College Ave Student Loan Refinancing Review
College Ave offers refinance loans with features like soft credit rate checks, cosigner release options and a 0.25% autopay discount. However, qualifying for cosigner release can be difficult due to strict income requirements and a long waiting period before borrowers become eligible.
Table of Contents
Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances.
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Our Take
College Ave refinance loans are a good fit for borrowers who want flexible repayment terms, a fully online process, and the ability to preview estimated rates with a soft credit check. The lender also offers high refinance limits for certain professional degrees, which may benefit borrowers with large loan balances. However, College Ave provides only in-school deferment, which may be limiting for borrowers who might need additional deferment options.
Min. Credit Score:
N/A
Loan Amount:
$5,000 ~ $500,000
Fixed APR:
6.99% - 13.99% with autopay
Variable APR:
6.99% - 13.99% with autopay
Loan Terms:
5, 7, 10, 15 or 20 years Years
Loan Types Offered:
Private student loans, parent loans and student loan refinance
Pros
- Allows applicants to see the rate they could receive with a soft credit check.
- College Ave offers flexible repayment options, with loan terms ranging from five to 20 years, to help borrowers customize their repayment timeline.
- Loans don’t have application, origination, or prepayment fees.
Cons
- Co-signer release is available, but strict income requirements and a long waiting period can make qualifying difficult.
What is College Ave?
College Ave is an online student loan lender founded in 2014 and headquartered in Wilmington, Delaware.
The company offers student loan refinancing for federal or private student loans up to $150,000, $300,000 or $500,000, depending on the degree completed, repayment terms ranging from five to 20 years, and lets borrowers preview estimated rates through a soft credit check before applying.
College Ave also runs ongoing promotions, including its $1,000 Monthly Scholarship and $5,000 Graduate School Scholarship Sweepstakes, offering students a chance to receive additional financial support.
Who would benefit the most from College Ave Student Loan Refinance?
- Borrowers with large medical, dental, pharmacy, or veterinary school loan balances, can refinance up to $500,000 of professional-school debt in these fields.
- Borrowers who want flexible in-school payment options, since College Ave offers interest-only, $25 flat payments, full payment and deferred plans for those who may return to school or expect changing financial needs.
How can College Ave Student Loan Refinance improve?
- Ease cosigner release requirements. Not having a standard cosigner release term can make it challenging for borrowers to remove cosigners from the loan.
Terms, fees & details
- Loan terms: 5, 7, 10, 15 or 20 years.
- Loan amounts: Minimum of $5,000, up to $500,000 for medical, dental, pharmacy or veterinary doctorate degrees, $300,000 for other graduate or professional degrees, and $150,000 for all other degrees.
- Soft credit check offered: Yes.
- Allows you to transfer a parent loan to a child: Yes.
- Application or origination fee: None.
- Prepayment penalty: None.
- Late fees: Yes, 5% of the monthly payment amount or $25, whichever is less. The fee is charged after a 15-day grace period.
Friendly Finly Advice
If possible, prequalify with multiple lenders before committing to a loan offer. Prequalifying allows you to compare potential rates and terms to ensure you’re getting the lowest rate. Rates can depend on a variety of factors, including credit history and income.
Fixed APR:
5.73% - 10.30% with autopay
Variable APR:
6.00% - 11.29% with autopay
Min. Credit Score:
N/A
Max. Loan Amount:
$750,000
Fixed APR:
4.79 - 9.99% with autopay
Variable APR:
5.88 - 9.99% with autopay
Min. Credit Score:
665
Max. Loan Amount:
$500,000
How do we select lenders?
About This Comparison:
We select three alternative refinance lenders that offer similar products to the lender featured in this review. These lenders are chosen based on their relevance to common borrower-related information—such as APR ranges, repayment terms, credit score requirements and loan amount options—their overall competitiveness in the refinance market, and their strong performance on our lender rating rubric. Our editorial team makes these selections independently to help borrowers easily compare key features and make an informed decision.
To help readers evaluate whether the featured lender is the right fit for their needs, we include a comparison section highlighting three alternative student loan refinance lenders. These lenders are selected using the following criteria:
1. Direct Relevance to Borrower Decision-Making
We choose lenders whose core offerings overlap with the featured lender—specifically in APR ranges, repayment terms, required credit scores and loan amount minimums/maximums. This ensures borrowers can make an apples-to-apples comparison of the factors most likely to influence their refinance decision.
