Student Loans

Pay for a higher education degree with a student loan from College Ave. Our loans have multiple repayment and loan term options, plus a simple 3 minute application to make it easy. And we never charge origination or application fees.

Students

Here’s our current student loan interest rates:

Variable rates

5.59%

to 16.65% APR

Fixed rates

4.11%

to 15.44% APR

*all rates shown include auto pay discount1

What do Student Loans Cover?

Student Loans cover most expenses directly related to a student's education.

What's Covered

  • Tuition and fees
  • Food and housing
  • Rent, bills and utilities
  • Meal plan or groceries
  • Books and supplies
  • Equipment (like a computer or printer)
  • Transportation

What's Not Covered

  • Paying off Debt (like Credit Cards)
  • Spring Break
  • Buying New Clothes

Difference Between Private & Federal Student Loans

Federal loans carry unique benefits like income-based repayment options and public service forgiveness that are not available on private student loans.
 
Once you’ve exhausted federal student loans in the student’s name, you can consider private student loans as an option to fill your financing gap.

College Ave Private Student Loans

Loans provided by private lenders (like College Ave Student Loans) instead of the federal government.

  • Money comes from a bank.
  • Online 3 Minutes Application.
  • No origination fees.
  • Choice of Variable & Fixed Rates.
  • Credit check required. (undergraduates will likely need a cosigner)

Federal Student Loans

A federal student loan is money borrowed from the federal government to help pay for your education, that must be repaid with interest.

  • Money comes from the government.
  • You need to fill out a FAFSA.
  • Only fixed interest rates offered.
  • Credit Check for Direct Plus loans only. (graduate students and parents)

How to Qualify For Student Loans

money in hand icon

Eligibility for private student loans differs according to the lender, but factors include:

  • Creditworthiness
  • Financial History
  • Enrollment Status
federal building icon

Eligibility for federal student loans is determined by the FAFSA (or Free Application for Federal Student Aid) and some is based on financial need.

Most undergraduate students will need a cosigner since they don’t have the credit history or income requirements to qualify on their own for a private student loan.

student at desk

Frequently Asked Questions

  • What is a student loan?

    A student loan is a type of loan designed specifically to help students pay for post-secondary education and the associated fees, such as tuition, books, and living expenses. These loans are often offered at lower interest rates and have more flexible repayment terms than other types of loans.

  • Should I pay for school with student loans or other financial aid?

    Deciding between student loans and other forms of financial aid depends on your personal financial situation, the cost of your education, and the types of aid you're eligible for. Scholarships, grants, and work-study programs are preferable as they don't need to be repaid, but student loans can be a valuable tool if these options don't cover all your expenses.

  • Will I need a cosigner for a student loan?

    Whether you need a cosigner for a student loan typically depends on the type of loan and your credit history. Federal student loans usually don't require a cosigner, but private student loans often do, especially for students with limited or no credit history.

  • How do I apply for student loans?

    To apply for student loans, start by completing the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for federal loans, grants, and work-study programs. For private loans, you'll need to apply directly through a bank, credit union, or online lender, and the process will vary by lender.

  • What should I know about the Federal Student Loan repayment pause?

    The Federal Student Loan repayment pause was a temporary suspension of loan payments, interest accrual, and collections on defaulted loans due to the COVID-19 pandemic. It's important to stay updated on the current status of this pause, as it has been subject to extensions and policy changes, and to understand how it impacts your loan repayment strategy.

What parents and students are saying about us.

Easy and quick process

This is our 3rd student loan with CollegeAve. The most important part is, their process is very easy and it's quick as well to find the decision after pre-approval compared to other providers who generally takes many days before even you know the final decision. Thank you, College Ave team.

Anu

07/28/23

College Ave is a great place to get a student loan

College Ave is a great place to get money for students. The staff is so genuine, friendly and knowledgeable. They put you at ease. It takes the pressure off how am I going to pay for this semester or this year. It's a God sent. The application process is very easy and you don't feel violated or manipulated . And once the application process is finished you find out immediately if you have been approved. I don't know what I would have done if I didn't have College Ave.

Daisy

06/15/23

Highly recommend

I highly recommend College Ave for a student loan. The process was simple and quick. Not a lot of red tape. I like that my student was directly involved as well. Of course we discussed all the options but she ultimately made the decision herself. A good lesson in adulting.

Sandra

05/29/23

sitting student

Let's get started, you've got this.

Prequalify

Footnotes

1

Variable rates may increase after consummation. 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. If a payment is returned, you will lose this benefit.

2

$5,000 is the minimum requirement to refinance. The maximum loan amount is $500,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, $300,000 for other graduate or professional degrees, and $150,000 for all other undergraduate or graduate degrees. Information advertised valid as of 11/01/2023.

3

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 6.5% Annual Percentage Rate ("APR"): 120 monthly payments of $454.19 while in the repayment period, for a total amount of payments of $54,503.03. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

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