Repaying Your Loan FAQs

  • Who is UAS? Why am I receiving mail and emails from them?

    University Account Service (UAS) is the company that College Ave Student Loans partners with to service your loans. UAS is a leading student loan servicing company, and they are responsible for sending statements, processing payments, and providing general account guidance. College Ave and UAS have a strong partnership focused on giving you clear information and excellent service.

  • How can I access my UAS account online? What is your Customer Service website?


    When you are visiting the UAS website for the first time, you’ll need to set up a username and password. The borrower and the cosigner (if there is one) would each need to set up an account.

  • What address do I send payments to?

    College Ave Student Loans
    PO Box 5863
    Carol Stream, IL 60197-5863

    We also have many other ways of accepting payments (see below), including online payments.

  • What are the different ways I can make a payment?

    We offer many options for making payments. You can:

    • Set up Recurring Payments (also known as “auto debit” or “auto pay”) on our Customer Service site to automatically withdraw payments from your bank account and receive a 0.25% reduction in your interest rate.
    • Make one-time payments on our Customer Service site by using an eCheck from your bank account or by using a credit card.
    • Mail a check (with remit slip from statement). If you don’t have your remit slip, put your Document ID in the memo field of the check. It may take a few business days for us to receive payments made via mail.
    • Use an online billpay service through your bank. It may take a couple of business days for us to receive payments made through online billpay. Enter your Document ID (not your account number) when you set up the account Pay To information.
    • Call our toll free Customer Service line (844-717-3679) to make an automated payment by phone 24/7; or pay through a Customer Service Representative (M-F, 8AM-6PM ET).
  • What is the difference between my Document ID and my Account Number?

    Your Document ID, which is found in the top right corner of your statement, links any actions (e.g. payments) to all of the loans related to you; whereas, the Account Number is specific to a single loan. Unless you are trying to take an action on a specific loan, we recommend that you use your Document ID.

  • My cosigner and I have received identical statements. Are we supposed to pay both of them or just one?

    You just need to pay one.

    We send the same monthly statement to both the borrower and the cosigner to make sure that all liable parties are kept up to date about the status of the loan. Only one payment is required; the borrower and the cosigner will need to coordinate the payment process. While this may cause some confusion on the first statement, we think it’s important that both parties clearly understand the loan status each month.

  • How do I set up e-delivery for statements? How do I stop getting paper statements?

    You may change your Statement Delivery preferences through our Customer Service site. Under the “Account” tab, select “Settings” and choose “Update Document Delivery Method”.

  • How do I set up Recurring Payments (aka automatic debit or auto-pay) from my bank account for my loan payment(s)?

    Setting up Recurring Payments (aka automatic debit or auto-pay) from your bank account can be done on our Customer Service site.

    Step 1: Establish an online account, if you do not have one already

    Step 2: Go to the Payments dropdown at the top of the page and select “Bank Accounts”

    Step 3: Click the Create New Bank Account” button and fill out the required information. You’ll need to fill out your routing and account number, which you can find on your checks. Click the “Create Bank Account” button when you have completed the form.

    Step 4: Go to the Payments dropdown at the top of the page and select “Recurring Payments”

    Step 5: Click the “Create New Recurring Payment” button and you will be able to set up your payment frequency, amount, and any limits you want.

  • What are the benefits to setting up Recurring Payments (aka automatic debit or auto-pay) for my loan payment(s)?

    If you set up automatic payments through UAS, our servicing partner, you will receive a 0.25% interest rate reduction that is effective from the day that you establish the recurring payment.

  • How do I know if my 0.25% rate reduction for setting up automatic deductions has been processed?

    The interest rate on your statement displays the active rate on the loan. You can compare the interest rate on the first statement you received after setting up Recurring Payments to the previous one to confirm the rate reduction.

  • Is there a penalty for paying more than the amount due?

    There is no penalty for paying more than the amount due.

  • When do you apply payments to my account?

    All payments received prior to 6 PM ET are effective that day, payments received after 6 PM ET are effective the next day.

  • Do you have a prepayment penalty?

    No, we encourage our customers to minimize the total cost of their loan by making extra payments.

  • How do payments get applied to my account?

    All payments are applied to your loan in the following order to: 1) reduce any unpaid fees and charges, 2) reduce any accrued interest 3) reduce the principal balance. Once the fees, charges, and interest have been satisfied, the remaining amount applies to your principal balance.

    For example, if on the day that your payment is received, you have $10 in unpaid fees and $30 in accrued interest, the remaining payment amount above $40 is applied to principal. A $90 payment would reduce your principal balance by $50; a $200 payment would reduce your principal by $160.

  • Can I make a payment that is applied to principal only?

    Not directly. We are required to follow the payment application order described above to cover fees and interest first. In most cases, the extra or overpayment amount will serve to reduce principal.

  • What happens if I pay more than my required amount due?

    Your full payment is immediately applied to your account (see above), and you may also get credit for satisfying future required payments (being “Paid Ahead”). If you are Paid Ahead, no payments will be required for the month(s) that have already been satisfied. However, interest will continue to accrue on your account, you will still get a statement showing your balances and that no payment is required, and you may make additional payments at any time. Paying ahead reduces your principal balance ahead of schedule (and thus reduces the interest cost of your loan), and provides flexibility to your payment schedule.

    Note: If you have set up Recurring Payments and want to continue to have payments withdrawn even if you’re in a “Paid Ahead” status, set your payments to a fixed amount rather than to pay the Monthly Amount Due.

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC, or Liberty Bank, N.A., member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

Information advertised valid as of 10/3/2016. Variable interest rates may increase after consummation.