Ascent student loans are available to undergraduate and graduate students. With both cosigned and non-cosigned options, Ascent is one of the few private lenders that offers an outcomes-based loan — which requires no minimum credit score or income to qualify.
This review will help you understand the pros and cons of Ascent student loans so you can decide if it’s the right lender for you.
| Pros | Cons |
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- Cosigned Credit-Based Loan
- Non-Cosigned Credit-Based Loan
- Non-Cosigned Outcomes-Based Loan
- Graduate student loan options
- How to apply for an Ascent loan
- How to contact this lender
- How Ascent compares to competitors
- Frequently asked questions
Ascent’s Cosigned Credit-Based Loan
Ascent offers multiple student loans, including options for people with and without cosigners. Here’s what you can expect if you apply for a loan with a cosigner.
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| Fixed APR | 4.48% - 15.66%10 |
| Variable APR | 6.03% - 15.94%10 |
| Loan Amounts | $2,001* to $400,000 |
| Term lengths | 5, 7, 10, 12, or 15 years |
| Fees | No origination or application fees, but late fees and returned payment fees may apply |
| Best for | Students with a creditworthy cosigner |
Eligibility
Cosigned credit-based loans are available to students with a creditworthy cosigner. To qualify, students must meet the following requirements:
- Be enrolled at least half time at an eligible school
- Be a U.S. citizen or international student with DACA status
- Have an eligible cosigner who is a U.S. citizen or permanent resident
- Have a cosigner who meets credit and income requirements
Repayment
Borrowers can repay their loan over five, seven, 10, 12, or 15 years. While you’re attending school, you can choose to make interest-only payments, $25 minimum monthly payments, or defer payments entirely until after graduation.
After you leave school, you’ll receive a nine-month grace period — that’s longer than most lenders’ six-month option. You may even qualify for a progressive repayment plan, which is rare in private student lending. With this option, your monthly payments start lower and slowly increase over time, so you can repay your debt within the original loan term.
Notable features
- Rewards: Ascent offers a 1% cashback reward upon graduation. You may be eligible as long as your loan was not refinanced, you graduated from the degree program your loan funded, and you enroll in automatic payments. If you borrowed $15,000, you could get $150 just for graduating.
- Discounts: Get a discount of 0.25 percentage points when you enroll in autopay. While that may not sound like much, it can add up over time.
- Cosigner release: You can remove your cosigner from the loan after making as few as 12 on-time payments, though you must be able to meet Ascent’s credit and income requirements to be eligible.
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Ascent’s Non-Cosigned Credit-Based Loan
Non-cosigned, credit-based loans are also available for undergraduates who can qualify based on their own credit history. Here are the terms you can expect with these types of loans.
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| Fixed APR | 9.63% - 15.66%10 |
| Variable APR | 9.92% - 15.94%10 |
| Loan Amounts | $2,001* to $400,000 |
| Term lengths | 5, 7, 10, 12, or 15 years |
| Fees | No origination or application fees, but late fees and returned payment fees may apply |
| Best for | Students who have at least a two-year credit history and can meet credit and income requirements |
Eligibility
Ascent reviews each applicant’s credit score, income, and other factors. Credit-based student loans are available to students who meet certain eligibility requirements, including:
- Be enrolled at least half time at an eligible school
- Be a U.S. citizen, permanent resident, or DACA recipient
- Have at least two years of credit history
- Meet both income and credit requirements
Repayment
Borrowers have a choice of repaying their loan over five, seven, 10, 12, or 15 years. You can choose to defer payments until after graduation, or make interest-only payments or $25 minimum payments while in school.
You’ll receive a nine-month grace period after graduation, and may even qualify for a progressive repayment plan. This means payments begin lower and gradually increase over time to ensure you pay off your loan within the original loan term.
Notable features
- Rewards: Ascent offers a 1% cashback reward upon graduation, as long as your loan was not refinanced, you graduated from the degree program your loan funded, and you enroll in automatic payments.
- Discounts: Get an autopay discount of 0.25 percentage points for credit-based loans.
Ascent’s Non-Cosigned Outcomes-Based Loan
Ascent stands apart from other lenders with its outcomes-based loans to students who don’t have a credit history or a cosigner. Rather than judging applicants based on their credit or income, Ascent considers your school, major, grade point average (GPA), and other alternative factors.
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| Fixed APR | 12.71% - 14.7%10 |
| Variable APR | 12.96% - 14.91%10 |
| Loan Amounts | $2,001* to $400,000 |
| Term lengths | 10 or 15 year term |
| Fees | No origination or application fees, but late fees and returned payment fees may apply |
| Best for | Juniors or seniors who meet minimum GPA requirements |
Eligibility
Outcomes-based loans differ from credit-based debt because a high credit score or cosigner is not required. You may be eligible for these loans if you meet the following requirements:
- You’re a college junior or a senior at an eligible school
- You’re enrolled full time, or enrolled half time and graduating within the next nine months
- You have a GPA of 2.9 or higher
- You meet your school’s requirements for satisfactory academic performance (SAP)
- You’re a U.S. citizen, permanent resident, or DACA recipient
Repayment
You have a choice of a 10- or 15-year repayment term with Ascent’s outcomes-based student loans. You can also defer payments on your loans until nine months after graduation.
Once you begin repayment, you may qualify for a progressive repayment plan, which gradually increases loan payments over time while still ensuring your loan is fully repaid within the original term.
