ONLY for full-time Juniors, Seniors & Graduate Students*

The Ascent Independent loan is built around one guiding principle: Student loans should expand possibilities, not limit them. Ascent Independent, engineered by Goal Structured Solutions, Inc. (GS2), is a non-cosigned loan that gives domestic undergraduate and graduate students at eligible schools more opportunities to qualify for a loan, in their own name. We consider several factors which may include: creditworthiness, 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. (*See additional eligibility requirements below.)

It’s easy to get started!

Schools can easily add Ascent Independent to their school profile online through their ELM Select or Great Lakes FASTChoice™ account.

 

What You Should Know

 

Rewards

1% Cash Back Graduation Reward upon satisfaction of certain terms and conditions. Click here for more details.

Affordable Rates –
Fixed Or Variable

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 2.261%, which may adjust monthly.  Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 3.71% and 13.01%.  Fixed rate loans have an APR range between 4.22% and 13.66%.  Competitive rates calculated monthly at the time of loan approval. (Rates are effective as of 07/29/2019 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account.)

Discount

0.25% interest rate reduction for payments made via automatic debit.

No Application Fees

No origination, disbursement, or loan application fees.

Repayment Terms

Flexible 10-year or 15-year repayment terms. There’s no penalty for early repayment.

**NOTE: Ascent Independent borrowers who choose a fixed rate option may ONLY select a loan term of ten (10) years (or 120 months, respectively). For certain loans with low balances, the minimum monthly payment amount may cause the loan amortization schedule to be less than the selected term.

Repayment Options

Deferred Repayment: Start payments up to six months after leaving school.

Click here for Ascent Independent repayment examples.

Loan Amounts

Minimum: $2,000
Maximum: $200,000 (aggregate)

*NOTE: Because the Independent loan is available to students without any reliance on cosigners, processing times may be longer and loan amounts may be lower than the loan amount requested.

Eligibility

  • Ascent Independent considers several factors which may include: creditworthiness, 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.
  • Ascent Independent loans are for college Juniors, Seniors and Graduate students that are full-time enrolled in a degree program at an eligible institution.
    • MUST be U.S. citizens or have U.S. permanent resident status.
    • MUST have satisfactory academic performance of 2.5 GPA or greater.

Loan Forgiveness & Forbearance

Ascent loans include deferment and forbearance options: Active Duty Military Deferment, In-School Deferment, Residency / Internship Deferment and Temporary Hardship Forbearance. See Terms & Conditions for more details. The loan is forgiven if the student dies or becomes totally and permanently disabled.

Help & Support

From your first application to your final payment, we’re committed to helping your every step of the way. Our 100% US-based Ascent Customer Service Team is here for you. Call our toll-free number at 877-216-0876 or email us at [email protected].

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 may be funded by Richland State Bank (RSB) or Turnstile Capital Management, LLC (TCM), which are not affiliated entities. 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. All loan products may not be available in certain jurisdictions. Other terms and conditions apply. Ascent is a federally registered trademark of TCM and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.


    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 2.261%, which may adjust monthly.  Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 3.71% and 13.01%.  Fixed rate loans have an APR range between 4.22% and 13.66%.  Competitive rates calculated monthly at the time of loan approval. (Rates are effective as of 07/29/2019 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. Fully deferred repayment option does not require payments while enrolled in school at least half-time.  There are no prepayment penalties, full payments of principle and interest can be made during the deferment period.  Click here for an Independent 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.  Available for students enrolled full-time at an eligible school.  Minimum loan amount of $2,000.  Click here for an Independent repayment example.

    5. Interest rate reduction of 0.25% for enrollment in automatic debit applies only when the borrower signs 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) 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 in order to receive the 0.25% interest rate reduction.

    6. All applicants 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 a number of factors, including: 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.

NOTE: 1% Cash Back Graduation Reward subject to terms and conditions, click here for details.