Ascent Review

Overview

An online lender offering a unique approach to loans for students and their parents, Ascent makes it easy to explore funding for your college education and can help you secure competitive rates and flexible terms without any hassle. Through their fully digital platform, you can tap into private funding for eligible colleges or bootcamps, and can quickly preview personalized rates in minutes without impacting your credit score. Built into the platform is a host of additional benefits including personalized coaching, educational resources, and potential scholarships and you will have exclusive access to on-going support both during schooling, and after you complete your education. If you are seeking a private student loan that goes beyond just basic tuition and that has no application, origination, disbursement, or early repayment fees, then Ascent is a great choice and is a highly rated and trusted platform for fast, easy, and affordable funding. 

Undergraduate Loans 

Available to both part-time and full-time students, Ascent offers a wide range of customizable loan types that can help you pay for 100% of all eligible schooling expenses and feature either fixed or variable rate APRs. The Ascent website will allow you to tap into tailored solutions for undergraduate degrees, graduate degrees, and even boot camp certifications, and this makes them a one-stop-shop for virtually all types of educational funding. For individuals who are just starting out in their post-secondary journey, there are 3 specific undergraduate loan opportunities for you to explore, which include:

• Cosigned, credit-based loans
• Non-cosigned, credit-based loans
• Non-cosigned, outcome-based loans

Which one is right for you will depend on whether you have an adult who is willing to cosign on a loan with you, and whether you want your personalized rate to be based on your existing credit history or your current, and future, GPA. Regardless of which loan you opt for, you will always be able to enjoy flexible and expanded repayment terms, competitive interest rates, and no application, origination, disbursement, or early repayment fees. You will also be able to stay on top of and manage your loan directly 24/7 through AscentConnect, a free mobile app available through the Apple App Store or Google Play Store.

Graduate & Bootcamp Loans 

If you’ve already completed your undergraduate degree but are now ready to take your education even further then Ascent has tailored loan products specifically for you, and they can assist you in paying for your masters, doctoral, or professional degree with or without a cosigner. Available in amounts up to $400,000, you can apply for loan opportunities specifically geared towards:

• MBA
• Dental School
• Law School
• Medical School
• Health Professionals
• PhD & Master’s Programs

Similar to the undergraduate loans that Ascent features, all graduate loans that are financed through Ascent come with no application fees, no origination fees, and no disbursement fees. Once you are ready to start paying back your loan amount, the only thing you are responsible for is the principal plus interest, which will be based on either a fixed or variable rate. Graduate students will also be able to take advantage of 1% cashback plus discounts for automatic payments once they are in repayment, and there are never any penalties for paying your loan back early. 

On top of the standard loan opportunities for both undergraduate and graduate students, Ascent also offers a unique chance to transform your career and fund your future with options for coding bootcamps. Giving you all of the resources you require to find an eligible school and secure the costs for both the program and living expenses, you will be able to fully commit yourself to an intensive program and can enjoy flexible repayment upon completion. With bootcamp loans, Ascent takes all of the guesswork out of the process and makes it as simple and streamlined as possible with one-of-a-kind options tailored completely to your needs. 

Application Process

Ascent has streamlined their digital application process to ensure it is as quick and easy as possible, and you can complete everything from start to finish online through their website. Broken down into 4 steps, the first thing you will need to do is to fill out the pre-approval form that will ask you questions about what school you’ve been accepted into, your program, who you are, and your employment information. If you are applying with a cosigner, there will be an included section for them to fill out alongside you, as both individuals will be taken into consideration when creating your loan offer. 

One of the great things about choosing to work with Ascent is that qualified borrowers can enjoy a near-instant decision about whether or not their application is approved, and in the majority of cases there are no lengthy waiting periods before you are shown your personalized rate. Preliminary decisions take about 5 minutes to receive, and if you are approved you can immediately move onto step 2 where you can select your preferred repayment terms and finalize the details of your loan. 

