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College Ave suits borrowers who want to choose their exact term and in-school payment plan, and its low starting rate is competitive for students with a strong cosigner. It is a legitimate private student lender, BBB accredited with an A+ rating since 2015, with loans made through FDIC member partner banks. The catch is the top of the range: fixed APRs reach 17.99%, among the highest of the big lenders, and cosigner release takes years. Use federal loans first, then compare a College Ave quote with at least two other lenders.
- Company
- College Avenue Student Loans, LLC, 233 N King St, Wilmington, DE; business started July 18, 20143
- Undergrad fixed APR
- 1.94% to 17.99% with a 0.25% autopay discount, as listed October 20261
- Undergrad variable APR
- 3.89% to 17.99% with the autopay discount, as listed October 20261
- Fees
- No origination fee1
- Loan amounts
- $1,000 minimum, up to 100% of school-certified cost minus other aid1
- Terms
- 5 to 15 years, up to 20 years for some programs1
- Cosigner release
- Eligible after half of the original repayment term has passed, with income and credit requirements2
- Who makes the loans
- FDIC member partner banks; College Ave arranges and services the loans1
Pros
- Low starting fixed APR (1.94% with autopay)
- You choose the term length instead of getting one assigned
- No origination fee
- Loans for undergraduates, graduate and professional students, and parents
- Strong Trustpilot score (4.5 from about 4,000 reviews)
Cons
- Top fixed APR of 17.99% is among the highest of the big lenders
- Cosigner release only after half the repayment term (5 years on a 10 year loan)
- Most undergraduates will need a cosigner
- 156 CFPB complaints in three years, many about servicing and credit reporting
- No income-driven repayment or forgiveness like federal loans
Best for: Students with a creditworthy cosigner who want to set their own repayment term and in-school payment plan after using federal loans.
Skip it if: You want your cosigner released within a year or two, or your credit would put you near the 17.99% top of the range.
College Ave vs. competitors
| Company | Undergrad fixed APR (Oct 2026) | Cosigner release | Fees | Stands out for |
|---|---|---|---|---|
| College Ave | 1.94% to 17.99% | After half the repayment term | No origination fee | Choose your own term |
| Citizens | 3.24% to 13.49% | Apply once in full repayment; no set payment count | None | Multi-Year Approval |
| Sallie Mae | 2.08% to 17.49% | After 12 on-time principal and interest payments plus proof of graduation | No origination fee | Less than half-time students can apply |
| Earnest | From 1.99% | After 36 months of payments and balance at or below 50% of original principal | No origination or late fees | 9 month grace period |
College Ave pricing at a glance
College Ave undergraduate loan pricing, as listed October 20261
| Item | What College Ave lists |
|---|---|
| Fixed APR | 1.94% to 17.99% (with 0.25% autopay discount) |
| Variable APR | 3.89% to 17.99% (with 0.25% autopay discount) |
| Origination fee | None |
| Minimum loan | $1,000 |
| Maximum loan | Up to 100% of school-certified cost of attendance minus other aid |
| Repayment terms | 5 to 15 years, up to 20 years for some programs |
College Ave said its rate information was valid as of October 1, 2026. Graduate, health professions, MBA, law and parent loans have their own ranges. Your rate depends on credit, cosigner, term and repayment option.
College Ave, step by step
Check your rate
Apply online alone or with a cosigner. College Ave runs a credit check and shows the rates you qualify for.
Build your loan
Pick fixed or variable, a repayment term, and whether to pay in full, pay interest only, or defer while in school.
School certification
College Ave sends the loan to your school's financial aid office, which certifies the cost and your other aid.
Disbursement
Funds go straight to the school for tuition, fees and housing. You manage the loan in College Ave's online account.
Repay and release
Full payments start based on the option you chose. After half the repayment term, the borrower can ask to release the cosigner.
College Ave legitimacy and licensing
Yes. College Avenue Student Loans, LLC has made private student loans since 2014 from Wilmington, Delaware, and has been BBB accredited with an A+ rating since July 2015. The loans themselves are made by FDIC member partner banks, and College Ave runs the application and servicing. Credit unions and banks also offer College Ave loans under partnership programs.
Legit is not the same as cheap. College Ave’s advertised range is wide, and the rate you get depends heavily on your credit and cosigner.
College Ave rates and fees
As listed in October 2026, undergraduate fixed APRs ran from 1.94% to 17.99% and variable APRs from 3.89% to 17.99%, both including a 0.25% autopay discount. College Ave said that rate information was valid as of October 1, 2026.
- No origination fee. You receive the full amount you borrow.
- Loan size: $1,000 minimum, up to the school-certified cost of attendance minus other aid.
- Terms: 5 to 15 years, up to 20 years for some programs. Shorter terms usually get lower rates but higher monthly payments.
Compare the full APR on your offer, not the advertised floor. Only a small share of applicants with excellent credit and a strong cosigner get the lowest rates.
How a College Ave loan works
You apply online, with or without a cosigner, and see the rates you qualify for. You then pick fixed or variable, your term, and an in-school repayment option: full payments, interest only, or deferred. Paying something while in school lowers the interest that gets added to your balance.
Your school certifies the amount, and College Ave sends the money directly to the school. College Ave says undergraduates will likely need a cosigner, and international students can qualify with a Social Security number and a qualified U.S. cosigner.
What customers say about College Ave
Recurring themes across the review sites and complaint records listed above, not individual quotes.
Common praise
- Fast online application and quick credit decisions
- Clear steps from application to disbursement
- Helpful, knowledgeable support staff
- Flexible choice of term and in-school payment
Common complaints
- Rates higher than expected even with good credit
- Problems with credit reporting and credit checks
- Servicing and payment issues after disbursement
- Surprise costs not understood at signing
College Ave cosigner release
College Ave’s help center says a cosigner can be released once half of the original repayment term has passed. On a 10 year loan, that means after the fifth year of principal and interest payments. The borrower must also be a U.S. citizen or permanent resident, show documented income of at least twice the outstanding loan balance, and pass a credit review with no 30 day delinquency in the past 12 months and no bankruptcy, foreclosure or repossession in the past 24 months.
That is slower than Sallie Mae’s 12 payment path. If your cosigner wants off the loan soon, factor that in before you choose College Ave.
College Ave complaints
The CFPB database lists 156 complaints against College Ave Student Loan Servicing from October 12, 2023 to October 12, 2026, and 229 all time. The top issues were dealing with the lender or servicer (48), improper use of a credit report (29) and incorrect information on a report (24). The BBB lists 51 complaints in three years.
Reviews are mostly positive: Trustpilot shows 4.5 out of 5 from about 4,000 reviews, with praise for the quick application. The negative reviews tend to cite rates higher than expected and costs borrowers did not understand at signing.
Before you sign, check that your final disclosure matches your quote, and pull your free credit reports after the loan disburses to confirm it is reported correctly.
Federal loans first, and the rules that protect you
Use federal Direct Loans before any private loan. Undergraduate Direct Loans for 2026 to 2027 carry a fixed 6.52% rate with no credit check and include income-driven repayment and forgiveness options. College Ave loans do not.
Starting July 1, 2026, Grad PLUS loans are closed to new graduate borrowers and Parent PLUS loans are capped at $20,000 a year and $65,000 total per student, so many graduate students and parents now need a private loan for the gap.
Federal truth-in-lending rules require an approval disclosure and a final disclosure for private student loans, and you can cancel within three business days after the final disclosure. Read the promissory note for forbearance limits and what happens if the borrower dies or becomes disabled.
Alternatives to College Ave
- Federal Direct Loans (FAFSA) Free to apply, no credit check for undergraduates, a fixed 6.52% rate for 2026 to 2027 undergrad loans, plus income-driven repayment and forgiveness options.
- Citizens Lower maximum APR (13.49% fixed) and Multi-Year Approval, if you attend a four-year school. Read review
- Sallie Mae Much faster cosigner release, after 12 on-time principal and interest payments. Read review
- Earnest No late fees and a 9 month grace period after you leave school. Read review
College Ave reviews
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Frequently asked questions
Is College Ave a legit lender?
Yes. College Avenue Student Loans, LLC has operated since 2014, is BBB accredited with an A+ rating, and its loans are made by FDIC member partner banks. It is one of the larger private student lenders in the U.S.
What are College Ave interest rates?
In October 2026 College Ave listed undergraduate fixed APRs of 1.94% to 17.99% and variable APRs of 3.89% to 17.99%, both with a 0.25% autopay discount. Your rate depends on your credit, cosigner and term.
What credit score do I need for College Ave?
College Ave does not publish a minimum score on its loan pages. Third-party reviews put typical approvals in the mid-600s or higher, and College Ave says most undergraduates will need a cosigner.
Does College Ave do a hard credit pull?
The College Ave pages we could open did not say whether its rate check is a soft or hard pull. Ask before you apply, and keep your rate shopping within a short window so multiple inquiries count less.
How does College Ave cosigner release work?
Per its help center, the cosigner can be released after half of the original repayment term has passed, if the borrower has income of at least twice the balance and a clean recent credit history. On a 10 year loan that is after year five.
Does College Ave charge fees?
There is no origination fee. Read the promissory note for any late payment or returned payment fees.
How long does College Ave take to disburse?
The credit decision is quick, but the money goes out only after your school certifies the loan. That timing depends on your school's financial aid office.
Can parents borrow from College Ave?
Yes. College Ave offers parent loans in addition to undergraduate, graduate, health professions, law and MBA loans. Parent PLUS limits that started July 1, 2026 have made private parent loans more common.
Is College Ave better than Sallie Mae?
College Ave lets you choose your term, while Sallie Mae offers a much faster cosigner release (after 12 on-time principal and interest payments plus graduation). Compare actual quotes from both, since rate ranges overlap.
Who owns College Ave?
College Ave is a privately held company based in Wilmington, Delaware. It arranges and services loans that are made by its FDIC member partner banks.
Sources (7)
Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards
- College Ave: Private Student Loans for College (accessed October 11, 2026)
- College Ave Help Center: Can a cosigner be released from a loan? (accessed October 12, 2026)
- BBB: College Avenue Student Loans, LLC (accessed October 12, 2026)
- Trustpilot: College Ave reviews (accessed October 12, 2026)
- CFPB: Consumer complaint database, College Ave Student Loan Servicing (accessed October 12, 2026)
- Federal Student Aid: Federal interest rates and fees (accessed October 11, 2026)
- Carnegie Mellon University: Federal PLUS loan changes for July 1, 2026 (accessed October 12, 2026)
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