New loans for graduate students pursuing degrees in business, dentistry, medicine and law may save borrowers money over federal Grad PLUS loans
(Wilmington, DE) June 4, 2019
College Ave Student Loans, a leading fintech lender in student loans, today announced new financing options for graduate students pursuing degrees in business, law, medicine, and dentistry. College Ave Student Loans’ graduate student loans feature unique benefits for those pursuing an advanced degree, including extended grace and deferment periods, longer repayment plans, and a higher aggregate loan limit. The new suite of specialized graduate student loans were developed after listening to the specific needs of customers and complement College Ave’s existing student loan offering. And, with no origination fees or application costs, graduate student loans from College Ave could save qualified borrowers money over federal Grad PLUS loans.
“Specialty graduate school programs are often one of the biggest investment’s a student makes in his or her education and career,” said Joe DePaulo, CEO and Co-Founder of College Ave Student Loans. “To develop our suite, we asked our network of schools the specific financing needs of graduate students that are not being met. Their feedback was crucial in the development of our products and giving these borrowers more flexible repayment options as they launch their professional career.”
College Ave Student Loans new suite of graduate student loans and their major benefits for the 2019-2020 school year are the following:
College Ave MBA Loan
- Low fixed and variable rates
- Higher aggregate loan limit increases eligibility
College Ave Medical School Loan
- Low fixed and variable rates
- 36-month grace period upon leaving school with option to add up to 48 months of deferment for residency
- 20-year loan term option offers lower monthly payments
College Ave Dental School Loan
- Low fixed and variable rates
- Longer 12-month grace period upon leaving school
- Flexible 24-month deferment for residency
- 20-year loan term option offers lower monthly payments
College Ave Law School Loan
- Low fixed and variable rates
- Flexible 12-month deferment for clerkship
- 20-year loan term option offers lower monthly payments
College Ave’s graduate loans fill a gap when it comes to financing an advanced degree: 43% plan to take out a federal loan and 10% plan to use a private student loan, according to a national survey of 1,008 graduate students by College Ave Student Loans conducted by Barnes & Noble College InsightsSM. And for some, the amount borrowed nears six figures – of those that borrowed, nearly 1 out of 4 (24%) expect to borrow more than $90,000.
Despite the difficult financial choices, graduate students agree the investment will literally pay off by helping them launch the career they want (82%) and increasing their ability to earn a higher income (81%).
For more information about ways to plan and pay for graduate studies, visit the resources at College Ave Student Loans: https://casl-redesign:8888.
About the Survey
The College Ave Student Loans survey was conducted by Barnes & Noble College Insights(SM). The national survey had 1,008 parents of college students respondents and was fielded in April 2019.
About College Ave Student Loans
College Ave Student Loans is simplifying the student loan experience so students can get on with what matters most: preparing for a bright future. As a fintech lending company with a sole focus on private student loans, we’re using technology and our deep industry expertise to connect families who need to cover education costs with lenders who can provide that funding. By specializing in student loans, we are able to give our customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual: we help you find your perfect fit. We offer competitive rates, a wide range of repayment options, and a customer-friendly experience from application through repayment. Visit: www.collegeavestudentloans.com.
About Barnes & Noble College
Barnes & Noble College, a Barnes & Noble Education company (NYSE:BNED), is a leading operator of college bookstores in the United States. Barnes & Noble College currently operates 773 campus bookstores and the school-branded e-commerce sites for each store, serving more than 5 million college students and faculty nationwide. General information on Barnes & Noble College can be obtained by visiting the Company’s website: www.bncollege.com.
Media ContactsKatherine Jacobs, College Ave Student Loans, [email protected], (302) 684-6066
Emily Hollenbeck, Duffy & Shanley, Inc., [email protected], (401) 278-4432