College is on the mind of many readers these days. Many of you have college-aged kids, or children who you know will be there in the blink of an eye. When the time comes to consider college there are a lot of things to consider. If your child plans to go to college it’s likely the finances of college education will play a huge role in your decision. Because once consideration are made about the where, when, and what you have to sort out the financial side.
College can be an expensive endeavor, and for most families affording a college education isn’t easy. The majority of college students (and their parents) use a variety of means to pay for college including: savings, 529 plans, state funded college plans, college scholarships, grants, federal financial aid, and private student loans. It’s enough to make your head spin.
While you may have college savings, and you may receive grants or financial aid, when it comes time to consider student loans things can seem complicated. There are many reasons why it’s a good idea to consider loans when it comes time to pay for a college education. There is so much information out there and so many options that it’s tough to know if you’re making the right decision, though. When it comes to financing your child’s college education it shouldn’t be that difficult. It should be easy to figure out fees, payments, and the rules and regulations regarding your loan.
That’s where College Ave Student Loans comes in. Their goal it to simplify the student loan experience. That way you can focus on the important part-your student’s education.
What Makes College Ave Student Loans Different?
College Ave Student Loans is an online marketplace lender with a focus on private student loans. They use innovative technology and to connect families with lenders. They specialize in student loans, so you will get all the information you need in one place.
- Low variable rates: On any loan, students are usually balancing two things: paying as little interest as possible with monthly payments they can afford. College Ave offers the most choices for when to start paying and how long to pay back.
- Pay While You’re In School: Paying for your loans while you’re in school. You can pay for your loans while you’re in school and get rewarded for doing so with lower rates. Payments start at as little as $25 per month. This is a great way to ensure you’re not borrowing against your future. A part-time job or even your savings could be used to cover these payments. It’s almost like layaway for you education.
- No Fees: That’s right, zip. Zero. Zilch. No fees to apply, and no fees for paying the loan back early.
- Instant Decision: You won’t have to wait around to get an answer from College Ave. Apply in minutes and get an instant credit decision
- Rate Reduction For Automatic Payments: If you can commit to automatic payments you’ll get a 0.25% interest rate reduction when you sign up.
Student Loan Tools You Can Use
Now that we’ve talked about why College Ave is a smart option when you’re considering student loans, let’s talk about why they’re a resource. The site is chock full of helpful information to help you understand the process and so much more.
- How Much Do You Need?
One of the biggest questions parents and students want to know is how much they will need in funding. Thankfully College Ave makes it simple. They offer multiple ways to keep your loan costs down and rates low.
The College Ave Student Loans calculator is designed to help students and their families understand the total cost of borrowing and ways to save. Plus, College Ave encourages decisions like making in-school payments and picking shorter loan terms by offering lower interest rates when customers make those choices (thus reducing the overall total cost of the loan).
- What About Credit?
When you’re taking out a loan you’ll need to know what your student’s credit score is. College Ave also offers a unique credit pre-qualification tool. With three simple pieces of information (name, DOB, address), students and their parents can use the tool to find out if their credit score qualifies for the loan, and what rates they can expect. This all happens without filling out a full application or impacting their credit score. It’s a great tool for students, who are learning about how credit scores affect the loan, and for parents who want insight into what they should expect.
Check out the credit pre-qualification tool: here.
When it comes time (and it will soon!) for our oldest to consider his college career and path we will definitely be using all the resources we can get our hands on including the great resources and easy to use process at College Ave Student Loans.
What questions do you have about the student loan process? Have you been through it yourself? Or have you been through the process of setting up student loans for your children?
About College Ave Student Loans:
When federal loans, scholarships and grants aren’t enough, private loans are something families can consider to help fill that gap to pay for higher education costs. We understand that each family’s situation is unique with how to cover additional college costs – whether they look at paying out-of-pocket, using savings, trying to find a balance for college and saving for retirement, doing a mix of different payment options, using private loans, etc. Families should explore the best option (or options) for them.
Find out more about College Ave here:
Disclosure: This post is sponsored by College Ave Student Loans.