Private student loan facts for 2021/22

How to qualify for this credit card alternative for college

In July 2021, we saw more students and parents approved for private student loans than any month in the past five years. If there's a student in your family or you're paying for college on your own, a private student loan is a fast and common way to access additional low- interest cash for tuition, housing and bills once you've maxed out your federal aid. To find out if you're approved, simply indicate if you are a cosigner or student borrower here and complete the College Ave application. Many people borrowed between $10,000 and $15,000 in 2021 for the 2021-22 academic year.

Greg Powel CEO, Money

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Facts about College Ave private student loans:

Simple Application Process Apply online in 3 minutes and get an instant credit decision.

Customized Repayment Make your payments work for you. Decide if you want to start repaying immediately or wait until you complete your degree.

Choice of Loan Terms Choose your repayment terms based on your budget. Options include 5, 8, 10, and 15 years.1

Full Coverage Cover up to 100% of your cost of attendance including tuition, fees, books, housing, and other costs.2

This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate ("APR"): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. As certified by your school and less any other financial aid you might receive. Minimum $1,000.

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