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- Pay for your masters, doctoral, or professional degree with or without a cosigner.
- 1% Cash Back Reward upon graduation.
- Check your pre-qualified rates in minutes without impacting your credit score.
- Choose between fixed or variable interest rates.
- No application, origination, or disbursement fees AND there's no penalty if you pay off your loan early.
Ascent Funding is a legitimate and trusted lender offering access to financing for higher education. By offering student loans for international and Deferred Action for Childhood Arrival (DACA) students, the lender has now expanded their products to cover loans for general undergraduate and graduate students. The company also offers career loans and loans for coding bootcamps, expenses that are not typically covered by federal student loans or private loans from other lenders.
One of the standout features of Ascent Student Loans is that they have both co-signed and non-co-signed options issued to borrowers in all 50 states. This opens access to funding for many students with poor backgrounds or credit profiles.
Ascent's Undergraduate Student Loans
Ascent offers three student loan options for undergraduate students. You can choose a loan type based on your existing credit history, income, and career prospects. There are also personal financial requirements considered as part of the application process for each loan type.
COSIGNED CREDIT-BASED LOANS
If you have no credit or bad credit, you can take out a loan with the help of a creditworthy person. A cosigner with a good credit record may lower the interest rate and allow you to choose better terms. The lender will pull both your credit and the co-signer's credit during the application process, though.
NON-COSIGNED CREDIT-BASED LOANS
If you have a reliable income and strong credit history, you may qualify for a loan without a co-signer. You can choose from affordable fixed or variable rates, customize your repayment terms, and pay off your loan early without any penalty. Ascent's no-cosigner student loans have a number of features that set them apart from other loans, including a 1% cash back reward upon graduation and an automatic payment discount of at least 0.25% if payments are made by automatic payment.
NON-COSIGNED OUTCOMES-BASED LOANS
Juniors and senior students may qualify for a loan without a cosigner based on several alternative factors, such as school, program, cost of attendance Satisfactory Academic Performance or other factors. An outcomes-based loan can be a viable option for those who may not qualify for a credit-based loan. Students seeking a loan without a cosigner must be enrolled full-time or half-time within 9 months of graduation in a degree program at an eligible institution and meet the school's Satisfactory Academic Performance with a 3.0+ GPA or greater.
Ascent offers students fixed or variable interest rates and a range of flexible payment options including new 7 and 12-year repayment terms in addition to 5, 10, and 15-year terms, depending on the loan you choose. Borrowers can also use the Progressive Repayment option to pause payments for up to 9 months after graduating from or leaving school.
Ascent's Graduate Student Loans
If you're wondering how to cover your graduate school tuition and school-related expenses, there are many options available with Ascent. Borrowers are free to choose between a fixed rate and a variable rate, as well as repayment terms that range from 5 to 20 years.
There are flexible repayment plans available to students who are enrolled at least half-time at an eligible school and during the grace period. Borrowers have the option to either wait up to 9 months after their graduation from the program or start making payments while they're in school.
Ascent's bootcamp loans
Bootcamp loans are consumer loans for those seeking to transform their career at a bootcamp or an accelerated-learning program. There are two ways to qualify for an Ascent bootcamp loan: on your own, or with a cosigner. Depending upon your credit health, a cosigner might be required. You can choose to add a cosigner before you submit your loan application, or you may be given the option to add a cosigner after you apply.
Borrowers get a monthly repayment plan with low payments, fixed rates, and no prepayment penalties.
Do you need a co-signer?
It's not necessary to have a co-signer. However, to qualify for a private student loan, you have to meet certain credit score and income requirements.
If you can't get a loan in your name or the amount you need to cover all your expenses, you might want to apply for a student loan with a cosigner who assumes the responsibility of making payments in the event of your failure.
Students with Deferred Action for Childhood Arrival (DACA) status or who are not a U.S. citizen or U.S. permanent resident can apply for Ascent Student Loans only with a creditworthy cosigner that is a U.S. citizen or U.S. permanent resident.
Additionally, after making twelve consecutive full principal and interest payments on-time or an equivalent prepayment amount, you can apply to release your cosigner.
How much you can borrow with Ascent's college loans?
The Ascent loans set the minimum amount at $2,001 except Massachusetts. The minimum loan amount for borrowers who live in Massachusetts is $6,001. Maximum loan amounts range from $200,000 for undergraduate loans to $400,000 for graduate loans. However, the maximum loan amount is limited to the total cost of attendance for a full academic year ($200,000 for undergraduate and graduate credit-based loans, $20,000 for undergraduate non-cosigned outcomes-based loans).
Additionally, Ascent offers the following benefits that can help borrowers save money with college loans.