College Ave

Pablo De La Cueva _{on Google}

Apr 9th, 2024

After years of sitting on this, I've finally decided to write a review. I originally took out a loan of $7,999 basically right out of high school, not understanding interest rates, fixed vs variable, etc. My college education was arguably too long, and essentially because of personal reasons, I was in school for 8 years. In this time, at an interest of 12.9%, my loan essentially doubled. That's right, straight after college my loan is at a total of $16,000. Obviously while I was still in school, and during the lockdown, I had to take use of some of their available options to pause payments. And, while I was still in school, my interest capitalized and became part of the principal on the loan, kicking up the payments from $130ish to $217, which is just bonkers to me. I wish there would be a more detailed education to 18 year olds who are applying for these loans. Like many other reviews mention, the treatment of customers is very inhumane and purely transactional. Not to mention, I had this company send me to collections while I was still in school once, not notifying me via email, and sending this communication via paper only DURING the lockdown. Insane to me how they are able to operate and I hope they're cracked down on. I just spent an hour on the phone for them to say that there aren't any options available, over and over again.

Ryan H _{on Google}

Mar 22nd, 2024

Application process is easy. It is easy to get a live person on the phone to help with issues. But.. the interest rate is SKY HIGH! My credit score is in the 800s and got over 11%. Also rate does not adjust to the balance of the loan. It stays 11% of the borrowed amount until its paid. Easy to get a loan but you pay for it!
UPDATE: I did call the service center and was told the interest rates would always stay the same regardless of the amount owed. I was told it will be $3.73 a day or $112 a month. Pay the same amount even if the loan balance drops by $8,000 it is going to be the same rate. So as I stated above, the interest rate is fixed and does NOT adjust to the new balance. This was what a service representative told me.

J G _{on Google}

Mar 20th, 2024

Stay away. Interest ridiculous.

Ka' Rita Eddings _{on Google}

Mar 16th, 2024

I wish I could give this negative stars. It is an absolutely HORRIBLE company, full of vindictive, malicious, and outright appalling with how they treat people. They ONLY care about money and have no consideration or care about the livelihood of people. They feed off of vulnerable persons and damage their credit insanely. College Ave is a SCAM and do not fall for it. If I could go back, I would NEVER use College Ave and will be a HARD advocate to deter anyone from using this service. It is not worth the pain and trouble and hardship. They are truly despicable.

Ryan Fitzgerald _{on Google}

Feb 22nd, 2024

Ive had to apply twice now just to get my loan for school, and now continue having problems accessing my account so I can see my loan and make payments. Ridiculous amounts of time and energy has been spent just to get one loan completed and to make payments.