2. Competitive Position in the Market
Alternative lenders are selected based on their market presence, competitive rates, and borrower-friendly features. We prioritize lenders that are commonly considered alongside the featured lender by refinance shoppers and industry experts.
3. Coverage of a Representative Spectrum of Options
We include lenders that together provide a balanced view of the refinance market, such as:
- A lender with low advertised APRs
- A lender with flexible or unique loan terms
- A lender with broad loan amount ranges or borrower eligibility criteria
- A lender with strong performance on our lender rating rubric
- A lender with minimum credit scores that fit borrowers who may visit the featured lender review.
This mix helps borrowers understand how the featured lender compares across different strengths.
4. Data Availability and Consistency
We only include lenders for which we have current, verifiable information on APRs, repayment options, loan amounts, and eligibility requirements. This ensures the comparison is accurate, transparent, and aligned with our editorial standards.
5. Editorial Independence
Alternative lenders are chosen by our editorial team based solely on borrower benefit and informational value. Lender partnerships or compensation agreements do not influence which lenders are selected or how they’re presented.
How to qualify for College Ave Student Loan Refinance
You’ll have to meet College Ave’s eligibility criteria to refinance your student loan. The company has various requirements for applicants to meet:
Financial criteria:
We contacted College Ave to discuss additional borrower profile details — including the typical credit scores and income levels of approved applicants — but did not receive further information in time for this review.
While those benchmarks are not publicly disclosed, College Ave generally evaluates applicants based on credit history, income stability and overall ability to repay. If you’re unsure whether you meet its standards, pre-qualifying can help you estimate your potential rates and determine whether refinancing with College Ave is a realistic option before completing a full application.
Location, citizenship and education criteria:
We reached out to College Ave to set up a time to discuss additional program details — including whether any state eligibility restrictions apply and what percentage of approved borrowers refinance with a co-signer — but did not receive a response in time for this review.
While these specifics aren’t publicly outlined, borrowers can typically confirm availability and co-signer considerations during the pre-qualification process or by speaking directly with a loan specialist before submitting a full application.
- Citizenship requirements: A United States citizen or permanent resident.
- Location restrictions: Not publicly disclosed by lender.
- Graduation criteria: Applicants don’t have to have graduated to be eligible to apply.
- School criteria: Borrowers must be attending or have attended a Title IV–accredited school.
- Percentage of borrowers with a co-signer: Not publicly disclosed by lender
- Other restrictions: N/A.
Friendly Finly Advice
College Ave, and other refinance lenders, may have additional criteria they may use to determine eligibility for potential borrowers. Always check the lender’s website and reach out to them with any questions to confirm or inquire about criteria.
Repayment, deferment, forbearance and discharge options
- Full Principal and Interest: Full monthly payments begin immediately after the loan is disbursed.
- Interest-Only Payments: Borrowers make interest-only payments while enrolled in school. This option helps manage monthly costs while slowing the accumulation of interest.
- Flat Pay: Borrowers pay a flat $25 per month while in school. This keeps payments low while still giving in-school borrowers a chance to chip away at interest costs.
College Ave offers repayment terms between five and 20 years for refinanceed loans.
- Deferred payments: No payments are required while the borrower is in school; full principal and interest payments begin six months after graduation.
We reached out to College Ave to discuss its forbearance policies in greater detail — including eligibility requirements and the length of payment relief available — but did not receive additional information in time for this review.
While College Ave indicates that hardship assistance may be available, the full structure of its forbearance options is not publicly outlined. Borrowers who anticipate needing payment flexibility should confirm how forbearance works, including interest accrual and usage limits, before refinancing.
- Death or disability discharge for borrower: Yes.
- Death or disability discharger for co-signer: No. If a co-signer dies, the primary borrower will be responsible for the loan balance.
- Co-signer release: Yes, if the borrower meets the lender’s credit and underwriting criteria, including being halfway through the repayment term, no 30-day delinquencies in the last 12 months and no bankruptcy, foreclosure, or repossession in the last 24 months. Also, borrower’s income must be twice as much as the remaining loan balance. Only the primary borrower may request cosigner release; cosigner-submitted requests are declined.
The College Ave customer service experience
- Loan servicer: College Ave
- Online chat support (Bot, live or both): Both bot and live chat options are available.
- Physical location or branch where potential borrowers can visit: No.
- In-house customer service representatives: Yes. Borrowers can contact the College Ave support team through live chat, text, phone, or email for assistance.
- FAQ experience: College Ave FAQ page answers over 30 questions regarding eligibility and application, as well as over 35 questions addressing account access, repayment, and policies.
