College Ave student loans review 2026

Fintech College  Ave offers undergraduate and graduate students a range of student loan options and repayment terms.

In addition to lower rates and no co-signing requirement, College Ave is known for its speedy application process: Borrowers get a decision in as little as three minutes. And if you're in financial straits, College Ave offers up to a year of forbearance.

College Ave offers undergraduate, graduate, and parent loans, as well as financing for dental school, medical school, health professions degrees, law school, MBAs and career training programs.

Depending on the degree, refinancing is available from $5,000 up to $500,000.

To be eligible for College Ave student loan financing, 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
• Be 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.

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 2.19% - 17.99% fixed and 3.89% to 17.99% variable. Graduate (and select graduate programs): 2.09% - 15.99% fixed and 3.89% to 15.99% variable. (All rates include an 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 to 100% of the cost of attendance. Refinancing available from $5,000 up to $500,000, depending on the 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 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 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 becomes permanently disabled.

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.

According to College Ave, approximately 90% of undergraduates with a co-signer receive multi-year approval.

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 has monthly giveaways for borrowers, with prizes ranging from $1,000 in gift cards to $5,000 scholarships.

College Ave garnered an A+ rating from the Better Business Bureau for its transparency, honest advertising and communication with customers. It received an excellent score of 4.5/5 on Trustpilot, with commentators praising the quick and professional service.

Live agents are available at 844-422-7502, Monday to Friday, 9 a.m. to 9 p.m. ET. There is also an automated chat feature on the College Ave website.

You can make payments and manage your loan on the College Ave mobile app, available for iOS and Android users.

Here's how College Ave stacks up against two other heavy hitters in the student loan space.

College Ave vs. SoFi® Private Student Loans

College Ave and SoFi® Private Student Loans have comparable rates and terms, but SoFi doesn't have late payment fees or require international students to have a co-signer. It also allows parent loans to be transferred to students through refinancing, which College Ave doesn't.

College Ave focuses specifically on education financing, which often means more tailored loan and repayment options, streamlined approval and underwriting processes and targeted customer support.

On the other hand, SoFi is a full-service online bank, offering deposit accounts, personal loans, mortgages, and investment products.

College Ave vs. Sallie Mae

College Ave has slightly better average rates than Sallie Mae® and, perhaps more importantly, offers parent loans and refinancing options, both of which Sallie Mae lacks.

College Ave also allows borrowers the option to make scheduled loan payments while still in school.

If you're having trouble meeting your payments, however, Sallie Mae does offer loan modification, payment extensions and reduced payment plans. 

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.

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Interest Rates: Eligibility and Important Details. Fixed rates range from 2.99% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.64% 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 9/3/2026 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.