College Ave was created to simplify the student loan process and make it easier for students to find suitable refinancing. On the surface College Ave seems to offer straightforward and low-cost debt consolidation options, but we will find out if that really is the case as we put College Ave under the microscope in our review.

College Ave

About College Ave

College Ave have a lot to offer, but there are some limitations. There loans may not be for everyone, and many students won't even have them as an option, as there are restrictions with regards to degrees, loan size, and more. Keep reading to learn more.

Basic Information

  • Address: 130 Rumford Ave, Ste 202, Auburndale, MA 02466-1370
  • Web Address:
  • Date of Founding: 7/17/2014
  • BBB Accredited? Yes, since 2015.

The Company

The man in charge of College Ave is Joseph DePaulo, who is the acting CEO, while a Mr. Tim Staley acts as the COO. College Ave are a fairly new company, having only been established in 2014, but they have made themselves known already and have loaned out a substantial amount of money to many young Americans in need.

Some similar companies include EdvestInU and U-Fi, which we have also reviewed here on DebtReviews. So be sure to check those out if it turns out that College Ave is not quite what you were looking for.

The Services

College Ave offer loans for students in need, including undergraduates. But before you jump in, there are a number of criteria that need to be met before you can be considered. Take a look below:

  • A credit score that is no lower than 700 (average is around 750).
  • A minimum income of $35,000 per year (average is around $70,000).
  • Good debt-to-income ratio (click here to learn more about this).
  • Cannot borrow if you have filed for bankruptcy.
  • Must be a U.S. citizen or resident.
  • Must be enrolled half-time.
  • Must attend a Title school.

On the plus side, there are a number of options that are very suitable to co-signers and these loans are also offered in all 50 states. In fact, it has been said that 95 out of 100 loans on College Ave involve cosigners.

The Reviews

Most reviews of College Ave are generally very positive. We couldn't find too many complaints, scam warnings, or bad reviews, all of which indicate a company that has a lot of angry customers and a company that doesn't always get things right. No doubt this has a little something to do with the fact that they are still a little wet behind the ears, so it's somewhat unfair to compare them to companies that have been going for decades and have had a chance to build up some hatred online. However, it's still a good sign for College Ave and their prospective customers.

College Ave Review

College Ave Review

So, what is it that sets College Ave apart from their rivals, what can they offer you as a student in need and are they one of the better student loan companies out there? These questions and more will be addressed in our College Ave review.

The Good

A Great Deal

With rates as low as 2.63% variable and 4.15% fixed, you’ll be hard pressed to find more appealing loan rates than those offered byCollege Ave. What's more, they have a minimum loan amount of $2000 ($5000 for a refinance), which makes them more accessible to the vast majority of students. We have covered many companies that have high interest rates and high minimums and it's fair to say that College Ave are in the minority, so this is a huge positive.

A Convenient Application

The initial loan application on College Ave is very simple and straightforward and can be completed in no time at all. They advertise that the application takes only 3 minutes to fill out, while also stating that they can provide instantaneous response.

As discussed already, College Ave provides a wealth of options for borrowers, including the ability to add a cosigner if the application does not meet credit and income requirements (which is highly likely for the majority of students), or using a parent, via parent loans. College Ave is the perfect setup for families looking to refinance and save some cash on student loans.

Useful Information

College Ave is helpful for individuals and families who are not familiar with the benefits of refinancing, or the process needed to acquire these loans in the first place. They provide in-depth content for each of their refinancing programs, helping potential borrowers determine what is the best option for their specific situation. College Ave also has an on-site loan calculator to help borrowers figure out exactly what their payment plan will look like.

The Bad

A Young Company

College Ave is a young company, and this will be a red flag for some prospective customers. However, it's worth noting that College Ave was founded by people with experience at large loan companies, so the knowledge is definitely there. They created this company because they knew how slow and problematic the industry could be and they wanted to change that.

This helps to put a positive spin on their relative inexperience, but it's still something that will raise concerns.

Not Universal

While College Ave do cover all 50 states, only students who have attended specific schools are eligible for their loans. Make sure your school is eligible for refinancing through College Ave by scrolling through their website. If your college is not there, you will need to find a different student loan refinancing company.

No Specific Preparation

Despite having a plethora of information for understanding what type of loans and refinancing programs are best suited to each borrower's specific situation, there is little information regarding how to prepare for the application itself. On the site, information regarding required documents are eventually provided, but it is not as efficient or user-friendly as it could be.

College Ave Reviews

The Bottom Line

With a low APR, flexible loan options, and high-quality refinancing services, young graduates will be hard pressed to find a company better than College Ave when it comes to refinancing their student loans.

However, College Ave does not come without its disadvantages, as discussed in our College Ave review. Many schools have not partnered with this relatively new company, which means their refinancing services are only available to a select number of schools. Additionally, College Ave is not as transparent as many other refinancing companies and are not as clear and specific as they could be in regards to the application process.

There are many more positives than negatives and this is why we recommend College Ave to students in need of student loan help, but there are still some issues to keep an eye out for.