How to apply for College Ave Student Loans
Apply for College Ave Student Loans immediately if you are in need of a loan for your studies.
Why Investing in a Loan for Education is a Smart Choice
When it comes to pursuing higher education, a loan for education is more of an investment than anything else. College Ave Student Loans, an online lender founded in 2014 and based in Delaware, specializes in providing student loans to borrowers.
Whether you are a parent, graduate student, or undergraduate student, College Ave offers private student loans to meet your needs. These loans can be a valuable source of funding if you have reached your federal student loan limit or are ineligible for federal loans.
In addition to private student loans, College Ave also offers refinance loans for those who already have student loan debt. The lender accepts borrowers from all 50 states, as long as they meet the other eligibility requirements.
College Ave’s undergraduate private student loans are particularly advantageous for those who prefer to make payments while still in school. Borrowers can choose from immediate payment, interest-only payment, and fixed $25 payment plans. However, payments can also be deferred until after graduation.
One of the benefits of choosing College Ave is the potential for lower interest rates. By selecting shorter payback terms and making payments while still in school, borrowers may be eligible for lower interest rates compared to other lenders. It’s worth noting that over 95% of College Ave student loans have a co-signer. Completing the necessary requirements and reaching at least the halfway point of the repayment term is essential to release the co-signer from the loan.
Instead of waiting for the repayment term to end, borrowers can also refinance their debt. However, this would require meeting the requirements of the refinance lender and modifying the terms of the existing loan.
If you’re looking for a reliable lender for your student debt, College Ave Loans is a reputable option.
Eligibility for College Ave Student Loans
Eligibility for a private student loan from College Ave depends on various factors such as salary, credit score, and other circumstances. If you are unable to qualify on your own, having a co-signer can help you secure the best rates.
To be eligible for an undergraduate student loan from College Ave, you must be a U.S. citizen or legal permanent resident and enrolled at least part-time in an authorized college or university. International students must have a co-signer and a Social Security number to be eligible for a student loan.
Having a co-signer can benefit many college students who may have limited credit history or income. Any adult with a high credit rating and steady income, including parents, can act as a co-signer. College Ave also offers the option to request the removal of a co-signer from a loan.
If the request for co-signer release is granted, the borrower becomes fully responsible for the debt, and it will no longer affect the co-signer’s credit record.
How to Apply for College Ave Student Loans
One of the advantages of College Ave is the ability to prequalify for a loan without impacting your credit score. By providing your contact details and basic information, such as your name and birthday, you can find out your anticipated interest rates. This can be done by either the co-signer or the student.
If the rates and terms are favorable, you can proceed with the complete application process. This requires submitting more detailed information, including your Social Security number, yearly income, and other relevant details. The entire application process with College Ave can be completed in less than three minutes.
Once you are accepted and have carefully reviewed the final terms of your loan, you can sign your name. College Ave will then work with your university to disburse the loan money for undergraduate student loans, or send the funds directly to your previous lender if you are refinancing. It’s important to monitor your College Ave account to know when your first payment is due, regardless of the loan option you choose.
Comparison: College Ave Student Loans vs LendingPoint Personal Loan
If you are specifically looking for a loan for educational purposes, College Ave Student Loans is the best option. However, if you need a personal loan and have less than excellent credit, a LendingPoint Personal Loan may be more suitable.
Benefits of College Ave Student Loans
- Available prequalification to check interest rates
- Eligible for part-time enrollment
- Graduation completion bonus of $150
- Flexible repayment terms
Benefits of LendingPoint Personal Loans
- Soft credit check for pre-qualification
- Quick financing
- Option to change payment due date
- Free access to credit scores
How to Apply for a LendingPoint Personal Loan
For more information on applying for a LendingPoint Personal Loan, please refer to our dedicated article.
