Best Student Loans
Our take: College Ave is our top choice for student loans, offering flexible repayment options, competitive rates, and minimal fees. With private loans for students and parents plus refinancing options, College Ave combines convenience with helpful benefits, including autopay discounts and quick prequalification.
Private Student Loans
- Choose your repayment terms, including in-school repayment or deferred
- No origination or prepayment fees
- Available to students enrolled less than half-time
- Loans for undergrads, grads, parents, non-traditional students, and more
- Multi-Year Peace of Mind® lets you receive future loans at better approval odds
- Can apply for an additional 6-month grace period
- Ambition Student Mastercard® can help students build credit responsibly while in school
- Frequent scholarship giveaways and sweepstakes
- Long wait period for cosigner release
- Majority of applicants need a cosigner
| Fixed rates (APR) | 2.89% – 17.99% (depending on loan type) |
| Variable rates (APR) | 4.24% – 17.99% (depending on loan type) |
| Loan amounts | $1,000 – 100% of certified costs* |
| Repayment terms | Depend on loan type (see more below) |
| Rate discounts | 0.25% autopay (already included in APR) |
| Fees | Late fee: $25 or 5% of unpaid amount, whichever is lower |
| Cosigner release | Available halfway through the loan term if the borrower can qualify on their own** |
Refinance Student Loans
- Choice of 20 term length options
- No origination or prepayment fees
- Not available for non-graduates
- Long wait period for cosigner release
- Higher rates compared to competitors
| Fixed rates (APR) | 6.99% – 13.99% |
| Variable rates (APR) | 6.99% – 13.99% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5, 8, 10, or 15 years |
Table of Contents
College Ave private student loan types
According to our private student loans survey, 91.3% of College Ave borrowers were either somewhat confident or fully confident that they understood the terms of their student loan. That’s higher than all other private student loan lenders except SoFi®.
Undergraduate
Best Undergraduate Loans
Undergraduate Student Loans
- 4 repayment plan options
- No origination or prepayment fees
- Lifetime student loan limit varies by degree and creditworthiness
- Only available if you (or a cosigner) are a U.S. citizen or permanent resident
| Fixed rates (APR) | 2.89% – 17.99% |
| Variable rates (APR) | 4.24% – 17.99% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5, 8, 10, or 15 years |
| Grace period | 6 months |
Parent
Parent Student Loans
- Interest-only payment option while the student is in school
- Unclear term length options
- You take on full loan responsibility; can’t apply with a cosigner
| Fixed rates (APR) | 2.89% – 17.99% |
| Variable rates (APR) | 4.24% – 17.99% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5 – 15 years |
| Grace period | None |
| Cosigner release | Can’t apply with a cosigner |
Career
Career Student Loans
- Available for “select” degree programs
- Unclear how it’s different from College Ave’s undergrad loans
| Fixed rates (APR) | 2.89% – 17.99% |
| Variable rates (APR) | 4.24 – 17.99% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5, 8, 10, or 15 years |
| Grace period | 6 months |
Graduate
Graduate Student Loans
- Longer grace period than for undergrad loans
- Cosigner may still be required
- Lifetime student loan limit varies by degree and creditworthiness
| Fixed rates (APR) | 2.89% – 14.49% |
| Variable rates (APR) | 4.24% – 14.49% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5, 8, 10, or 15 years |
| Grace period | 9 months |
Dental
Dental Student Loans
- Long 20-year term length option
- Longer 12-month grace period, plus up to 24 months deferment during residency
- Lengthy wait period for cosigner release
| Fixed rates (APR) | 2.89% – 14.47% |
| Variable rates (APR) | 4.24% – 14.47% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5, 8, 10, 15, or 20 years |
| Grace period | 12 months |
MBA
MBA Student Loans
- Longer grace period than standard grad loans
- No 20-year loan option (whereas other specialized grad loans extend to 20-year repayment)
| Fixed rates (APR) | 2.89% – 14.49% |
| Variable rates (APR) | 4.24% – 14.49% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5, 8, 10, or 15 years |
| Grace period | 9 months |
Medical
Medical Student Loans
- Long grace period, plus defer loans up to 48 months during residency
- May not work with all international medical programs
| Fixed rates (APR) | 2.89% – 14.47% |
| Variable rates (APR) | 4.24% – 14.47% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5, 8, 10, 15, or 20 years |
| Grace period | 36 months |
Health professions
Health Professions Student Loans
- Defer loans up to 48 months during residency
- Available for grad degrees in nursing, therapy, and other programs
- Lengthy wait period for cosigner release
| Fixed rates (APR) | 2.89% – 14.47% |
| Variable rates (APR) | 4.24% – 14.47% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5, 8, 10, 15, or 20 years |
| Grace period | 9 months |
Law
Law Student Loans
- 12-month clerkship deferment
- Longer 20-year term length option
- Lengthy wait period for cosigner release
| Fixed rates (APR) | 2.89% – 14.47% |
| Variable rates (APR) | 4.24% – 14.47% |
| Loan amounts | $1,000 up to 100% certified cost of attendance |
| Repayment terms | 5, 8, 10, 15, or 20 years |
| Grace period | 9 months |
Bar study
Bar Study Student Loans
- Designed to help JD candidates cover living expenses, exam prep costs, and fees as they prepare for the bar exam
- No fixed rates for bar study loans
- Immediate principal and interest repayment required (no grace period)
| Variable rates (APR) | 8.19% – 14.49% |
| Loan amounts | $1,000 – $10,000 |
| Repayment terms | 1 – 5 years |
| Grace period | None |
What are the eligibility requirements?
