As a parent, have you thought about how your kids will pay for college? Unless they are fortunate enough to receive a grant or scholarship, they will need roughly $40,000 for four years at an in-state public college, according to the College Board.
That amount increases drastically if they decide to attend a university out-of-state or a private college. Just thinking about sending my three kids makes me feel completely overwhelmed.
I was lucky enough to leave college without any debt, thanks to the grants and scholarships I received, but for many it’s not that easy. The reality is federal loans, scholarships and grants sometimes aren’t enough to cover college expenses.
Private loans are something you might want to consider to help fill that gap to pay for higher education costs. College Ave Student Loans is a great option to check out if you are looking to go that route.
College Ave Student Loans simplifies the student loan experience so you can focus on preparing for your future.
As an online marketplace lender with a sole focus on private student loans, they connect families who need to cover education costs with lenders who can provide that funding.
By specializing in student loans, they are able to give their customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual.
Benefits of Using College Ave Student Loans
- Low variable rates
- No fees to apply and no fees for paying the loan back early
- Apply in minutes and get an instant credit decision
- Get a 0.25% interest rate reduction when you sign up to make automatic payments
- Cosigners can help the student qualify and pay for the loan if needed
College Ave Student Loans never wants families to borrow more than they should, or to pay more than they need to for a loan. They offer a number of lending tools to help students and families make smart and informed lending decisions:
College Ave Student Loans Calculator
Designed to help students and their families understand the total cost of borrowing and ways to save.
It encourages decisions like making in-school payments and picking shorter loan terms by offering lower interest rates when customers make those choices (thus reducing the overall total cost of the loan).
With three simple pieces of information (name, DOB, address), students and their parents can use the tool to find out if their credit score qualifies for the loan, and what rates they can expect, all without filling out a full application or impacting their credit score.
It’s a great tool for students who are learning about how credit scores affect the loan and for parents who want insight into what they should expect.
Applicants who use the mobile-friendly application can expect a credit decision in less than three minutes.
College Ave understands that making loan payments while in school can be difficult, so they do not require students to pay while in school.
As an added incentive, however, they reward those making those good choices by giving lower rates for committing to make in-school payments (as little as $25 per month).
Parents can also help by making the payments while their child is in school. Then, the student can take over once he or she has graduated. This is a great way parents can contribute without taking on the entire debt in only their name.
College is an exciting time of your life. Paying for it shouldn’t get in the way of that! With some guidance and financial planning, you can get your degree without paying more than you should.
Let College Ave Student Loans help! They offer many options for when to start paying and how long to pay back. Visit CollegeAveStudentLoans.com to learn more.
What are your tips for paying for college?
I partnered with College Ave Student Loans to bring you this post. All opinions are my own.