College Finance Private student Loan

College Finance is an industry leader in providing low-interest student loans with a variety of convenient repayment options and periods.

College Finance Student Loans is a private student lender that provides loans for students at all stages of their academic careers, including undergraduates, graduates, parents, and those in career training. College Finance offers both fixed and variable interest rates on their student loans, and those rates are among the lowest available. College Finance caters to anyone searching for a flexible and affordable student loan that may be tailored to their specific needs. The company offers a variety of repayment alternatives and periods.



  • Low variable rates
  • Flexible repayment options
  • Takes only 3 minutes to apply


  • No co-signer release until half the term has elapsed
  • No phone applications

A Quick Look at the Cost of getting a Loan at College Finance

Loan types: Undergraduate, parent, career

APRs: 2.99% – 14.86% variable; 3.99% – 14.96% fixed


Graduate Loan APR: 3.49 % – 12.99% variable; 4.24% – 12.99% fixed

Repayment terms: 5-15 years

Loan amount: Up to 100% of the cost of attendance


Origination fees: No

Loan Rates and Fees

As was stated, College Finance offers some of the most competitive interest rates on student loans, both variable, and fixed APRs. As is the case with other types of lenders, the most favorable interest rates are reserved for borrowers and co-signers who have an outstanding credit history. When you use autopay to make your monthly payments, you qualify for a rate savings of 0.25%. Both the aforementioned and aforementioned pricing takes into account the autopay discount. There is a possibility that variable rates will go up after consumption.

Loan Type Variable APRs Fixed APRs
Undergraduate loans 2.99% – 14.86% 3.99% – 14.96%
Graduate 3.49% – 12.99% 4.24% – 12.99%


3.24% – 12.99%

4.24% – 12.99%


3.24% – 12.98%

4.24% – 12.98%

Parent loans 2.99% – 14.91% 3.99% – 14.96%
Career loans 3.37% – 15.72% 3.99% – 15.82%

Repayment Options

You have the option of selecting one of the following payback terms from College Finance: 5, 8, 10, or 15 years. The longer the term of the loan, the lower your monthly payments will be; but, the total amount of interest you will pay will be higher.

In addition, College Finance gives borrowers the opportunity to select one of four different repayment plans while they are still attending school.

  • Full principal & interest payment. Start repaying your principal and interest right away to lower the overall cost of your loan.
  • Interest-only payment. Pay the interest charges each month as you go during school for a balance between moderate in-school payments and moderate overall costs.
  • Flat payment. Make a $25 payment each month during school to reduce your accrued interest.
  • Deferred payment. Defer your payment until after graduation, taking the pressure off during school but increasing the overall cost of your loan.

If the student borrower dies or suffers a permanent disability during the repayment term, the loan is forgiven.

Discounts and Rewards

Throughout the year, College Finance offers sweepstakes, contests, and giveaways to eligible student borrowers.

Promos are subject to change. Here’s what we found when we last checked in:

  • $1,000 College Finance Student Loans scholarship each month.
  • Win College Textbooks for a year.
  • For career training loans only, a one-off reward of up to $150 for every borrower.

Application Process

You can apply, and a decision will be provided to you within three minutes. If your application is successful, the next step is for you to accept the terms of your loan and electronically sign the associated paperwork. At that moment, College Finance will transmit the loan application to the educational institution for certification. It could take anything from a few days to a few weeks until the official confirmation of the loan is received, depending on the institution.

To qualify, you must:

  • Be a citizen of the United States or an international student having a valid social security number from the United States;
  • Must be enrolled in a degree program at a qualified school and must be attending classes at that school either full-time, half-time, or less than half-time;
  • Attain the required minimum number of points for your credit score. Exact credit criteria are not provided. College Finance, on the other hand, provides a free pre-qualification tool that tells students and co-signers whether or not their credit scores meet the requirements for the loan and what interest rates they might anticipate. Your credit score will not be affected in any way by using this tool; and
  • During the school certification process, you must demonstrate good academic achievement. College Finance will make a request for this information directly to your institution, and you will not be required to produce any further documents.

Co-Signer Options

The maximum number of co-signers that can be accepted for a single borrower is one. The co-signer is required to sign an agreement stating that they will share equal liability for the loan. This means that in the event that you, the student borrower, are unable to make your payments on the loan, the co-signer will be legally required to make the payments on your behalf and repay the loan.

If all of the following conditions are met, a student borrower who is a citizen of the United States is eligible to submit a request for the release of their co-signer after more than half of the originally planned repayment time has passed:

  • The most recent 24 straight payments were made on time, and there was no forbearance or workout program participation due to financial difficulty (the definition of an “on-time” payment is one that is made during the grace period so that no late fees are applied);
  • The borrower has demonstrated income for the preceding two years that is greater than twice the outstanding total of all of their loans with College Finance Student Loans, and the borrower has a cumulative grade point average of at least 3.0.
  • A study of the credit bureau reveals that there have been no instances of late payments on any other obligations over the past two years.

Customer Service

Although College Finance only accepts applications through its website, it does provide customer support over the phone for those who have questions. You can get assistance with your student loan by contacting customer support at 844-422-7502, sending a text message to 855-910-0510, or just clicking the “live chat” option on the College Finance website. The company is open Monday through Friday from 9 am to 8 pm Eastern Time.

About College Finance

Private student loans are offered by College Finance, a firm with headquarters in Wilmington, Delaware. 2014 was the year it was established. Loan products can be obtained through either M.Y. Bank or Firstrust Bank, both of which are members of the FDIC. Safra Bank, FSB, member FDIC.


College Finance excels in all of the most crucial features of student loans, including having low-interest rates, flexible repayment options, and the possibility to have a co-signer. There is not a clearly stated minimum credit score, and it might be challenging to secure a co-signer release. This adds a little amount of danger to the situation. On the other hand, College Finance is one of the most advantageous student loan alternatives available if either you or your co-signer are in a strong position in terms of your credit score.


For the academic year 2022-2023, CollegeFinance will make available an upgraded version of its CollegeFinance private student loan. The loan is exactly the same as the private student loan offered by College Finance; however, it comes with the following added feature:

  • Co-branded application (College Finance and CollegeFinance)
  • Free access to the leading student loan management and paydown provider, Candidly
  • $100 statement credit when the borrower opens a free Candidly account and links your College Finance loan
  • Student Loan Dashboard where borrowers can link and manage all their student loans (federal and private student loans) in one centralized location.
  • Gamified repayment features that can save a borrower thousands of dollars – and years of repayment time – on your student loans. These features include:
  • Round Up – register a debit card so that each purchase you make is rounded up to the nearest dollar and the round-up amount is applied to your student loan
  • Merchant Rewards – earn cashback from hundreds of merchants that is applied to your student loan
  • Friends & Family – invite friends and family to make contributions to your student loan repayment
  • Auto Pay – set an extra monthly payment of any amount to be applied to your student loan principal



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