A loan designed with you and your family in mind

Every student’s situation is different, so we created the Ascent Tuition cosigned loan to help you get the additional money you need.

  • Cover your tuition & eligible living expenses
  • Choose from affordable fixed or variable rates (see below)
  • Customize your loans
  • No application fees

Benefits for you & your cosigner

Check your eligibility to apply in under a minute

Have a better chance to qualify for a lower interest rate

Customize your loan - pay after leaving school*

Release your cosigner after 24 consecutive on-time payments

Support when you need it

If you can’t qualify for a loan in your own name for the full amount you need, applying with a creditworthy cosigner may help you qualify for a lower interest rate. Cosigners (often parents or family members) have an obligation to make payments should you default.

After you make 24 consecutive on-time payments, you can request to release your cosigner.

Setting you up for financial success

Once you release your cosigner, you can build credit history in your own name.
We care about your success so we offer you access to free financial tools to help you borrow responsibly and reach your goals.

Choose from affordable fixed or variable rates

FIXED APR: 4.89% - 11.38%

With an Ascent Tuition fixed rate loan, you make the same payment every month. Your interest rate is set the day you apply, and does not change no matter how much the market fluctuates.

Ascent Tuition fixed rate loans are offered with an Annual Percentage Rate (APR) range of 4.89% - 11.38%

 

VARIABLE APR: 3.27% - 9.52%

With an Ascent Tuition variable rate loan, your payment may be more or less every month. Your interest rates may increase or decrease as the market changes over time.

Variable rates are calculated using 1-month LIBOR rate plus a margin between 2.25% - 9.00% resulting in an Annual Percentage Rate (APR) range of 3.27% - 9.52%.

Ascent Tuition fixed rate loans are offered with an Annual Percentage Rate (APR) range of 4.89% - 11.38%.

 

Variable rates are calculated using 1-month LIBOR rate plus a margin between 2.25% - 9.00% resulting in an Annual Percentage Rate (APR) range of 3.27% - 9.52%.

Rates effective as of 06/01/2017.

More ways to customize your loan

Repayment Terms

Flexible 5-year, 12-year or 15-year* repayment terms.
There’s no penalty for early repayment.

Repayment Options

  • In-School Interest-Only Repayment: Pay interest only while enrolled at least half-time.
  • Deferred Repayment: Start payments up to six months after leaving school.
  • $25 Minimum Payment: Pay a set monthly payment while enrolled at least half-time.

Click here for Ascent Tuition repayment examples.

Discount

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

Forget Fees

No origination, disbursement, or loan application fees.

Loan Amounts

Minimum: $1,000
Maximum: $200,000 (aggregate)

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 us toll-free at 877-216-0876 or email us at help@ascentprogram.com

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. The Ascent Program for Funding Education 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. The Ascent Program for Funding Education 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. The Ascent Program for Funding Education 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 2.25% and 9.00% plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent. The current LIBOR is 1.019% which may adjust monthly.  Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an Annual Percentage (APR) range between 3.27% and 9.52%.  Fixed rate loans have an APR range between 4.89% and 11.38%. Competitive rates calculated monthly at the time of loan approval. (Rates are effective as of 06/01/2017.)

  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 that include fully deferred, interest only and $25 minimum repayment.  Click here for a Tuition repayment example.

  4. Flexible repayment plans may be offered with up to a fifteen (15) year repayment term.  Click here for a Tuition repayment example.

  5. Interest rate reduction of 0.25% for enrollment in automatic debit applies only when the borrower and/or cosigner signs up for automatic payments and the regularly scheduled, current amount due 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 (individual and cosigner) 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.

What is the Ascent Program for Funding Education?

The Ascent Program for Funding Education is an innovative new program that has been launched to provide access to higher education funding for an expanded population of students, while encouraging the financial wellness of students and their families through financial literacy.

Why should I choose the Ascent Tuition loan?

Ascent loans consider criteria other than just credit history and current income when evaluating a student loan applicant. This allows for more students to gain access to higher education funding – in some cases without a cosigner. Additionally, the Ascent loans are competitively priced and offer three (3) flexible repayment options to help students manage loan repayment.

What is the interest rate?

The interest rate is based on a number of factors and may be lower for borrowers that select an Interest Only or $25 Minimum Payment plan rather than a Deferred Repayment plan. Additionally, the interest rate may be lower for a cosigned loan compared to a non-cosigned loan.

  • Borrowers are eligible to receive a 0.25% automatic debit payment interest rate reduction for payments made via automatic debit.
  • Borrowers lose this benefit after two (2) Nonsufficient Funds (NSF) payments, until they re-qualify and re-enroll in automatic debit payments.

Current Ascent Interest Rates:

  • Ascent Tuition:  Click here for current Ascent Tuition fixed and variable rates. 
  • Ascent Independent:  Click here for current Ascent Independent fixed and variable rates. 

How often does the variable interest rate change?

