Major Help. Minor Stress.^®

When you graduate from school or drop below half-time enrollment, you have a period of time where you aren't required to make full principal and interest payments on your student loan. This period is called the grace period. It's important to note that interest still accrues during this time.

For our undergraduate student loans, College Ave offers a six-month grace period. For most graduate student loans, the grace period is nine months.

Learn more about how the grace period works.

A graduate student loan helps cover the costs of pursuing a master's, doctoral, or professional degree when savings, grants, or scholarships aren't enough. These loans bridge the gap between your financial aid and the full cost of attendance — including tuition, housing, books, transportation, and more.

There are two main types of graduate student loans: federal and private.

Federal Graduate Loans

Offered by the U.S. Department of Education, federal loans include:

• Federal Direct Unsubsidized Loans — Available to most grad students, regardless of financial need. Lifetime and annual caps, or max loan amounts, will change in 2026 due to new legislation passed in July 2025 (also known as the "One Big Beautiful Bill").
• Grad PLUS Loans — Allow you to borrow up to the full cost of attendance, but with a higher interest rate and loan origination fee than Federal Direct Loans. However, beginning July 1, 2026, the Grad PLUS Loan will be eliminated for new graduate student borrowers with the passage of the One Big Beautiful Bill in 2025.

To apply for federal loans, you'll need to complete the FAFSA® (Free Application for Federal Student Aid).

Private Graduate Loans

Private graduate loans — like the ones offered by College Ave — are available through private lenders. These loans may offer:

• Competitive fixed or variable interest rates
• Flexible repayment terms
• No origination fees

Private loans can be a smart option after you've explored scholarships, grants, and federal loans — or if you've reached your federal borrowing limits and need additional funding.

Your repayment schedule is determined by the type of student loan you have. Federal student loans have their own repayment options set by the Department of Education.

College Ave’s private student loans have some of the most flexible repayment options available. Typically our repayment terms range from 5 years to 15 or 20 years² depending on your degree program. Remember that shorter repayment periods will have higher monthly payments, but you will pay less interest in the long-term. And on the other hand, longer repayment periods will give you the flexibility to have a lower monthly payment, but you will pay more in interest over the life of the loan. No matter what you choose, College Ave has options for everyone and every budget.

International students with a U.S. social security number are eligible to apply for a student loan with College Ave Student Loans.

In order to be approved for a College Ave undergraduate student loan, an international student will be required to apply with a qualified cosigner. Cosigner must be a US Citizen or Permanent Resident.

The federal student loan repayment pause, originally enacted during the COVID-19 pandemic, officially ended in September 2023. As of now, loan payments, interest accrual, and collections have fully resumed. Borrowers should contact their servicer to ensure they're enrolled in a repayment plan that fits their current income and goals.