Student Loans for College

Pay for a higher education degree with a student loan from College Ave. We offer a range of options, flexible payment terms and a simple process to make it easy.

Our Current Private Student Loan Interest Rates

Variable 3.99%-14.86% APR
Fixed 3.99%-14.96% APR
(all rates shown include auto-pay discount)1

Select a student loan that fits your needs

Why Choose College Ave Student Loans?

Different and Better. A Winning Combo.

Whether you’re a parent or a student looking for a student loan, we’re here for you. We built our private student loans to double-major in support and simplicity so it would be as painless as possible for you. Put our useful tools, faster application, and flexible loan options to the test to find the student loan that fits your needs best. If you have anything other than a straight-A experience, let us know.

Here's what our customers are saying about us
Charles
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College Ave Student Loans

This is the best student loan company we have ever worked with. The paperwork is clear and straightforward. The APR beats any we have ever had. The communication is out of this world; the company gave us regular updates on the loan, so we were never in the dark and we thank you for that.

Garci
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Student loan

Very easy to apply, clear cut choices.

Donna
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Student loans

Very quick and easy application. You can chat with someone to keep on track and answer questions.

Sharon
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Highly recommend

College Ave makes the student loan application very easy and straightforward. I called them with a few questions and the representatives were very polite and knowledgeable.

Renil
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Student loan

Excellent service...fast and easy application. I am so grateful that College Ave could help my son financially complete his college education!

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The Two Types of Student Loans

Federal & Private Student Loans

Federal loans carry unique benefits like income-based repayment options and public service forgiveness that are not available on private student loans.

Once you’ve exhausted federal student loans in the student’s name, you can consider private student loans as an option to fill your financing gap.

Differences Between Private & Federal Student Loans

Loans

College Ave Private Student Loans

Federal Student Loans

Choice of Variable
& Fixed Rates
Yes
No, fixed rates only
Auto-Pay Discount
Yes
Yes
Standard Repayment Terms
Choice of 5 - 15 years2
10 years
Credit Check
Yes
(undergraduates will likely need a cosigner)
Direct PLUS Loans only
(graduate students and parents)
Origination Fees
No
Yes
Application Process
Online 3-minute Application
FAFSA (typically takes 1 hour to complete)

College Ave Private Student Loans

Choice of Variable
& Fixed Rates

Yes

Auto-Pay Discount

Yes

Standard Repayment Terms

Choice of 5 - 15 years2

Credit Check

Yes
(undergraduates will likely need a cosigner)

Origination Fees

No

Application Process

Online 3-minute Application

Federal Student Loans

No, fixed rates only

Yes

10 years

Direct PLUS Loans only
(graduate students and parents)

Yes

FAFSA (typically takes 1 hour to complete)

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What Do Student Loans Cover?

Student loans cover most expenses directly related to a student’s education.

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What Student Loans Cover

  • Tuition
  • Fees
  • Rent, room, and board
  • Bills and utilities
  • Meal plan or groceries
  • Books and supplies
  • Equipment
    (like a computer or printer)
  • Transportation
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What Student Loans Do Not Cover

  • Paying off debt
    (like Credit Cards)
  • Spring break
  • Buying new clothes
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Try Our Student Loan Calculator

Benefits of Student Loans

Student loans offer an opportunity for higher education to those who may not otherwise be able to afford college. They offer immediate financial support for students to invest in themselves and earn a degree that will hopefully jumpstart their future career.

When used responsibly, student loans can also help young people learn to budget and build good credit as they begin to pay off those loans.

Additional Student Loan Information

  • What Is a Student Loan?

    A student loan is money borrowed to pay for school and repaid with interest. There are two types of student loans:

    Federal student loans, which come from the U.S Government.

    Private student loans, which come from private entities such as a bank or credit union.

    They are available for undergraduates, graduate students, parents, and some trade school students.

    Learn more about how student loans work.

  • Student Loan Eligibility

    Eligibility for federal student loans is determined by the FAFSA (Free Application for Federal Financial Aid) and some is based on financial need.

    Eligibility for private student loans differs according to the lender but factors usually include credit, financial history, and enrollment status. Most undergraduates will need a cosigner since they don’t have the credit history or income requirements to qualify on their own for a student loan.

  • Student Loans and Financial Aid

    Student loans are one way to pay for school. Here’s the typical order for securing financial aid, including when to consider taking out student loans.

