Refinancing your student loans could lower your monthly payments and potentially reduce the overall cost of your loan. By combining multiple loans into a single one, repayment becomes more manageable and less stressful. Explore current refinance rates and get an instant decision on your application today.
Student loans are designed to help cover the costs of higher education. With College Ave, you can take advantage of competitive interest rates and a variety of repayment plans, allowing you to choose a schedule that works best for your financial situation.
Parent Loans are borrowed by a student’s parent or guardian to help pay for school. The loan is solely in their name, and they are fully responsible for paying it back. These loans can be used for tuition, books, housing, and other school-related expenses.
Student Loans can be in the student’s name, often with a cosigner. A cosigned loan means both the student and the cosigner (often a parent or guardian) share equal responsibility for repayment. This is different from a parent loan, where the student has no financial responsibility for the loan.
Federal student loans are provided by the government and require you to complete the FAFSA (Free Application for Federal Student Aid). These loans are typically the first option to consider. Private student loans, like those from College Ave, are offered by banks or private lenders and are typically considered after federal aid options have been used or if additional funds are needed.
Student loans can be used to pay for a wide range of education-related expenses, including tuition, books, supplies, housing, meals, and transportation.
With College Ave, you can borrow up to the full cost of attendance as certified by your school. This includes tuition, housing, books, and more.
The minimum amount you can borrow is $1,000.
College Ave does not currently issue loans for schools that are exclusively online. However, if you’re enrolled in an online program through a school that qualifies for federal Title IV funding, you may still be eligible. If you’re unsure, you can reach out to verify your school’s eligibility.
Yes, as long as the community college is a Title IV eligible institution, you can use a College Ave loan to help cover costs. If you don’t see your school listed in the application, reach out to confirm if it qualifies.
When do loan payments begin?
You’ll receive notices before repayment begins, with reminders about your first due date.
For student loans, you can choose from four repayment options:
Deferred: Make no payments while in school; full repayment begins 6 months after graduation for undergraduates and 9 months for most graduate students.
Interest Only: Pay only the interest while in school.
Flat Pay: Pay $25/month while in school.
Full Principal & Interest: Start full repayment immediately.
For parent loans, interest payments begin while the student is still enrolled.
If you’re struggling with your monthly payments, it’s important to contact College Ave right away. There are options available based on your situation, and a representative can help you explore the best solution.
It’s possible, but many students may need a cosigner due to limited credit history. A cosigner with strong credit can improve your chances of approval and may help you qualify for a lower interest rate.
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