College Ave Reviews: Private Student Loans and Student Loan Refinancing
College Ave offers private student loans with multiple repayment options and lets borrowers refinance at any repayment term between five and 20 years.
Student loan ratings
Private student loan
Student loan refinancing
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Graduate student loan
Dental school loan
Law school loan
MBA loan
Medical school loan
The bottom line: College Ave is an online lender founded in 2014 that offers both private student loans and student loan refinancing. Its private loan is best for students who want to make payments while they're still in school. Its refinance loan is best for borrowers who want a nonstandard loan term — six or nine years, for instance.
Private student loan review
on College Ave's website
College Ave Private Student Loan
4.5
NerdWallet ratingon College Ave's website
Fixed APR
3.49 - 12.99%
Variable APR
1.04 - 11.98%
Min. Credit Score
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- More flexible repayment options than other lenders.
- Six-month grace period extension is available.
Cons
- You must be at least halfway through your repayment term before you can request a co-signer release.
Best for students who want to make payments while they're still in school.
Full Review
College Ave’s undergraduate private student loans are best for those who want to make payments while in school; borrowers can opt for immediate, interest-only and fixed $25 payment plans. You can also defer payments until after graduation.
More than 95% of College Ave undergraduate loans have a co-signer. You must be at least halfway through your repayment term to release the co-signer from the loan, as well as meet additional criteria. For a standard 10-year repayment term, that would mean making at least 5 years of payments, which is longer than other lenders require to release a co-signer.
You could refinance the loan earlier in your repayment term instead. But that would change the terms of the existing loan and require meeting the refinance lender's qualifications.
College Ave private student loans at a glance
Offers personalized rate estimates via a soft credit check.
International students are eligible if they apply with a co-signer who is a U.S. citizen or permanent resident.
Six-month grace period extension is available.
How College Ave could improve
College Ave could improve by offering additional programs such as:
Letting borrowers qualify for co-signer release faster.
Offering more than 12 months of forbearance.
Allowing borrowers who have previously filed for bankruptcy to qualify.
College Ave private student loan details
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. In addition to interest rates, look at lenders’ repayment alternatives and the flexibility they offer to borrowers who struggle to make payments.
How does this loan compare?
Fixed APR3.49 - 12.99% | Fixed APR3.49 - 12.78% |
Variable APR1.04 - 11.98% | Variable APR1.05 - 11.44% |
Min. Credit ScoreMid-600s | Min. Credit Score650 |
Student loan refinancing review
on College Ave's website
College Ave Student Loan Refinance
4.5
NerdWallet ratingon College Ave's website
Fixed APR
3.34 - 6.19%
Variable APR
3.24 - 6.04%
Min. Credit Score
Upper 600s
Pros
- You can choose any loan term between five and 20 years.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- No co-signer release available.
- Students cannot refinance a parent PLUS loan in their name.
- Loans aren’t available in Maine.
Best for borrowers who want a nonstandard loan term — six or nine years, for instance.
Full Review
College Ave lets borrowers choose any repayment term between five and 20 years. That makes refinancing with College Ave a good option if you want a nonstandard term — six or nine years, for instance — that lets you avoid paying more overall by extending your repayment term.
College Ave is not ideal for borrowers who need a co-signer to qualify, as there's no co-signer release program. Student loans must also be in your name to refinance with College Ave, so you'll need to look elsewhere if you want to take over your parent's PLUS loans.
College Ave at a glance
Choose any loan term between five and 20 years.
Offers personalized rate estimates via a soft credit check.
No co-signer release option.
How College Ave could improve
College Ave could improve its student loan refinance product by:
Offering academic deferment to those who return to school.
Refinancing loans for borrowers without a degree, visa holders and those who want to refinance their parents’ PLUS loans.
College Ave student loan refinancing details
Before refinancing with College Ave
Before deciding on a student loan refinance lender, compare multiple student loan refinance options to make sure you’re getting the best rate you qualify for. In addition to interest rates, compare lenders’ repayment options and the flexibility they offer borrowers who are struggling to make payments.
Parent loan review
Best Student Loan for Parents
on College Ave's website
College Ave Parent Student Loan
4.5
NerdWallet ratingon College Ave's website
Fixed APR
3.49 - 12.99%
Variable APR
1.04 - 11.98%
Min. Credit Score
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Up to $2,500 can be disbursed to you directly for school-related expenses.
- You can choose your monthly payment while the student is in school, provided it covers at least the interest.
Cons
- No co-signer option.
- Estate is still responsible for the loan if the parent borrower dies.
Best for parents who want to control some of their student's spending.
Full Review
College Ave parent loans are best if your child needs extra money for college. Parents can take out loans up to the school's cost of attendance, plus an additional $2,500. That extra money is sent to the parent — not the school — to help with school-related expenses, like books or dorm supplies.
You cannot defer a College Ave parent loan while your child is in school, but flexible payment options are available. You can pay just the monthly interest, monthly interest plus a fixed amount (in increments of $20) or full payments. You can also choose any payment term between 5 and 15 years.
College Ave parent student loans at a glance
Offers personalized rate estimates via a soft credit check.
Payments are due immediately.
You can receive $2,500 directly, provided you borrow at least $1,000 that is disbursed to the school.
How College Ave could improve
College Ave could improve by offering additional programs such as:
Discharging student loans if the parent borrower dies or becomes disabled.
Allowing co-signers on parent loans.
Allowing borrowers who have previously filed for bankruptcy to qualify.
College Ave parent student loan details
Before applying for a College Ave parent loan
Before taking out a College Ave parent loan or any other parent student loan, your child should submit the Free Application for Federal Student Aid, known as the FAFSA, and max out their federal loan options. And make sure the loan payments won't stop you from reaching other financial goals, like saving for retirement.
» MORE: NerdWallet’s FAFSA Guide
Compare your private student loan options to make sure you’re getting the best rate you qualify for. In addition to 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 parent loan
If College Ave denies your student loan application, the lender will let you know why. Depending on the reason, you may want to consider other parent loan options 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 specialize in bad or no credit student loans.
Graduate student loan review
on College Ave's website
College Ave Graduate Student Loan
4.5
NerdWallet ratingon College Ave's website
Fixed APR
4.24 - 11.98%
Variable APR
1.89 - 10.97%
Min. Credit Score
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- International students can qualify with a co-signer.
- Nine-month grace period is longer than other lenders offer.
Cons
- You must be at least halfway through your repayment term before you can request a co-signer release.
Best for graduate students who'll need extra time before starting repayment.
Full Review
College Ave offers a student loan for graduate students, as well as specific lending products for medical school, dental school, law school and business school.
The underlying terms of all College Ave graduate student loans are similar. But the individual loans have different interest rate ranges, and the following features also vary:
How long you have to repay. All graduate students can choose a repayment term of 5, 8, 10, or 15 years. But if you're in medical, dental or law school, you also have access to a 20-year repayment term.
When payments start. College Ave graduate, business and law school loans receive a 9-month grace period before payments are due. Dental school loans have a 12-month grace period, and medical school loans get 36 months before payments start.
All graduate students can also receive a 6-month grace period extension after leaving school, while longer deferments are available for law students during clerkships (12 months) and dental and medical students during residency (12 months and 48 months, respectively).
These grace periods are longer than many lenders offer — especially the 9 months for non-health professional students. That makes College Ave a good option if you're a graduate student who'll need extra time before starting repayment.
College Ave graduate student loans at a glance
Offers personalized rate estimates via a soft credit check.
Interest rates vary by graduate school product.
International students are eligible if they apply with a co-signer who is a U.S. citizen or permanent resident.
How College Ave could improve
College Ave could improve by offering additional programs such as:
Letting borrowers qualify for co-signer release faster.
Allowing borrowers who have previously filed for bankruptcy to qualify.
College Ave graduate student loan details
Before applying for a College Ave graduate loan
Before taking out a College Ave graduate student loan or any other private student loan, you'll generally want to 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 graduate student loan options to make sure you’re getting the best rate you qualify for. In addition to 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 graduate student loan
If College Ave denies your student loan application, the lender will let you know why. Depending on the reason, you may want to consider other graduate loan options 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 specialize in bad or no credit student loans.
Dental school loan review
on College Ave's website
College Ave Dental Student Loan
4.5
NerdWallet ratingon College Ave's website
Fixed APR
4.69 - 9.95%
Variable APR
1.89 - 8.99%
Min. Credit Score
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Twelve-month grace period is longer than other lenders offer.
- You can defer payments up to an additional 12 months during residency after your grace period.
Cons
- You must be at least halfway through your repayment term before you can request a co-signer release.
Best for dental students who'll need extra time before starting repayment.
Law school loan review
on College Ave's website
College Ave Law Student Loan
4.5
NerdWallet ratingon College Ave's website
Fixed APR
4.49 - 9.95%
Variable APR
1.89 - 8.99%
Min. Credit Score
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Twelve-month grace period is longer than other lenders offer.
- You can defer payments up to an additional 12 months during clerkship after your grace period.
Cons
- You must be at least halfway through your repayment term before you can request a co-signer release.
Best for law students who'll need extra time before starting repayment.
MBA loan review
on College Ave's website
College Ave MBA Student Loan
4.5
NerdWallet ratingon College Ave's website
Fixed APR
4.14 - 11.98%
Variable APR
1.89 - 8.99%
Min. Credit Score
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- International students can qualify with a co-signer.
- Nine-month grace period is longer than other lenders offer.
Cons
- You must be at least halfway through your repayment term before you can request a co-signer release.
Best for MBA students who'll need extra time before starting repayment.
Medical school loan review
on College Ave's website
College Ave Medical Student Loan
4.5
NerdWallet ratingon College Ave's website
Fixed APR
4.75 - 9.95%
Variable APR
1.89 - 8.99%
Min. Credit Score
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- International students can qualify with a co-signer.
- You can defer payments up to an additional 48 months during fellowship after your grace period.
Cons
- You must be at least halfway through your repayment term before you can request a co-signer release.
Best for med students who'll need extra time before starting repayment.
Student loans ratings methodology
NerdWallet believes the best student loan is one you can repay at the lowest interest rate you can get. That’s why NerdWallet’s student loan ratings reward lenders that offer a variety of loan terms, limit their fees and penalties, and extend borrowers multiple options to avoid default. Points are also awarded for soft credit checks, underwriting transparency and other consumer-friendly features. Use these ratings as a guide, but we encourage you to shop around for the lowest interest rate you can qualify for. NerdWallet does not receive compensation for its reviews. Read our editorial guidelines.
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Frequently asked questions
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.
No. College Ave lends private student loans. Before taking out any private student loan, exhaust federal options first by submitting the Free Application for Federal Student Aid.
College Ave only requires a co-signer if you're an international student. But applying with a co-signer may improve your chances of being approved for a private student loan or qualify you for a lower interest rate.
College Ave does not offer co-signer release on refinanced student loans. Co-signer release is available on other College Ave loans if you’re halfway through your repayment term, have made your previous 24 payments on time and meet additional criteria.