Student Loans

If you need to borrow to cover college costs, students should borrow federal student loans in the student’s name first. Federal student loans have low fixed rates and come with unique benefits such as income based repayment plans and loan forgiveness, not offered on private student loans. If you need additional money to cover college costs, private student loans are one option to consider.

Read more to understand the differences between federal vs. private student loans.

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.

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.

To qualify, undergraduate students with a social security number must be enrolled at an eligible school. International students will need to apply with a qualified cosigner that is a U.S. Citizen or a Permanent Resident. All students must meet the satisfactory academic progress (or SAP) guidelines as defined by their school.

A cosigner may be needed for student borrowers who do not meet financial, credit, or other requirements of taking out a private loan.

With College Ave Multi-Year Peace of Mind^® you can get the money you need for your entire degree. 90% of our undergraduate borrowers are approved for additional loans to cover their degree when they apply with a cosigner³. This means less stress for more semesters. This is only available with our Undergraduate Student Loans.