Startup Spotlight: College Ave Student Loans

The Wilmington, Delaware based fintech startup that offers students loans online recently sealed a $30 million investment deal.

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Joe DePaulo and Tim Staley launched College Ave in the I.M. Pei Building on North Market Street in Wilmington in December 2014. At the time, the company was the first new private college education loan provider to enter the market in about three years.

Joe DePaulo

Today, College Ave has 38 full-time employees and operates exclusively as an online lender. The company offers a simplified loan-approval process and features several tools for borrowers to calculate their monthly payments and total cost of a loan. The company also has added a mobile-friendly, credit pre-qualification tool and last year entered the student loan refinancing market.

Tim Staley

DePaulo is a former executive vice president of banking and finance at Sallie Mae, while Staley is a former chief information officer and senior vice president at the student loan giant. Both also are former MBNA executives and among the co-founders of Credit One Financial Solutions, a former Newark-based debt consolidation company.

College Ave allows you to:
  • Build a loan that fits your needs personally.
  • Apply in 3 minutes and get an instant decision.
  • No fees to apply or penalties for early payoff.
  • Configure a repayment plan that fits with your lifestyle.
Learn More Here

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