There are many different private lenders that offer student loans. But Ascent student loans are some of the few available today that offer genuinely unique terms and benefits.
As with other lenders, students can apply for a traditional student loan with Ascent that requires a cosigner. But Ascent also offers non-cosigned loans that can base eligibility on a student's credit or future income potential.
Given that 90% of private student loans require a cosigner, seeing a company offer an option to not have a cosigner is great. Let's dive into Ascent Student Loans and see how they compare. Remember to check out our full comparison of the best private student loan lenders here.
- Credit-based and outcomes-based private student loans
- Strong payment flexibility both during and after school
- 1% cashback graduation reward and up to 1% autopay discount
Ascent Student Loans Details
Ascent Student Loans
Min Loan Amount
Max Loan Amount
As low as 3.04% APR
Variable and Fixed
5, 7, 10, 12, 15, and 20 Years
Who Is Ascent Student Loans?
Ascent’s mission statement is, “Student loans should expand your possibilities, not limit them.” Their loans are based on creditworthiness, school, major, cost of attendance, and other factors. The parent company, Goal Solutions, Inc. has been in the student loan business for over a decade
Ascent Funding, LLC. was launched in 2016 and is located in San Diego, CA. Student loans are funded through Bank of Lake Mills, Member FDIC. Loans are serviced by Launch Servicing. In addition to cosigned loans, and credit-based non-cosigned loans, Ascent offers a third option: non-cosigned future outcomes-based loans.
Ken Ruggiero, CEO of Goal Solutions, spoke with Forbes and described the process: “Ascent Cosigned Loan requires a creditworthy cosigner, while the Ascent Non-Cosigned Loan product is a non-cosigned loan open to juniors and seniors only. Both loans require participation in a financial education module during the application process as we strongly believe in supporting financial wellness alongside our applicants’ collegiate dreams.”
Ruggiero continued, “For students applying for the Ascent Non-Cosigned Loan, data from a student’s school, program, degree, and income potential are used to determine a loan amount. Using public and proprietary data to produce estimates per school and degree, the Ascent Non-Cosigned loan allows students to eliminate the borrowing burden from their parents or ‘cosigner exhaustion'."
Also, Ascent was named one of our top private student loan lenders.
What Does It Offer?
Ascent is a private student loan lender. They have three types of loans. One is oriented toward a cosigner and the others are not. Ascent has also recently begun offering bootcamp consumer loans. Let's take a closer look at each option.
Ascent Cosigned Credit-Based Loan
This loan is best for students who have a creditworthy cosigner. These students may not yet have a credit history or do not meet the creditworthiness requirements. The cosigner must remain for at least 12 months. Students also must be enrolled in an eligible institution at least half-time.
For this loan, the cosigner must have a FICO score of 620 or over. Ascent is one of the few lenders that does NOT consider Debt-to-Income (DTI) for cosigners.” Learn more here >>
Ascent Non-Cosigned Credit-Based Loan
This option is best for students who have a strong credit history - likely professional students who are returning to school. For this loan, you must have at least two years of credit history, and a FICO score of 680 or higher and meet minimum income requirements. Learn more here >>
Ascent Non-Cosigned Outcomes-Based Loan
If you don’t pre-qualify for Ascent's credit-based non-cosigned loan, eligible juniors and seniors may apply for Ascent outcomes-based loan that doesn’t require a cosigner. Student borrowers with no credit score, as well as student borrowers that pass the minimum credit requirements, but don’t meet the income or repayment capacity requirements, may qualify on the basis of several alternative factors which may include::
- GPA of 2.9 or greater
- Earning potential
- Academic progress
- Graduation date
- Cost of attendance
- Other factors and other qualifications
Ascent takes the above data and runs it through their algorithms, which then customizes the loan terms for each student. This loan is also open to DACA students. Learn more here >>
Ascent Graduate Loans
These loans are for graduate students who are pursuing a graduate degree in:
- Business: MBA
- Medicine: MD, DO, DVM, VMD, DPM
- Dental: DDS, DMD
- Law: JD, LLM
- Other Graduate Degrees: MA, MS, PhD, Allied Health, Nursing, Pharmacy
These loans offer flexible repayment terms depending on degree type, as well as flexible repayment options. Learn more here >>
Bootcamps, which are often focused on coding or other tech-based skills, have become popular with bachelor's degree holders as an alternative to pursuing a graduate degree. Some bootcamps have begun to offer courses for undergraduates as well.
Ascent is one of the only companies available today that offers consumer loans that can be used to cover tuition costs and living expenses for students who are enrolled in these schools. You can visit the Ascent website to see the list of bootcamps that it currently works with.
It's important to understand that Ascent's bootcamp loans are consumer loans not student loans. This means that you won't be able to deduct any of the interest you pay. Also, personal loans may be treated differently than student loans during bankruptcy proceedings.
What Are The Rates And Terms?
Interest rates for the Ascent loans are determined based on if the loan is cosigned or non-cosigned, the loan terms, whether the interest rate is fixed or variable, and the type of payment arrangement.
Variable rate, interest-only payment, loans range from 3.04% - 13.30% APR.
For the fixed rate, the rates range from 4.12% - 14.75% APR.
The variable interest rate can change, of course. Variable rate loans are based on a margin plus the 30-day average of the Secured Overnight Financing Rate (SOFR) rounded to the nearest 1/100th of a percent.
