College Ave Review

ByBestmoney StaffJan. 28, 2021

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In a Nutshell

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.


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


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

College Ave ID Card

APR from3.24%
Loan typesRefinance private or federal student loans
Loan amount$5,000 to $300,000*
Repayment Terms5 to 20 years*
Minimum Credit Score680+
Suitable forGraduates looking for flexible repayment schedules
Direct Lender or MarketplaceDirect lender

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 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


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


College Ave College Ave View Rates


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.

College Ave customer testimonials

GreatReviews 58
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  • author
    Feb 13, 2021

    Their interest rates are CRAZZZYYYYY please save yourself a hardship credit check and go somewhere else.


  • author
    Kari Lind-Tufte
    Aug 09, 2019
    Don't Trust This Company

    We had a horrible experience with College Ave. We were approved for a student loan at a fixed interest rate when the college determined we didn't need as big of a loan as we first applied for. We were told by College Ave that we needed to cancel and reapply but the original interest rate would still be honored. After reapplying, we were approved for a much higher interest rate. After two weeks of calling and talking to a different representative each time who verified that we could get the original rate we were approved for, we were then told it had been too long since our original loan approval to receive the original rate! I'm convinced the whole thing was a scam, and they were banking on the fact that we would just accept the new, higher rate. Their customer service is awful. They NEVER returned my calls, and I'm truly convinced we were deliberately lied to by their customer service reps. Even when we asked to speak to a supervisor, we got nowhere. Needless to say, we did not get a loan with College Ave. We chose one of their competitors whose representatives returned our calls promptly, were able to actually answer our questions, and ended up giving us a better interest rate than College Ave. I would not recommend getting a loan from this company. I would not trust them!


  • author
    Zachary W
    Oct 01, 2018
    Horrible Customer Service

    I'm not sure if this review should go to College Ave or Nationwide Bank, the loan servicer. I was able to easily apply to receive funding for my student debt. As I was actively making payments to reduce the balance of my loan, there were several situations where I wanted to make overpayments to try and reduce my balance as quick as possible. I was told these overpayments would go to "future payments" and not to the principal balance. This means that I would still continue to accrue interest as though I made no overpayment. (Be aware to anyone trying to save on interest!) Thankfully, though, I was able to pay off my student loan relatively quickly. But this was just the beginning. It only got worse from here. When I made a large payment to pay off the loan, I inadvertently overpaid my remaining balance bringing my balance into the negative. I was told I would receive a refund in 45 days. That seemed a little ridiculous that it would take so long but I accepted it. 55 days after paying off my loan I called in to check on the status of my refund. Customer Service was unable to help me and said they needed to wait on Accounting to confirm it was sent. I waited another week before hearing my check was sent. It is now a month later, I still haven't received the check they said was mailed to me. I have called Customer Service several times but they keep telling me they are waiting on Accounting. The Customer Service reps have never returned any of my calls as they said they would nor have I heard anything about the status of my refund. I would recommend NOT doing business with this company.


  • author
    Aug 07, 2018
    Opinion of CASL

    Good customer service the few times I called, but it was confusing on whether or not I had secured my loan for the fall. My mother and co signer was receiving emails saying that she need to send in a picture of her SSN and I was getting ones that said I was all good for the loan. So I was unsure if I was all set with the loan or not.


  • author
    Jul 24, 2018
    Online process is extremely easy

    Online process is extremely easy and customer service is readily available and amazing if needed.


College Ave