College Ave may be a good option for a student borrower who has a strong credit history and steady employment with an average to above-average income.
| Loan Limits | $5,000 – $500,000* |
| Fixed Rates | 6.99%** – 14.24% |
| Variable Rates | 6.99% – 14.24% (25.00% Cap) |
| Terms | 5 to 20 years |
| Min. Credit Score | Undisclosed |
| Apply | Link |
*Maximum limits vary by degree requirements.
**Lowest rates always include the 0.25% interest reduction for enrolling in auto-pay.
Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ
| Private student loans | ✓ |
| Private parent loans | ✓ (in parent’s name only) |
| Federal student loans | ✓ |
| Federal Parent PLUS loans | ✓ (in parent’s name only) |
College Ave Refinance Rates & Fees
College Ave offers fixed and variable rates. Note that the lowest rates always include the 0.25% interest reduction for enrolling in auto-pay.
| Term | Fixed Rate | Variable Rate |
|---|---|---|
| 5 – 20 Years | 6.99% – 14.24% | 6.99% – 14.24% |
Additional information about College Ave refinance rates:
- Checking your rate with College Ave will not affect your credit score. They will conduct a soft, not hard, credit inquiry (learn the difference).
- Variable rates are determined using a margin with the 30-day SOFR (3.75% as of this writing) as published by the Federal Reserve Bank of New York on the 5th day of the month.
- Variable rates are capped at 25.00%.
| Year End | Fixed | Variable |
|---|---|---|
| 2025 | 6.99% – 14.24% | 6.99% – 14.24% |
| 2024 | 6.99% – 14.24% | 6.99% – 14.24% |
| 2023 | 6.99% – 14.24% | 6.99% – 14.24% |
| 2022 | 4.49% – 9.24% | 3.69% – 9.24% |
| 2021 | 2.99% – 5.19% | 2.94% – 5.09% |
Additional Fees
Beyond interest rates, there are a number of fees a refinance lender may charge up-front or during the loan servicing period. Below is a list of these fees that College Ave does or does not charge.
| Fee Type | Amount Charged |
|---|---|
| Application Fee | None |
| Loan Origination Fee | None |
| Disbursement Fee | Undisclosed |
| Prepayment Penalty | None |
| Late Payment Fee | $25 or 5% of the unpaid amount of the monthly payment |
| Returned Payment Fee | $25 |
| Collection Fee | Unspecified |
- Application fee – fee to apply for rates & approval.
- Loan origination fee – fee to create the new loan.
- Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.
- Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.
- Late payment fee – fee for making a late payment.
- Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check.”
- Collection fee – fee for collection activity on a defaulted debt. College Ave discloses a collection fee but does not specify a dollar amount.
Current Promotions & Offers
College Ave promotes monthly sweepstakes for borrowers to earn a $1,000 scholarship. No purchase is necessary to participate, but only current secondary and postsecondary students of the age of majority are eligible. The monthly drawing occurs on the fifth day of each month. Potential winners will be notified via email or telephone, depending on the preference they indicated in their online entry. Periodically, College Ave also advertises contests, scholarships, discounts, and other prizes. These are typically limited-time offers.
College Ave Refinance Eligibility Requirements
To qualify for refinancing with College Ave, all borrowers must meet the criteria below.
- Citizenship Requirement: U.S. citizenship or permanent residence.
- Income Requirement: undisclosed.
- Credit Score Requirement: undisclosed.
- Graduation Requirement: associate’s degree or above.
- Location Requirement: within the United States.
Additional restrictions apply for specific individuals and loans.
- The refinance limit is $500,000 for graduates with degrees in medicine, pharmacy, dentistry, or veterinary medicine.
- Those with undergraduate or other graduate degrees may refinance up to $300,000.
- Disclosures reference a debt-to-income ratio but do not specify limits.
- In order to refinance a loan, the loan must not have delinquent status.
College Ave Student Loan Repayment Options
Lenders vary significantly on the benefits and options provided to borrowers during the loan servicing period. Additionally, benefits may only be available on a case-by-case basis. College Ave offers some relief options.
Deferment & Forbearance
College Ave does not explicitly disclose any conditions that may make a refinance loan eligible for deferment or forbearance.
