College Ave vs Sallie Mae: Best Private Student Loans and Rates

Compare College Ave and Sallie Mae to see which student loan provider best meets your needs.
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Compare College Ave and Sallie Mae to see which student loan provider best meets your needs.

Timestamp Sections:

00:00 Intro
00:55 College Ave
02:21 Qualification
03:13 Benefits
04:38 Sallie Mae
05:34 How to apply?
06:32 Loan terms & Repayment options
07:18 Comparison
07:57 Summary
08:36 Outro

Hey everyone, welcome back to the channel. In today’s video, I’m comparing two top student loan lenders, Sallie Mae and College Ave. I’ll dive into their offerings, pros, and cons to help you decide which lender suits your needs best. By the end of this video, you’ll have a clearer understanding of which option is ideal for you. If you’re interested in trying either College Ave or Sallie Mae, use the affiliate links in the description for potential discounts.

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College Ave Overview
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Let’s start with College Ave, an online student loan portal partnering with multiple banks to offer a range of loan options. College Ave stands out by allowing students to prequalify using a soft credit check, meaning you can view approved deals without impacting your credit score. They offer loans from $1,000 to full tuition coverage, along with refinancing options.

College Ave provides both fixed and variable rate loans, starting at 4.29% and 5.59% respectively for undergraduates. The application process is quick, often taking less than three minutes to see if you qualify. Once approved, College Ave contacts your school to confirm enrollment and ensure the loan amount doesn’t exceed the cost of attendance. They also reward responsible borrowers by slightly lowering interest terms if minimum payments are made while studying.

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Sallie Mae Overview
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Next up is Sallie Mae, known for its straightforward application process and competitive rates for undergraduates, graduates, and career training loans. Sallie Mae offers useful resources like financial literacy tools and scholarships. They provide options for deferred payments and interest-only plans while you’re in school. However, Sallie Mae has fewer repayment options and loan term choices compared to College Ave.

The application requires personal info, school details, and the total cost of attendance. Having a cosigner can help secure lower interest rates. Once submitted, Sallie Mae provides a detailed loan breakdown and works directly with your school to disburse funds. Sallie Mae’s fixed undergraduate loan rates start at 4.15%, and variable rates at 5.37%, making them competitive with College Ave.

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Comparison and Final Thoughts
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Comparing College Ave and Sallie Mae, College Ave is dedicated to offering lower starting rates and encourages faster debt repayment by structuring loans to incentivize payments while still in school. College Ave offers more loan term options and a quicker application process, making it a flexible choice.

Sallie Mae, on the other hand, has slightly better rates and strong support services. Sallie Mae offers a 10 to 20-year loan term range with competitive rates for different programs. Ultimately, whether you prioritize the speed and flexibility of College Ave or the lower rates and support of Sallie Mae, both lenders provide dependable options for financing your education.

That’s all for this review! If you found this video helpful, give it a thumbs up and subscribe for more content like this. Remember to check out the affiliate links in the description for potential discounts on College Ave or Sallie Mae. Feel free to leave any questions or comments below, and I’ll respond as quickly as possible. Thanks for watching, and I’ll see you in the next video!

Hope you enjoyed my College Ave vs Sallie Mae: Best Private Student Loans and Rates Video.