Ascent is proud to partner with College Cents.

Please note our Terms & Conditions below.

*Certain restrictions, limitations; and terms and conditions may apply below.  1% Cash Back Graduation Reward subject to terms and conditions. Click here for details.


Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans are funded by Richland State Bank (RSB). Certain restrictions and limitations may apply. Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. Loan products may not be available in certain jurisdictions and certain restrictions, limitations; and terms and conditions may apply. Ascent is a federally registered trademark of Ascent Funding, LLC, the loan processor, and may be used by RSB under limited license.

  1. Variable rate loans are based on a margin between 1.90% and 12.50% plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent. The current LIBOR is 1.716%, which may adjust monthly.  Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an Annual Percentage (APR) range between 3.22% and 12.54%. Fixed rate loans have an APR range between 4.21% and 13.12% based on your credit worthiness and your selected program. Competitive variable rates calculated monthly at the time of loan approval. (Rates are effective as of 12/01/2019 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account.)

  2. Payments may be deferred. Subject to lender discretion, forbearance and/or deferment options may be available for borrowers who are encountering financial distress.

  3. Making interest only or partial interest payments while in school will not reduce the principal balance of the loan. There are three (3) flexible in-school repayment options[1] that include fully deferred, interest only and $25 minimum repayment.  Click here for a repayment example.

  4. Flexible repayment plans may be offered with up to a fifteen (15) year repayment term for a variable rate loan and ten (10) year repayment term for a fixed rate loan. Students must be enrolled at least half-time at an eligible school[2]. Minimum loan amount is $2,000. Click here for a loan repayment example.

  5. Interest rate reduction of 0.25% for enrollment in automatic debit applies only when the borrower and/or cosigner sign up for automatic payments and the regularly scheduled, current amount due (including full, flat, or interest only payments, as applicable) is successfully deducted from the designated bank account each month. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of In-School, Deferment, Grace or Forbearance. If you have two (2) consecutive returned payments for Nonsufficient Funds, we may cancel your automatic debit enrollment and you will lose the 0.25% interest rate reduction. You will then need to re-qualify and re-enroll in automatic debit payments to receive the 0.25% interest rate reduction.

  6. All applicants (individual and cosigner, if applicable) are required to complete a brief online financial literacy course as part of the application process to be eligible for funding.

  7. Eligibility, loan amount and other loan terms are dependent on several factors which may include: loan product, other financial aid, creditworthiness, school, program, graduation date, major, cost of attendance and other factors. Aggregate loan limits may apply. The cost of attendance is determined and certified by the educational institution.

  8. The legal age for entering into contracts is eighteen (18) years of age in every state except Alabama where it is nineteen (19) years old, Nebraska where it is nineteen (19) years old (only for wards of the state), and Mississippi and Puerto Rico where it is twenty-one (21) years old.

  9. Student borrowers with no credit history or limited history with no adverse credit items[3], as well as student borrowers that pass the minimum credit requirements but fail income or repayment capacity requirements for the loan product may qualify on the basis of several alternative factors which may include: school, program, graduation date, major, cost of attendance, and other factors that could allow for students to obtain a loan in their own name without a cosigner. Such borrowers are limited to selecting a deferred repayment plan, may not select a 5 year repayment term, and a fixed rate is only available upon selecting 10 year repayment term. Additionally, students must:
    • Be a college junior, senior or graduate student enrolled full-time (or with an expected graduation date within 9-months of the date the loan application is submitted) in a degree program at an eligible institution.
    • Be a U.S. citizen or have U.S. permanent resident status.
    • Have satisfactory academic performance of 2.5 GPA or greater.

[1] See Item 9 for limitations on students that qualify on the basis of a payment-to-future-income calculation.

[2] See Item 9 for limitations on students that qualify on the basis of a payment-to-future-income calculation.

[3] Adverse credit items include but are not limited to: delinquencies of sixty (60) days or more within the past 2-years, reported bankruptcies within the past 5-years, defaulted education loans, certain unsatisfied collection or charge-off accounts and any other unsatisfied major derogatory items as reported on a Trans Union credit report obtained by the lender.