If you want to learn more about student loans, then you have come to the right place. This article helps you learn more about College Ave Student Loans. You will know what they are and how you can use them to cover up to 100% of your school expenses.
What are College Ave Student Loans?
College Ave Student Loans is a private student loan lender launched in 2014 to help college and university students finance their education. Just like other private loan lenders such as Discover Student Loans, Wells Fargo, and Iowa Student Loan, College Ave provides student loans products that are subject to student’s approval and adherence to stipulated guidelines. Loans from this lender are made available through various banks such as Liberty Bank, Firstrust Bank and more.
Educational loan options
The lender offers private student loans to undergraduate students, graduate students and the parents of students who wish to commence or advance in their studies. Below are some of the options available to applicants.
For students who enroll for undergraduate studies, the variable rates of loans offered start at 2.20 percent and go up to 9.29 percent. For fixed rates, it ranges from 4.99 percent to 11.24 percent.
For students who enroll for graduate or postgraduate studies, their fixed rates of the loan offered start at 6.35 percent while variable rates start at 4.03 percent while.
For parents of students who wish to commence studies at university or college, their fixed rates start at 6.54 percent while variable rates start at 4.03 percent.
College Ave offers a wide range of repayment options that borrowers can use to repay the loans offered such as flat payment, interest only, interest payments, deferred and full principal. The interest rate may change depending on the repayment plan selected. Payments that are made while one is in school attract much lower interest rates.
The company offers flexible repayment term lengths such as 8-year term, 10-year term, 12-year term, and a 15-year term. Shorter term lengths mean that the loans offered attract much lower interest rates. However, loans provided to parents have repayment terms of between 5 and 12 years.
How to get approved Loans
To get approved for a private student loan from College Ave, you must fill out an online application and submit the required paperwork. The application takes at least 3 minutes to complete. Once your application is complete, you will get a credit decision instantly. Cosigners are also added to the online application directly.…