College Ave reports that most undergraduate borrowers need a cosigner. This helps applicants with limited credit histories qualify and potentially access better rates.
97% of College Ave undergraduate student loans are cosigned.
The prequalification tool allows you to check potential rates and eligibility with no impact on your credit score. This feature is especially useful if you want to explore loan options before committing to a full application.
| Requirement | Details |
| Citizenship | U.S. citizen or permanent resident (international w/ cosigner) |
| State of residence | 50 states |
| Minimum age | 16 |
| Enrollment status | No minimum |
| Minimum credit score | Mid-600s |
| Minimum income | $35,000 |
How does repayment work?
When applying for a loan with College Ave, you’ll choose a repayment term. Many loans offer five-, eight-, 10-, or 15-year terms. You’ll also select one of four in-school payment options, if available.
| Terms | Details |
| Repayment options | In-school (full, interest-only, $25 flat) or deferred |
| Repayment terms | 5, 8, 10, or 15 years for most loans |
| Grace period | 6 – 36 months, depending on the type of loan* |
| Cosigner release? | Yes |
More than two-thirds of College Ave borrowers start repayment while in school.
Making payments while in school can reduce the overall cost of the loan by lowering the total amount of interest you pay. Choosing a shorter repayment term will also reduce your total interest cost.
What other benefits can I get with College Ave student loans?
Ambition Student Mastercard®
College Ave launched the Ambition Student Mastercard® in 2023 to help students build credit responsibly while in school. The card requires no credit check to qualify and charges no interest or late fees. Students earn cash back on all purchases and benefit from built-in fraud protection. It’s designed to make everyday spending, from textbooks to takeout, a step toward a stronger financial future.
Scholarships and sweepstakes
In addition to student loans, College Ave runs frequent scholarship giveaways and sweepstakes that offer students the chance to win money for college. These promotions are easy to enter and provide real financial relief, helping students lower their out-of-pocket costs without borrowing.
College Ave student loan alternatives
Here’s how College Ave stacks up against three other top-rated private student loan lenders:
College Ave vs. Sallie Mae
If you want to make sure your cosigner has a chance of being removed from the loan as soon as possible, Sallie Mae offers faster cosigner release in as little as 12 months.
Other Sallie Mae benefits include free FICO credit score tracking, the ability to be approved for full-year funds with just one application (instead of applying every semester), and interest-only payments for 12 months after the grace period for qualifying borrowers.
College Ave vs. Ascent
Ascent accommodates non-traditional borrowers. DACA and international students may be eligible, and Ascent offers non-cosigned options you can’t get with College Ave.
Ascent’s other benefits include a 1% cash back reward when you graduate, as well as the AscentUp Program, with digital content, one-year access to success coaching for undergrads, and paid internship opportunities. However, you’ll need to be enrolled at least half-time to be approved for a loan from Ascent.
College Ave vs. Earnest
Earnest charges no fees, not even late fees. With its 100% rate match guarantee, you might be able to get an even lower rate with Earnest if another lender offers you a lower rate for the same term.
Earnest offers the option to skip one payment with no impact on your credit, and its nine-month standard grace period for undergraduates is more generous than College Ave’s.
Student loan refinance
Best for Loans of Any Size
Refinance Student Loans
- Choice of 20 term length options
- No origination or prepayment fees
- Not available for those without a college degree
- Long wait period for cosigner release
| Fixed rates (APR) | 6.99% – 13.99% |
| Variable rates (APR) | 6.99% – 13.99% |
| Loan amounts | $5,000 to $150,000 for most degrees; $300,000 for most grad or professional degrees; $500,000 for medical, dental, pharmacy, or veterinary degrees. |
| Repayment terms | 5 – 20 years |
| Rate discounts | 0.25% autopay (already included in APR) |
| Cosigner release | Available halfway through the loan term if the borrower can qualify on their own |
| Fees | Late fee: $25 or 5% of unpaid amount, whichever is lower |
College Ave refinance alternatives
Here’s how College Ave’s refinance loans compare to three of our picks for the best student loan refinance lenders:
College Ave vs. SoFi
SoFi is the best direct refinancing lender. It offers some of the most competitive interest rates (both fixed and variable) and allows you to borrow up to the full balance of qualified student loans.
