Ascent Student Loan Rates & Repayment Examples

The following examples illustrate three hypothetical first year single disbursement undergraduate student loans in the amount of $10,000 including (i) the Annual Percentage Rate (APR), (ii) estimated monthly payments, and (iii) total cost during the life of the private loan. Variable rate loans are based on a margin between 1.90% and 13.50% plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent. The current LIBOR is 1.629% which may adjust monthly. Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 3.14% and 11.88%. Fixed rate loans have an APR range between 4.09% and 13.03%.


Rates are effective as of 03/01/2020 and reflect an Automatic Payment Discount of 0.25% on the lowest offered rate and a 2.00% discount on the highest offered rate. 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if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. See Automatic Payment Discount Terms & Conditions

Your actual student loan interest rate may be different than what is shown in the examples below and will be based on your credit history, selected repayment option, and other factors. The following table shows a 48 month in-school period plus 6 months of grace prior to a full repayment term of either: 60-months (lowest fixed/variable rate), 120-months (highest fixed rate) or 180-months (highest variable rate) with examples of (i) Interest Only payments, (ii) $25 Minimum payments, and (iii) Deferred repayment options.

Ascent Variable Rates

 MINIMUM (LOWEST RATE) PAYMENT EXAMPLE AT 5-YEAR REPAYMENT TERM

Repayment Option APR No. of Payments In-School/Grace …Thereafter Total Cost
Interest Only Repayment 3.28% 54 @ $27.33 60 @ $180.95 $12,333.35
$25 Minimum Payment 3.27% 54 @ $25.00 60 @ $183.23 $12,343.80
Deferred Repayment 3.14% n/a 60 @ $207.65 $12,459.00

MAXIMUM (HIGHEST RATE) PAYMENT EXAMPLE AT 15-YEAR REPAYMENT TERM

Repayment Option APR No. of Payments In-School/Grace …Thereafter Total Cost
Interest Only Repayment 11.88% 54 @ $99.00 180 @ $119.28 $26,818.30
$25 Minimum Payment 11.03% 54 @ $25.00 180 @ $166.93 $31,397.40
Deferred Repayment 11.86% n/a 180 @ $202.68 $36,482.40

Ascent Fixed Rates

 MINIMUM (LOWEST RATE) PAYMENT EXAMPLE AT 5-YEAR REPAYMENT TERM

Repayment Option APR No. of Payments In-School/Grace …Thereafter Total Cost
Interest Only Repayment 4.33% 54 @ $36.08 60 @ $185.68 $13,089.82
$25 Minimum Payment 4.25% 54 @ $25.00 60 @ $196.79 $13,157.40
Deferred Repayment 4.09% n/a 60 @ $221.85 $13,311.00

MAXIMUM (HIGHEST RATE) PAYMENT EXAMPLE AT 10-YEAR REPAYMENT TERM

Repayment Option APR No. of Payments In-School/Grace …Thereafter Total Cost
Interest Only Repayment 13.03% 54 @ $108.58 120 @ $149.54 $23,810.21
$25 Minimum Payment 11.84% 54 @ $25.00 120 @ $217.01 $27,391.20
Deferred Repayment 12.38% n/a 120 @ $253.64 $30,436.80

 

For Deferred Repayment options, eligibility for an automatic payment discount requires a minimum payment of $1. For more information, please See Automatic Payment Discount Terms & Conditions