Apply for College Avenue Student Loans in United States (U.S.)

– College Avenue Student Loans –

College Avenue Student Loans is an online lender which was founded in the year 2014. It offers both student loan refinancing and private student loans.

The establishment doesn’t have a specific forbearance policy and evaluates requests on a case-by-case basis. In this article, I will emphasise College Avenue student loans.

College Avenue Student Loans Eligibility Requirements

To be qualified, you need to be a student at a U.S. college or university and must be a U.S. citizen or an international student with a valid U.S. Social Security Number.

The minimum loan amount available is $1,000 and you can borrow up to 100% of the school’s cost of attendance, minus any financial aid you’ve received.

Unlike federal loans, many of which are based on financial need, College Avenue goes off of creditworthiness.

They understand that many students may not have an established credit rating or payment history, and so most undergrads will need a qualified cosigner.

If your co-signer has an excellent credit history, you could, however, end up with the cheapest rates and best repayment terms.

College Avenue Student Loans College Avenue Graduate Student Loans

For graduates, College Avenue Student Loans provides funding with flexible repayment plans for those even costlier degrees.

Also, one even lets you defer your monthly payments while you are in school. This is something typically not offered with most private loans.

Rates, Terms, Eligibility, and Application Process

Graduate loans come with the same terms, minimums, and maximums as undergrad loans. You can pick a 5, 8, 10, or 15-year term with four different in-school repayment options.

These options include full principal plus interest payments, and interest-only payments. However, flat payments of $25, and a deferred plan, allow you to wait until after graduation to start repayment.

Interest rates are slightly different for a graduate loan. Variable rates range from 4.07% APR to 9.37% APR, while fixed rates range from 5.29% APR to 10.45% APR.

Therefore, in order to get the best rates, you’ll still need good credit and, possibly, a qualified cosigner.

As with the undergraduate loan, you can apply for the graduate loan completely online in about 3 minutes.

What Else You Should Know About College Avenue

There are no fees to apply or penalties if you pay the loan off early. While College Ave does offer a wide range of repayment options, putting as much money towards your loan as soon as possible will save you the most money.

College Avenue Student Loans College Ave Parent Loans

If you are looking to borrow on behalf of your child, College Ave has an option for you as well as the Parent Loan.

Rates, Terms, Eligibility, and Application Process

With the College Avenue Parent Loan, up to $2,500 of the loan proceeds can be delivered directly to you as the parent.

Also, you can control spending on additional items like books, computers, and also needed supplies for your student’s dorm room.

Rates for the parent loan are slightly higher, starting at 5.34% APR and going up to 10.16% APR for a variable loan.

Fixed rates range from. 6.62% APR to 10.56% APR. Like with the other loan options, there are no applications or origination fees.

There are three in-school repayment options available, including full principal plus interest, partial principal plus interest, and also interest-only.

As with the undergraduate loan, you can apply for the parent loan completely online in about 3 minutes.

What Are the Benefits of a College Ave Student Loan?

If you want extremely flexible loan repayment options, you should definitely into student loans from College Ave.

College Avenue allows multiple repayment options. For example, if you are a student. However, you can opt to make full-principal plus interest payments, interest-only payments.

Or flat payments of amounts as low as $25 per month while you are still in school. Borrowers may also defer payments until school is complete.

If you are a parent, you also have your choice of flexible repayment options while your child is in school.

However, including full-principal plus interest payments, interest-only payments, or “interest plus” payments that allow you to set the monthly payment of your choice.

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More Benefits

If you are not sure what kind of loan repayment plan would be best for you, College Avenue’s technology-forward approach can lend a hand.

Their home page features an exceptionally user-friendly interface that uses human speak instead of bank-speak to assist you in figuring out what kind of loan terms might be best for you.

Use the handy pull-down menus to fill in some basic info such as who you are (parent, student, etc.).

How many years of schooling are left, and whether you want to prioritise lower monthly payments or a lower overall loan amount?

From there, the site lets you use sliders to recalculate how diverse terms will affect your payments and loan totals. You can also email the results to yourself for easy comparison shopping later on.

College Avenue Student Loans FAQs

1. Does College Avenue offer tools to assist students to decide if refinancing is a good idea?

Yes. College Ave hosts a free calculator that can help you with finding out if you can reduce your overall cost or monthly payments.
 
Account for any federal benefits that you could lose by going with a private funder like College Avenue.

2. Can I consolidate or refinance more loans in the future?

Yes. You will need to apply for each loan, and your loan’s terms ultimately may be different.

3. I can’t find my school listed. What should I do now?

Email College Avenue customer service with the name of your school. From there, you may receive confirmation of eligibility.

4. Can I set up paperless statements?

Yes. You can change from paper statements to e-delivery by signing in to your College Ave account.

5. How many pluses can I borrow in an academic year?

Parents can borrow up to the entire cost of attendance for an academic year, minus any financial aid the student is scheduled to receive.

Hope you this information was useful to you. Also, if this article motivates you to school abroad, you can share it with your friends and loved ones. Thanks. 

StudentsandScholarship Team