Parent Loan Possibilities

You raised the student, we raised the bar on loans to pay for school. With your strong credit, you can help pay for your child’s education with a customized parent loan. Like our other loans, we never charge origination fees and provide repayment flexibility. Even better, we give you the option to get up to $2,500 of the loan1 delivered straight to you so you control the spending on extra education expenses like books, electronics, or dorm supplies. Ready to get started? Our application takes just three minutes and you’ll get an instant credit decision.

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INTEREST RATES

Variable Rates Icon

Variable Rates

4.63% - 9.53% APR

Fixed Rates Icon

Fixed Rates

6.50% - 11.56% APR

(all rates shown include auto-pay discount)2

Cosigning On a Loan vs. Taking Out a Parent Loan

As a parent, you want only the best for your child. Starting college can be an exciting milestone, and if you’re pitching in financially, you’ll want to explore all of your options. Many parents use student loans as a way to help pay for their kid’s college.

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diverse group of people
Rates & Repayments

Make your Payments work for you

The way you repay your parent loan drives how much you can save long-term. If you start making payments sooner, or pay more each month, you can lower the cost of the loan over time. But if your monthly budget requires an option that’s more flexible, we can guide you to a loan that works better for you.

Repayment Options

Interest Only Payment

Pay just the interest charges each month while your child is in school to manage your monthly budget.

Keypoints
  • Lowest in-school payment
  • Highest overall cost
Interest Plus Payment

As long as you cover at least the interest charges each month, we'll let you set your own monthly payment while your child is in school.3

Keypoints
  • Moderate in-school payment
  • Moderate overall cost
Full Principal & Interest Payment

Start repaying your principal and interest right away to save the most.

Keypoints
  • Highest monthly payment
  • Lowest overall cost

Repayment Options That Work For You

How many years will it take you to pay back your parent loan? We'll help you choose the right loan-term that works with your life.

Save more
Save More Overall

Save on total interest but make bigger monthly payments

  • Between 5 and 15 years4
Pay Less
Pay Less Monthly

Make smaller monthly payments but pay more in interest overall

82%

of all customers choose a repayment term of 10 years or less

97%

of borrowers are making on time payments

calculator

We Offer Major Help And Minor Stress

We’ll help guide you through the process to find the right loan term, interest rate, and payments right for you and the family budget.

SEE HOW YOUR LOAN COULD WORK

No Surprises Here

Here are some key dates to plan for prior to sending your student off to school.

school building 60 - 90 days

Shop around for the right loan using our prequalification tool to see your estimated rates.

car of people moving 30 - 45 days

By now, you should have received a tuition bill. Apply for a loan here in 3 minutes. When your loan is approved, we'll work with the school to certify the loan.

building 10 - 14 days

Make sure you've received confirmation that the money is scheduled to be sent to your school.

How We Compare With Other Lenders

Lenders

College Ave Student Loans
SallieMae
Well Fargo
Choice of fixed or variable interest rates
Yes
Yes
Yes
Choice of loan terms (years of repay)
11
No
No
Loan funds for tuition & fees are sent to the school
Yes
Yes
No
Loan funds for extra expenses can be sent to you
Yes
No
Yes
Fees to apply
None
None
None

Comparisons based on information obtained on lenders' websites as of April 5, 2019

College Ave Student Loans

Choice of fixed or variable interest rates

Yes

Choice of loan terms (years of repay)

11

Loan funds for tuition & fees are sent to the school

Yes

Loan funds for extra expenses can be sent to you

Yes

Fees to apply

None

SallieMae
Yes
No
Yes
No

None

Well Fargo
Yes
No
No
Yes

None

Comparisons based on information obtained on lenders' websites as of April 5, 2019

SS

Shannon S.

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Outstanding Service!!!

College Avenue is very user friendly and great customer service. I had no problems at all with my daughter's college loan :)

RG

Robin G.

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Easy to do

This loan process was so easy and their communication with me was great. I don’t know why anyone has to stress over student loans and getting your child the money you need.

CJ

Carolyn J.

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Parent of Student

This is the 2nd year we have been approved for a Student Loan. The process is very easy and the customer service is Awesome. Everyone was so helpful. The email confirmations take the guess work out of What is happening with my Loan.

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Are international students or cosigners eligible for your loans?

International students with a valid US social security number are eligible to apply for a student loan with College Ave Student Loans.

In order to be approved for a College Ave student loan, an international student will be required to apply with a qualified cosigner.

How much of my education costs will this loan cover?

Credit-worthy applicants can borrow up to 100% of the school-certified cost of attendance5, which typically includes things like tuition and fees, books and supplies, room and board, transportation and personal expenses. The minimum amount you can borrow is $1,000.5

  1. In order to receive up to $2,500 direct, a valid bank account must be designated for direct deposit of funds, and $1,000 or more must be certified by, and scheduled for direct disbursement to, the school.
  2. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
  3. You can elect a set monthly payment amount of “Interest Plus” in increments of $20. If you select a variable rate loan, note that we require you to pay at least the monthly interest charges during the in-school period, so your minimum monthly payment due will be the “Interest Plus” monthly payment amount that you selected or the interest due, whichever is greater. Loans will never have a full principal and interest monthly payment of less than $50.
  4. This informational repayment example uses typical loan terms for a parent borrower who selects the Full Principal & Interest Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 6.83% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $114.82 while in the repayment period, for a total amount of payments of $13,778.89. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
  5. As certified by your school and less any other financial aid you might receive. Minimum $1,000.