College Ave Private Student Loans: 2026 Review
College Ave student loans include financing for undergraduates, graduate students and parents. It also offers student loan refinancing, with borrowers able to choose a repayment term between five and 20 years.
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Student loan ratings
College Ave has many options to help borrowers pay off student loans faster, which can cut interest costs. College Ave also charges no origination fee and enables applicants to pre-qualify with a soft credit inquiry to see estimated interest rates.
College Ave Private Student Loan review
Pros
- Has more repayment options than many other lenders.
- Offers automatic bi-weekly and greater-than-minimum payments.
- Has a 0.25-percentage-point rate discount with automatic payments.
- Allows borrowers to pre-qualify with a soft credit check.
- No application, origination or prepayment fees.
Cons
- Charges a late payment fee, whereas some competitors do not.
- Doesn’t allow co-signer release until a borrower is at least halfway through their repayment term.
Best for students who want to make payments while they're still in school.
Full College Ave student loan review
College Ave has many borrower-friendly features, and that’s especially important for students who may be new to getting a loan. College Ave borrowers can choose a payment approach that fits their budget, whether that’s making full, interest-only or flat $25 payments each month while in school. Payments can also be fully deferred until after graduation.
Other lenders offer those same options for student loan payments, but not all allow automatic bi-weekly payments and greater-than-minimum payments like College Ave does. From their account settings, borrowers can direct that any overpayments be applied to the loan’s principal instead of the next payment. Having control over repayment options gives borrowers more opportunities to reduce debt faster and lower interest expenses.
Loans offered by College Ave are available for students and their parents to cover undergraduate and graduate degrees. College Ave also has what it calls career loans, which are designed for non-degree-granting programs like trade or technical school. Student loan refinancing is also available through College Ave.
International and Deferred Action for Childhood Arrivals (DACA) students can apply for College Ave loans, but only with a qualified co-signer who is a U.S. citizen or permanent resident.
In our comparison of private student loan lenders, College Ave stands out for its transparency. It shares information such as minimum credit score, income requirements and debt-to-income ratio, which can help borrowers decide if a lender is a good fit.
More about College Ave student loans
Loan and borrower requirements
Loan terms: 5, 10, 15 and 20-year repayment terms available. Graduate school loans vary with some offering a 20-year term. Refinance loans have customized terms with borrowers able to choose between 5 and 20 years. Parent loans offer terms between 5 and 15 years.
Loan amounts: $1,000 up to the cost of attendance. Refinance loan amounts vary by degree program and range from $5,000 up to $500,000. For example, to refinance loans for medical, dental, pharmacy and veterinary doctorate degrees, the maximum amount is $500,000. Graduate or professional degrees have a maximum of $300,000 for refinancing, and all other degrees are a maximum of $150,000.
Minimum credit score: Mid 600s. College Ave says it uses its own credit model that takes into account factors beyond credit score and income when approving loans. It uses “predictive ability to pay indicators,” although it does not disclose exactly what those indicators are.
Minimum income: $35,000 for a borrower with no co-signer. No minimum for a borrower with a co-signer. No minimum for co-signers.
Maximum debt-to-income (DTI) ratio: 45%.
Time requirement after filing for bankruptcy: Does not make loans to borrowers who have filed bankruptcy.
Co-signer: Allows but does not require a co-signer. Approximately 89% of approved borrowers have a co-signer. Co-signer release is available after the borrower is at least halfway through their repayment term.
Payment and repayment
Allows greater-than-minimum payments via autopay: Yes.
Allows bi-weekly payments via autopay: Yes.
Grace period following graduation: Six months including the option to extend the grace period by six additional months.
In-school repayment options: Fully deferred, monthly partial payment of $25, interest-only payment and immediate repayment.
Post-school repayment options:
Permanent loan modification
Interest-only payments
Graduated repayment
Internship deferment
Residency deferment
Administrative forbearance
Natural disaster forbearance
Public service deferment
Temporary lower payments
Skip-a-payment program
Military deferment
Customer experience
Customer service: Has in-house customer service representatives, but borrowers aren’t assigned a dedicated advisor. Also has someone committed to handling customer concerns. Live chat is offered through the website.
Time for application approval: Applicants receive a credit decision immediately upon submitting an application.
Loan servicer: University Accounting Service.
College Ave extras
Scholarship giveaways: College Ave offers scholarships and sweepstake giveaways for students and parents throughout the year.
