College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

(1)As certified by your school and less any other financial aid you might receive. Minimum $1,000.

(2)The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.

(3)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.

Information advertised valid as of 4/19/2022. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

1. Lowest rates shown include the auto debit discount. Interest is charged starting when the funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 loan to a borrower who attends school for 4 years and has no prior Sallie Mae loans.
   Borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month and may be suspended during periods of forbearance or deferment.
2. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 9.09% fixed APR, 51 payments of $25.00, 119 payments of $165.12 and one payment of $120.52, for a Total Loan Cost of $21,044.80. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 9.47% fixed APR, 27 payments of $25.00, 179 payments of $119.57 and one payment of $55.39 for a total loan cost of $22,133.42. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.
3. With GRP, you can make interest-only payments instead of full principal and interest payments for the first 12 months of your repayment period or the first 12 months after your GRP request is granted, whichever is later. At the time of your GRP request, your loan must be current. A borrower may request GRP only during the six billing periods immediately preceding and the twelve billing periods immediately after the loan would normally begin requiring full principal and interest payments. GRP does not extend the loan term. If you’re approved for GRP, the Current Amount Due that you have to pay each month after it ends will be higher than it otherwise would have been without GRP, and your total loan cost will increase.
4. Only the borrower may apply for cosigner release. You must first meet the age of majority in your state and provide proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, you can’t have been past-due on any loans serviced by us for 30 or more days or enrolled in any hardship forbearances or modified repayment programs. Additionally, you must have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. The loan can’t be past due when the cosigner release application is processed. You must also demonstrate that you can assume full responsibility of the loan(s) individually and pass a credit review when the cosigner release application is processed that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default or 90-day delinquencies in the last 24 months. Requirements are subject to change.

Information advertised valid as of 05/13/2022.