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.
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.
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.
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.
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.
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.
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 firstname.lastname@example.org. Phone lines are open from 9am to 8pm from Monday to Friday for student loans or student loan refinances.
The overall quality of service College Ave provides is excellent, but certain areas of its offerings could be improved:
Even with some areas for improvement, many of the company’s characteristics put College Ave head and shoulders above the competition:
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.
College Ave Student Loans
233 N. King St.
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.