SoFi’s benefits include the option to redeem reward points to repay loans, an excellent collection of educational resources for borrowers, its SmartStart™ program, which allows interest-only payments for the first nine months, and a 0.125% rate reduction on refinanced student loans if you enroll in SoFi Plus™.ⓘ
College Ave vs. ELFI
There’s plenty to like about student loan refinancing through ELFI, including the flexible repayment terms and competitive interest rates. But what we like best is ELFI’s commitment to customer service. ELFI has an A+ rating with the Better Business Bureau and 4.9 out of 5 stars on Trustpilot. When applying, you’ll be matched with a student loan advisor to help you navigate the options.
College Ave vs. Earnest
Earnest offers the best low-rate student loan refinancing. You can check your rate in as little as two minutes with no impact on your credit score. Earnest has several features that make repayment more manageable, including its annual (fee-free) skip-a-payment feature, the ability to change your payment date, and the choice between biweekly and monthly payments.
Check out our full list of reviewed student loan companies.
Is College Ave legit? Customer reviews and reputation
According to College Ave student loans reviews and ratings from actual customers, the lender has a good reputation.
| Source | Customer rating | Number of reviews |
| Trustpilot | 4.5/5 | 2.9K |
| Better Business Bureau | 3.56/5 | 62 |
| 3.2/5 | 229 |
Many reviews highlight a fast and straightforward application process. Customers frequently mention how easy it was to navigate the website, get approved, and finalize their loans. Several reviewers noted that once approved, College Ave worked directly with their school, requiring little to no additional follow-up from the borrower.
According to our private student loans survey, 86.96% of College Ave borrowers said they would recommend private student loans to others. That’s the highest rate across all lenders.
The user experience was often described as smooth and efficient, especially for returning borrowers who had previously used College Ave for multiple loans. Friendly and responsive customer service also stands out, with representatives praised for their helpfulness and clarity.
However, some borrowers expressed confusion around the loan disbursement process and interest rate transparency. A few reviewers reported not knowing their final interest rate until late in the process, or feeling that rates were high despite strong credit profiles. Still, College Ave responded to nearly all negative reviews with tailored replies, often pointing to ways borrowers could lower their rate (e.g., via autopay discounts).
Also of note: The Consumer Financial Protection Bureau reports 56 complaints filed against College Ave since 2017.
How to apply for a College Ave student loan
You can apply for a student loan from College Ave in a few simple steps.
- Get prequalified: You and your cosigner (if applicable) can check your potential rates and loan options without affecting your credit score.
- Apply for the loan: College Ave’s online application only takes three minutes. Choose which rates and loan options to accept, if you’re approved.
- Certification: College Ave will certify your enrollment and costs with your school.
- Disbursement: College Ave sends the loan funds to your school. If there’s any money left, your school will send the remainder to you.
If you’re applying to refinance with College Ave instead of borrowing a new student loan, the first three steps are nearly the same as above.
However, unlike new student loans, refinancing doesn’t involve your school. Instead, you’ll enter details about the loans you want to refinance. If you’re approved and accept the offer, College Ave will pay off those loans. You’ll then start repayment on the new refinance loan.
Final verdict: Is College Ave right for you?
We think College Ave is the best lender for private student loans. If you’re considering it for refinance, several lenders earn better editorial ratings based on our system.
But everyone’s situation is unique. Prequalifying doesn’t affect your credit score at all, so there’s no harm in checking your rates and terms with College Ave.
Here are a few signs it might be the right lender for you:
- You’re searching for the lowest rates possible.
- You need to borrow to pay past-due tuition charges.
- You’re getting a professional degree and want more payment leeway during residency.
How we rated College Ave
We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.
We compared College Ave to several student loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.
| Company | Product | Best for | Rating (0-5) |
|---|---|---|---|
| Private student loans | Best Overall | ||
| Student Loan Refinance | Best for Refinancing Loans of Any Size |
About our contributors
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Written by Lindsay VanSomerenLindsay VanSomeren is a personal finance writer living in Suquamish, Washington. She's passionate about helping people manage their money better so that they can live the life they want. In her spare time, she enjoys outdoor adventures, reading, and learning new languages and hobbies.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their three senior rescue dogs. She has edited and written personal finance content since 2015.