Founded in 2014, fintech College Ave has student loans for parents, undergraduates and graduate students, with a range of repayment terms, from full principal and interest while studying to no in-school payments.
In addition to its lower rates and no co-signing requirement, College Ave is known for its speedy application process: Borrowers can apply and get a decision in as little as three minutes.
We also like that refinancing is available for as much as $500,000 and that, if you're in financial straits, College Ave offers up to a year of forbearance.
- High loan amount
- Flexible repayment terms
- Hardship protections like deferment and forbearance
- No co-signer required for U.S. students
- Offers repayment terms of up to 20 years for graduate student loans (otherwise, up to 15 years for undergraduate loans)
- Co-signer can't be released until half of the repayment term has passed
College Ave's student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term
College Ave pros and cons
- Three-minute application process
- No origination or application fee
- Accepts part-time students
- Refinancing available for up to $500,000 with terms of up to 20 years
- No grace period for parent loans
- Late fees
- Co-signers not released until at least half the loan is repaid
What does College Ave offer student loans for?
College Ave offers undergraduate, graduate and parent loans, as well as financing for dental school, medical school, health profession degrees, laws school, MBA and career training programs
Refinancing is available from $5,000 up to $500,000, depending on the degree
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
Undergraduate and graduate students, parents, health professionals
$5,000 minimum (or up to state); maximum up to cost of attendance
5, 7, 10, 15, years; up to 20 years for refinancing loans
Terms apply.
Undergraduate and graduate students, parents, international students with U.S. co-signer
$1,000 up to the cost of attendance ($180,000 lifelong maximum)
5, 8, 10, 15 years for undergraduate loans, up to 20 years for graduate loans
Terms apply
How to qualify for a College Ave student loan
To be eligible for a College Ave student loan, you must:
- Be 16 or older
- Be a U.S. citizen, permanent resident or DCA recipient, or have a citizen or permanent resident co-sign
- Have a FICO credit score in the mid-600s or apply with a co-signer
- Enrolled at least part-time at a qualifying institution
- Meet the satisfactory academic progress (SAP) requirements set by your school, including a minimum GPA.
Parent loan borrowers must be U.S. citizens or permanent residents and must have a good income and a strong credit history.
College Ave student loan rates, terms and fees
The rates and terms of your College Ave loan will vary based on your academic performance, year in school, credit history and other factors
- APR range: Undergraduate 2.59% - 17.99% fixed; 3.89% to 17.99% variable (including autopay discount). Graduate (and select graduate programs) 2.59% - 15.99% fixed; 3.89% to 15.99% variable (including autopay discount).
- Loan terms: 5,8,10 or 15-year terms for undergraduate, graduate and professional loans. Up to 20 years for law, dental, medical and health profession loans.
- Loan amounts: $1,000 up to 100% of the cost of attendance. Refinancing available from $5,000 up to $500,000, depending on program
- Refinance terms: 5 to 20 years, both fixed and variable rates range from 6.99% to 13.99% APR (autopay discount included)
- Application or origination fee: No
- Prepayment penalty: No
- Late Fee: After 15 days late, a 5% fee or $25 is charged (whichever is less).
College Ave repayment options
College Ave offers several repayment options for undergraduate and graduate loans:
- Deferred repayment: No payments until after graduation and grace period. Borrowers pay more over the life of the loan if interest is accruing during the grace period.
- Interest repayment: Interest-only payments while the student is enrolled in school.
- Flat repayment: Fixed $25 monthly payment while the student is enrolled in school.
- Full principal and interest repayment: Full payments begin immediately after the loan is disbursed.
Monthly interest payments on parent loans are required while a student is in school.
College Ave benefits
College Ave offers several benefits to borrowers
Hardship relief
Grace periods range from 6 to 36 months, depending on the program. Student loans can be deferred while enrolled at least half-time. (Interest payments on parent loans are required while the student is in school.) Loan forgiveness or discharge is available if the borrower dies or experiences a permanent disability.
Multi-year approval
College Ave's Multi-Year Peace of Mind® feature allows undergraduates to be approved for loans to cover their entire degree at once. Borrowers must maintain satisfactory academic progress and undergo a soft credit check each term.
Some 90% of undergraduates with a co-signer are approved, according to College Ave
Ambition Student Mastercard®
With College Ave's Ambition Student Mastercard, on-time payments can build your credit history and cardholders get cash back on all purchases. No credit check or interest or late fees.
Monthly sweepstakes
College Ave offers monthly giveaways to borrowers that can range from $1,000 in gift cards to tech bundles to $5,000 scholarships.
College Ave customer service
College Ave received an A+ rating from the Better Business Bureau for its transparency, honest advertising and communication with customers.
You can reach out via email at servicing@collegeave.com, use the automated chat feature or chat with a live agent at 844-422-7502, Monday to Friday, 9 a.m. to 9 p.m. ET.
How College Ave compares to other student loans
Here's how College Ave stacks up against two other major lenders in the student loan space.
College Ave vs. SoFi
Interest Rates: Eligibility and Important Details. Fixed rates range from 2.98% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.39% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 5/21/2026 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases.
College Ave and SoFi have comparable rates and terms but SoFi doesn't have late payment fees and international students aren't required to have a co-signer.
In addition, SoFi allows parent loans to be transferred, which College Ave doesn't.
If you want to work with a lender that focuses specifically on student loans, College Ave is the better option. But if you like the idea of keeping all your finances together, SoFi has deposit accounts, mortgages personal loans and investment options.
College Ave vs. Sallie Mae
Sallie Mae Student Loan
APR
3.87% to 16.50% variable APR with autopay discount (undergraduate new loan). Other rates and loan types are available. Visit Sallie Mae's website for full details. *Information advertised valid as of 12/26/2025.
Loan types
Undergraduate, graduate, Master's, PhD, MBA, law school, medical school, health professions, dental school, medical and dental residency loans, bar study loans.
Loan amounts
$1,000 up to 100% of the cost of attendance
Loan terms
5 to 15 years
Borrower protections
Deferment and forbearance options available
Co-signer required?
Only for international students and DACA recipients
Offer student loan refinancing?
No
Terms apply.
Read CNBC Select's Sallie Mae student loan review.
College Ave has slightly better average rates than Sallie Mae®* but, perhaps more importantly, it offers private parent loans and student loan refinancing options, neither of which Sallie Mae does.
College Ave also gives borrowers the option to make scheduled loan payments while in school.
If you're having trouble meeting your payments, however, Sallie Mae does offer loan modification, payment extensions and reduced payment plans.
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
College Ave FAQs
What's the most I can borrow from College Ave?
College Ave's private student loan options allow you to borrow up to 100% of the cost of attendance. This includes tuition, fees, books, room and board and any other qualifying educational expenses.
Can College Ave loans be forgiven?
Private student loans from College Ave are not eligible for forgiveness. However, College Ave may discharge a loan in the event of the borrower's death or disability.
Who qualifies for a College Ave loan?
To be eligible for a College Ave student loan, you must be at least 16 years old, be enrolled in an eligible school, have a Social Security number and meet the satisfactory academic progress requirements set forth by your school. Additionally, international students will need a creditworthy co-signer to be approved for. loan.
What are the disadvantages of a College Ave loan?
One of the most significant disadvantages of College Ave loans is that undergraduate loan terms are limited to a maximum of 15 years.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every student loan review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of student loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties and we pride ourselves on our journalistic standards and ethics.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Read more
Information advertised valid as of 11/25/2025. *
Interest Rates: Eligibility and Important Details. Fixed rates range from 2.98% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.39% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 5/21/2026 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans),the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).
