Receive a letter, call or message from us? Student loans from College Ave are a good option for borrowers who are looking for a variety of repayment options and those who prefer a comprehensive online experience. Are international students or cosigners eligible for your loans? Be on the lookout for your first loan statement. Once approved we’ll work with your school directly to certify the loan. CHECK WWW.COLLEGEAVESTUDENTLOANS.COM FOR THE MOST UP-TO-DATE INFORMATION. Total Cost = Amount Borrowed + Interest Charges. The terms are flexible with a choice of repayment terms, and fixed or variable interest rates. Think about how much money you’ll need to borrow and who might cosign the loan with you. Why wouldn’t you? You spent hours researching all of your options to find the best student loan. Comparisons based on information obtained on lenders' websites as of November 16, 2020. 8 Things You Need To Know About College Award Letters. Additional options may also be available at the lender's discretion. Minimum $1,000. Home News & Articles Repayment Options Student Loan Repayment Options in Calgary for Continuing Education Continuing education is a great investment At Alberta Business & Education Services, we provide advice on how to repay your student loans and other related finances in Edmonton, Lethbridge and Calgary. All loans are subject to individual approval and adherence to underwriting guidelines. It takes just three minutes to apply and get an instant credit decision. Lowest advertised rates require selection of full principal and interest payments with the shortest available loan term. You made getting our loan very easy, from the quick online application to the constant communication via email. Start shopping around for the best loan by getting quotes, rates and terms from several lenders and know for sure who your cosigner will be. This way, both the student and cosigner share equal responsibility for the loan. CHECK WWW.COLLEGEAVESTUDENTLOANS.COM FOR THE MOST UP-TO-DATE INFORMATION. When you’re saving for a big purchase (like college), we’re told the earlier we start the better, even if we can only afford to save a little at a time. The minimum amount you can borrow is $1,000.1. Lowest advertised rates require selection of full principal and interest payments with the shortest available loan term. College Ave offers flexible private undergraduate and graduate student loans, parent loans, and refinancing options for student loans. In the example below, this student would pay approximately $8 less per month and save $1,422 over the course of a 15-year loan simply by choosing the loan with the lower interest rate. Why? College Ave Parent Loan. SoFi is next up on our list of the best places for student loans. The loan can be repaid over 5, 8, 10, or 15 years [1] and a variety of repayment options so your student can find a monthly payment amount they feel confident they can commit to. Prequalify Apply Now Plus you can apply in just three minutes for an instant decision. If you’re like most people, you compared interest rates (or APRs) to determine the lowest-cost student loan option. Private student loan interest rates are based heavily on credit, which is built over time and may be difficult to quickly improve (see Tips to Improve Your Credit Score). As certified by your school and less any other financial aid you might receive. College Ave Student Loans does not charge a prepayment penalty fee, so students can pay off the loan early. Why? Because the way you repay your loan drives how much you’ll save in the end. College Ave offers a wider range of repayment terms than most other lenders, making it a great choice for borrowers who want to see lots of options. College Ave has four different repayment options, each with its own pros and cons: Start paying full principal and interest as soon as you receive your first loan statement. We’ll choose one lucky winner each month, so be sure to check back each month and enter. Overwhelmed by school costs? International students with a valid US social security number are eligible to apply for a student loan with College Ave Student Loans. Reach back out to us at: College Ave Student Loans The application process is online with a fast approval turnaround time. Variable and fixed rate options Repay your loan the way that works for you, with flexible repayment options; Flexible payment terms ranging from 5, 8, 10, and 15 years 3 College AVE Current Student Loan Rates This is part of the reason why so many borrowers focus attention on the interest rate comparison when choosing between different loan alternatives. Ryan Lane December 2, 2020 It’s a simple comparison, and the math is already done for you, so it’s natural to stop there. College Ave… The team at College Ave Student Loans learned from other complicated lending companies and decided to make getting a private student loan for college better. Enter to win our College Ave Student Loans scholarship and you could win $1,000 for school. The Law School Loan from College Ave comes with flexible repayment options and no origination fees. It’s important to note that you may be able to realize the benefits of a shorter repayment period without actually selecting one. We’ll show you all your options and rates so there are no unexpected surprises. College Ave Student Loans is simplifying the student loan experience so students can get on with what matters most: preparing for a bright future. Please call us at 888-272-5543 to see which options are available for your private student loan. Variable interest rates may increase after consummation. Pay interest only. Safra Bank, FSB, member FDIC. However, there are other variables you should consider that could reduce the cost of your student loan. Choice of loan terms (years you take to repay), Choice of Fixed or Variable Interest Rates. With more repayment options, the less you have to worry. As you can see from the chart above, choosing a shorter repayment period (resulting in an increased monthly payment) can lead to big savings over the life of your loan. Start repaying your principal