College Ave Student Loans Introduces New Ways to Save This Academic Year
Changes include new graduate student loan rates offering savings over Grad PLUS, lowering minimum loan amount to $1,000, and launching a new monthly scholarship sweepstakes
(Wilmington, DE) June 28, 2018
According to a recent national College Ave Student Loans survey of 3,510 parents of undergraduate students conducted by Barnes & Noble College InsightsSM, the majority of parents (62%) are most worried about the costs of college and student loan debt when it comes to their child’s college experience. To help take the stress out of paying-for-college, College Ave Student Loans, a leading provider of private student loans, announces new rates, repayment options, and a monthly scholarship sweepstakes for the upcoming school year:
New rates for College Ave Graduate Student Loan
- College Ave announces new, lower rates for its graduate student loan, offering qualified borrowers a competitive alternative to existing federal and private student graduate loans. With no origination fees and a lower fixed interest rate than the Federal Direct PLUS loan, this means credit-qualified graduate students could save approximately $1,000 on the average loan with College Ave over the federal loan option*.
New repayment options for College Ave Student Loans borrowers
- New this year, undergraduate and graduate student loan borrowers can now opt for a 5-year loan term, in addition to College Ave’s 8, 10, and 15-year loan terms. The 5-year option gives families maximum flexibility to pay their loans back faster, thus saving on the total cost of the loan. For families that may need greater flexibility in their budget, they can still choose a longer term. In addition, College Ave lowered its minimum loan amount to $1,000.
$1,000 Monthly Scholarship Sweepstakes
- Kicking off this month, College Ave is launching its $1,000 scholarship monthly sweepstakes. To enter, go to collegeavestudentloans.com. One winner will be randomly selected each month.
“We are thrilled to continue delivering on our promise of offering flexible financial solutions for families pursuing higher education,” said Joe DePaulo, CEO and Co-Founder of College Ave Student Loans. “With lowered rates and flexible repayment options, our customers can find an option that works for their budget.”
To learn more about private student loans that offer great rates and a flexible repayment plan, visit collegeavestudentloans.com.
* Calculations are estimates only. According to The College Board’s “Trends in Student Aid 2017” annual report, in 2016-17, Graduate PLUS borrowers received an average loan amount of $23,990. Calculations assume a graduate borrower takes out a loan for $23,990 (before fees), has one loan disbursement, and uses a 10-year standard repayment plan. Calculations are as of 6/27/2018 based on expected Graduate PLUS Loan rates after 7/1/2018 as published by the New York Times including a 7.60% interest rate and 4.264% loan fee, vs. a College Ave Student Loans Graduate Loan with a 7.60% interest rate and no loan fee. Federal and private student loans have different benefits and options, to learn more visit College Ave Student Loans resource page.
About the Survey
The College Ave Student Loans survey was conducted by Barnes & Noble College InsightsSM. The national survey had 3,510 parent respondents and was conducted April 13 – April 17, 2018.
About College Ave Student Loans
College Ave Student Loans is simplifying the student loan experience so students can get on with what matters most: preparing for a bright future. As a fintech lending company with a sole focus on private student loans, we’re using technology and our deep industry expertise to connect families who need to cover education costs with lenders who can provide that funding. By specializing in student loans, we are able to give our customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual: we help you find your perfect fit. We offer competitive rates, a wide range of repayment options, and a customer-friendly experience from application through repayment. Visit: www.collegeavestudentloans.com.
About Barnes & Noble College
Barnes & Noble College, a Barnes & Noble Education company (NYSE:BNED), is a leading operator of college bookstores in the United States. Barnes & Noble College currently operates 781 campus bookstores and the school-branded e-commerce sites for each store, serving more than 5 million college students and faculty nationwide. General information on Barnes & Noble College can be obtained by visiting the Company’s website: www.bncollege.com.