Do you have a child graduating high school this year? Are they planning to head off to college in the fall? Now the bigger question? Are they — and are you — financially prepared for college? College Ave Student Loans has launched a new Parent Loan that can save everyone money.
College Ave Student Loans
With two children already in college, and three more still to go, this is an important conversation in our home. Therefore, we had our older children invite their friends over (some graduating high school this month and others already in college) for a party to talk college loans. We were able to discuss how College Ave Student Loans helps to make the student loan process easy, simple and clear so they can get on with what matters most: a bright future. After all, in the end it’s going to be about the education they are able to secure through the journey.
By showing them the College Ave Student Loans student loan tools, the students — and parents — were able to get a better understanding of what they type of loan they would need. The loan calculators allowed each student to find a loan tailor-suited to fit their financial needs. From the Undergraduate Loan to the Parent Loan, there were options for everyone. Not to mention, with no origination fee and a lower fixed interest rate than the Federal Direct Parent Plus program, the new parent loan offers qualified parent borrowers an average savings of $1,000. When we’re talking college tuition, that is an adequate amount of money to go towards other things such as education costs. Everyone agreed that this was a great bonus!
Additionally, we discovered that College Ave Student Loans offers more flexibility to fit your specific financial situation than many other private parent loan options, such as:
- Option to get up to $2,500 deposited directly into parents’ bank accounts so they control the spending for extra education expenses like books, electronics, dorm supplies and more.
- Parents also have the option to start paying in full right away, or to limit monthly payments while the student is in school, and to pick their own repayment terms from 5 to 12 years.
Also, for parents who don’t want to take on the full responsibility for the loan, College Ave Student Loans also offers the option to cosign a loan with their student instead. That way the student also shares the responsibility for repayment. This further helps the students establish a sense of independence as they begin this new journey in life.
Personally, we liked this idea and enjoyed knowing that College Ave Student Loans offered us the flexibility to more easily decide which loan option was best for each of our students.
Do you have children heading to, or already attending, college? Are they financially prepared for the costs?
Learn more about College Ave Student Loans and make the best informed decision to fit your budgetary needs.
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.