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Student Loans

STUDENT LOAN PARTNERSHIP

Exclusive Benefit for Students at ÃÈÃÃÉç Member Institutions

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ÃÈÃÃÉç (ÃÈÃÃÉç) is partnering with College Ave to offer a simple, flexible private loan solution for students pursuing a degree in education (including teachers, special educators, counselors, principals, and superintendents). Even after considering your federal loans, scholarships, and grants, you may still have a gap to cover your total college costs. This member benefit gives you — aspiring educators attending ÃÈÃÃÉç member institutions — access to additional funding to help you reach your higher education goals.

Webinar Recording

Watch the full recording of our live webinar with our partners at College Ave as experts discuss ÃÈÃÃÉç’s new member benefit offering private student loan options, flexible repayment solutions, and exclusive benefits for education students. Learn how these resources can help support aspiring educators throughout their academic journey and beyond.

Provosts, Presidents, Deans and Students

Learn more about this exclusive ÃÈÃÃÉç benefit to help students reach their education goals.

College Ave Student Loans
FAQs

 

 

  • 3.00% principal balance reduction (applied at loan origination, max reward amount $599.99 for each loan)
  • 0.25% interest rate reduction *
  • 0.25% interest rate reduction for those who register for Auto Pay **

Yes.

Yes. The College Ave Parent/Sponsor Loan is available for any eligible borrower (parent, guardian, or sponsor) who wishes to apply for a loan on behalf of an undergraduate or graduate student.

Yes. College Ave’s simple loan application includes a credit check and will provide a real-time credit decision. College Ave employs a proprietary credit underwriting model that assesses a broad range of financial and behavioral risk indicators beyond FICO scores that are pulled from the credit bureaus. Interest rates, both with or without a cosigner, are determined based on this comprehensive evaluation, reflecting the totality of an applicant’s credit profile and ability to pay rather than a single score metric.

Is a cosigner required?
A cosigner is not required but is often needed for those borrowers who have not yet established credit or have a limited credit file. A cosigner can also potentially help you secure a lower interest rate.

A combination of factors, including but not limited to the repayment term and the repayment option selected by the borrower during the loan configuration.

Undergraduate and graduate students can choose from four repayment options, including three ways to make payments while you’re still in school: a $25 flat monthly payment, interest-only payments, or full principal and interest payments. Making payments during school can lower your overall borrowing costs.

As you complete your application, you’ll see how your repayment choice affects your interest rate. Options that include in-school payments come with lower interest rates.

After you’re approved, you’ll use our interactive loan setup tool to select your repayment option and loan term. You’ll clearly see how each choice affects:

  • Your monthly payment while in school
  • Your monthly payment after graduation
  • The total cost of your loan

This way, you can choose the option that works best for your budget now and in the future.

College Ave does not charge any application or loan origination fees. Creditworthiness is factored into the loan application decision and impacts the interest rate.

Interest is accrued as daily simple interest based on 365.25 days in the year.

Unpaid accrued interest is capitalized when the loan enters repayment and at the end of deferment or forbearance periods.

This varies by product type, as well as by the loan configuration choices.

a. What repayment options are available?

In school loans:

  • Full Principal and Interest (begin immediate monthly repayment of principal and interest)
  • Interest Only (pay monthly interest charges while in school)
  • Flat Pay (pay $25 per month while in school)
  • Deferred (make no payments while in school)

Undergraduate and Graduate borrowers can select a repayment term of 5, 8, 10, or 15 years

Parent/Sponsor Loan:

  • Full Principal and Interest (begin immediate monthly repayment of principal and interest)
  • Interest Only (pay monthly interest charges while the student is in school)

Parent borrowers can select a repayment term between 5 and 15 years (whole year increments)

b. Does repayment begin immediately or after the student graduates? Is there a grace period after graduation and, if so, how long does it last?

The grace period is 6 months for Undergraduate, 9 months for Graduate and repayment begins immediately for Parent Loan

c. Are there provisions for deferral or forbearance?

Yes.

d. Can borrowers change repayment plans if their circumstances change?

These requests are evaluated on a case-by-case basis.

Yes. College Ave offers a 0.25% auto-pay interest rate reduction for borrowers who elect to have monthly payments automatically debited from a valid bank account.

No.

Payments are first applied to any outstanding interest that has already accrued; after any interest is fully paid, the remainder goes toward reducing principal.

The fee is 5% of the unpaid monthly payment or $25, whichever is less.

We do not charge a fee for late payments currently but reserve the right to do so in the future. If a check payment must be returned due to insufficient funds (NSF), the borrower will be charged a $25 fee.

  1. Annual and cumulative borrowing limits:
  2. Origination Fee:
  3. Interest Rate (range and, ideally, average):
  4. Type of interest (fixed or variable):
  5. Repayment Plan options:

No.

*ÃÈÃÃÉç members receive a 0.25% interest rate reduction on In-school loans that are opened through ÃÈÃÃÉç. The member discount will be applied to your loan account after the initial disbursement occurs.

**Variable rates may increase after consummation. The 0.25% auto-pay interest rate reduction applies if a valid bank account is designated for required monthly payments. If the payment is returned, you will lose this benefit. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.

Disclaimer: ÃÈÃÃÉç does not endorse, recommend, or guarantee College Ave. or any other lender or loan product and is not responsible for the terms, conditions, underwriting decisions, or performance of any loan. All loan decisions are made solely by the lender, and ÃÈÃÃÉç does not guarantee that you will be approved for or receive a loan.