Private Loans for College

College Ave Student Loans' products are designed to help you pay for school as easily as possible.

We offer great rates and flexible repayment terms, so you can decide how and when to pay your loan back.

Parent Loan:

A Parent loan is money a student’s parent or guardian borrows to help pay for school. The loan is entirely in the parent’s or guardian’s name, and they are taking full responsibility for repaying the loan. Like other student loans, a Parent loan is used to cover college-related costs, such as tuition, supplies, or room and board.

Undergraduate or Graduate Student Loan: 

When an Undergraduate Student Loan or Graduate Student Loan is cosigned, it is in both the student and cosigner's name. As a cosigner, you’re taking equal responsibility with the student and are providing your financial background to help guarantee that the loan will be paid back. A Parent loan, on the other hand, makes you the sole borrower on the loan.

Federal student loans are funded directly by the federal government. Applying for a Federal student loan requires that you complete the Free Application for Federal Student Aid (FAFSA). We recommend that you complete the FAFSA and apply for federal student loans before considering private student loans. Those who do not qualify for federal loans or who have already exhausted their federal loans often consider private undergraduate student loans.  

Private loans are any student loans issued by banks or other private lenders. When it comes to choosing a private student loan, there is no one-size-fits-all solution; students should compare their options and find a solution that works best for their financial situation.  

Student loans can be used to cover education related costs including things like tuition and fees, books and supplies, housing and food, and commuting.

College Ave's Student and Parent loans will cover up to 100% of the school-certified cost of attendance, which typically includes things like tuition and fees, books and supplies, housing and food, and commuting expenses.

The minimum amount you can borrow is $1,000.

College Ave does not currently lend to schools that only offer online education. We currently lend to students attending schools that are considered Title IV eligible, which is determined by the US Dept. of Education. Title IV schools include public and private universities, community colleges and career training schools. Students enrolled in an online program at an eligible school can use a College Ave Student Loan to cover the cost of attendance.

If you can't find your school in the student loan application, it's possible that your school isn't currently on our eligible list. You can send an email to studentloans@collegeave.com with your school’s name, and we'd be happy to confirm eligibility.

Yes. We currently lend to students attending schools that are considered Title IV eligible, which is determined by the US Dept. of Education. Title IV schools include public and private universities, community colleges, and career training schools.

If you can't find your school in the student loan application, it's possible that your school isn't currently on our eligible list. You can send an email to studentloans@collegeave.com with your school’s name, and we'd be happy to confirm eligibility.

You will be notified when it is time to start paying back your Student or Parent Loan. In addition to sending a monthly billing statement, College Ave will send you a few email reminders. You'll get the first email about 45 days before your first payment is due. The second email will come 5 days before your first payment is due.

For Undergraduate and Graduate loans:

College Ave does not require payments while the student is enrolled in school.
There are 4 different repayment options: Deferred, Interest Only, Flat Pay (you pay $25 a month) and Full Principal and Interest.

If you don't want to make any payments until after graduation, select Deferred.

If you choose Deferred, interest Only, or the Flat Pay options, the full principal and interest payments will start 6 months after graduation for undergraduate loans and 9 months after graduation for most graduate student loans.

For a Parent loans:

College Ave requires that you pay at least the monthly interest charges while the student is in school.

If you’re having trouble making payments, contact College Ave Student Loans immediately. We have several options for customers who are unable to meet their monthly payment obligations. A customer service representative will be able to discuss available options based on your individual circumstances.

Most students have limited credit history and income, so they'll likely need a cosigner who has good, established credit to be eligible for a private student loan.

Applying with a cosigner, such as a parent, can increase your chances of getting approved and could result in a lower interest rate.