- Provides borrowers a representative who works with them throughout the entire repayment process: Not publicly disclosed by lender.
- Offers a process for making and escalating complaints: Not publicly disclosed by lender.
- Has tools that allow applicants to calculate potential monthly payments: College Ave has a Student Loan Refinance Calculator.
- Typical time from loan approval to funding: Most borrowers receive an instant decision, and funding typically occurs within seven to 14 days after completing all required steps.
- College Ave’s track record with customers:
College Ave has a score of 4.5 out of 5 on Trustpilot, based on over 3,000 reviews.
Some reviewers praise the quick and easy application process, responsive customer service, and flexible in-school and repayment options. However, some borrowers express frustration with interest rates, variability in rate offers, and occasional communication or disbursement delays. These reviews are not solely based on College Ave’s student loan refinance product, but on the company’s services as a whole.
College Ave has received 61 Consumer Financial Protection Bureau (CFPB) complaints over the last 12 months.
Most complaints relate to loan servicing issues, difficulties obtaining a loan and credit reporting concerns.
Sixty complaints were closed with explanation, and 1 was closed with non-monetary relief, indicating that all cases received a formal response or resolution.
Perks and benefits
College Ave offers ongoing scholarship sweepstakes to help students offset education costs. Its $1,000 Monthly Scholarship Sweepstakes that awards one winner each month, while the $5,000 Graduate School Scholarship Sweepstakes provides additional support for graduate students.
To enter, students can submit a brief online form on College Ave’s website, and no loan application or purchase is required. Participants must be at least 18 years old and legal residents of the 50 U.S. states or Washington, D.C., with winners selected at random under the official sweepstakes rules.
Promotional offers
Borrowers can also receive a 0.25% interest rate reduction by enrolling in autopay. This discount helps borrowers save on interest and pay down their loans faster. Always check with the lender to confirm all offers, additional terms, conditions, exclusions and availability.
Friendly Finly Advice
Even if College Ave has competitive rates, compare multiple refinance lenders before committing to a loan. Prequalifying and comparing lenders is the best way to ensure you’re getting the lowest possible rate and the most affordable repayment plan for your budget.
How to apply for College Ave Student Loan Refinancing
- Check your eligibility.
College Ave generally looks for borrowers with completed degrees, steady income and a strong credit profile (or a qualified co-signer). Confirm that your loans and financial situation meet basic refinance requirements before applying.
- Pre-qualify online.
Start with College Ave’s online pre-qualification process to view estimated rates and repayment options. This step uses a soft credit check, so you can review potential offers without affecting your credit score.
- Choose your loan terms.
If you qualify, you’ll be able to compare fixed and variable rate options across multiple repayment terms. Selecting a shorter or longer term allows you to balance the monthly payment size with total interest cost.
- Complete the full application.
Submit a formal application with documentation, for example, proof of income, identity verification, and current loan statements. This stage includes a hard credit check.
- Finalize and refinance your loans.
After approval, read and sign your loan agreement. College Ave will pay off your existing lenders directly, and you’ll begin making one consolidated payment under your new refinance terms.
Prequalifying can be a helpful first step to determine whether College Ave’s rates and underwriting standards support your financial goals before submitting a full application.
Frequently Asked Questions
College Ave offers competitive rates for well-qualified applicants, and no application, origination or prepayment fees. Borrowers can also choose from multiple repayment terms and preview estimated rates through a soft credit check.
College Ave allows borrowers to refinance up to $500,000 for eligible medical, dental, pharmacy and veterinary degrees, up to $300,000 for most graduate and professional degrees and up to $150,000 for undergraduate degrees.
Yes. College Ave offers cosigner release after the borrower meets the lender’s credit and underwriting criteria, including U.S. citizenship or permanent residency, sufficient income, and a clean recent credit history. Only the primary borrower may request cosigner release; requests submitted by the cosigner are not accepted.
Yes. College Ave charges a late fee of 5% of the payment amount or $25, whichever is less, if a payment is more than 15 days late.
Methodology
Finly reviews student loan refinance lenders using a transparent, borrower-first methodology built around real financial outcomes. We evaluate lenders across six weighted categories—including cost, protections, flexibility and accessibility—using a structured scoring model grounded in what matters most to borrowers.
Our ratings are developed independently and regularly updated to reflect current rates, terms and lender policies, helping you compare options with clarity and confidence. Take a look at our Methodology page for an even more in-depth view of our scoring process.