Picture this: There you are, lounging on your upper middle-class living room sofa, watching late-night reality TV. Suddenly, reality strikes. You’ve got to finance your kid’s college education. Mother Teresa! The scholarships and federal student loans aren’t doing enough to pay for that frat party, er, I mean education. So, lo and behold, meet College Ave student loans – the real financial superhero you need!
Mad about finance? Fear not! Here we are, breaking it down for you. Now, brace yourself for some hardcore info and don’t let it overwhelm you. Alone, we are weak. Together, we are fascinating.
Meet Our All-Star Team: College Ave Student Loans & Friends
Top of the class is College Ave Student Loans. They stand out with their crazy low rates (starting at 2.89% APR*) and can cover 100% of your schooling costs—sounds too good to be true? It’s not!
Step right up, Sallie Mae. Borrowing is a breeze, whether you’re at a conventional uni or online. And their repayment plans are as diverse as a bag of Skittles. Sweet!
Third in line is SoFi®. Perks include no fees (yes, you read that right, darling!) and total cost of attendance coverage. Plus, they’re accessible to all us folks in the U.S, Puerto Rico, and the U.S. Virgin Islands. It’s almost as if you’re on a beach sipping a margarita, isn’t it?
Earnest sets the tone next! Offering low APRs, customizable loan options, and no early prepayment penalties. What did we do to deserve them?
Last but certainly not least, let’s give it up for ELFI. They come equipped with reasonable rates, speedy online applications, and zero app, origination, and prepayment fees. Sure knows how to make an entrance, doesn’t it?
Spotlight on College Ave Student Loan Overview
Say hello to our friend, College Ave. They’ve been around since 2014 and they exclusively handle student loans (talk about commitment!). It’s all gravy – quick applications, comprehensive loan options, flexible repayment plans – even your mother-in-law would approve. But remember, no rose without a thorn. The cons? Limited forbearance policies, late payment fees, and they won’t release your cosigner until half the repayment term is up.
Get on Board with their Services
Get this, College Ave doesn’t just serve undergrads—they’re the ‘Santa Claus’ to parent loans, post-grad loans, and even refinancing. Talk about boundless generosity!
Cool Features of Private Student Loans
Quite a line-up, isn’t it? They’ve got undergraduate, graduate, parent, and career training loans. There’s no need to break banks, folks—the minimum loan is $1000. As for repayment, they ensure flexibility. College Ave’s interest rates for each loan type are competitive or better, so you won’t be left crying over maxed-out credit cards.
Bummer Alert: What they Don’t Offer
Spoiler alert: College Ave can’t do federal loans. They take a rain check on certificate and trade programs; And they require eligible school enrolment for career loans. It’s not all wine and roses here, folks!
Getting Into The ‘Ave’
In terms of who can and can’t apply – they accept U.S. citizens, permanent residents, and international students with a U.S. Social Security number and a qualifying cosigner, as long as you attend an eligible school. How’s your credit score, though? You’ll need it to be in the not-too-shabby mid-600s and hey, don’t forget to consider your income and debt-to-income ratio too!
The ‘Ave’ Credentials
Back in 2014, College Ave stormed the credit scene. Now they’re a leading name in private student loans. Your money is safe with them, because your payments go Firstrust Bank, which boasts FDIC insurance.
Is ‘Ave’ Trustworthy?
College Ave is licensed in all 50 states. And since 2015, they’ve been accredited by the Better Business Bureau. They’ve also had a few run-ins with the Consumer Financial Protection Bureau, mostly due to payment issues.
Reaching ‘Ave’
Got the app-store fever? College Ave’s services are accessible online and through their app. You’ll find them on Apple’s App Store and on Google Play, with ratings to determine if it’s your next big tech romance.
How to Get in Touch
If you’re like me and prefer human contact to cyberspace, no worries. They’ve got a support team on the phones, and even a mailing address. You can get all cozy and text them too! I doubt they’ll send you goodnight texts, but who knows?
What’s It Like To Borrow From ‘Ave’?
Ever dreamt of a cool, calm, and collected lending process? College Ave has got you! They offer a loan calculator, quick offers based on your reality (creditworthiness, loan size, and other criteria), and a nifty blog full of tips to take to the bank.
How Happy Are ‘Ave’ Customers?
Is there such a thing as a happy debtor? Well, there might be at College Ave. Sure, they have a few low-rating reviews (what company doesn’t?), but the Better Business Bureau quite likes them. Plus, Trustpilot gives them a hearty pat on the back.
FAQ Round-up
Fresh off the ‘Ave’, you ask?
– What do you recon the loan cost is? Luckily, there’s no origination fee. Your monthly amount depends on your loan size, repayment term, and plan. Go home early, and you won’t be hit with the prepayment penalty fee.
– Can loans be forgiven? No such luck, chaps. Only federal student loans are eligible.
– Is a cosigner necessary? If you’re right out of high school, you’ll likely need a cosigner. But well-established individuals can apply alone.
– What’s the credit score requirement? Aim for the mid-600s.
– Is College Ave a direct lender? Technically, yes. They manage everything, but funds come from the impressive Firstrust Bank.
And there you have it—a complete College Ave student loans breakdown. Trust me, navigating the world of higher education financing can be throw-your-hands-up-in-the-air frustrating. But, with a helping hand from us, you should be feeling cooler than a cucumber at a summer BBQ. Here’s to ”Ave”-nging high college costs!