Updated: April 11, 2025

College Ave Undergraduate Student Loan Review

Undergraduate Student Loans

Pricing disclosure
Check Rates
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include all available discounts.
3.47% - 17.99% 1
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include all available discounts.
4.44% - 17.99% 1
Repayment Terms
5, 8, 10, 15 years 2
Important Information

Rewards: Auto-Debit Discount

Yearly Loan Limits: Covers up to 100% of your Cost of Attendance

Overall Loan Limits: $1,000 (minimum loan amount), does not publish aggregate limit

Cosigner Terms: Cosigner is optional, allows for cosigner release after 24 on-time monthly payments

The bottom line:

College Ave loans are popular undergraduate private student loans, known for competitive rates, flexible repayment options, and quick applications. With a soft credit check, you can receive student loan interest rates without impacting your credit, so it’s worth it to compare College Ave to other lenders. Borrowers generally need a credit score in the mid-600s and $35,000 in annual income to qualify for College Ave student loans.

Pros

  • Can borrow up to the full cost of attendance
  • College Ave provides an auto-debit discount and graduation reward
  • Offers 5-year and 8-year repayment terms (among others)

Cons

  • Capitalizes interest monthly
  • They charge a fee on late payments
  • Requires that you maintain Satisfactory Academic Progress
View full rankings of the best student loans for college
College Ave Ascent Student Loans Earnest
Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include all available discounts.
Fixed:
3.47% - 17.99% 1
Variable:
4.44% - 17.99% 1
Fixed:
3.39% - 13.76%
Variable:
5.01% - 14.02%
Fixed:
3.69% - 16.49%
Variable:
5.62% - 16.85%
Loan repayment terms (Years) 5, 8, 10, 15 years 2 5, 7, 10, 12, 15 years 5, 7, 10, 12, 15 years
Cosigner release? Yes, after 24 months on-time principal and interest payments Yes, after 12 months on-time principal and interest payments None
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College Ave offers undergraduate student loans that are among the best we rate. Their interest rates are below average, and we have found them to be some of the best rates available. They allow you to borrow up to the full cost of attendance at your school, and they offer a range of student loan repayment periods, including 5-year and 8-year repayment terms. And when you graduate, they’ll give you a $150 credit on your statement balance! 

We place them in the top tier of private student loan lenders for those features, among others. Their credit and eligibility requirements are not as strict as those of other lenders we review, and their customer service is also quite good. If you have questions about the loan application process after a long day of work, you can chat with their US-based call center, which is available on weekday evenings. 

Nevertheless, trade-offs are a fact of life. If you miss a student loan payment, College Ave will charge you a late fee, which is not true for every private loan provider we review. And if interest accrues but is unpaid during a forbearance, it will be capitalized monthly, increasing your balance and the interest you must pay on it. College Ave will only lend to you if you maintain Satisfactory Academic Progress, so keep those grades up.

While College Ave offers parent loans, undergraduate borrowers can also have a parent cosign on an undergraduate loan, which is typical for borrowers with a limited credit history.

College Ave - Private Student Loan Details

Interest Rates, Fees and Terms
  • Credit Check: Soft to check rates, hard to process application
  • Repayment Terms: 5, 8, 10, 15 years
  • Minimum Borrowing Limit: $1,000
  • Yearly Borrowing Limit: 100% of Cost of Attendance
  • Aggregate Borrowing Limit: Not specified by lender
  • Application Fee: None
  • Origination Fee: None
  • Prepayment Penalty: None
  • Late Fee: Yes
Requirements to Qualify
  • Minimum Credit Score: Mid-600s
  • Minimum Annual Income: $35,000
  • Maximum Debt-to-Income Ratio: 0.5
  • Citizenship Restriction: Available to Citizens, Permanent Residents, and International Students with a credit-worthy Citizen or Permanent Resident cosigner
  • Minimum Enrollment Restriction: None
  • List of States where Loan is Not Available: None
  • Approved Schools Include: Title IV
Repayment Options
  • Immediate Principal and Interest Repayment: Yes
  • Fixed Monthly Repayment: Yes, 25
  • Interest-Only Repayment: Yes
  • Full Deferment: Yes
Repayment Details
  • Length of Grace Period: 6 months
  • Maximum Deferment Period: Not specified by lender
  • Maximum Forbearance Period: Not specified by lender
  • Cosigner Release Option: Yes, after 24 months on-time principal and interest payments
  • Death Discharge: Yes
  • Disability Discharge: Yes
Customer Service
  • US-Based Call Center: Yes
  • Hours of Operation (in addition to weekdays): Evenings
  • Application Timeline: 3 minutes for credit decision, 10 business days for disbursement
Extras
  • Scholarship Search Tool: None
  • Sponsors a Scholarship: Yes
  • Job and Career Assistance: None
  • Financial Literacy Training: Yes
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Savingforcollege.com provides our readers with free access to objective information, articles and tools to help them make informed decisions about saving and paying for education. We are able to do this because we are compensated by our partners, including some private student lenders. Some, though not all, of the products featured here are offered by partners who may pay us a sales commission. Our partnerships do not influence our ratings or reviews, which are based on in-depth research and objective methodologies, though they may influence which products we write about and where those products appear on our site. Our opinions are our own.