Earlier this year, the Ascent team launched updates to their Cosigned and Non-Cosigned loan options to help students cover the cost of their college education and bring more transparency to the student loans marketplace.
As part of the updates, Ascent included the opportunity for students and their cosigners to check their pre-qualified rates without impacting their credit score, lowered the minimum FICO requirement, and added exclusive discounts for students who enroll in automatic payments and more.
Here’s the breakdown.
You may now apply for an Ascent loan and check your pre-qualified rates without impacting your credit score, empowering you to compare rates and explore your options before making a decision (like dating… but better).
Taking out a student loan is a big deal and we want to make sure you are equipped with the right tools to make the best decisions for your financial future.
We designed a suite of affordable student loan options with you in mind:
Where you decide to go to college and what you choose to major in is a big financial decision for not only you, but your cosigners and parents too. Ascent’s Bright Futures™ Engine aims to bring transparency to the college decision journey by helping you evaluate the return of your college investment.
You can visit Ascent’s Bright Futures™ Engine to start your college major journey and see how much money you can expect to earn the first year after graduation.
The number one reason students drop out of college is because they lack the funding to pay for it. To combat that challenge, we want to make college more accessible by increasing the number of loan approvals and lowering our FICO and minimum loan amount.
If you apply for an Ascent loan with an eligible cosigner, you can expect a lowered minimum FICO requirement.
In addition, if you have the majority of your tuition and college expenses paid for, you may apply for an Ascent loan with a minimum loan amount of $1,000.
If you are not a U.S. citizen or U.S. permanent resident or have Deferred Action for Childhood arrival status, you may apply for an Ascent loan with a creditworthy cosigner who is a U.S. citizen or U.S. permanent resident.
In addition, we are on a mission to make college more affordable by building tools and resources that help you plan, save and pay for college. If you have an Ascent loan, you may receive a discount for enrolling in automatic payments.*
To see more specific details about any of these improvements, please visit our FAQs.
Ascent encourages transparency and financial wellness by incorporating financial education into the application process, and by preserving the notion that an education is an investment where students and families should understand the return on their investment relative to the cost. That’s why Ascent created a new private student loans program that gives students more opportunities to qualify for a loan, with or without a cosigner.
*An automatic payment discount of 0.25% for the Credit-Based Loans (Cosigned & Non-Cosigned) and a 2.00% discount for the Future Income-Based Loan (Non-Cosigned) 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 see here.
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