Ascent Student Loans Review 2022 – Top 10 Student Loans Services
Student loans are what some learners depend on fully to get through school. Many lenders are willing to examine your needs and offer loans within your budget. Every private lender is different, and they all have unique benefits and terms. You have to consider every angle before you decide on a lender. Ascent Student Loans is one of these lenders. The online platform offers graduate and undergraduate loans for over 2,000 eligible nationwide schools. They have a variety of loan combinations. Ultimately, you are looking for a company that can save money and offers a customized student loan experience. This review will show whether Ascent independent student loans are worth it.
You can tell from the products on offer and Ascent student loan reviews that the company is worth a try. All students, including DACA and international students, can get tuition and other school-related funding. The reputable company has worked with plenty of students. The qualification process is fast; you won't wait long to know if you are eligible for the loan.
- They have an easy and fast application process
- Flexible repayment terms
- Their fixed and variable rates are affordable compared to other lenders
- They offer loans to students without a co-signer
- They have a couple of discounts and rewards you can benefit from
- You can build credit in your own name
- No application fees
- No penalties for paying the loan early
- Free resources online
- They offer up to 24 months of financial hardships
- There is a 1% cash back reward for graduation
- International students can access loans
- Not all schools are eligible for the loans
- There is no student loan refinancing
- Co-signer release is not available for non-citizen students.
Ascent funding was started in 2015 and is based in San Diego, CA. The company is among the few lenders that allow loans without a co-signer, even when you have a limited credit history. Its mission is to provide education to many underserved students and others in need. They have lending partners that ensure students get the loans they request. They serve all kinds of students, including law, MBA, dental, medical, and general Ph.D. students. Their loans are based on the cost of attendance, major, school, creditworthiness, and other factors. Goal Solutions Inc. is the parent company and has been in the industry for over a decade. Students can get loans with or without a co-signer. They are also a great loaning platform for international students because they don’t require applicants to be US citizens. Ascent student loans reviews are mostly positive. Bit their loans sometimes are more expensive than other lenders. That’s why it’s important to do your homework and compare lenders before applying for a loan.
Ascent private student loan company, makes loans accessible to applicants who may not be eligible for other types of financial aid. The company handles loan applications, but they aren’t a direct lender. The Bank of Lake Mills issues their loans, and the servicing is done by Launch Servicing. They give loans to borrowers in all fifty states. They have three repayment types and around six loan terms available. The deferment periods are 9 to 36 months, depending on your acquired loan. You can get a1% cash back of the original amount if you graduate within five years of your loan’s disbursement.
Ascent offers many benefits, including significant automatic payment discounts and graduation rewards. Their interest rates can be up to 11% lower when you get a co-signer, so you should consider the option first. You can get the loan without a co-signer, but when you have one, the benefits are many. They have loans that are based on your future income. But, future income-based loans are only available to seniors and juniors with a 2.9 GPA. The best way to determine which loan you qualify for is to talk to an Ascent representative.
Ascent private student loan platform has various products. All the loan products are different; you must present your needs before they know which loan you are eligible for. Their services are centered on the loan application. Here are the products on offer at Ascent independent student loans.
- College Loans
Ascent independent loan for students has helped a lot of students. There are no application fees, and you will know your loan option in minutes. They will cover 100% of your cost of attendance plus other school-related expenses. Graduates can get up to $ 400,000 and $ 200,000 for undergraduates. You can easily see your pre-qualified rates online and see if you are eligible for a higher loan. They allow you to customize your loans on your terms. Flexibility is what most students appreciate. The repayments terms and interest rates are favorable for a long-term loan. You can pay the loan for up to twenty years if you want. They fund the loan to your school, so you don’t have to miss a day of learning. Once the loans are approved, the disbursement will happen immediately. You can check your loan rate without impacting your credit card.