Lender | Fixed APR | Min. credit score | Variable APR | |
|---|---|---|---|---|
 Check Rate on Sallie Mae's website | 2.89-17.49% | Mid-600s | 3.62-16.25% | Check Rate on Sallie Mae's website |
Check Rate on College Ave's website | 2.59-17.99% | Mid-600s | 3.89-17.99% | Check Rate on College Ave's website |
 Check Rate on Ascent's website | 2.69-16.86% | Low-Mid 600s | 3.65-16.06% | Check Rate on Ascent's website |
Best for faster repayment options  Check Rate on Monogram's website | 3.35-17.17% | 600 | 3.53-17.23% | Check Rate on Monogram's website |
 Check Rate on ELFI's website | 2.99-12.85% | 680 | 6.75-13.05% | Check Rate on ELFI's website |
College Ave Graduate Student Loan review
Pros
- Has longer terms and grace periods to fit the needs of graduate school borrowers.
- Provides flexible repayment options, including automatic bi-weekly and greater-than-minimum payments.
- Offers a 0.25-percentage-point rate discount with automatic payments.
- Allows borrowers to pre-qualify with a soft credit check.
- No application, origination or prepayment fees.
Cons
- Charges a late payment fee, whereas some competitors do not.
- Doesn’t allow co-signer release until a borrower is at least halfway through their repayment term.
Best for graduate students who'll need extra time before starting repayment.
College Ave offers these graduate school loans
Medical | Pharmacy |
Dental | Nursing |
Veterinary | MBA |
Law | STEM |
College Ave recently introduced a STEM graduate loan designed for students pursuing a master’s or doctoral degree in science, technology, engineering or math. The loan offers a nine-month grace period, the option to make payments while in school or defer them until graduation, and repayment terms of 5, 8, 10 or 15 years.
College Ave Parent Student Loan review
Pros
- Offers customized loan terms of 5 to 15 years, or any year in between.
- Enables parents to transfer the loan to the student’s name through refinancing.
- Has monthly payment options of interest-only, interest plus a fixed amount (in increments of $20) or full principal and interest.
- Allows borrowers to pre-qualify with a soft credit check.
- No application, origination or prepayment fees.
Cons
- Parents can’t defer payments while the student is in school.
- Doesn’t offer loans to borrowers with a bankruptcy history.
Best for parents who want to control some of their student's spending.
College Ave Student Loan Refinance review
Pros
- Offers customized loan terms of 5 to 20 years, or any year in between.
- Allows borrowers to pre-qualify with a soft credit check.
- Offers automatic bi-weekly and greater-than-minimum payments.
- Has a 0.25-percentage-point rate discount with automatic payments.
- No application, origination or prepayment fees.
Cons
- Doesn’t allow co-signer release until a borrower is at least halfway through their repayment term.
- Doesn’t offer loans to borrowers with a bankruptcy history.
Best for borrowers who want a nonstandard loan term — six or nine years, for instance.
Before applying for a College Ave student loan
Before taking out a College Ave student loan or any other private student loan, exhaust your federal student loan options first. Submit the Free Application for Federal Student Aid, known as the FAFSA, to apply.
» MORE: NerdWallet’s FAFSA Guide
Compare your private student loan options to make sure you’re getting the best rate you qualify for. Beyond interest rates, look at lenders’ repayment alternatives and the flexibility they offer to borrowers who struggle to make payments.
If you aren’t eligible for a College Ave student loan
If College Ave denies your student loan application, the lender will tell you why. Depending on the reason, you may want to consider other lenders or, if you haven’t already, try applying with a co-signer.
If you don’t have access to a co-signer — or still aren’t eligible with one — consider lenders that don’t require co-signers or those that specialize in bad or no credit student loans.
Frequently asked questions
Are College Ave student loans legit?
College Ave is a legitimate online lender that has been in business since 2014. College Ave offers private undergraduate, graduate and parent student loans while also refinancing existing student loans.
Does College Ave require a co-signer?
College Ave allows co-signers on its private student loans, but it doesn’t require them for all borrowers. Still, about 89% of approved College Ave borrowers apply with a co-signer. Having a co-signer may improve your chances of being approved with a lower interest rate.
College Ave does require international and DACA students to have a qualified co-signer who is a U.S. citizen or permanent resident.
Is College Ave good for flexible repayment of student loans?
College Ave stands out for repayment flexibility, offering multiple in-school payment options, customizable loan terms for some products, and features like bi-weekly and greater-than-minimum automatic payments.