received a quick response.
T
trent l combs
10 days ago
Great experience.
Great experience.
P
pedro
10 days ago
the ease of the application process
the ease of the application process
D
debora
10 days ago
The concern and how hastened they…
The concern and how hastened they process you application.
A
alexis
10 days ago
Fast and easy
Fast and easy. The app made the process smooth to get the funding needed for our daughter’s college needs.
J
janine
10 days ago
Very easy loan process especially …
Very easy loan process especially for college students who are unfamiliar with the whole process.
M
mark
10 days ago
Very easy straightforward easy to…
Very easy straightforward easy to understand process.
R
robert
10 days ago
Pleased with dealing with these people.
Pleased with dealing with these people.
B
bayflynn
10 days ago
Was very easy
Was very easy, Thank You
D
david
10 days ago
Ease of use
Ease of use, soft pull on my credit and rate converted our family from Discover.
P
p.d
11 days ago
Easy to apply
Easy to apply. Acceptable rate
S
srinivas gudur
13 days ago
Quick and professional service.
Quick and professional service.
C
chris
13 days ago
They inform us to be patient and…
They inform us to be patient and everything will be completed once the school verified all necessary documents and paperworks for the student is in. Smooth sailing journey
J
jennifer
13 days ago
Easy and phenomenal service!
The application process, the approval and response time is is so easy, quick and phenomenal! When my school made an error and I had to call customer service they were so friendly and helpful in getting me the information I needed to get it corrected.
M
michael
13 days ago
There was a lot of confusion
There was a lot of confusion around the amount to borrow. The website would not let us put in what we needed to borrow, we had to request an amount higher than what is needed. It took several phone calls to understand why we were unable to get the amount my son needs for school. The school would not verify the amount needed, now he does not have the equipment and funds needed to complete his studies. This was a mess and has caused lots of anxiety and stress. Not a good experience. Poor customer service and poor website design.
V
virginia
14 days ago
Considerate
Considerate, patience and knowledgeable
consumer-image
dominique walker
14 days ago
Best ever
It was a great experience so approval process was quick and the money transferred to my college with instant I would highly recommend this company
N
nikita
14 days ago
Instant approval with minimum paper work
Instant approval with minimum paper work
K
kerry
14 days ago
Rates were competitive and process was…
Rates were competitive and process was easy
A
ashley
15 days ago
So easy to apply and process applications.
Love the portal and how easy the process is. I wish the FAFSA process were just as simple and quick!!!!!!
K
kelly
15 days ago
Took too long to get funds
Took too long to get funds. Very little help from your company. We used sofi last year with no issues and great customer service
N
nuez/philip garrido
15 days ago
It was very easy and fast process
It was very easy and fast process. Great service.
D
darren
15 days ago
Applying was simple and the process was…
Applying was simple and the process was concise. We had previously applied to a different company and it was a nightmare. I would recommend College Ave to anyone asking about private student loans.
consumer-image
nellie gonzalez-wallace
16 days ago
I just made one call and they took care…The best
I just made one call and they took care of the rest, that is as honest as i can be, took care of everything else
L
lisa
16 days ago
Interest rate is appalling :(
Interest rate is appalling :(
C
chris
16 days ago
Just quick money to pay tuition
Just quick money to pay tuition. Easy process.
W
william
16 days ago
Pretty simple procedure
Pretty simple procedure. My daughters student loan was approved in seconds
K
kuchelmeister/juliet perez
16 days ago
Got the option we needed
No service is perfect, but they come really close. Really great that no pressure to apply for more than we feel we need at this time. Turn-around time was also quite fast, application to payout. Lots of options for students, almost to much to digest, but found what we needed, payment option that works for us and BAM, its done.
R
rachel s.
16 days ago
Easy to use
Easy to find, use and process.
B
ben
16 days ago
Still no money
I applied for a loan in august, I’ve been constantly receiving texts about my loan being sent to the school. My school certified it and I still have a hold on my student account and have no clue if my school ever received money from you guys. On top of that I can’t login to my account on your app to get more information
D
dolores
19 days ago
My student's college has not received the loan proceeds yet. 3 weeks after school started
The student loan was approved in early August. It is now 9/10/23 and the loan proceeds were not received yet. No communication from College Ave to notify us of the delay.
K
kelly
20 days ago
So easy
So easy. Excellent customer service (we had made a couple mistakes and it was easily corrected!!) Worked directly with the university. Will definitely use again next year!!
R
rm
20 days ago
Easy to use
Easy to use, quick turnaround, great communication updates
consumer-image
yolanda fuentes-romero
20 days ago
Super easy to go through
Super easy to go through. We loved it!
A
angiemc3
20 days ago
The best loan rates
The best loan rates, easy to get in contact throughout the process. Seamless!
J
jose
20 days ago
Very fast and easy !!
Very fast and easy !!
D
donna
20 days ago
Quick and easy to do
Quick and easy to do. It's great they also work with the school directly.
