College Ave Student Loans Completes $300 Million Securitization of Private Student Loans

Student loan marketplace, College Ave Student Loans, announced on Tuesday it has completed a $300 million securitization of private student loans, its third securitization and largest to date. According to College Ave, the transaction was oversubscribed attracting a broad and diverse group of repeat investors and new participants. Barclays and Goldman Sachs were joint lead underwriters on the transaction with Barclays serving as structuring agent and sole bookrunner.

Speaking about the securitization, Joe DePaulo, CEO and Co-Founder of College Ave Student Loans, stated:

“In our five years in the market, College Ave Student Loans has built and continues to have a strong reputation among the investment community. The successful third securitization and higher ratings from DBRS and S&P further confirms the outstanding quality of our assets and portfolio.”

College Ave went on to add that to date, College Ave Student Loans has $660 million in securitized loans and the company has secured more than $2 billion of committed loan purchasing power from multiple sources.

College Ave Student Loans Is Now Offering Special Graduation Loan For Harvard Law School Students

Student loan marketplace, College Ave Student Loans, announced on Monday it is offering a special graduate loan for Harvard Law School students through its new program, College Ave Harvard Law Program, which offers one low fixed rate (5.695% APR).

“The College Ave Harvard Law Program loan also offers an extended grace period of 9 months after graduation and can be deferred up to 12 months for a judicial clerkship. As with other College Ave loans, there are no origination fees or application costs, which can save qualified borrowers money over federal Grad PLUS loans. This program is available to both domestic and international Harvard Law School students.”

Speaking about the program, Joe DePaulo, CEO and Co-Founder of College Ave Student Loans, stated:

“We continuously listen to both our school partners and customers, and through that dialogue saw a unique opportunity to improve the experience for Harvard Law School students. We created a simple, straightforward loan with a great rate, tailored features, and an easy application so students can put their energy into their education and professional career ahead.”

Ken Lafler, Assistant Dean for Student Financial Services, also commented:

“Working with lenders to create new, lower-cost loan options for students is just one of the ways Harvard Law School is working to broaden access to a legal education. Combined with increasing amounts of need-based financial aid, as well as the Low Income Protection Plan, we are reducing barriers and making a Harvard Law School education affordable for everyone, regardless of means.”

College Ave Student Loans went on to add that in addition to the College Ave Harvard Law Program, it recently announced new financing options for graduate students pursuing degrees in business, law, medicine, and dentistry. The platform’s suite of graduate student loans features benefits for those pursuing specialized advanced degrees, including extended grace and deferment periods, longer repayment plans, and a higher aggregate loan limit.

College Ave Student Loans $65 Million Credit Facility from Guggenheim Investments

Student loan marketplace, College Ave Student Loans, announced on Thursday it secured a $65 million credit facility from Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners. 

College Ave Student Loans claimed the credit facility is another marker for it as the leading fintech lender in the student loan industry. To date, the platform has more than $2 billion in committed loan purchasing power. Speaking about the facility, Joe DePaulo, CEO and Co-Founder of College Ave Student Loans, stated:

“The credit facility from Guggenheim Investments enables us to accelerate our growth in private student loan lending and financing. The new financing highlights our strong, diversified capital structure and funding base that allow us to deliver best-in-class products for our customers and consistent performance for our investors.”

Founded in 2014, College Ave Student Loans’ mission is to offer the best student loan experience by simplifying the process and putting the borrowers in control.

“By specializing in student loans, we are able to give our customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual: we help you find your perfect fit. We offer competitive rates, a wide range of repayment options, and a customer-friendly experience from application through repayment.”

College Ave Student Loans Announces Completion of Second Successful Securitization

Student loan marketplace, College Ave Student Loans, announced on Tuesday it has completed a $199 million securitization of private student loans, its second successful securitization. According to the platform, the CASL 2018-A transaction completed over the summer, achieved higher ratings than College Ave’s inaugural securitization, receiving an ‘AA’ rating from DBRS and an ‘A’ rating from S&P for its senior notes. 

According to College Ave, the transaction was heavily oversubscribed attracting a broad and diverse group of repeat investors and nine new participants. Barclays and Credit Suisse were joint lead underwriters on the transaction with Barclays serving as structuring agent and sole bookrunner. Speaking about the securitization, Joe DePaulo, CEO and Co-Founder of College Ave Student Loans, stated:

“In its four years in the market, College Ave Student Loans has built and continues to have an incredible reputation among the investment community. The successful second securitization and higher ratings from DBRS and S&P further confirms the outstanding quality of our assets and portfolio.”

College Ave then added that based on the two successful deals, the marketplace anticipates it will offer an asset-backed bond opportunity at least annually. The securitization also marks a year of growth for College Ave Student Loans. To date, the company has secured more than $2 billion of committed loan purchasing power from multiple sources.

College Ave Student Loans Secures $30 Million During Fourth Equity Round

Student loan marketplace, College Ave Student Loans, announced on Thursday it secured $30 million during its fourth equity round. Investors of the funding round included new and existing participants, which included Comcast Ventures and Leading Edge Ventures. Speaking about the funding, Joe DePaulo, College Ave Student Loans co-founder, chairman, and CEO, stated:

“We are very satisfied with our recent capital raise. We exceeded our target funding goal this round, which reflects the rapid, smart growth of our company and the value investors see in us.”

Funds from the round will be used for College Ave’s growth and enable expansion in order to meet education financing needs. Dave Zilberman, Managing Director at Comcast Ventures, added:

“College Ave continues to prove their ability to grow their business by putting their customers first, all while navigating the intricacies of the student loan marketplace. We look forward to supporting this talented leadership team and the company’s continued growth.”

Founded by former Sallie Mae executives and industry veterans to address the needs of an evolving student loan landscape, College Ave began originating loans in December 2014.