Is College Ave a federal student loan?
The federal government offers Federal Direct PLUS loans to either graduate students or parents who want to pay for school. Some private lenders, such as College Ave, do not charge origination loan fees.
Do consolidated loans qualify for loan forgiveness?
Consolidation can lower your monthly payment by giving you a longer period of time (up to 30 years) to repay your loans. If you consolidate loans other than Direct Loans, consolidation may give you access to additional income-driven repayment plan options and Public Service Loan Forgiveness (PSLF).
What credit score do you need for college ave?
Just as if you applied to refinance your federal and private student loans at a brick-and-mortar bank, you’ll need a strong application to qualify at College Ave. A minimum credit score of 680 (or a cosigner with good credit) and an annual income of at least $65,000 will get you started.
Does College Ave do a hard credit check?
This online-only lender based in Delaware touts the fact that 99% of its borrowers make on-time payments and more than half began repaying their loan while still in school. While it does not disclose a minimum credit score requirement, you can prequalify for a loan from College Ave without a hard credit check.
When did College Ave start issuing student loans?
College Ave Student Loans launched in 2014, with a goal to create private student loan products that help students pay for school as easily and inexpensively as possible. Why should I choose the College Ave Student Loans Product?
Can you refinance federal student loans with College Ave?
Due to COVID-19, the Federal Government is offering benefits that only apply to certain federal student loans. These unique federal benefits will no longer apply if you refinance your existing federal loans with a private lender like College Ave.
Can a private student loan be consolidated with a private loan?
If you have private student loans, you can’t consolidate your loans with a Direct Consolidation Loan. Instead, you have to pursue private loan consolidation by refinancing your student loans. Student loan refinancing works differently than student loan consolidation.
Is there a way to consolidate federal student loans?
If you have federal student loans, you may have heard about Direct Loan Consolidation. With this option, you work with your federal loan servicer to combine your current loans into one large loan. There are some benefits to consolidating your loans: