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If you’re looking for extra money to pay for college because your financial aid package came up short, Ascent offers two private student loans worth considering. Find out more about the company’s loans, interest rates, perks, and eligibility requirements for Ascent student loans.

In this post:

Ascent Student Loan review

Ascent offers loans to undergraduate and graduate students with fixed or variable rates, with features like:

  • Flexibility for students who don’t have a cosigner
  • Perks like 1% Cash Back Graduation Reward and 0.25% autopay discount
  • No application, origination, or disbursement fees
Rates from (APR)Fixed: 4.21%+
Variable: 3.16%+
Loan amounts$2,000 to $200,000
(depends on loan being credit tested or not)
Loan terms5, 10, or 15 years
(depends on having a cosigner or not)
Min. credit score680
FeesNo application, origination, or disbursement fees
Prepayment penaltyNone
Discounts0.25% interest rate reduction for enrolling in autopay
Cosigner releaseCan apply to release cosigners after making 24 on-time principal and interest payments
(Must meet certain credit requirements and be a U.S. citizen or permanent resident)
Min. incomeAscent Cosigned loan:
Applicant or cosigner must have minimum gross annual income of $24,000

Ascent Non-Cosigned loan:
No minimum income requirement
ResidencyAscent Cosigned loan:
Students who are not U.S. citizens or U.S. permanent residents may apply with a cosigner who is a U.S. citizen or U.S. permanent resident

Ascent Non-Cosigned loan:
Must be U.S. citizens or have U.S. permanent resident status
RepaymentAscent Cosigned loan:
Choose monthly in-school payments (interest only, or $25 monthly minimum), or defer payments until 6 months after leaving school

Ascent Non-Cosigned loan:
Deferred payments with 6-month grace period after leaving school
EnrollmentAscent Cosigned loan:
Must be enrolled at least half-time or accepted for half-time enrollment at an eligible school.

Ascent Non-Cosigned loan:
Must be enrolled at least full-time or accepted for full-time enrollment at an eligible school
Other perks
  • 1% Cash Back Graduation Reward
  • Borrowers facing financial hardship may be granted deference or forbearance
Loan servicerLaunch Servicing, LLC

Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available

See: The Companies Offering the Best Private Student Loans

Ascent private student loan offerings

Ascent offers two private student loans:

  • Ascent Cosigned: This loan is primarily aimed at undergraduate and graduate students who have a creditworthy cosigner. Depending on your cosigner’s FICO score, rates on Ascent Cosigned loans can be very competitive.
  • Ascent Non-Cosigned: This loan is tailored for students who don’t have a cosigner. Unless you have a very good credit history and earnings, you can expect to pay higher rates if you take out a private student loan without a cosigner.

Ascent Cosigned loan

The Ascent Cosigned loan is aimed at borrowers who have a cosigner. More than 90% of private student loans are cosigned. So even if you can get approved without one, having a cosigner can help you get a better rate.

You could qualify for this loan if you meet the following criteria:

  • You apply with a creditworthy cosigner with a FICO score of at least 660
  • Your cosigner has enough income that they could comfortably make your loan payments if you’re not able to
  • You’re going to school at least half-time

You can apply for the Ascent Cosigned loan without a cosigner, but you’ll need to meet the same minimum credit score and debt-to-income requirements Ascent has set for cosigners.

If you’re applying with a cosigner, it’s OK if you have less than two years of credit history or no credit score. But if you do have a FICO score, it can’t be below 550 or you’ll be disqualified — even if your cosigner meets Ascent’s standards.

Another plus is that you don’t have to be a U.S. citizen or permanent resident to qualify for the Ascent Cosigned loan, as long as your cosigner is.

Compare Ascent Cosigned Loans

Ascent Non-Cosigned loan

The Ascent Non-Cosigned loan is designed for borrowers who don’t have a cosigner and offers more flexible eligibility.

You could qualify for this loan if:

  • You’re going to school full time and maintaining a 2.50 grade point average
  • You’re a junior, senior, or graduate student
  • You’re a U.S. citizen or permanent resident

There’s no minimum income requirement to qualify for the Ascent Non-Cosigned loan and, if you have less than two years of credit history, there’s no minimum credit score requirement either. Ascent says it can evaluate your loan application based on factors like your school, program major, future earning potential, academic progress, and credit history.