The variable interest rate changes the first of every month with the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent.

What is LIBOR?

LIBOR is a benchmark rate that some of the world’s leading banks charge each other for short term loans and is among the most common interest rate indices used to make adjustments to variable rate consumer loans. LIBOR stands for London Interbank Offered Rate. Ascent loans are variable rate consumer loans that may adjust monthly pursuant to the 1-Month London Interbank Offered Rate (LIBOR) (currency in U.S. dollars) as published on the Wall Street Journal’s website (or any generally recognized successor method or means of publication) on the 20th day of the calendar month immediately preceding any change in rate.i

How does interest accrue?

Interest is calculated on a daily simple interest basis, using the outstanding principal balance each day of the term of the loan. The daily interest rate is equal to the annual interest rate in effect on that day, divided by the actual number of days in the current calendar year.

What is “interest”?

Interest is the price paid for the use of borrowed money. It is typically expressed as a percentage rate over a period of time.

What is the repayment term?

Applicants may choose between a 5-year, 12-year or 15-year* repayment term during the application process. Once the loan is funded, the term may not be changed.
Sample repayment examples are available:

  • Ascent Tuition:  Click here to view Ascent Tuition repayment examples.
  • Ascent Independent:  Click here to view Ascent Independent repayment examples.

*Ascent borrowers who choose a fixed rate option may ONLY select a loan term of five (5) or twelve (12) years (60 or 144 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. 

Is there a penalty or fee if I pay off my loan early, before the repayment term?

No. With Ascent loans, you will not incur any fees or penalties if you pay off your loan before the repayment term.

What is the maximum loan amount?

The maximum loan amount for an Ascent loan is the total Cost of Attendance, for a period not to exceed one full academic year as certified by the school. ii The maximum aggregate loan amount under the Ascent Funding Program is $200,000.

Is there a minimum loan amount?

Yes. The minimum loan amount is $1,000.

What is the status of my loan?

If you are looking for information regarding your Ascent loan application in process or pending disbursement(s):

If you have questions about an existing loan, such as payment, deferment or forbearance information, please contact the loan servicer, University Accounting Service at 800-999-6227 or at www.uasecho.com.

Do I need to be a full time student to obtain an Ascent loan?

No, but you must be at least half-time enrolled in a degree program at an eligible institution.

Are there any repayment incentives for the Ascent Tuition loan?

Borrowers can get a 0.25% interest rate reduction if payments are made by automatic debit. iii

What are my repayment options?

Borrowers may choose from one of these repayment options:

Interest Only – The Interest-Only Repayment option requires that while the student is enrolled at least half-time at an eligible institution, the borrower will pay at least the interest that accrues on the loan each month. Upon graduation or if no longer enrolled at least half-time, the borrower will make full Principal and Interest payments for the remaining term of the loan.

Deferred Repayment – The Deferred Repayment option allows for the borrower to postpone Principal and Interest payments on the loan while the student is at least half-time enrolled at an eligible institution for a period of up to sixty (60) months. Interest accrues during this In-School period and is capitalized upon entering repayment.

$25 Minimum Payment – The $25 Minimum Payment option requires that while the student is enrolled at least half-time at an Eligible Institution, the borrower will pay a monthly payment of at least $25.00. Upon graduation or if no longer enrolled at least half-time, the borrower will make full principal and interest payments for the remaining term of the loan.  Any unpaid interest will accrue and capitalize upon entering full principal and interest repayment.

  • Ascent Tuition:  Click here to view Ascent Tuition repayment examples.
  • Ascent Independent:  Click here to view Ascent Independent repayment examples.

Do I have to make payments while I’m enrolled in school?

Please see “What are my repayment options?”

What is capitalization?

Whenever you have gone through an authorized period during which you are not required to make payments, such as during an In-School, grace, deferment or forbearance period, interest will continue to accrue on your loan and be added to the principal balance when you start making payments again. You will learn more about capitalization when you complete our application and the financial literacy course.

What do I do if I am unable to find my school when I try to apply for an Ascent loan?

Your school may not be on our list of eligible schools at this time. You may email us at partner@ascentprogram.com with your school information to confirm eligibility; otherwise, please contact your school and ask if they have a list of preferred lenders.

Are international students or cosigners eligible for an Ascent loan?

At this time, student borrowers and eligible cosigners must be U.S. Citizens or permanent residents for an Ascent loan.

Do I need a cosigner?

Not necessarily. Ascent considers several factors, including: 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. Nevertheless, applying with a cosigner may result in a lower interest rate.

What does it mean to be a cosigner?

A cosigner agrees to take equal responsibility for the loan. This means that if the student borrower is not able to make the payments, the cosigner is still legally obligated to pay the loan. Either party can make the required monthly payments.

Can I eventually remove the cosigner from my loan?

Yes. After making 24 consecutive on-time payments, you may request that the cosigner is released from your loan.