Notable features
- Rewards: Ascent offers a 1% cashback reward upon graduation, as long as your loan wasn’t refinanced, you graduated from the degree program your loan funded, and you enroll in autopay.
- Discounts: While Ascent’s outcomes-based loans carry higher interest rates than its other offerings, you can get a rate discount of one percentage point for setting up automatic debits.
Ascent’s graduate student loans
Ascent offers specialized loans for graduate students of nearly every type. You can get an Ascent loan for:
- MBA programs
- Dental school
- Medical school and other health profession programs
- Law degrees
- Other graduate and professional degrees
Precise eligibility requirements, interest rates, and repayment terms vary by loan, but you can expect repayment terms up to 20 years, maximum loan limits of $400,000, and extended grace periods.
How to apply for an Ascent student loan
You can apply online for Ascent loans with a four-step process.
- Submit an application and receive preliminary approval.
- If you prequalify, you can accept your offer and select a repayment plan.
- Complete the required tasks and upload documentation (this can vary based on the type of loan you’re applying for).
- Once your paperwork is finalized, your loan will be sent to your school for certification.
During the process, you may need to complete a financial wellness quiz and provide personal information, including:
- Your address, date of birth, and Social Security number
- The school you’re enrolled in
- Income documentation, such as pay stubs or tax forms
- Your cosigner’s information, if applicable
How to contact Ascent
If you’re interested in getting information about Ascent’s college loan program, you can contact the lender using the following methods:
- By phone: Call (877) 216-0876, Monday through Thursday from 7:00 a.m. to 5:00 p.m (PST), and Friday from 7:00 a.m. to 4:00 p.m.
- By email: [email protected]
Existing Ascent borrowers can call (877) 209-5297 Monday through Friday from 7:00 a.m. to 7 p.m. (CST), or get help via email at [email protected]. Note that any loan made after June 10th, 2019 is serviced by Launch Servicing, which manages payments and can provide general guidance about your account.
How Ascent compares to competitors
Ascent may have higher interest rates and larger minimum borrowing requirements than some competitors do. However, it also offers more options for borrowers who don’t have a cosigner and gives a larger range of discounts and rewards.
Check out the table below to see how Ascent student loans compare to top competitor offerings.
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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| Private loan APR* | 4.48%+10 | 4.43%+1 | 4.50%9 - 15.49%9 |
| Refinance APR** | N/A | 5.40% to 10.65% | N/A |
| Loan amounts | $2,001* to $400,000 for undergraduate loans Outcomes-based loans have annual maximum of $20,000 | $1,000 to $150,000 for undergraduate loans | $1,000 up to school-certified cost of attendance |
| Term lengths | 5, 7, 10, 12, 15, or 20 years | 5, 10, or 15 years | 10 to 15 years |
| Fees | No origination or application fees | No origination or application fees | No origination or application fees |
| Discounts |
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| 0.25 percentage point reduction for autopay |
| Cosigner allowed? | Yes | Yes | Yes |
| Cosigner release | Eligible after 12 consecutive, on-time payments | Eligible after 36 consecutive, on-time payments | Eligible after 12 consecutive, on-time payments |
Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 11Custom Choice Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures| 10Ascent Disclosures |
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Ascent FAQs
What credit score do you need for Ascent?
Ascent doesn’t disclose a minimum credit score, but most lenders generally look for a FICO score in the mid- to high-600s. Ascent also offers outcomes-based loans for students with no credit.
How long do Ascent student loans take to process?
Ascent sends your application directly to your school as soon as you have completed the required tasks. Your school will certify your enrollment and costs before setting your loan’s disbursement date. Ascent will send the loan money to your school, which will apply the funds to your tuition and fees.
Learn More: How Long Does It Take to Get a Student Loan?
What GPA do you need for an Ascent loan?
There are no GPA requirements for most Ascent loans, but its outcomes-based loans to juniors and seniors require a GPA of at least 2.9.
Does Ascent ask for proof of income?
Ascent requires proof of income from you and/or from your cosigner if you apply for credit-based loans. Accepted documentation typically includes recent pay stubs or tax forms.
Methodology
Credible evaluated private student loan lenders in 10 different categories to determine the best lenders for undergraduate student loans. This included interest rates, repayment options, terms, fees, discounts, customer service availability, as well as eligibility requirements and cosigner release options.
The companies in the table below are Credible’s approved partner lenders. Whether you’re the borrower or cosigner, Credible makes it easy to compare rates from multiple private student loan providers without affecting your credit score.0
| Lender | Fixed Rates From (APR) | Variable Rates From (APR) | Get Rates Through Credible |
|---|---|---|---|
| 4.48%+10 | 6.03%+10 | Get Rates Ascent review |
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 | 4.43%+1 | 5.8%+ | Get Rates Citizens Bank review |
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4.41%+2,3
| 5.49%+2,3 | Get Rates College Ave review |
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6.25%+
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8.11%+
| Get Rates EDvestinU review |
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 | 4.6%+8 | 7.37%+8 | Get Rates INvested review |
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 | 5.35%+ | n/a | Get Rates INvested review |
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4.50%9
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15.49%9
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6.37%9
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16.70%9
| Get Rates Sallie Mae review |
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your credit score. 100% free! |
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 11Custom Choice Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures| 10Ascent Disclosures |
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0Requesting prequalified rates on Credible is free and doesn’t affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.