Find the Best Student Loans for You
- Undergraduate loans with or without a co-signer.
- Graduate loans with or without a co-signer.
- Medical and dental school loans.
- Loans for international students and Dreamers with a co-signer.
- Fixed- and variable-rate options.
The four-step process begins with completing an online application to receive a preliminary decision. After submitting your application, you can check your rates with no harm to your credit score.
You will then customize your loan terms, choosing between fixed and variable interest rates and repayment options. Also, you will need to upload documents to Ascent’s portal for review.
Once your loan is approved and your school certifies the loan amount – Ascent recommends reaching out to your school to find out how long this could take – you can review and sign your loan offer. If you don’t qualify for a loan in your name or for the full amount of your expenses, you could consider applying with a creditworthy co-signer.
Borrowers can choose from repayment terms of five, seven, 10, 12, 15 and 20 years. Several flexible payment options are available for undergraduate and graduate loans if you apply with a co-signer and meet other criteria.
The maximum loan amount is your school’s certified cost of attendance for one academic year, after accounting for financial aid.
Undergraduate student loans have variable annual percentage rates from 5.31% to 14.07% and fixed rates from 4.62% to 15.18% based on your loan and your creditworthiness. These rates reflect an autopay discount of 0.25 percentage point and a discount of 1% on the highest rate for future-income-based undergraduate loans.
Graduate student loans have variable APRs from 5.98% to 15.32% and fixed APRs from 5.44% to 16.43% based on your loan and your creditworthiness. Rates reflect the autopay discount of 0.25.
Loans must be current and not in modified or reduced payment programs to receive the autopay discount. All applicants have to complete a brief online financial literacy course as part of the online application process to be eligible for funding.
Forbearance or deferment options may be available at the lender’s discretion.
Borrowers can earn an autopay discount of 0.25 percentage point by making automatic payments on their Ascent student loan from a personal checking account. The discount jumps to 1.0 percentage point when you make automatic payments from a checking account on a future-income-based student loan with no co-signer.
Additionally, you can earn up to $525 for each college student you refer who applies for and gets an Ascent loan.
The lender also offers a 1% cash back graduation reward to borrowers who meet certain criteria.
Students must be enrolled either full time or at least half time at an eligible institution to qualify. For a future-income-based loan, you must be a full-time student.
If you are a student borrower without a co-signer and have at least two years of credit history, you must meet Ascent’s income requirements. Student borrowers need a minimum gross annual income of $24,000 for the present and previous years and must satisfy a monthly debt-to-income ratio.
Co-signers need a minimum gross annual income of $24,000 for the present and previous years.
Ascent requires a FICO credit score of 680 for applicants who do not have a co-signer.
Ascent provides student loans for those attending more than 2,200 colleges nationwide.
In U.S. News’ ratings of student loan lenders, Ascent Funding received 4.5 out of 5 stars overall, 3.9 for affordability, 4.6 for eligibility and 5.0 for customer service. The median overall rating for student loan lenders by U.S. News is 4.3.
Although Ascent Funding is not accredited by the Better Business Bureau, it received an A-plus rating. The Consumer Financial Protection Bureau received no complaints about Ascent in 2020.
You can reach Ascent’s customer service team through your online account or at 877-216-0876. Applicants and customers can also email firstname.lastname@example.org or access a contact form directly on its website. Call customer service from 7 a.m. to 5 p.m. Pacific Time Monday through Thursday and on Friday from 7 a.m. to 4 p.m. PT.
Ascent allows you to complete your application online. You can also prequalify online with no harm to your credit score.
Borrowers use the Ascent portal to upload required documents and check the status of a loan. You can make edits using the Ascent dashboard up until the loan is sent to your school for certification.
You will manage your loan, including making payments, using Launch Servicing online.
Payments may be deferred at the lender’s discretion for borrowers in financial distress.
Ascent offers three flexible repayment plans while the borrower is in school. These include fully deferred, interest-only and $25 minimum repayment plans.
These plans may be offered with up to a 20-year repayment term for some variable-rate graduate student loans, 15-year repayment terms for other variable-rate loans, and a 15-year repayment term for fixed-rate loans. Students must be enrolled at least half time at an eligible school, and the minimum loan amount is $2,001.
Contact the lender for more information about eligibility for loan discharge.
- Students who need to use a co-signer to qualify.
- Borrowers who would like flexible repayment options.
- Individuals who prefer to apply for and manage loans online.