Loan amounts range from $2,001 to $400,000 with Ascent Cosigned Credit-Based Loan terms of 5, 10, and 15 years. Ascent Non-Cosigned Loans has terms of 5, 7, 10, 12, or 15 years. Graduate medical or dental loans can be extended out to 20 years.
Graduate student loan rates are as follows:
- MBA/Law/General Variable Rates (Cosigned and Non-Cosigned): 4.04% - 13.30%
- MBA/Law/General Fixed Rates (Cosigned and Non-Cosigned): 5.12% - 14.75%
- Medical Variable Rates (Cosigned and Non-Cosigned): 4.04% - 13.29%
- Medical Fixed Rates (Cosigned and Non-Cosigned): 5.04% - 14.75%
- Dental Variable Rates (Cosigned and Non-Cosigned): 4.04% - 13.30%
- Dental Fixed Rates (Cosigned and Non-Cosigned): 5.12% - 14.75%
What Extra Perks Does Ascent Offer?
Ascent is invested in your journey to academic achievements and financial wellness by offering benefits that go beyond a student loan. Ascent offers additional resources to help you thrive throughout college and beyond:
How Does Ascent Compare?
Ascent is one of many different private student loan lenders. However, they consistently make it on our list of the best private loans.
Check out this quick comparison here:
Variable and Fixed
Variable and Fixed
Variable and Fixed
What Borrower Protections Are Available?
Private student loans don't come with nearly as many protections as federal student loans. For example, income-driven repayment isn't an option. However, Ascent student loans are some of the most borrower-friendly private loans available to students today.
First, students who are enrolled at least part-time can postpone payments for up to 60 months. Interest will continue to accrue during in-school academic deferment.
After school ends, there is a 9-month grace period before repayment begins. This is three months longer than the 6-month industry-standard.
For students who need a deferment after beginning repayment, approval is solely up to the lender. These types of deferments may be granted for according to the Ascent website:
- “Active Duty Military Deferment”
- “In-School Deferment”
- “Residency / Internship Deferment”
- “Temporary Hardship Forbearance”
- “Administrative Forbearance”
Finally, Ascent borrowers can receive up to 24 months of hardship forbearance over the life of their loans. That's 12 months more than many other private lenders offer.
Are There Any Fees?
Ascent student loans don't come with any application or origination fees. There aren't any prepayment penalties either. There is a late payment fee that is 5% of the past due amount up to a maximum of $25. The late fee won't apply, though, until a payment is at least 15 days late.
Is It Safe And Secure?
How Do I Contact Ascent?
While Ascent student loans are serviced by Launch Servicing, LLC, the company does provide in-house customer service. You can reach out with questions or concerns at 877-216-0876 or email@example.com. Customer service hours are Monday-Friday 7:00 AM – 5:00 PM (PST).
Is It Worth It?
Graduating with a load of debt isn’t the best way to start your career. And you should make sure that you've exhausted your federal student loan options before turning to private loans. But as the cost of tuition continues to climb, students are turning to alternative, affordable methods for financing their education.
And Ascent student loans could be a great option for students who meet that description. With a variety of loans options, reasonable APRs, and a 0.25% to 1.00% automatic payment discount, they provide a compelling source of funding for college education.
When shopping for private student loans, it's essential that you compare your options. You can apply for a loan at Ascent Student Loans here >>
Here are some of the common questions that we receive about Ascent student loans.
Is Ascent student loans legit?
Yes, Ascent has been around since 2015 and is one of the most recognized names in the private student loan industry.
Who provides the funding for Ascent student loans?
Ascent's college loans are funded by Bank of Lake Mills, Member FDIC and its bootcamp loans are funded by Richland State Bank, Member FDIC.
Who services Ascent student loans?
Ascent uses Launch Servicing, LLC to send bills and process payments for all of its student loan products.
Is Ascent a good student loan?
With its non-cosigned future income-based loan options, above-average borrower protections, and generous customer perks, Ascent student loans have a lot to offer. But you'll still want to compare the interest rate that Ascent offers you with other private lenders.
Does Ascent do a hard credit pull?
Ascent uses a soft credit pull that doesn't impact your credit score when you check your pre-qualified rates. But if you decide to move forward with a full application on one of Ascent's credit-based loans, a hard credit inquiry will be added to your credit report.
Ascent Student Loans Features
Min Loan Amount
Max Loan Amount
As low as 3.04%
Credit-based loans: 0.25%
Outcomes-based loans: 1.00%
Fixed or variable
5,7,10,12, 15, and 20 years
Late Payment Fee
5% of the past due amount or $25 (whichever is less)
Applied once the payment is at least 15 days past its due date.
Can be requested after 12 months of consecutive, on-time monthly payments and other criteria
Minimum credit score
Customer Service Phone Number
Customer Service Hours
Monday-Friday 7:00 AM – 5:00 PM (PST)
Customer Service Email Address
Address For Sending Payments
Launch Servicing, LLC
Ascent Student Loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 10/01/2022 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs require interest-only payments, the shortest loan term, and a cosigner, and are only available to our most creditworthy applicants and cosigners with the highest average credit scores.
Ascent Student Loans Review
Rates and Fees
Products and Services
Ascent provides various private student loan options for both undergraduate and graduate students. They also provide loans with and without a cosigner.
- Offers two non-cosigned loan products
- Multiple in-school repayment options
- Provides up to 24 months of forbearance
- Non-cosigned options are limited and have higher rates
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.
Editor: Clint Proctor