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All graduate students also can receive a 6-month grace period extension after leaving school, while longer deferments are available for law students during clerkships (12 months) and dental and medical students during residency (12 months and 48 months, respectively).

These grace periods are longer than many lenders offer — especially the 9 months for non-health professional students. that creates college ave student loans refinance an honest option if you are a grad student who’ll need overtime before starting repayment.

Offers personalized rate estimates via a soft credit check.

Interest rates vary by grad school product.

International students are eligible if they apply with a co-signer who may be a U.S. citizen or permanent resident. College Ave may be a legitimate online lender that has been in business since 2014. College Ave offers private undergraduate, graduate and parent student loans while also refinancing existing student loans. College Ave lends private student loans. Before removing any private student loan, exhaust federal options first by submitting the Free Application for Federal Student Aid.

College Ave only requires a co-signer if you’re a world student. But applying with a co-signer may improve your chances of being approved for a personal student loan or qualify you for a lower rate of interest . College Ave doesn’t offer co-signer release on refinanced student loans. Co-signer release is out there on other College Ave loans if you’re halfway through your repayment term, have made your previous 24 payments on time and meet additional criteria.

Deferred Payment
Unfortunately, again, even paying $25 can be challenging for some borrowers if they study. In such a case, borrowers can choose a Deferred payment plan. This plan requires no payments during the studies, similar to federal loans. However, as no payment is made, the overall loan cost becomes the highest among the four repayment options.

Borrowers can defer their payments as long as they remain undergraduate students. Their studies should not be less than half-time to qualify for loan deferment. The repayment of full principal and interest will start six months after the graduation or the borrower’s study becomes less than half-time.

Repayment Period
College Ave prides itself on the flexibility of repayment, as mentioned before. However, the flexibility does not only cover multiple repayment options. The College Ave student loans also provide several repayment periods- 5,8,10,15 years.

Sure, if the borrower wants to repay the debt fast, such as in 5 years, the monthly loan payment amount will be high. On the other hand, if a borrower is able to afford only small payments, the repayment can take up to 15 years.

In general, it is hard for a student to meet credit and income requirements for loans. Hence, a cosigner can be required. In fact, 98% of College Ave student loans for undergraduates are with cosigners.

A cosigner can be a family member or another third-party individual who takes responsibility in case of the borrower’s non-payment. Hence, cosigners and borrowers share equal responsibility.

Releasing a cosigner from the responsibility can be possible if more than half of the repayment period has passed. In this case, the lender will check the most recent 24 months’ worth of payments. These payments should be consecutive, in full amount, and paid on time.

Applying for loans and getting rejections can impact credit history or performance. Hence, borrowers can hesitate to apply multiple times if they get a negative response. However, some lenders provide pre-qualification tests on their official websites. This tool collects information about the borrower and suggests a rate.

Keep in mind that this rate is only a recommendation, and the actual rate after application can be different. However, it is a good tool to create some expectations about the borrowers. Additionally, qualifying for College Ave student loans with this tool does not impact credit performance.

For International Students
College Ave student loans can be accessible to international students if they have a valid Social Security Number. Besides, it is necessary for international students to apply with an eligible cosigner.

2. Graduate Student Loans
If you are a postgraduate, master, doctoral or professional degree student, you can qualify to graduate student loans of College Ave. Qualifying graduate students can cover up to 100% of their education costs with College Ave student loans. Graduate loans can include tuition fees, expenses for books, supplies, or transportation. However, the school you attend should certify all costs. The minimum amount a borrower can get is $1,000.

Both international and local students can apply for these loans. However, as mentioned before, international students should have a cosigner and a valid Social Security Number.

Having a cosigner is strongly encouraged for graduate students because they can still lack income or reliable credit history. If they convince a family member or other third-party individual to cosign the loan, their chance to receive approval can increase.

The rate of graduate student loans starts at 1.89% and 4.24% for variable and fixed loans, respectively. However, the exact rate depends on borrowers’ creditworthiness, repayment options, etc.

The four repayment plans mentioned in the undergraduate loan section, as well as repayment periods, still apply to these loans, too.

The Recommended Timeline
College Ave recommends a five-step timeline to those in need of private student loans. In more details, the lender advises starting thinking about the total money needed and cosigner possibility 90 days before the school’s start date.

When there are only 60 days left, the applicants need to pre-qualify to get preliminary rates from different lenders and evaluate their options. It is necessary to apply for a chosen student loan with around 30 days left to the start of the academic period.

Once the borrower gets approval, the lender will contact the school to certify the costs. Around ten days before the school starts, the borrower should ensure that the school’s payment is scheduled. Finally, 30 days after the money is sent, the borrower will receive the loan statement.

Keep in mind that you can start making payments right away or defer payments during the study period. Sure, it is advisable to defer if you cannot afford payments. However, deferred repayment plans will lead to the loan with the highest total cost.

Application Process
It usually takes 3 minutes to apply and get a credit decision. If the decision is positive, the borrower will need to accept the terms, sign documents, etc. Once the borrower meets the requirements, the lender will send the school’s request.

The school should certify the costs, as mentioned before. The time required for this process is uncertain because each school has its operational speed. Sometimes certification can be done in a few days, while it can take weeks in other cases.

Once the lender receives the school documents, it will schedule the payment. Usually, the entire application and money transfer process takes around ten days, but again, it can be longer or shorter for your case.


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