Those who opt to move forward with an approved loan can complete the entirety of it online through the web portal, which includes accepting any disclosures and providing any relevant information that Ascent requires. Inside your personal portal will be a list of tasks you need to complete before funds are dispersed, and it’s an easy way to track the progress of your funding without it being overly complicated or confusing. Once all tasks have been checked off, Ascent will send the loan to your school for certification, and then will disperse funds directly to the institution for a fast, seamless, and hassle-free experience. 

Eligibility & Requirements

When applying for loans, there are some eligibility requirements that you will need to meet in order for you to be approved for funding, and these will vary depending on the type of loan you have selected and your personal circumstances. For undergraduate loans, the chart below breaks down your 3 main options and what the current requirements are in order to be eligible for each one:

With regards to graduate loans, the eligibility requirements are similar to undergraduate loans and you will need to be a US citizen or be a DACA student or international student with a US citizen as a cosigner. You will also need to meet the minimum credit score and annual income requirements, with at least 2 years of credit history to your name. As for enrollment, you must be attending an Ascent-approved institution, and you must be attending classes at least half-time (6 credits per semester). Other eligibility requirements could factor into the approval process, and the best way to know for certain whether or not you qualify is to complete the free application form on the Ascent website, which takes only a few short minutes and will provide transparent answers about what funding opportunities are available to you. 

Fees, Terms, Rates, & Repayment

Just like with any financial product, there are varying rates available based on the type of loan you receive and your personal financial circumstances, all of which is taken into consideration at the time of application. With Ascent, all private student loans for both graduate and undergraduate degrees are available with either a fixed rate or a variable rate and below you will be able to see what the estimated rate ranges are, depending on which loan you are interested in securing. Starting with the 3 unique undergraduate loans, the rates, terms, and applicable fees are:

In the case of graduate loans, there are 6 main types and their rates, deferment periods, and applicable fees are shown below so you can better understand which option may be best suited to your needs.

A key reason why many students choose to finance through Ascent is the fact that there are no fees attached to the application process and you won’t ever be charged an origination fee or a fee to have the funds disbursed to the school. You also won’t have to worry about any repayment penalties, as Ascent allows you to pay off your outstanding balance early if you are able to. The only fee that Ascent does charge is for late payments, as well as a flat fee for any returned payments that do not go through. 

Post graduation, Ascent does allow students to defer payments for up to 9 months if necessary so you have ample time to find a career within your field and start earning an income before you need to worry about paying back your loan. For those accepted into a residency, that deferment period is extended up to 48 months and active military members will receive an extension up to 36 months. Once you are ready to start making your repayments, Ascent rewards you with a generous 1% cash-back bonus in the form of direct deposits, and you can even earn up to $525 in bonus cash for any funded referrals you provide. For even more savings, borrowers can also reduce their interest rate by 0.25 percentage points when enrolled in auto-pay, making the rates even more competitive and affordable over time. 

Bottom Line

Furthering your education is one of the best ways to secure a strong financial future, and if you want to land that dream career then getting your degree is a smart way to accomplish your goals. Thankfully, Ascent is here to make your dreams a reality with their easy-to-access private student loans that are designed for undergraduate degrees, graduate degrees, and bootcamp programs. Featuring competitive rates, flexible terms, and a lightning-fast approval process, Ascent gives you everything you need to succeed and will support you on your educational journey with personalized advice, free resources, and the opportunity to apply for free monthly scholarships. Requiring no application fees, no origination fees, no disbursement fees, and no early payment penalties, this award-winning loan provider offers tailored products with you in mind and is a top choice for students – both with and without a cosigner. To see for yourself what makes Ascent so popular, and to start an application, visit their website today and receive a free, personalized rate almost instantly without impacting your credit score.

⁰ APR — Annual Percentage Rate checked and accurate for all partners as of September 13, 2023. Actual APR may change at any time without notice.