- Co-signed Loans
Co-signed student loans require you to have someone else sign for the loan with you. Sometimes students don’t qualify for a loan with their own name alone. You can build your credit with time and release your co-signer from the responsibility. After making 12 payments on time, they can reconsider your creditworthiness. Meeting additional eligibility criteria might be good for you. Choose the most affordable variable or fixed rate when customizing your payments. This allows you to pay the loan with your co-signer early and avoid penalties. Usually, when using a co-signer for a loan, you have to be extra careful because it’s not just your credit on the line. You might get 1% cash back if you set up automatic payments. You will have to upload your documents to qualify for the loan. The co-signer can be your mentor, parent, spouse, friend, or guardian. Ensure you explain to the co-signer that they agree to become legally responsible for paying the loan if you cannot.
- Non-Cosigned Loans
Students can also qualify for a non-cosigned loan if they don’t have someone to sign the loan with. Many student loan companies don’t offer co-signed loans because they are considered risky. But Ascent loans are changing the game for many students. They can get funding and go through school without trouble. It’s a chance to build your credit, especially when you make monthly payments on time. They will ask you for loan information, possible income, and other details that determine if you can get the loan. Getting the right loan without a co-signer won’t be that complicated. The good thing is the Ascent team will help you through the process, from filling out application forms to making payments. If you want a loan without a co-signer, you must be a college senior or junior enrolled full-time. You should also be a citizen and have a US permanent resident. You need to maintain great academic performance with a 2.9 GPA or more. The outcome-based loans are based on many factors. You must have at least two years of credit history with a minimum credit score.
- International Student Loans
International student loans allow students that aren’t US citizens or permanent residents in the country to access loans for school expenses. These students can consider federal student loans or private loans. If they opt for private lenders, Ascent loans can be an option for them. However, all international student loans need a US citizen co-signer. They will consider your co-signer credit history. They should also meet the minimum gross annual income of $ 24,000. The company will ask your co-signer to provide satisfactory proof of income. The minimum credit score is subject to change; it usually depends on the borrower’s credit score. Ascent decision-making criteria changes depending on the client. You can complete the application process in four steps and wait to see if you can get the international student loan. They have several international students who have benefited from their academic loans. The repayments will be customized depending on what the student can manage.
- Medical School Student Loans
Ascent is also at the forefront of helping medical students acquire degrees. Every type of loan is slightly different. Ensure you check the medical school rates and repayment options before signing the agreement. You can pay the loan on your terms from seven to twenty years. There is no penalty for early repayments. The maximum in-school period is 48 months; if you extend longer, you should inform the lender. The medical school grace period allows you to postpone payments up to 36 months after graduation. The rates for medical and dental school vary. Pay attention to the repayment periods, interest rates, and amount of money offered when requesting the loan. You will avoid future inconveniences later on when you do everything right from the start. Apply the same criteria when you request a law student loan.
- DACA Student Loans
As the college fee keep rising, DACA students find more difficulty in managing school expenses. The biggest challenge is most undocumented students, including DACA students, aren’t qualified for federal student aid. The DACA-specific scholarships are very hard to come by. But Ascent private student loan allows such students to get higher education. The company also has scholarships that DACA students can qualify for. The undergraduate and graduate students can apply for the loan online and talk to an Ascent representative. Before the DACA students get the loan, they will need to give documentation from the Department of Homeland Security or the Citizenship and Immigration Services that shows their DACA status. Applying for a student loan won’t put undocumented family members at risk. Private student loans are the most common for DACA students. If you still have questions about their loan, you can call them via phone or email for further clarification.
- Career Loans
You can transform your future with professional training and career loan. These loans are for students attending professional training and other certified programs at specific schools. The application process is similar to the other loans from Ascent. Preview your loan options before you apply. It gives you a rough idea of what you are qualified for. You can choose not to pay anything while studying and three months later. Career loans aren’t meant for school activities alone. You might need money for the cost of living while you are studying. The company is very flexible; they will tailor your loans according to your needs. The tuition will be directly deposited to your school if the money is approved. You should try to take advantage of Ascent discounts and cash rewards. Their upfront and transparent loan terms make signing up for their loans easy. You can even see the living expenses and tuition program before you apply.
