College Ave vs Sallie Mae
An honest side-by-side comparison of two of our top student loans picks — pricing, strengths, weaknesses, and who each one is really for.
College Ave
Ranked #5 of 15 in this directory
Student-focused private loans with customizable repayment terms
Sallie Mae
Ranked #2 of 15 in this directory
Largest private student loan lender with flexible repayment options
Our pick: Sallie Mae. Our editors rank Sallie Mae higher overall in Student Loans — but College Ave can be the better fit depending on your budget and use case below. How we review
Compare the details
| College Ave | Sallie Mae | |
|---|---|---|
| Pricing model | Paid | Paid |
| Starting price | See website | See website |
| Category | Private | Private |
| Editorial rank | #5 of 15 | #2 of 15 |
Strengths
College Ave
- ✓Highly customizable loan terms and payment options
- ✓Fast application with quick credit decisions
- ✓Multiple in-school repayment options available
- ✓Competitive rates for borrowers with good credit or co-signers
- ✓Parent loans available for families wanting to borrow directly
Sallie Mae
- ✓Multi-year approval feature locks in funding for up to four years
- ✓Wide range of loan types covering undergraduate through professional degrees
- ✓Multiple in-school repayment options to manage costs while studying
- ✓Free scholarship search tool and financial literacy resources
- ✓Competitive rates for borrowers with strong credit or co-signers
Watch out for
College Ave
- !Private loans lack federal protections and forgiveness options
- !Co-signer required for most student borrowers
- !Variable rates can increase substantially over time
- !Not available for international students without a US co-signer
Sallie Mae
- !Private loans lack the borrower protections of federal student loans
- !Variable rates can increase significantly over the life of the loan
- !Co-signer release requires 12 consecutive on-time payments minimum
- !No income-driven repayment or forgiveness options available
Best use cases
College Ave
- →Student wanting highly customizable private loan terms and payment options
- →Parent looking to borrow directly for their child's education costs
- →Borrower needing a quick credit decision for upcoming tuition deadlines
Sallie Mae
- →Student who has maxed out federal aid and needs additional funding
- →Parent co-signing a loan wanting multi-year approval convenience
- →Graduate student seeking specialized professional degree financing
About each tool
College Ave
College Ave Student Loans was founded by former Sallie Mae executives and focuses exclusively on private student loans and refinancing. The company offers highly customizable loan terms with 5, 8, 10, and 15-year repayment options and multiple in-school payment choices. College Ave is known for a fast, simple application process and quick credit decisions.
Sallie Mae
Sallie Mae is the most recognized name in private student loans, offering undergraduate, graduate, MBA, law, medical, dental, and career training loans. The company provides competitive rates with multiple repayment options including deferred, interest-only, and fixed repayment while in school. Sallie Mae also offers a multi-year loan approval feature that locks in approval for up to four years of college, eliminating the need to reapply each year. With robust scholarship search tools and financial literacy resources, Sallie Mae serves as a comprehensive education financing platform.
Still deciding? Browse all 15 options with honest pros, cons, and pricing.
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