Сollege ave student loans reviews
- Thread starter CocaBoy
- Start date
if you r looking reviews for college ave student loans - from my side (based on experience and what I’ve seen comparing lenders), it’s one of those services that feels smooth on the surface but really depends on your profile.
The application process is straightforward and fast. You don’t get a lot of friction, and approval decisions usually come quicker than with traditional banks. Managing the loan online is also simple enough - payments, schedules, and basic account info are easy to track without unnecessary complexity.
Where things get more inconsistent is pricing. In my case and in a few similar comparisons I’ve looked at, the APR wasn’t particularly “premium” unless you have strong credit or a solid co-signer. That’s really the key point with College Ave: the experience is stable, but the actual deal you get can vary a lot.
So overall feedback would be: good UX, predictable process, but not necessarily the most competitive rates in every scenario. It’s worth checking, but not something I’d treat as automatically the best option without comparing alternatives first.
I checked a bunch of reviews for college ave student loans when comparing lenders for grad school.
The common theme was: application is quick, repayment options are flexible, but you absolutely need to read the fine print on rates and cosigner release. I’d trust it more than random lenders, but I still wouldn’t sign anything without comparing offers first.
The common theme was: application is quick, repayment options are flexible, but you absolutely need to read the fine print on rates and cosigner release. I’d trust it more than random lenders, but I still wouldn’t sign anything without comparing offers first.
ninel armstrong
New member
I used College Ave Student Loans, and here is my review:
I borrowed about $18500 for the academic year. My starting APR was 7.9% variable with autopay, then increased (with rate changes) to about 9.2%. I graduated and my payment on a 10 year term is about 240.
Successes. It is a very quick process. They decided in less than 10 min. There are no origination fees, so your tuition is paid out in full. Flexible repayment options are available. I originally paid interest only - about 90 bucks a month - then I began making full payments. Autopay discounts your rate by 0.25 percent.
Just so you know. The rates were much higher without a cosigner. I was getting offers in the low teens, around 11 percent on my own. Cosigner release takes time. before they even consider it. If you miss a payment, there are late fees of about $25 (although fees can vary between lenders) and interest will continue to accumulate. Support is good, but not very proactive, in my opinion.
As for the figures. At my rate I will probably pay somewhere between 7000 and 9000 dollars in interest over 10 years. When your rate is above 12 percent, your total repayment may increase substantially, and, in some cases, it could be as much as one and a half times the initial loan.
The interest rate makes a big difference so I guess the only time you should have to used a private loan is if you already used federal loans and compared multiple offers.
I borrowed about $18500 for the academic year. My starting APR was 7.9% variable with autopay, then increased (with rate changes) to about 9.2%. I graduated and my payment on a 10 year term is about 240.
Successes. It is a very quick process. They decided in less than 10 min. There are no origination fees, so your tuition is paid out in full. Flexible repayment options are available. I originally paid interest only - about 90 bucks a month - then I began making full payments. Autopay discounts your rate by 0.25 percent.
Just so you know. The rates were much higher without a cosigner. I was getting offers in the low teens, around 11 percent on my own. Cosigner release takes time. before they even consider it. If you miss a payment, there are late fees of about $25 (although fees can vary between lenders) and interest will continue to accumulate. Support is good, but not very proactive, in my opinion.
As for the figures. At my rate I will probably pay somewhere between 7000 and 9000 dollars in interest over 10 years. When your rate is above 12 percent, your total repayment may increase substantially, and, in some cases, it could be as much as one and a half times the initial loan.
The interest rate makes a big difference so I guess the only time you should have to used a private loan is if you already used federal loans and compared multiple offers.
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