- School Support
Ascent provides school support with resources for staff and students. They help you maximize your school’s success. You can add their loan products to your school’s lender list. That’s how they have managed to partner with over 2,000 eligible schools. Financial wellness is part of the application process to help students make better financial decisions. They have blogs and other resources that schools and applicants can benefit from.
Plans and Pricing
Applicants can choose repayment terms of 5, 7, 10, 12, 15, or 20. They don’t have application fees, and the qualification process is pretty simple. The loan amount is determined by your major, school, creditworthiness, GPA, and other factors. The school’s certified cost of attendance majorly influences the final amount. Since their loans vary a lot, you have to apply to know how much you are eligible for. Undergraduate loans range from $2,001 to $ 200,000.
Co-signed credit-based loans have variable rates of 0.98% to 10.04% and fixed rates of 3.22% to 13.61%. Non-cosigned credit-based loans have variable rates of 5.78% to 11.79% and fixed rates of 8.64% to 14.75%. Non-cosigned outcomes-based loans have variable rates of 9.50% to 11.90% and fixed rates of 12.30% to 13.24%.
A co-signer can be beneficial; if you can find someone to sign the loan with, go for it. Automatic payments can earn you discounts of up to 1%. The company requires you to complete a short financial literacy course online as part of the application process. They want everyone to be informed about their financial choices.
Frequently Asked Questions
What Kind Of Discounts Does Ascent Have?
Autopay discount is what most borrowers enjoy. There is a discount of 0.25% if you make automatic payments; the discount shoots to 1% when you make the automatic payments from a checking account. The cash-back rewards are worth looking into because they can save you a few coins in the long run. There is also a 1% cash back reward for your graduation. If you refer other students who qualify for Ascent loans, you can earn up to $ 525.
How Do I Qualify For Ascent Student Loan?
Students have to be enrolled full or half-time at an eligible institution. If you are applying for a future income-based loan, you must be a full-time student. Sometimes academic performance matter when you want Ascent loans. If you have a co-signer, they will look at their credit history and income. All these factors will determine whether you are eligible for any of the college loans. The company will subject you to an application process where you will need to give up some information to determine if you can get a loan. They don’t disclose the minimum credit score, but you can qualify even if you don’t have an established credit history.
Can You Apply For A Co-Signer Release?
Ascent allows you to apply for a co-signer release. This is possible after you make 12 qualifying monthly payments. This allows you to repay the loan without implicating someone else. If possible, you can pay the loan early; you don’t have to follow the repayment terms strictly. But non-US citizens are not eligible for the co-signer release.
How Does Ascent Compare?
Ascent is a legitimate student loan provider that competes favorably with similar companies in the industry. They have simplified their terms to make people easily understand their repayment agreements. Not all companies give loans to students without a co-signer, yet Ascent does. They have some benefits that make them stand out, including flexibility and loan customization.
Does Ascent Refinance?
Ascent doesn’t refinance any kind of loan. But you can make one payment to multiple loans. The server will distribute the payments between your consumer and student loans. This makes the repayment process easy. Talk to a representative and explain your situation; they will give you better guidance, especially when you have another loan.
Is The Company Right For You?
Ascent is an online student loaning platform. They offer students three loaning options: co-signed loans, non-cosigned credit-based loans, and non-cosigned future income-based loans. If you are looking for tuition funding, you can pay for up to 20 years; the company is a great option. You can get the loan without having a third party sign your agreement. Some of their loans might be more expensive than other lenders. But when you consider the rates and repayment terms, you can find a student loan that is suitable for you. They issue loans to borrowers in all fifty states. However, they only partner with 2,200 schools. Your school has to be eligible for you to access the funding. The company handles loan applications, but a different bank does the financing.