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.
A borrower may request deferment in writing, or by completing and signing a deferment form and providing the appropriate documentation requested on the form. All deferments after the In-School period are provided solely at the lender’s discretion. Interest shall continue to accrue on loans during periods of authorized deferment. Unpaid interest is capitalized when the deferment period ends. Ascent Student Loans include the following deferment options:
Active Duty Military Deferment
A borrower is eligible for an Active Duty Military Deferment upon submitting an application for such and eligible documentation to the repayment Servicer showing that he or she is serving on active duty during a war or other military operation or national emergency or performing qualifying National Guard duty during a war or other military operation or national emergency.
Student borrowers that have exited an In-School Status, either by separating from school (or dropping to less than half-time enrollment) and subsequently entering a repayment status prior to re-establishing at least half-time enrollment at an eligible institution, or by using the maximum allowable months of In-School Status, may be eligible for an In-School Deferment. Student borrowers must apply for an In-School deferment, and eligibility is based on verification of at least half-time enrollment at an eligible institution.
Residency / Internship Deferment Student borrowers may be eligible for a Residency / Internship Deferment if the student:
Has been accepted into a Residency / Internship program which must:
Residency/Internship Deferment is subject to the following, additional limitations:
Temporary Hardship Forbearance
Borrowers experiencing periods of financial difficulty may be granted forbearance. The forbearance period duration may be from a minimum of one month to a maximum of three months. A borrower may apply for up to four (4) consecutive periods of Temporary Hardship Forbearance. A maximum of twenty four (24) total months of Temporary Hardship Forbearance may be granted during the life of the loan. Interest shall continue to accrue on loans during periods of authorized forbearance. Unpaid interest is capitalized when the forbearance period ends. This forbearance DOES NOT extend the repayment term.