College Ave Undergraduate Student Loan Review

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”cost of attendance at your school, and they offer some pretty attractive repayment options, 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, 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.