    1. Start with money you don’t have to pay back. Such as: contributions from family, income and savings, grants and scholarships.
    2. Then, look at federal student loan options, which have low fixed interest rates come with special benefits not available on private loans.
    3. Lastly, consider a private student loan if funds are still needed to cover costs.

    Learn more about when to take out student loans.

  • Student Loan Cosigners

    Many undergrads don’t have the credit history they need to take out a loan on their own, so it can be a good option to find a cosigner.

    Finding a cosigner who has a good credit history can increase your chances of qualifying for a private student loan and even help lower interest rates. The cosigner shares the same responsibility as the student to pay back the student loan.

    Learn more about becoming or finding a student loan cosigner.

  • Student Loan Grace Period

    When you graduate from school or drop below half-time enrollment, you have a period of time where you aren’t required to make full principle and interest payments on your student loan. This period is called the grace period.

    For our undergraduate student loans, College Ave offers a six-month grace period. For most graduate student loans, the grace period is nine months.

    Learn more about how the grace period works.

  • Student Loan Interest Rates

    Interest rates are the cost of a student loan. Federal and private student loans offer different rates.

    Federal student loans come with a fixed rate, which stays the same throughout the life of the loan. It is set at the start of each academic year in July.

    Private student loan interest rates can be fixed or variable, which change according to market forces. Private lenders determine the interest rate based on market factors and the student’s (and cosigner’s) creditworthiness who is borrowing money.

    With College Ave, you can get a 0.25% interest rate reduction if you set up auto-pay for your student loan payments. See how to set up automatic payments to get your 0.25% interest rate reduction.

    Learn more about the difference between fixed and variable student loan interest rates.

  • Student Loan Repayment Terms

    A repayment term is the length of time you agree to repay your student loan.

    The longer the term, the lower the monthly payment but the more the loan will cost overall. The shorter the term, the higher the monthly payment will be and the less the loan will cost overall.

    Federal Student Loans come with a standard 10-year term.

    Different private lenders have their own terms. College Ave has varying repayment terms ranging from 5 years to 15 years depending on which student loan you select. You choose your repayment term when you apply for your College Ave student loan.

  • How to Apply for Student Loans

    To apply for federal student loans, fill out the FAFSA as soon as it becomes available each year.

    The federal deadline is June 30th each year. There are different state and school deadlines, which are earlier, so be sure to check.

    To apply for private student loans, choose a lender and then fill out their application.

    Students may apply for private student loans year-round. Typically, June to August are the most popular times for student loans covering the fall semester.

  • Federal Student Loan Payment Pause

    For certain federal student loans, interest charges and loan payments are suspended. Repayment will restart 60 days after the court cases are resolved or June 30, 2023, whichever comes first. For the most up-to-date information about the COVID-19 relief for federal loans, visit the federal student aid website.

    College Ave is dedicated to providing help for you if COVID-19 has affected your ability to make payments. Please contact us immediately to discuss your options.

  • Federal VS Private Student Loans

    Federal student loans come from the U.S. government and are awarded based on financial need. Private student loans come from private entities such as banks and are based on credit and other financial factors.

    Should I take out federal student loans?

    If you need to borrow to cover college costs, students should borrow federal student loans in the student’s name first. Federal student loans have low fixed rates and come with unique benefits such as income based repayment plans and loan forgiveness, not offered on private student loans. If you need additional money to cover college costs, private student loans are one option to consider.

    Read more to understand the differences between federal vs. private student loans.

  • Considerations For Taking Out Loans

    There are a lot of factors one should consider before going into debt or taking out a student loan. First, consider if you’ve maximized all of your other financial aid options such as scholarships and grants. If you do need to borrow, only borrow what you need. A good rule of thumb is not to borrow in total (both federal and private loans) more than you expect to earn in your first year’s salary after graduation.

    Once you’ve decided to take out student loans, research and choose a lender that works best for you and your individual needs. Next, you’re going to need a way to keep track of exactly how much you’re borrowing, the expected monthly payment and when you will need to pay it back.

    As time goes on, be sure to make your payments on time and keep the most up to date contact information with your loan provider. This will ensure you receive your monthly statements or any notices on your student loans.

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Taking Out Student Loans

To take out a federal student loan, file the FAFSA (Free Application for Federal Student Aid). To take out a private student loan, choose a lender that fits your needs and complete their application process. Learn more

Federal vs. Private Student Loans

Federal student loans come from the U.S. government and are awarded based on financial need. Private student loans come from private entities such as banks and are based on credit and other financial factors. Learn more