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You must be enrolled at least half-time to qualify. Ascent student loans offers both fixed-rate and variable-rate loans to students, with flexible terms of up to 15 years and APRs that start from 2.46%. This Ascent student loans review will cover the following three main types of loan: You lean on this person’s credit to qualify for a loan. Ascent is a top rated private student loan lender for those seeking bridge loans or not qualifying for federal student aid. You can use Ascent’s prequalification tool to get a rate estimate and choose a repayment term that works for you. Ten years for fixed-rate loans. In our review of Ascent student loans, learn about their interest rates and terms. Ascent Funding LLC Review Ascent Funding LLC was founded in 2016 and is based in San Diego, CA. Your interest rate could also be up to 11% lower by using a co-signer, so consider that option first. Share on Pinterest. Interest will continue to accrue while you’re in school whether you pay or not. Future income-based loans only have the Deferred Repayment option. Share on LinkedIn. Fixed Repayment—You make monthly payments of $25 while you’re in school at least half-time. Allows greater-than-minimum payments via autopay: Yes. Your actual rate will depend on factors including your co-signer's credit history and financial situation. If you need the money quickly, contact your financial aid office. Allows biweekly payments via autopay: Yes. In-school repayment options for co-signed loan borrowers: Post-school and non-co-signed loan repayment options, $60,000 Scholarship Giveaway: Ascent gives away over $60,000 in scholarships annually. Ascent distinguishes itself by providing both the traditional co-signer loan and also the loan option for borrowers without a co-signer which is aimed at borrowers who lack a credit history, co-signer, or income. Best for medical students who want flexible payment options. Not only does autopay reduce your chances of missing a payment and incurring late fees, but it can also help you save money. Progressive Repayment—You start with lower payments after graduation. Your cosigner must have a gross annual income of at least $24,000. Company Overview: Ascent. The only loans eligible for the 2% automatic payment discount are non-cosigned future income-based loans. Check this list of private loan relief options to see what this lender offers. It can seem confusing at first but it results in more borrowers getting an almost customized student loan experience that ultimately saves them more money. Loan terms: Co-signed and non-co-signed credit-based options: Five, 10 or 15 years for variable-rate loans. Our ratings prioritize low interest rates and flexible repayment options that allow borrowers to repay loans faster and avoid default. Store and/or access information on a device. Read our editorial guidelines. Finally, as someone who’s reviewed many student loan lenders, I’m truly fascinated by Ascent’s future income-based loans. Ascent offers a cosigned student loan option and two non-cosigned options—a credit-based option and the other based on future income potential. Flat-fee repayment: Pay $25 every month while enrolled in school and during the grace period. Pre-qualified offers are not binding. Ascent also allows you to remove the cosigner from the loan. Accessed April 13, 2021. Online financial literacy course: If you’re approved for a loan, you’ll need to take a brief course before receiving funding. You can call 877-216-0876 during the following hours: You may also check your application status anytime by logging into your account at college.ascentfunding.com. You can pay a set monthly payment while enrolled in school at least half-time. If you’re not sure where to start, check out the best student loans available today. Soft credit check to qualify and see what rate you’ll get: Yes. Ascent Student Loans Review. Credible Partner In each article, Credible will identify if the lender is a partner lender. Freshmen, sophomores and those enrolled less than half-time are not eligible for future-income based loan. While other lenders have a simple structure for lending, Ascent offers a variety of combinations of loan options, terms, and discounts. This loan is available to students with no co-signer and no credit history. The reality is that not all college students have the luxury of having a solid enough relationship to a more credit-worthy individual to ask someone to be their student loan cosigner. Apply Now. Every school is different; while some are quick to certify, others can take weeks. Compare your private student loan options to make sure you’re getting the best rate you qualify for. Ascent also sticks out from the pack because it’s one of a few student loan lenders who will give out student loans without a cosigner, in some cases. Ascent will review your documents and issue a decision. For the non-co-signed credit-based loan, the student must have a minimum credit score of 680 and at least two years of credit history. Since there are no prepayment penalties, you may opt to make payments sooner. Ascent Funding is an award-winning lender, committed to revolutionizing how you pay for higher education at colleges and coding bootcamps.Ascent was named Best Private Student Loan for 2021 by Forbes Advisor, NerdWallet, and Money.com.Ascent empowers students from all economic backgrounds and disciplines (including DACA students) to maximize the return on their education … Borrowers are advised to look over more than one Ascent Student Loan review to get a fuller understanding of these standards. NerdWallet's ratings are determined by our editorial team. In addition to interest rates, look at lenders’ repayment alternatives and the flexibility they offer to borrowers who struggle to make payments. Best for students with a creditworthy co-signer. These features help borrowers pay off debt faster. No matter what your situation is, they likely have a loan option for you. Ascent