Repaying Your College Ave Student Loan

Repaying your College Ave student loan doesn’t have to be stressful. Whether you’re a borrower or a cosigner making your first payment or you’ve already started but want tips, we’re here to help. Put anxiety on the sideline and follow our guide to managing your College Ave student loan.

  1. Review your monthly statement.
    At College Ave, we send monthly statements to both borrowers and cosigners with information such as the amount due and the due date. Everyone starts off receiving paper statements in the mail, but we offer the option to switch to paperless statements. Make sure you know which type of statement you’ve chosen to receive and be sure to keep us up to date on your email and mailing address so you don’t miss any important information.

  2. Visit College Ave’s Servicing Website.
    If you don’t already have a College Ave login, you’ll need to create one by visiting our servicing website. Whether you are the borrower or the cosigner, you each get to set up your own online account. This will give you easy access to all your loans (and it makes College Ave loan payments easier!). Just log in to see your payment amount, due date and more, plus you can easily make payments, enroll in paperless statements, or update your contact information.

  3. Set up recurring payments to get your auto-pay interest rate reduction.
    Rest assured that your monthly payments are made on time, by setting up recurring payments. Not only can you avoid late fees, but you’ll also get the 0.25% auto-pay interest rate reduction Learn more about how to set up auto-pay.

Frequently Asked Questions

What is a grace period?

After you are no longer in school at least halftime – because you’ve graduated, left school, or dropped below half-time enrollment – you have a student loan grace period before you begin making full principal and interest monthly payments. The grace period is six months for College Ave undergraduate loans and nine months for most graduate loans.

  • If you deferred payments on your student loan, then you don’t have to start making payments until the grace period ends. Although payments are not required during this time, interest will continue to accrue. If you chose to make Flat Payments (such as $25 a month) or Interest Only payments on your student loan during school, you’ll keep paying those same monthly amounts during your grace period.

Why did my monthly payment increase?

Depending on the repayment option you chose when you applied for your College Ave student loan, your payment may increase. If you chose our deferred repayment option, meaning you were not required to make payments while in school, you’ll now be making a payment for the first time. If you chose an option where you were making partial payments while in school, like Flat Payment or Interest Only Payment, your payments will increase to cover full principal and interest each month.

How can I get an interest rate discount?

If you set up recurring payments through College Ave (aka automatic debit or auto-pay) you’ll receive a 0.25% interest rate reduction. To learn more about setting up recurring payments, visit our auto-pay guide, and follow the steps.

Does College Ave offer ways to help repay my loan?

Yes. We’ve partnered with Payce Rewards, a free service, to help you pay down your loan. You’ll earn cashback for in-store and online purchases. The Payce network features Starbucks, CVS, Kohl’s, Petco, Walmart, DoorDash, Disney Plus, and more. Once you earn $10 and link your College Ave account, Payce will automatically direct cashback to pay down your loan.

Sign up now to learn more about Payce Rewards.

How can I make payments if I don’t want to make them online?

We offer multiple ways to make payments. While setting up recurring payments with autopay or making individual payments through your online account are the fastest ways to pay, you can also mail payments via check. Make the check payable to College Ave Student Loans.

  • If you want to make a payment to a single specific loan, include the account number on your check

  • If you are making a payment on multiple loans, include your Document ID.

Mail your payment checks to the following address:

College Ave Student Loans
PO Box 5863
Carol Stream, IL
You can also pay by phone. Call our toll-free Customer Service line (844-803-0736) to make an automated
payment by phone 24/7.

You can also make a one-time electronic payment or set up recurring electronic (ACH) payments through a Customer Service Representative. Learn more about how to contact us.


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