C
curtis
20 days ago
Great
So helpful! Really saved my bacon.
M
marijane
21 days ago
The process was fairly easy
The process was fairly easy. I just hate the super high interest rate! Rate is outrageous!
S
spencer y chow
21 days ago
Easy to apply for a new loan.
Easy to apply for a new loan.
I
isaac
21 days ago
Takes too long to send money to the…
Takes too long to send money to the school, by the time they receive it and process the disbursement it's already a month into the semester
A
ariel pereira
21 days ago
You’re asking me for a review?
You’re asking me for a review when the school certified the loan last week, and we’re not getting funds until next week. Your turn around time for releasing funds is a bit ridiculous, but yet you want a review on how you did. How about you finish first, then ask.
S
savannah
21 days ago
The loan process with College Ave was…
The loan process with College Ave was very easy and uncomplicated. My experience was completely stress free and seamless. I highly recommend College Ave!
M
matthew
21 days ago
Love it!
Good deal for a college loan!
D
dena
21 days ago
Easy to apply
Easy to apply. Lowest interest rate I could find.
R
ritta
21 days ago
An excellent company very convenient
Entire process was very quick !
c
customer
22 days ago
Great
It was fast and honest. Thank you.
M
mary
22 days ago
Great!
Efficient and excellent loan status updates
M
martine
22 days ago
So far I feel okay.
So far I feel okay. I don’t have no problem yet. I give 5 stars to the company for now.
L
lou
22 days ago
Process was fast with no issues
Process was fast with no issues
S
s.k.
22 days ago
The process went very smooth
The process went very smooth! We were kept informed on what was happening behind the scenes. It truly made things less stressful.
E
emmy rose
22 days ago
Don’t waste your time
Don’t waste your time, even having a fairly good credit score isn’t going to help. You really will need a co-signer
B
bijal
22 days ago
Simple
Simples and easy way to apply
J
joe armstrong
22 days ago
Feels like home
The loan application was very easy and they were so nice in answering my questions. It was like talking to my mom thank you so much for helping my son achieve his dreams.
H
hugo
22 days ago
Great customer service
Everything is steam lined. I like the professionalism with the process. Thank you.
P
pbn
22 days ago
Great and quick service 👍
Great and quick service 👍
J
janie k
22 days ago
Easy peasy
The application process was very easy and straight forward. Everything was explained well.
D
daniel
22 days ago
Applying made easy..
This company made it real easy to apply and keep track of the progress. So grateful.
D
dina newmark
22 days ago
All good 👍👍👍👍
All good 👍👍👍👍
J
joelle
23 days ago
Easy to apply
Easy to apply
S
sabrina
23 days ago
We were not happy with the rate
We were not happy with the rate. Too high for a first year student who will be in vet school for 7 years.
T
tammy
23 days ago
Easy n fast reliable
Easy n fast reliable
B
brandy
23 days ago
Process was easy and quick
Process was easy and quick. However, I decided not to use this lender because I received a better rate elsewhere.
J
ja
23 days ago
Great experience
Great experience, good technology, and fast response times.
W
washington roman
23 days ago
High interest rates for education
High interest rates for education
J
jose
23 days ago
My loan request expired and was not…
My loan request expired and was not notified
T
todd
23 days ago
Not As Described
This loan was supposed to be a direct to consumer loan and be one disbursement. Turned out to be direct to school and in two different disbursements over 4 months. Would not recommend.
P
patricia
23 days ago
OU Here he comes!
Very easy to get approved. Questions were addressed immediately.
K
kaylee
23 days ago
Quick…and easy isn’t cheap
I would give a 5star if the interest was not so high. Other then that they were fast and easy and helped out in a binde
S
sinea
23 days ago
easy to navigate site
easy to navigate site
T
torrence
23 days ago
The experience was very confusing
The experience was very confusing. I ended up applying for 3 loans when it was only supposed to be 1
S
sandy tallent
23 days ago
Easy and quick process with Colllege Ave
Easy and quick process with Colllege Ave
C
christina
23 days ago
Great service
Very easy and painless application. They communicate well, informing us of every part of the process from approval of the loan to contacting the college and certifying the loan. I have contacted them through chat on the website and the customer service rep was helpful and quick to respond.
B
blayde
23 days ago
Easy to apply
It was super easy to apply and go through the application process. I got accepted for a student loan right away.
D
dae
23 days ago
what made my experience great is that…everything went smoothly!
what made my experience great is that the agent was very knowledgeable and pleasant. Each time I called I managed to get the same two people and this was another plus for me! I was provided with additional concise information that was beneficial to my success of being able to get the loan in a timely manor. My son was able to start school on time and the loan covered exactly what he needed.
E
emmanuel
24 days ago
Extremely easy and straightforward
They made everything crystal clear to understand and to fill out the application.
J
javier
24 days ago
Pronto responde y da soluciones
Pronto responde y da soluciones