offers a non-cosigned future income-based loan. A co-signer can help. Deferred Repayment—You don’t start making payments until six months after leaving school. Typical income of approved borrowers: Did not disclose. Its co-signed loan is best for students who want to use a co-signer and pay off loans fast. It has limited repayment options—especially for loans without a cosigner—and its 15-year loan term isn’t eligible for a fixed interest rate. July 8, 2020 by admin 0 Comments. Once you choose a loan term and repayment option, you can complete the full application and upload any necessary documentation. If you have a cosigner—a person with good credit and steady income who applies for the student loan with you—you can qualify for an Ascent student loan as an undergraduate or graduate student, regardless of what year you’re in. If you don't have access to a qualified co-signer, Ascent offers two non-co-signed options: credit-based and future income-based. To complete the application, you’ll need the following information: While federal student loans tend to have lower interest rates and better repayment options than private loans, they also have stricter limits on how much you can borrow. For the co-signed and non-co-signed credit-based options, borrowers must meet credit and income requirements. However, with Ascent you can get approved entirely on your own, without needing a cosigner. Recommendation score measures the loyalty between a provider and a consumer. List of Partners (vendors). 9/10. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Ascent Student Loans APRs are competitive and reasonable. Select personalised ads. In addition to interest rates, look at lenders’ repayment alternatives and the flexibility they offer to borrowers who struggle to make payments. In: Investments. Nevertheless, Ascent has some drawbacks. It offers student loans to undergraduate and graduate students and allows borrowers to get approved without a cosigner or an established credit history. To see what rate Ascent will offer you, apply on its website. All financial products, shopping products and services are presented without warranty. Lowest rates shown include an auto-debit discount.). Ascent empowers students from all economic backgrounds and disciplines (including DACA students). Still, even with up to six options, some loans still have restrictions. If you have to take out a private student loan, you may as well get some cashback in the process. Location: Available to borrowers in all 50 states. Graduating with a load of debt isn’t the best way to start your career. Ascent provides student loans to undergraduate and graduate students, but your eligibility for a loan is dependent on your year in school and whether or not you have a cosigner. Ascent Student Loans is a national private loan company that offers non-cosigned and cosigned loans for undergrad and grad students including: Non-Cosigned Future Income-Based Loans NerdWallet strives to keep its information accurate and up to date. future income) after graduation. Their site is very user friendly, there are no hidden fees, and there are plenty of ways to earn cash or get discounts on your loans. Submit the Free Application for Federal Student Aid, known as the FAFSA, to apply. Ascent also offers future income-based loans. That’s why NerdWallet’s student loan ratings reward lenders that offer a variety of loan terms, limit their fees and penalties, and extend borrowers multiple options to avoid default. If you don’t have a relative or friend with good credit, that can make it difficult to qualify for a loan. Read our. This option will likely save you the most money. With Ascent, there are no application or origination fees. When you take out a loan from Ascent, it’s a good idea to sign up for automatic payments. Check Your Personal Loan Rates Answer a few questions to see which personal loans you pre-qualify for. And to qualify for the lower end of its interest rate ranges, you’ll likely need excellent credit. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. That’s a major benefit that sets Ascent apart from other private student loan lenders. Our partners compensate us. Best for MBA students who want flexible payment options. Disclaimer: NerdWallet strives to keep its information accurate and up to date. On: June 12, 2020. Ascent Student Loan Requirements. Co-signer release available: Yes, for the co-signed loan option. Can qualify if you’ve filed for bankruptcy: Yes, after five years have passed. Also, there are no prepayment penalties, origination, application, or disbursement charges with Ascent private student loans. Ascent stands out by offering two types of student loans for all degrees: student loans offered with or without a cosigner with repayment plans assigned to each. Ascent does not offer student loan refinancing or consolidation. Must be enrolled half-time or more: Yes. Ascent is a five-star lender based on NerdWallet's student loan rating system. Typical credit score of approved borrowers or co-signers: Did not disclose. Read more. There’s no limit to how many referrals you can make. These include white papers, government data, original reporting, and interviews with industry experts. LinkedIn with Background If you need to borrow money to pay for school, qualifying for a student loan without a co-signer can be difficult, but Ascent Student Loans aims to change that. Fixed APR. Ascent’s non-co-signed future income-based option takes into account a borrower’s future earnings rather than emphasizing current income or credit as part of its underwriting process. There is no earning limit. Investopedia requires writers to use primary sources to support their work. There’s no penalty for paying off your loan early. Cosigned loans and credit-based loans without a cosigner only qualify for a 0.25% discount. Grace period of 36 months is longer than many lenders offer. To see what rate Ascent will offer you, apply on its website. 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