Do I have to start paying back my loan while I’m studying for the bar exam?

This will depend on the type of loan you take out. You may qualify for a deferment period if you are clerking or working after your graduate. If you need extra financial assistance while you're studying for the bar exam, we do offer a separate Bar Study Loan. This allows you to primarily focus on your studies and passing the bar without having to stress over your finances.

Is it cheaper to refinance student loans?

Generally speaking, the more student debt you have, the more money you can potentially save by refinancing your student loans. Student loan refinancing will only save you money if you qualify for a lower interest rate or choose a shorter repayment term.

Calculators

Estimate any student loan with our Student Loan Calculator OR check out our Student Loan Refinance Calculator to help you understand and estimate your own private student loan options with College Ave.

Try out different loan amounts, interest rates, and repayment terms to see how different options affect what you’ll pay.

See what your new monthly payment could look like with a different repayment term or how much money you might save with a lower rate.

Let's get started, you've got this.

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The Importance of Financial Planning

With more repayment options, the less you have to worry. Why? Because the way you repay your loan drives how much you'll save in the end. And if you start making payments sooner-or pay more each month-you can lower the cost of the loan over time. When choosing your repayment options, consider how much you feel comfortable paying each month, and how quickly you hope to have your loan entirely paid off.

This way you'll feel confident that when you make your monthly payment it's working extra-hard for you.

Save more money
Invest your money more wisely
Reduce your risk
Reach your financial goals sooner

What are fixed and variable interest rates?

Fixed interest rates stay the same for the life of your loan. That means your monthly payment won’t change — easy to plan, no surprises.

Variable interest rates can go up or down over time, based on market trends. They often start lower than fixed rates, but your payment could increase later.

Which one’s right for you? If you like predictable payments, a fixed rate might be your best bet. If you’re looking to potentially save money early on (and are okay with some risk), a variable rate could make sense.

What are loan terms and how do they impact my payments?

Your loan term is the length of time you choose to repay your loan, like 5, 10, 15 or 20 years. It’s one of the biggest factors that affects how much you pay each month and how much you’ll pay overall. It’s all about finding the balance between what fits your budget now and what saves you money later.

What is in school loan deferment?

For Undergraduate and Graduate Loans, no payments are required while the student is in school. You can choose from our four repayment options:

Deferred: No payments until 6 months after graduation.
Interest Only: Pay only the interest while in school.
Flat Pay: Pay $25 per month while in school.
Full Principal and Interest: Begin full payments immediately.

For Parent Loans, monthly interest payments are required while the student is in school. Learn more about College Ave’s Parent Loan.

What is residency, fellowship or clerkship deferment?

Residency, fellowship or clerkship deferment allows you to postpone your loan payments during your residency, fellowship or clerkship program, hitting pause on your payments for a period of time. You should contact us in advance if you plan to use this option for your College Ave private student loans. It's important to know that your loan will continue to accrue interest even while in deferment so it's best to make payments, if you can, to continue paying down your balance.

Why should I make payments while in school?

Chipping in while you’re in school can really pay off. Even small interest or principal payments can keep your loan balance from growing and reduce what you’ll owe after graduation. Plus, it’s a great way to build smart repayment habits now, so you’re ready for what’s ahead. By keeping your balance in check, you’ll set yourself up for lower monthly payments later — and a smoother financial path after school.