From an article about forbearance and deferment dated 2020 on the College Ave website: “As an example, College Ave may offer hardship forbearance, usually in three- or six-month increments depending on the situation.”[1]
| Condition | Coverage |
|---|---|
| Returning to grad school (Fellowship) | Unspecified |
| Disability rehabilitation | Undisclosed |
| Active military duty | Undisclosed |
| Involuntary unemployment | Undisclosed |
| Economic hardship | Undisclosed |
| Natural Disaster | Unspecified |
| Temporary Hardship | Unspecified |
Additional Options
College Ave may offer other opportunities for relief or contract modification.
- Co-signer release is not available with College Ave.
- Death / disability discharge may be available in the unfortunate circumstance that a borrower passes away or suffers total permanent disability.
College Ave Reviews, Complaints & Lawsuits
Beyond our own findings, our team also collected the most genuinely insightful customer experiences we could find, including any instances of legal action against the company in which the details became public.
College Ave Online Reviews
Below are 3 samples of College Ave customer reviews we found on public forums, included here for their value as unedited, uncensored, and unsolicited user experiences. Note that these reviews are unverified, may include inaccuracies, and may provide outdated information (about rates, bonus offers, etc.).
“Yes. I find them the easiest and most upfront to work with. Their app is easy also. I send money monthly via the app, and so does my daughter. I’m perplexed by what others are saying. It’s a fixed rate for that specific loan. The next year’s loan may have a higher interest rate because rates change. – Anonymous participant 950 on Facebook, 6/21/2025
“I took loans through College Ave when my federal loans didn’t cover everything. Had a solid experience with them.” – OhioBPRP on reddit, 5/3/2025
“So about a month ago I started the search for better rates on about 33,000 on my own loan and about 15,000 on my wife’s. Mine was for a mix of my bachelor/masters degrees. We ran our application through Credible and College Ave Loans (a leg of Nationwide) quoted us the best rates at just a bit over 4%. We also checked out a few other companies that weren’t included in Credible, but none beat the lowest rate.
First I refinanced my wife’s loans and I used her Credible referral link to sign myself up. Through the referral link we scored an additional $1,200 cash referral bonus that was transferred to us within days. 1k to the referrer (wife) and 200 to the new referral (me). I was worried about that part, but it was a smooth transaction.
Our loans which varied in providers (Firstmark, Navient, Nelnet, Etc.) all were paid off within 3 weeks of our application and I just set up my first payment through Nationwide/College Ave at a much better rate than we were at before.
We both have excellent credit, stable employment history, and our jobs are fairly middle of the road salaries.
Highly recommend Credible and College Ave based on my initial experience.” – Inception05 on reddit, 8/5/2018
More (unfiltered) customer reviews of College Ave are available at TrustPilot.com (4.5 out of 5) and ConsumerAffairs.com (1.0 out of 5).
College Ave Consumer Complaints
As consumer finance companies, student loan refinancing lenders fall under the jurisdiction of the Consumer Financial Protection Bureau (CFPB), a federal agency. As part of its mission, the CFPB allows consumers to log official complaints. These unverified complaints are publicly available on the CFPB official website.
Since April 11, 2017, consumers have submitted 226 complaints about College Ave Student Loan Servicing, LLC (College Ave) student loan product to the CFPB. College Ave averages one (1) complaint every 15.3 days, which is 236.0% faster than the average daily complaint rate among reviewed lenders.
In 2025, consumers filed 65 complaints about College Ave, which is 41 more than in a typical year. College Ave received 32 consumer complaints in 2024, equivalent to:
- eight (8) more complaints than it receives in an average year.
- one (1) complaint for every $409,375 of that year’s corporate revenue.
- one (1) complaint for every three (3) employees.
As of August 14, 2026, the CFPB no longer publishes consumer narratives detailing complaints although complaint categories are still available. For example, one-in-four complaints about College Ave refer to credit reporting or other personal consumer reports.
For a full list of complaints made against College Ave in the CFPB’s Consumer Complaint Database, click here. Note that complaints may be unverified and lenders with large customer bases are likely to receive complaints in greater numbers when compared with smaller lenders.
