A 1% principal balance reduction will be applied as a statement credit to your College Ave Loan upon validation that you have completed your Undergraduate or Graduate degree program. Maximum one reward per student borrower.
College Ave will use information reported through the National Student Clearinghouse File and your loan application to determine if you have successfully completed your degree.
To redeem your reward:
- College Ave will contact you via email to request verification that you have successfully completed your degree.
- If you have completed your program, send an email to [email protected]. Be sure to include your Loan ID and a copy of your transcripts. Once your statement credit is applied, we’ll send you an email confirmation.
- If you do not receive the College Ave Email within 90 days after you complete your degree, you must contact College Ave at [email protected] to request the College Ave Email.
Within 60 days of receiving your final transcript, College Ave will apply a statement credit to your College Ave student loan, provided that all reward eligibility criteria are satisfied.
To qualify for the reward, you must successfully complete your degree no later than 5 years from the date of the first loan disbursement to the school.
You may change majors and/or transfer to a different school, but you must obtain at least the same level of degree or greater as your College Ave loan was intended to fund within the 5-year period.
The loan must not have been paid off, refinanced, or consolidated prior to redeeming the reward.
Please be advised this reward may be considered taxable income. We recommend you consult a tax professional for tax advice.
These Terms & Conditions are subject to change without notice. We may change them at any time including, but not limited to, discontinuing the program, changing the redemption method, or imposing additional conditions.