Ascent Funding Student Loans: 2025 Review

CNBC

2 days ago

Paying for college often means turning to private student loans — and many of those require a cosigner, especially if you don't have an established credit history or steady income. A cosigner can help you qualify and even secure a lower interest rate. But not everyone has someone they can ask.
Ascent Funding offers students the flexibility to apply with or without a cosigner, depending on their financial or academic profile. But it also offers flexible repayment plans, generous loan limits and cash back perks.
3.09% to 15.61% APR with autopay discount (undergraduate new loan). Other rates and loan types are available. Visit Ascent's website for full details.
Undergraduate and graduate loans, MBA, medical school, dental school, law school, doctorate and Master's, health professional loans.
$2,001 up to $200,000 for undergraduate loans and $400,000 for graduate loans
5, 7, 10, 12, 15, 20 years
Deferment and forbearance options available
For DACA recipients and non-U.S. citizens or permanent residents
No
Terms apply.
Ascent offers private student loans for students attending eligible undergraduate or graduate programs. If you're a graduate student, you can also apply for a cosigned credit-based loan if you have a creditworthy cosigner, such as a parent, guardian or sponsor, or a non-cosigned credit-based loan if you meet certain credit and income requirements on your own.
If you're enrolled in a specific type of graduate program, there are customized repayments terms available for:
Ascent also offers parent student loans for parents, grandparents, guardians or sponsors who want to help cover education costs, though eligibility requirements apply, as well as bootcamp loans, which are consumer loans designed for career-focused bootcamps or accelerated-learning programs.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.Undergraduate and graduate students, parents, health professionals$5,000 minimum (or up to state); maximum up to cost of attendance5, 7, 10, 15, years; up to 20 years for refinancing loans
Terms applyUndergraduate and graduate students, parents, international students with U.S. co-signer$1,000 up to the cost of attendance ($180,000 lifelong maximum)5, 8, 10, 15 years for undergraduate loans, up to 20 years for graduate loans
Terms apply
To qualify for an Ascent student loan, you must be enrolled at least half-time at an eligible institution. If you're applying for a non-cosigned outcomes-based loan, you must be a junior or senior enrolled full-time, or half-time within nine months of graduation at an eligible school.
If you're applying with a cosigner, your cosigner must have a minimum gross annual income of $24,000 for both the current and previous year. For the outcomes-based loan, you'll need to maintain a minimum GPA of 3.0 and meet your school's satisfactory academic progress standards.
Borrowers must be at least half-time in a degree program at an eligible U.S. college or university
Ascent doesn't publicly disclose specific credit score requirements but approval depends on several factors, including:
You can use Ascent's prequalification tool to get a better sense of which loan options you may be eligible for, without impacting your credit score.
The exact rates and terms of your Ascent loan may vary based on your credit and program.
Ascent offers fixed rates starting as low as 3.09% APR and variable rates starting at 4.31% APR.
Ascent offers loan terms of 5, 7, 10, 12, 15 or 20 years. There's no prepayment penalty so you can pay off your loan early without added fees.
If you select a 20-year term, you'll only be eligible for variable interest rates. And for loans with low balances, your minimum monthly payment account may shorten the total repayment period — meaning your loan may be paid off faster than the selected term.
Ascent does not charge any application, disbursement, prepayment or late fees.
The minimum loan amount available to borrowers is $2,001, while in Massachusetts it's $6,001. The maximum is $200,000 for undergraduate students, and $400,000 for graduate students.
Ascent offers a variety of repayment options based on your credit profile and whether you apply with or without a cosigner.
Interest-only: Pay only the interest while in school and during the grace period. Full payments begin after graduation.
$25 minimum: Make flat $25 monthly payments while in school. Full payments start after graduation.
Deferred: Make no payments while in school. Interest accrues and is added to the loan balance when repayment begins.
Other than not always needing a cosigner, Ascent offers a range of perks.
1% cash back reward: You can get 1% of your original loan amount back when you graduate, as long as you meet certain eligibility requirements.
Up to 1% interest rate discount: You can sign up for automatic payments to receive an interest rate reduction (0.25% for autopay, with additional promotional offers sometimes available).
High loan limits: You can borrow up to $200,000 for undergraduate loans, and up to $400,000 for graduate loans.
Ascent offers several advantages but there are some limitations to consider.
Ascent offers support via phone, email and live chat during business hours. It's generally well-rated for ease of application but customer service experiences can vary.
Applying for a student loan with Ascent is generally straightforward:
While Ascent offers flexible borrowing options, its interest rates can fall on the higher side, especially if you don't qualify for discounts. If low rates are your priority, Earnest offers some of the lowest starting APRs among private lenders. It also lets you pick your exact repayment timeline and doesn't charge late fees.
Undergraduate and graduate students, parents, half-time students, international and DACA students
Undergraduate, graduate loans, parent loans, MBA, medical school, law school, international and DACA student loans
$1,000 up to the cost of attendance for new loans, $5,000 to $550,000 for refinance loans
5, 7, 10, 12, 15 years
Nine-month grace period available
No
Yes - click here for details
Terms apply.If you're looking to refinance your student loans after graduation, SoFi is a top alternative. SoFi allows you to consolidate federal and private loans with no fees and potentially lower your interest rate, especially if your credit has improved or your income has increased.
3.23% to 15.99% APR with 0.25% autopay discount (Undergraduate New Loan). Other rates and loan types are available. Visit SoFi's website for full details.
Undergraduate, graduate, parent loans, law school, MBA and health professions loans
$5,000 (or state-mandated minimum) up to the cost of attendance
5, 7, 10, 15 years; refinancing loans up to 20 years
No
Yes - click here for details
Yes - click here for details
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