College Ave Student Loan Refinance Program
College Ave Student Loan Refinance
Many people use student loans to be able to complete their educations. While these loans make expensive education options possible for us, it can be difficult to repay multiple loans with high-interest rates for long years. Fortunately, many student loan lenders offer to “refinance” or “consolidate” your existing loans into a single one that is easier to pay. College Ave Student Loan Refinance is one of these options. In this article, we take a look at this useful loan refinancing program. You can read the details of this refinance loan, down below.
College Ave student loan refinance stands between other alternatives by having some highly customizable aspects such as unusual repayment terms. However, this loan option lack of a few particular features compared to other options. Let’s get into the details.
Details of College Ave Student Loan Refinance
College Ave student loan refinance is praised by many customers who used it for dealing with their student loans. Compared to similar companies, College Ave offers some advantages to its customers. For example, the company helps you by giving you an estimated interest rate when you want to apply for College Ave student loan refinance, without affecting your credit score. Normally such queries harm your score. So, here are the details of the student loan refinance option of this company:
Of course, like all loans, to be able to benefit “College Ave student loan refinance”, you must meet a set of requirements. First of all, you have to be a citizen of the US. If you are not a citizen, but you are a permanent resident, it is also accepted. And, you need have graduated from a school which is accredited under Title IV.
In addition to these requirements, just like any other private loan, you also need to have a certain financial status to be able to use College Ave student loan refinance. Fortunately, unlike most lenders, College Ave has openly disclosed the financial requirements for its student loan refinance.
For your credit score, the company criteria require you to have at least more than 600 points. And, you need to have $65,000 worth of provable yearly income. However, note that, even if you have a higher income, you still need to meet the debt/income ratio requirement of the company, which is 50%. This requirement means that you shouldn’t have more than half of your monthly income worth of monthly payments for registered debts in total.
College Ave Student Loan Refinance can be a good option especially if you are looking for a refinancing option that you can choose a repayment term that is not offered by other alternatives. While most companies allow you to choose from a few options -for example only 5, 10, and 15 years-, College Ave allows you to choose any number of years between 5 years and 20 years.
College Ave Student Loan Refinance allows you to choose either fixed interest rates or variable interest rates for your repayment. While the fixed option gives you a stable interest rate that will let you know the amount that you will need to pay each month, variable version changes time to time and makes the monthly payments change some times. However variable rates are typically lower. So basically you exchange the stability of your payments for lower rates with this option.
Usually, the interest rate that a lender company will calculate for you will be something within a certain range depending on your credit score, your financial status and if you decide to add a cosigner, their credibility. For College Ave Student Loan Refinance, this range will stay between 3.49% and 8.24% for fixed interest rates, but between 2.74% and 7.49% for the variable interest rate.
Also, you can actually benefit from an additional discount on the interest rate you get from the company. College Ave Student Loan Refinance offers anyone who sets up an automatic payment for their loan repayment a 0.25% interest rate discount.
We should also mention again that College Ave offers to give you an estimated interest rate for your application beforehand, without reflecting any harm on your credit score. Normally, such queries affect your credit score each time they are executed. So, you wouldn’t want to ask for it if you are not determined to apply for a loan. But, it is ok with College Ave Student Loan Refinance.
Most student loans refinance programs you can find have limits that they can cover. These limits determine both the maximum amount of student loan debts you the program cover and the minimum total debt amount you need to have to use the program.
For College Ave Student Loan Refinance, you need to have at least $5,000 worth of student loan debt in total to be able to use the program. However, the upper limit of the program is different for some cases. Normally the program offers to cover a maximum of $150,000 worth of student loans. But for some professional degree graduates such as dental, medical, veterinary, or pharmacy degrees the company College Ave Student Loan Refinance can cover $250,000 of your student loans debts.
Choosing College Ave Student Loan Refinance
Overall, College Ave Student Loan Refinance is a good option that has many clear financial requirements. However, these financial requirements can be difficult to meet for many people. If your financial status allows you to apply for this program, College Ave gives you many options and benefits.
For example, the company doesn’t charge you if you want to make prepayments for your future payments to shorten your repayment terms. Also, there is a deferment option for College Ave Student Loan Refinance if you join Military.
If you believe that this program suits you, you can find more information about it from the company links on this page. Also, to find more alternatives similar to College Ave Student Loan Refinance you should check the related links on the same category. We have many review articles for student loans and student loan refinance programs. You can find the best student loan offers for you by following our website.
Get More Info to Make a Decision
If you are interested in College Ave Refinance Program after reading this article, you can find more information through the company links given on this page. We also recommend you to read our other reviews for similar student loan refinance options. You can find those articles from our related links and category pages.
You can learn more about the College Ave Student Loan Refinance program, you can get more information from the company links on this page. And if you are interested in similar student loans, you can find more reviews through the related links.
Also, if you are interested in loan services, we have many loan articles about the alternatives you may like which you can find through the links.
For Updated Info
▌ Tip: Some information given here may be obsolete and changed, you can find more updated and current information about College Ave Student Loan Refinance by checking the lender company links on the page and the “tags” below.