College Ave is an online lender that offers student loans for college, graduate school, and career programs, along with parent loans and student loan refinancing. It stands out for competitive interest rates and flexible repayment terms, and none of its loans charge origination or prepayment fees. As with many private student loans, undergraduate students will likely need to apply with a cosigner to get approved. If you’re looking to borrow or refinance student loans, College Ave is worth exploring. Here’s a deep dive on what the lender offers.
College Ave overview
Founded in 2014, College Ave is an online lender that specializes in student loans and student loan refinancing. It offers a variety of loans for undergraduate and graduate students, along with career loans and parent loans.
This lender stands out for its quick, easy application, repayment flexibility and competitive interest rates. You can choose among several loan terms and may qualify for a grace period anywhere from six to 12 or even 36 months, depending on your loan type.
You can generally borrow up to your school’s cost of attendance, minus other financial aid you receive. If you still need funds after maxing out federal financial aid, a private student loan from College Ave could close the gap.
College Ave at a glance
| Feature | Details |
| Loan types | Undergraduate, dental, MBA, health professions, law, medical & veterinary, STEM, master’s & PhD, career, parent, student loan refinancing |
| Loan amounts | Up to cost of attendance, minus other financial aid receivedRefinancing requires minimum loan amount of $5,000 and maximum of $150,000, $300,000, or $500,000, depending on degree |
| Repayment terms | 5–20 years, depending on the loan type |
| Rate discounts | 0.25% rate discount for autopay |
| Grace period | 6 – 36 months, depending on the loan typeParent loans don’t have a grace period |
| Fees | No origination fees; no prepayment penalties. late payment fees of 5% of unpaid amount or $25, whichever is less |
| Availability | All 50 states |
| Better Business Bureau rating | A+ |
* Better Business Bureau (BBB) ratings are accurate as of August 17, 2026.
Student loan options
College Ave offers a wide range of student loans, along with student loan refinancing.
Undergraduate loans
Eligible undergraduate students can borrow up to their school-certified cost of attendance, minus other financial aid received. Unless you can meet College Ave’s financial requirements on your own, you may need a cosigner to qualify. You may also qualify for multi-year approval, which simplifies the borrowing process for subsequent years in school.
Graduate loans
College Ave also offers student loans for graduate and professional programs, such as:
- Dental
- MBA
- Health professions
- Law
- Medical & veterinary
- STEM
- Master’s & PhD.
Some of these loans have features that are tailored to the specific program. For instance, medical and veterinary students can get a 36-month grace period and the option to fully defer payments during residency or fellowship.
Career loans
College Ave provides career loans for students in associates, bachelors and graduate programs at eligible colleges and universities. Its undergraduate and graduate career loans have a maximum borrowing limit of $100,000, while its graduate health professions career loans can go up to $150,000.
Parent loans
Parents who want to help their child cover college costs can take out parent loans from College Ave. These parent loans are less flexible than student loans, as they don’t have a grace period and only have two repayment term options of five or 15 years. While the child is in school, parents must make either interest-only or full payments.
Student loan refinancing
If you already borrowed student loans and are looking for a better rate, College Ave may be able to help. It lets you refinance student loans starting at a minimum of $5,000. You can choose between fixed and variable rates and repayment terms from five to 20 years.
Refinancing student loans has several potential benefits, like lowering your interest rate and simplifying repayment. Be cautious about refinancing federal student loans, though, as doing so means losing access to federal repayment plans, forgiveness programs, and other benefits.
Interest rates, fees and discounts
Fixed vs. variable rates
If you borrow or refinance from College Ave, you can choose between a fixed and variable interest rate. Fixed rates stay the same over the life of your loan, while variable rates can change with market conditions.
As of the time of writing, College Ave offers rates ranging from 1.97% to 17.99% APR for undergraduate students and 2.09% to 15.99% for graduate borrowers. Student loan refinancing rates currently range from 6.99% to 13.99% APR.
Available discounts
If you use autopay, you can get 0.25 percentage points knocked off your interest rate. Autopay lets the lender withdraw payments from your bank account automatically when they’re due each month.
Fees
College Ave doesn’t charge origination fees on its loans, and there’s no penalty for paying off your loan early. It does charge late fees of 5% of the unpaid amount or $25, whichever is less, if your payment is more than 15 days overdue.
Repayment options
In-school repayment options
Undergraduate and graduate borrowers can choose between four in-school repayment options:
- Deferred: Postpone payments while you’re in school and for six to 36 months afterward, depending on the loan type.
- Interest-only: Pay off interest charges to cut down on your borrowing costs.
- Flat monthly payment: Pay $25 per month toward your loans while in school.
- Immediate repayment: Make full principal-and-interest payments as a student.
For parent borrowers, the only two options are interest-only payments or immediate repayment while the student is in school.
Repayment term lengths
You can choose a repayment term of five, eight, 10, or 15 years on most College Ave student loans. Some graduate loans offer a term as long as 20 years, while parent loans only have terms of five or 15 years. If you refinance student loans with College Ave, you can select repayment terms from five to 20 years.
Grace period
A grace period lets you temporarily defer payments after you graduate or leave school. The grace period you get on a College Ave loan varies depending on the type of loan:
- Undergraduate and career loans: 6 months
- Graduate, MBA, law, health professions, and STEM loans: 9 months
- Dental loans: 12 months
- Medical loans: 36 months
- Parent loans: None
Cosigner release
If you apply with a cosigner, you may be able to release the cosigner from the loan after half your repayment term has elapsed. A few other requirements include:
- You’re a U.S. citizen or permanent resident
- Your annual income is at least twice as much as your loan balance
- You can pass College Ave’s credit review
College Ave will let you know its decision after you apply and provide your documentation.
Hardship assistance
If you run into financial hardship, College Ave has options that can help, including forbearance in three- or six-month increments. You may also postpone payments through deferment if you’re a graduate student, military personnel, or other qualifying borrower. Keep in mind that interest continues to accrue on private student loans during forbearance and deferment.
In the event of death or permanent disability of the primary borrower, College Ave will forgive the remaining balance of the loan.
Eligibility requirements
Credit score
College Ave doesn’t disclose a minimum credit score for borrowers, but it does state that cosigners must have a score in the mid-600s or higher. A stronger score will help you get approved and access better interest rates.
Income requirements
You also won’t find a specific income minimum, but College Ave does consider income during the application process. If you don’t pass its income check, you may need to apply with a cosigner.
Cosigner requirements
Cosigners must have a credit score in the mid-600s or higher. College Ave looks at a variety of factors when considering a student loan or refinancing application.
School eligibility
To borrow from College Ave, you must be attending an accredited college or university within the U.S. You can find the full list of eligible schools here.
Application process
You can prequalify for a student loan or refinancing on College Ave’s website in a matter of minutes. Prequalifying lets you see preliminary offers without dinging your credit.
If you see an offer you’d like to move forward with, you can fill out a full loan application with your information (and your cosigner’s details, if applicable). This may include:
- Contact information
- Social Security number
- Estimate of your annual income
- School name
- Date you expect to graduate
- Requested loan amount
After you apply, College Ave will run a hard credit inquiry to check your credit, which could reduce your credit score by a few points. If you’re approved, College Ave will send a request to your school to certify its cost of attendance.
After this certification and a six-day “right to cancel” period, College Ave will send the funds to your school within two business days. The exact timing can vary, but the lender recommends applying for student loans at least 30 days before classes begin.
Customer experience
Mobile app
College Ave offers a mobile app in the Apple App Store and Google Play. You can use it to track your applications, make payments, set up autopay, and update your contact information. Reviews on the app are mixed, with some users complaining that the app frequently freezes or fails to update and others citing positive experiences.
Customer support
You can reach College Ave’s customer support via phone by calling 844-422-7502 or texting 726-227-2275. You can also send an email or live chat on College Ave’s website. The support team is available Monday through Friday from 9 am to 9 pm.
Customer reviews
College Ave has a strong rating of 4.5 stars out of five on TrustPilot based on over 3,500 reviews. Many reviewers said the loan application was fast and easy and the customer support team was helpful. Some complaints focused on high interest rates or an unexpected change in terms when moving from the prequalification stage to the final loan offer.
The lender doesn’t fare as well on the BBB with a rating of 3.17 stars based on around 50 reviews. Some customers said they got stuck with high interest rates or had a subpar experience with the lender once their loans entered repayment. More satisfied reviewers said they qualified for a low interest rate or were able to get their loan quickly after applying.
Pros and cons
Pros
- Low starting rates: Rates can start as low as 1.97% on undergraduate loans and 2.09% on graduate school loans, as of the time of writing.