However, if you have two years (or more) of credit history, the minimum FICO score to qualify for the Ascent Non-Cosigned loan is 660. You may also get better rates and terms if you earn at least $24,000 a year and can make your student loan payments on your current salary without exceeding Ascent’s debt-to-income threshold.

Repayment plans

Ascent Cosigned loan

Ascent offers three repayment plans for the Ascent Cosigned loan, which you select when applying for a loan. You can change to a different repayment plan while you’re still in school. The three plans are:

  • Interest only: If you can afford to pay your interest charges while you’re still attending school, that keeps your loan balance from growing.
  • $25 minimum monthly payment: If you can’t afford to cover all of your interest charges, you can make a monthly payment of at least $25 while you’re still enrolled in school.
  • Deferred repayment: With deferred repayment, you don’t make payments until 6 months after leaving school. The drawback of this approach is that interest charges rack up while you’re in school and are added to your loan principal once you enter repayment.

Ascent Non-Cosigned loan

If you’re applying for the Ascent Non-Cosigned loan, deferred repayment is your only option.

But as is always the case for student loans, there are no penalties for prepayment. You’re always free to make any additional principal and interest payments that you can afford — even if you’re still in school.

Loan repayment terms

The loan repayment term is also selected when you apply for a loan. Once you enter repayment, you’ll have 5, 10, or 15 years to pay back an Ascent Cosigned loan, and 10 or 15 years to pay back an Ascent Non-Cosigned loan.

How to apply for an Ascent Student Loan

Ascent can be a great match for borrowers who don’t have a cosigner. But other lenders may also be willing to offer you better rates, so it’s important to request rates from multiple lenders before accepting an offer.

Credible makes it easy to compare rates from Ascent’s Cosigned loans and other student loan lenders with just one form. You can also check your prequalified rates without a hard credit pull, so it won’t affect your credit.

Compare student loan rates from top lenders

  • Multiple lenders compete to get you the best rate
  • Get actual rates, not estimated ones
  • Finance almost any degree

See Your Rates
Checking rates will not affect your credit

Note: While you can compare rates from Ascent Cosigned loans through Credible, Ascent Non-Cosigned loans are not currently available.

Ascent Student Loan perks

Ascent stands out among private student lenders for its willingness to provide loans to students without a cosigner, even if you have little or no credit history.

In addition, Ascent offers several perks with both the Ascent Cosigned and Non-Cosigned loans:

  • 1% Cash Back Graduation Reward: Earn your degree within 5 years of taking out an Ascent loan and authorize automatic payments, and you’re eligible for a one-time payment equal to 1% of your original loan balance. So on a $7,000 loan, you’d get $70 back at graduation.
  • 0.25% interest rate discount: When you authorize automatic payments.
  • No fees: No application, origination, or disbursement fees.
  • Cosigner release: If you take out a loan with a cosigner, you can apply to have them released from their obligations after you’ve made 24 consecutive on-time payments.
  • Deferment and forbearance: If you return to school, are accepted into a residency program, or are called up for military service, you may be eligible for a loan deferment. If you’re facing financial hardship, you may be eligible for temporary hardship forbearance. Interest will continue to accrue on your loan if you’re granted deferment or forbearance.

Compare rates from multiple lenders

Because every lender determines the rate they’ll offer on a case-by-case basis, it’s important to check rates with multiple lenders before taking out a private student loan.

Whether you’re the borrower or cosigner, Credible makes it easy to compare student loans from multiple lenders using a soft credit pull — which won’t affect your credit.

Find a Student Loan Now

The company above is one of Credible’s approved partner lenders. Because they compete for your business through Credible, you can request rates from them by filling out a single form. Then, you can compare your available options side-by-side. Requesting rates is free, doesn’t affect your credit score, and your personal information is not shared with our partner lenders unless you see an option you like. Credible receives compensation if you close a loan with one of our partner lenders. The rates you receive and the fees you pay (if any) are not impacted by this compensation.
About the author
Matt Carter
Matt Carter

Matt Carter is a Credible expert on student loans. Analysis pieces he’s contributed to have been featured by CNBC, CNN Money, USA Today, The New York Times, The Wall Street Journal and The Washington Post.

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