and interest right away to save the most. By providing your email address, you agree to our Privacy Policy, and you give College Ave Student Loans permission to contact you. Eligibility Requirements. They offer a wide variety of repayment options that allow you to tailor a loan experience that works for you. In this case, we look at how a shorter repayment period could save you thousands of dollars. College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access, 5 Things You Need to Know About Being a Cosigner on a Student Loan, How to Successfully Pay Off Student Loans Early. Our student loans can cover up to 100% of your cost of attendance1, including tuition, fees, books, housing, and other college costs. In this next example, the loan with the higher interest rate (7.2%) and shorter repayment period (10 years) is the better option if your goal is to reduce the overall cost of the loan. At College Ave, we know the best strategy to financing college is to first look at finding scholarship opportunities. For the same repayment plan, the lower the interest rate, the lower the monthly payment and total cost of the loan. In order to be eligible for refinancing with College Ave, you will need a good credit score and repayment history. Learn the basics so you can pick the best one for you with confidence. College Ave student loans are a good fit for citizen and permanent resident borrowers who graduated from college and want a repayment term length between five and 20 years (plus, you can choose the specific length — so if you wanted, say, eight years or 11 years, these options are available). Save on total interest but make bigger monthly payments, Make smaller monthly payments but pay more in interest overall. Put anxiety on the sideline when you see what your future loan will look like and how you can make your loan work for you. The calculations described here aren’t complicated, but for a first-time or infrequent borrower, it can seem like a daunting task. When we change the length of the loan, the lower interest rate doesn’t have the same effect. It also offers loan consolidation, 12 months of forbearance and a 0.25% rate reduction offer making this loan good for almost any student looking for a private loan. College Ave will refinance both federal and private loans ranging from $5,000 to $300,000, depending on your degree. WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE (IN WHOLE OR IN PART) THIS LOAN PROGRAM AND ITS ASSOCIATED SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. How many years will it take you to pay back your undergraduate loan? 3) The combined effect of a lower interest rate and shorter repayment period will drive significant cost savings over the life of your student loan. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Pay the interest charges each month as you go during school. While it’s difficult for borrowers to control what interest rates they’re offered, College Ave Student Loans borrowers are able to choose a repayment period from a range of options that best fits their individual goals. Variable interest rates may increase after consummation. There is 24/7 customer … Interest-only repayments. It’s important to understand the difference between variable interest rates and fixed interest rates on student loans. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment … SoFi. College Ave was able to quickly approve the loan application and funding followed. Let’s look at how a range of repayment period options (with the same interest rate of 6.50%) affects the total cost of your student loan. With us, you choose the loan term that works best for you. Your actual rates and repayment terms may vary. Some repayment programs are described in your loan's promissory note. On top of that, it provides a minimum loan amount of $2,000 and refinance threshold of $5,000, which is fairly low compared to … We’ll match you with a loan you can live with – from repayment options that fit your monthly budget to competitive interest rates. In addition, borrowers have the option of an eight-year term alongside the typical five, 10, and 15 year terms most lenders provide. Safra Bank, FSB, member FDIC. Making an informed decision about your repayment period options empowers you to control the costs associated with borrowing money for college. ©2017-2020 and TM, NerdWallet, Inc. All Rights Reserved. Receive a letter, call or message from us? This fee will go into effect if a payment is 15 days late. As federal student loan interest rates rise, leading next-generation fintech company College Ave Student Loans offers students and their families incr. If you’re making payments right away, consider signing up for autopay. The total cost is calculated as the amount borrowed plus any interest charged over the life of the loan. Information advertised valid as of 11/16/2020. College Ave does not tack on an origination fee or application fee. Usually, students don’t have the credit or income requirements to qualify for a private loan by themselves, so a parent or other adult with good credit will need to cosign the private student loan. 3. Reach back out to us at: College Ave Student Loans Loans will never have a full principal and interest monthly payment of less than $50. Make $25 payments each month3 during school to reduce your accrued interest. As an example, College Ave Student Loans offers undergraduate student loans with low variable and fixed interest rates. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Because most lenders do not have a penalty for early repayment, you could pay more than the minimum required payment each month. Sign Up for Monthly College Financial News, Tips, & Advice. Save up to $3,600 for less than $61 per month. It was so easy. You’re a smart shopper. Shortening your loan from 15 to 8 years saves $3,657 in interest payments with a modest monthly payment increase of $60. When it comes to borrowing money, the concept is the same, but it works in reverse. College graduates can choose from eight student loan repayment options, including income-driven plans, to tackle their debt. Let’s see if we can help. Here’s what you need to know about comparing interest rates and repayment terms before you start crunching the numbers: 1) Interest rate has a direct relationship to monthly payment and total cost. Information advertised valid as of 11/16/2020. Your actual rates and repayment terms may vary. Credit-worthy applicants can borrow up to 100% of the school-certified cost of attendance, which typically includes things like tuition and fees, books and supplies, room and board, transportation and personal expenses. College Ave offers students a loan experience that is fairly unique. WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE (IN WHOLE OR IN PART) THIS LOAN PROGRAM AND ITS ASSOCIATED SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. This way you’ll feel confident that when you make your monthly payment it’s working extra-hard for you. College Ave respects your inbox and will only send periodic emails. Recurring electronic (ACH) payments from a bank account. In order to be approved for a College Ave student loan, an international student will be required to apply with a qualified cosigner. We’re simplifying the student loan experience so you can get on with what matters most: preparing for a bright future. For decades, we’ve been inundated with interest rate-focused advertising from banks, mortgage lenders, and car dealers. Program restrictions, other terms, and conditions apply. You’ll have moderate monthly payment while still in school, … Program restrictions, other terms, and conditions apply. College Ave’s fees and penalties. You’ve got bigger goals to focus on; let us help make the paying part simple. The lender also doesn’t have a prepayment penalty of any kind. With a customer-friendly experience from application through repayment, they’ll help you find your best college loan in a way you can understand, and they’ll make … How much of my education costs will this loan cover? Unlike most competitors, it offers four repayment options, with four terms that don't require a cosigner. The value of time works both ways. Pay interest that accumulates each month to reduce your loan balance. Student loan repayment can be deferred until after graduation but making payments during school is a great way to reduce the total cost of your loan. College Ave offers a moderately high loan limit and excellent repayment length options for its private student loans. Thank you for making what is often a stressful situation, stress-free! For the same repayment option and interest rate, the shorter the repayment term, the lower the total cost of the loan and higher the monthly payment. College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access. Shortening your loan from 15 to 8 years saves $3,657 in interest payments with a modest monthly payment increase of $60. The choices are narrowed, and you’re ready to choose, but did you consider all of the variables? Our student loans can cover up to 100% of your cost of attendance1, including tuition, fees, books, housing, and other college costs. Apply for your student loan. Make sure you’ve received confirmation that the money is scheduled to be sent to your school. Borrowers with a cosigner who choose the shortest repayment term and make the full monthly payments while in college qualify for the lowest rates. As you make payments, you will start to pay down the principal amount of your loan, reducing the total interest that … Would definitely recommend using College Ave student loans!!!! To be eligible for a College Ave student loan, you must … College Ave is a great choice for students or parents who want assistance with finding the best loan. While you’re in school, you have a few payment plans to choose from: Full repayments. New repayment options for College Ave Student Loans borrowers. For those that don’t want to learn the complexities of calculating accrued interest and monthly payments, you can use the simple (and free) College Ave student loan calculator to help you get the answers you need to find your best option. *All loan scenarios assume a $10,000 loan amount, one disbursement, deferred repayment, four-year in-school period, and a six-month grace period. But look what happens when we add in a few more variables. 2) Repayment term has a direct relationship to total cost and an inverse relationship to monthly payment. Loans will never have a full principal and interest monthly payment of less than $50. Continuing education is a great investment, but when it comes time for repayment … College Ave offers graduates a variable APR of as low as 2.63% variable and 4.15% fixed. This option offers the lowest... Pay interest only. We really appreciate knowing where we are at in the process. We’ll help you find your best college loan in a way you can understand, and we’ll make it fast & easy. Fixed 3.49% – 12.99% and variable rates 1.09% – 11.98% available on College Ave student loans for parents; Rate discount of 0.25% after autopay enrollment; No origination fees or prepayment penalties; Student … Fortunately, you don’t need a PhD in math to figure this out. Here are the options you have to choose from: Full principal and interest repayment – You can start paying back your loan right away … All loans are subject to individual approval and adherence to underwriting guidelines. SoFi is an … This was a very simple process to apply for the student loan at a great rate. In-school interest-only or immediate repayment options; Visit Citizens. First, let’s define what we mean by “total cost” of your student loan. Thank you! (all rates shown include auto-pay discounts)2, (all rates shown include auto-pay discount)2. College Ave offers private student loans with multiple repayment options and lets borrowers refinance at any repayment term between five and 20 years. You get to choose your terms and finalize the paperwork and done. College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. And if you start making payments sooner–or pay more each month–you can lower the cost of the loan over time. College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y.