College Ave Lawsuits
College Ave has not been subject to any major legal action since its 2014 launch. Note that while this information is updated regularly, ongoing legal action is subject to change.
Frequently Asked Questions
These are the most common questions consumers have about student loan refinancing with College Ave.
- Is College Ave good for refinancing student loans?
College Ave may be a good option for a student borrower with a strong credit history and steady employment with an average to above-average income.
- Does College Ave have a minimum credit score requirement to refinance student loans?
College Ave does not disclose a minimum allowable credit score to qualify for student loan refinancing.
- Are College Ave loans federal?
College Ave loans are not federal. College Ave has no affiliation with the federal government or the U.S. Department of Education.
- Does College Ave charge a prepayment penalty?
There are no penalties for early payments or repaying a loan in full before its term is over.
- Does checking your rates with College Ave hurt your credit score?
College Ave performs a soft credit check for their prequalification process, which will not hurt your credit score. If you proceed with an application, however, College Ave will perform a hard credit check that may affect your credit score.
- Is College Ave a bank?
College Ave is not a bank, nor is it affiliated with any bank.
- Can I refinance a College Ave loan?
You can refinance a College Ave student loan or a student loan from another private lender. There is no limit to the number of times a borrower may refinance with College Ave. Note, however, that every new line of credit requires a hard credit check that may affect your FICO score.
- Can I refinance just some of my loans with College Ave?
Yes, you can refinance some, all, or just one of your qualifying student loans with College Ave. You may choose to refinance your private loans only or refinance private and federal loans together.
- Can I refinance loans that have already been refinanced?
Yes, you can refinance loans as many times as you want with College Ave. Note that each time you refinance, you will have to submit a new application; every application requires a hard credit check that may affect your credit score.
- Can my spouse and I refinance our loans together with College Ave?
College Ave does not allow spouses to combine their debts into a single refinance loan.
- How long does it take to refinance with College Ave?
After receiving a final loan disclosure, College Ave typically pays off all student loans within 3 to 4 weeks. The first repayment is due 25 to 55 days after loan disbursement.
- Who services College Ave refinance loans?
University Accounting Service (UAS) services all College Ave refinance loans.
- Does College Ave offer a grace period?
College Ave does not offer a grace period with its refinance loans.
- How often do variable rates change?
College Ave uses the 30-day SOFR. Rates update monthly.
- Can I get any special rates or discounts with College Ave?
Yes, College Ave regularly offers one-time deals and prizes in addition to monthly scholarship sweepstakes. This lender also partners with other organizations to offer their employees and/or members special deals.
- What happens if I file for bankruptcy?
Filing for bankruptcy will not necessarily discharge a College Ave Refinance Loan.
- Does College Ave partner with any refinance lender marketplaces?
Yes, College Ave partners with Credible as part of its multilender marketplace. Purefy‘s marketplace also features College Ave.
Compare Student Loan Refinance Reviews
| Lender | Rating |
|---|---|
| RISLA | A |
| Brazos | A- |
| ELFI | A- |
| Credible | A- |
| Advantage | B+ |
| Splash Financial | B |
| LendKey | B |
| Panacea Financial | B |
| UW Credit Union | B |
| Purefy | B |
| SoFi | B- |
| INvestEd | B- |
| Mpower Financing | B- |
| Earnest | C+ |
| Yrefy | C+ |
| EDvestinU | C+ |
| SC Student Loan | C+ |
| Sparrow | C+ |
| Citizens Bank | C |
| College Ave | C |
| ISL | C |
| MEFA | C |
| SuperMoney | C |
| SELF Refi | C |
| CU Student Choice | C |
| iHelp | C |
| Navy Federal | C |
| BECU | C |
| First Tech Federal | C |
| PA Forward | C- |
| Nelnet Bank | C- |
Sources
- College Ave, The Difference Between Student Loan Deferment & Forbearance
- College Ave, Student Loan Refinance
- College Ave Refi Education Loan Variable Rate Application and Solicitation Disclosure
- CFPB, Annual Report of the CFPB Private Education Loan Ombudsman
- CFPB, Consumer Complaint Database
- Dun & Bradstreet, Business Directory: College Avenue Student Loans, LLC
- Better Business Bureau, Search Businesses and Charities