College Ave Parent Loan Review
College Ave is the new entrant on the student loan scene, and was founded by former Sallie Mae executives. College Ave positions itself as having flexible repayment terms and helps borrowers obtain a lower monthly student payment (not just a lower interest rate). College Ave also has a fast application process.
College Ave Parent Loan Overview
|Variable Rate:||4.32% - 6.29%|
|Minimum Loan Amount:||$2,000|
|Maximum Loan Amount:||Cost of Attendance|
|Minimum Loan Term:||5 years|
|Maximum Loan Term:||12 years|
*Fixed and variable rates are based on APRs and include an ACH AutoPay interest rate reduction of 0.25%.
Flexible Payment Terms
|Payment Plan||Overview||In-School Cost||Overall Cost|
|Interest Only Payment||Pay only interest charges each month while you are in school||Lowest||Highest|
|Interest Plus||Cover at least the interest charges each month, and then you can set your own monthly payment while the child is in school||Moderate||Moderate|
|Full Principal & Interest Repayment||Pay your principal and interest while in school||Highest||Lowest|
- Proof of income and employment (e.g., recent pay stubs) from co-signer
- Lemonade Tip: You can choose a loan term for your Parent Loan that works best for you – any number of years between 5 and 12 years.
- Lemonade Tip: College Ave’s Parent Loans are positioned as an alternative to the Federal Direct PLUS Loan and are designed for parents with strong credit who want to borrow by themselves for their children’s education cost.
- Lemonade Tip: In addition to funds for school, College Ave will deposit up to $2,500 in your account for extra education expenses.
Applying is super easy – get your new rate within 2 minutes
*Checking your rate will not affect your credit score.
3 Best Parent Loans in 2016
Want to save money on your Parent Loan? These lenders represent our top Parent Loan picks in 2017, and may be able to help you save thousands of dollars on your Parent Loan by offering lower interest rates and lower monthly payments. That’s real money back in your pocket.
Learn your new Parent Loan interest rate in a matter of minutes.
Parent Loans – Best of the Best
|Lender||Rates (APR)||Loan Terms (Years)||Get Your Rate||Learn More|
|4.44% - 6.54%||5 – 12||2 minutes||START SAVING|
|3.11% – 7.74%||5, 10||2 minutes||START SAVING|
*Make Lemonade is not a lender and does not make loans. We are a free, independent and unbiased website that helps empower borrowers so they can make more informed financial decisions. The rates, terms and other student loan information provided on this website do not legally bind Make Lemonade or the lenders referenced herein. The rates, terms and other student loan information are estimates and may change periodically and/or differ from your final rate and terms, which may be based on your individual credit profile and other factors as determined solely by the lender. If you would like to apply for a loan, please visit the website(s) of each lender and carefully review their rates, terms and conditions for further information. Average savings is for all customers generally, and not necessarily for this product specifically.