- Customized loan types: College Ave offers a wide range of loans for different programs, including undergraduate, MBA, veterinary, STEM, and career loans.
- Flexible repayment terms: You can choose terms between five and 15 or 20 years and may have a grace period anywhere from six to 36 months, depending on the loan type.
- Hardship options: Borrowers who run into financial hardship, go back to school, or join the military may qualify for temporary relief from payments.
- Online prequalification: You can check your potential rates and terms with no impact on your credit score.
Cons
- High maximum rates: Currently, the rate on a College Ave student loan can go as high as 17.99%.
- May need cosigner to qualify: You’ll need to apply with a creditworthy cosigner if you don’t pass College Ave’s credit and income check on your own.
- Parent loans are less flexible: Parent loans have fewer repayment options and no grace period.
- Cosigner release may take a while: You’ll have to wait until half your repayment term has gone by before you can apply to take your cosigner off the loan agreement.
How College Ave compares
Here’s how College Ave stacks up against two other private lenders, SoFi and Sallie Mae.
| Feature | College Ave | SoFi | Sallie Mae |
| Fixed/Variable APR | Both | Both | Both |
| Cosigner release | Can apply after half of repayment term has elapsed | Can apply after 12 consecutive on-time payments | Can apply after 12 consecutive on-time payments or lump sum payment that equals 12 payments |
| Parent loans | Yes | Yes | Yes |
| Refinance | Yes | Yes | No |
| Fees | No origination or prepayment fees, but late fees apply | No origination, prepayment, or late fees | No origination or prepayment fees, but late fees apply |
| Repayment flexibility | Very flexible | Very flexible | Less flexible |
It’s always worth checking your rates with multiple lenders to find the best deal on a student loan. College Ave currently has the lowest starting rates, but SoFi doesn’t charge late fees and offers a faster path to cosigner release. Sallie Mae also has a more flexible cosigner release policy, but it doesn’t offer student loan refinancing.
Is College Ave right for you?
Whether College Ave is right for you depends on your borrowing needs.
- First-time college students: College Ave can fill a funding gap after you’ve maxed out federal financial aid, but you’ll likely need to apply with a cosigner.
- Graduate students: You may appreciate College Ave’s specialized student loans for different degree programs and flexible grace periods.
- Parents borrowing for college: Parents should keep in mind that College Ave requires at least interest-only payments while their child is in school.
- Borrowers with excellent credit: College Ave may be a good fit, as excellent credit could qualify you for its lowest rates.
- Borrowers using a cosigner: A cosigner can help you get approved and potentially access better rates, but keep in mind that it may take several years before you’re eligible for cosigner release.
- Refinance borrowers: Refinancing with College Ave is worth exploring if you’re looking to lower your rates, don’t need federal protections, and want to refinance at least $5,000.
Bottom line
College Ave is one of the more flexible private student loan lenders out there, especially when it comes to repayment terms and specialized loan options. It offers competitive rates and online prequalification that won’t ding your credit.
Its main drawback is a relatively restrictive cosigner release policy. It also has less flexible terms on parent loans, though this isn’t uncommon among private lenders.
Overall, College Ave is certainly worth checking out if you’re looking for a private student loan or refinancing. At the same time, it’s always wise to shop around and compare rates from multiple lenders before you make your final decision.
FAQs about College Ave
Is College Ave a legitimate student loan company?
Yes, College Ave is a legitimate student loan company that has been operating since 2014 and has an A+ from the Better Business Bureau. It partners with Firstrust Bank, First Citizens Community Bank, and BTG Pactual Bank, N.A. to provide student loans, all members FDIC.
Does College Ave require a cosigner?
College Ave may require a cosigner if you don’t meet its financial requirements on your own. According to the Enterval Private Student Loan Report, 96% of undergraduates and 73% of graduate students borrow private student loans with a cosigner.
Does College Ave offer student loan refinancing?
Yes, College Ave offers student loan refinancing starting at a balance of $5,000.
Can you pay off a College Ave loan early?
Yes, you can pay off a College Ave loan early without any prepayment penalties. You may need to instruct your loan servicer to apply your extra payment to your principal balance rather than save it for a future payment.
What credit score do you need for College Ave?
College Ave doesn’t disclose a minimum credit score for borrowers, but it requires cosigners to have a score in the mid-600s or higher.