When you’re applying for a student loan, you can often choose between variable and fixed interest rates. While fixed-rate loans have the same interest rate for the duration of the repayment term, the interest rate on variable-rate loans can fluctuate over time. If you want to pay off your debt quickly, opting for a variable-rate loan can allow you to take advantage of the lower initial rate.
If you want the lowest rate possible, College Ave offers some of the lowest rates on undergraduate student loans as of October 1st, 2020:
- Variable Rates: As low as 1.24% (including 0.25% automatic payment discount).
- Fixed Rates: As low as 3.49% (including 0.25% automatic payment discount included.10
With College Ave, you can borrow up to the total cost of attendance. There are four different repayment terms to choose from, and you can defer your payments until after graduation or opt to make in-school payments.