What are the qualifying requirements for an Ascent loan?

Ascent considers several factors, including: creditworthiness, school, program, graduation date, major, cost of attendance, and other factors.

How are funds disbursed?

Loan proceeds are sent directly to the school, either electronically or by check, depending on the preference of the school. The school first applies loan proceeds to your outstanding balance (tuition, fees, etc.) If there are remaining funds after all balances are paid, the school will refund the money to you in accordance with the school’s refund procedures.

Do you offer forgiveness for death and or/disability?

Yes. The loan is forgiven if the student dies or becomes totally and permanently disabled.

Why must I complete a Financial Literacy module in order to receive a loan?

Ascent includes an interactive course on Financial Literacy as a no-cost feature for students and cosigners to complete as part of the application process. It is a required activity within the application process because we believe it to be an important component of supporting the financial wellness of borrowers under the Ascent Program for Funding Education.

Who is Goal Structured Solutions?

Goal Structured Solutions, Inc. (“GS2”) is the Originator Processor for the Ascent Funding Program.

Who is CampusDoor?

GS2 as Originator Processor utilizes CampusDoor to administer the loan application processing activities for the Ascent Funding Program.

Who is the lender?

Loans are made by Richland State Bank (RSB), Member FDIC, or Turnstile Capital Management, LLC, a wholly owned subsidiary of Goal Structured Solutions, Inc. (GS2).

Who is UAS?

University Account Service (UAS) is the loan servicer for Ascent loans. UAS is a leading student loan servicing company, and they are responsible for sending statements, processing payments, and providing general account guidance.

How do I contact UAS?

You may contact University Accounting Service at 800-999-6227 or log into the repayment portal at www.uasecho.com.

What are my deferment / forbearance options?

The Ascent loans include the following deferment and forbearance options:

  • Active Duty Military Deferment
  • In-School Deferment
  • Residency / Internship Deferment
  • Temporary Hardship Forbearance iv

When do payments begin?

Under the Deferred Repayment plan, repayment begins six (6) months after the student ceases to be enrolled at least half-time at an eligible institution (either by graduation or otherwise). The first payment due is typically 30 to 45 days thereafter. Under the Interest Only or $25 Minimum Payment plans, the first payment due is typically 30 to 45 days after the first disbursement on the loan.

What can I use the money for?

Proceeds from Ascent loans are intended for education related expenses at an eligible school. Education related expenses include tuition & fees, room & board, books, etc.

What will be my monthly payment?

Monthly payments are based on the loan amount, repayment term, interest rate and repayment plan selected.

Sample repayment examples are available:

  • Ascent Tuition:  Click here to view Ascent Tuition repayment examples.
  • Ascent Independent:  Click here to view Ascent Independent repayment examples.

i If the 20th of the month indicated above is not a business day where the banks of both New York and London are open for the transaction of business, then the previous business day will be used to determine the current index. If the annual capitalization date is a non-business day for the Lender or Servicer, then the following interest will capitalize on the next business day.

ii Maximum loan amount is based on Cost of Attendance as certified by the school, less any financial aid already received, and may not exceed the amount requested on the application. Richland State Bank (RSB) may also approve the loan for a lesser amount than requested on the application or certified by the school.

iii 0.25% Auto Debit interest rate reduction applies only when the borrower or cosigner signs up for automatic payments and the regularly scheduled, current amount due is successfully deducted from the designated bank account each month. Borrowers lose this benefit after two (2) Nonsufficient Funds (NSF) payments, until they requalify and re-enroll in automatic debit payments. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of In-School, Deferment, Grace or Forbearance.

iv 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. The Ascent Funding Program includes 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.
    – Active Duty Military Deferment is available up to a cumulative limit of 36-months.
    – This deferment DOES extend the repayment term.
  • In-School Deferment
    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.
    – The maximum deferment period under the In-School deferment is 24-months.
    – This deferment DOES extend the repayment term.
  • 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:
    o Be a supervised program; and
    o Require that the student hold at least a Bachelor’s Degree before acceptance into the program; and
    o Must either:
    Lead to a degree or certificate from an institution of higher education, a hospital, or a health
    facility that offers postgraduate training, or
    Be required before the student may be certified for professional practice or service, which must be
    verified by the relevant state licensing agency.
    Residency/Internship Deferment is subject to the following, additional limitations:
    – The maximum deferment period under any the Residency / Internship Deferment is 24-months.
    – This deferment DOES extend the repayment term.

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.

*Ascent borrowers who choose a fixed rate option may ONLY select a loan term of five (5) or twelve (12) years (60 or 144 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.

We have more loan options for you

Did you know that Ascent Independent looks beyond just your credit and current income to give you more opportunities to qualify for a loan in your own name, without a cosigner?

CHECK ELIGIBILITY   LEARN MORE

TIP: Before taking out private students loans, you should explore and compare all financial aid alternatives, including grants, scholarships and federal student loans.