Posted by Are you a university student? Do you need a loan? Ascent private student loans are the right option for you. Ascent Funding specializes in offering loans to college students. With the loan amount, you can cover all school expenses. Ascent Funding offers three types of loans. Once you pre-qualify for the loan amount, you are a step closer to submitting the loan application.
Ascent is among the top lending companies in the world. Both undergraduate and postgraduate students are eligible for the loan. Ascent private student loans are provided by Ascent Funding. If you are worried about your college finances, you can apply for an Ascent private student loan. They will grant you the loan amount you are qualified for.
How Do Ascent Private Student Loans Work?
Ascent private student loan is very easy to apply for. Their student loans are offered in various types that suit the needs of every student. Ascent funding gives students the option to add a co-signer to their loan application.
You can apply for scholarships with Ascent Funding, apply for any loan you are eligible for, and choose a repayment term that suits you. Ascent offers 9–36 months for loan repayment. Failure to repay the loan amount in full leads to penalties.
Types of Loans Offered by Ascent
Ascent offers a considerable range of student loans. Both undergraduate and postgraduate students can apply for the loan.
However, the eligibility for the loan depends on the years you are going to use in school and other factors. There are three types of loans offered by Ascent Funding. Here are the loans:
• College Loans
These types of loans are created to help students with their college bills and have a flexible repayment method. College loans are suitable for undergraduates, international students, post-graduates, and DACA students.
• Boot camp Loans
This loan type assists students in the payment of college tuition fees and living expenses to enable them to go for a career advancement scheme.
They are also referred to as consumer loans. This loan type is one of the best for students to apply for. The only downside to this loan is that not all colleges accept it.
• Career Loans
Ascent Funding offers this type of loan to assist students who want to take career training. It provides enough funds for the training and other expenses. Students who want to further their careers through training and other programs can apply for this type of loan.
Why Should I Apply for Ascent Private Student Loans?
While there are tons of lenders that offer private student loans, Ascent stands out amongst its counterparts in terms of forbearance flexibility. Perhaps you’re furloughed, laid off, or dealing with financial difficulties.
You’d be glad to know that Ascent offers a plethora of deferment and forbearance options. With these payment options, you can extend the repayment term on your loan. Hence, you should apply for Ascent student loans based on the following:
- You can check your rate and prequalify without impacting your credit score.
- Affordable rates and auto-pay discounts: Student borrowers get an interest rate reduction for undergraduate outcomes-based loans and credit-based loans of 1.00% and 0.25%, respectively.
- Choose your preferred payment option: Presently, non-cosigned loans have four repayment options. These include interest-only repayment, $25 minimum repayments, deferred repayment, and full principal and interest repayment. Ascent provides flexible payment options. You can decide to start paying immediately or after graduation.
- Build Credit: You don’t necessarily need to add a cosigner before applying for a loan. You can apply for a loan and build your credit history.
- Additional resources and app: Beyond giving out loans to students, Ascent provides beneficial tips to help students with their academic excellence pursuit and financial wellness.
- Zero fees: Ascent loans are devoid of origination and disbursement fees, and you’ll not be charged if you pay off your loan early.
Above all, you’ll get a 1% cash back reward upon graduation. What are you waiting for? Apply for the best, hassle-free college loans you need.
Can Non-U.S. Citizen Students Apply for Ascent Loans?
Gladly, Ascent offers loans to all students who attend eligible institutions in the United States. If you are not a United States citizen or permanent resident, you can apply for loans with a cosigner who is a U.S. citizen.
However, non-U.S. citizen students have to provide documents like an unexpired foreign passport, a copy of a government-issued document or identification, and a DACA status.
Eligibility Requirements for Ascent Private Student Loans
Before you are eligible for any loan amount at Ascent, you must meet the necessary criteria. However, there are different criteria for different loan types. All applicants must meet the requirements to be eligible. Here are the basic requirements:
Requirements for Cosigner
- The student must have a minimum credit score. Ascent does not disclose the exact credit score needed. This is because the minimum score is subject to change.
- The co-signer must not earn less than $24,000 a year.
Requirements for No-Cosigner
- Borrowers must meet Ascent’s minimum credit score requirements.
- You must have more than two years of credit history.
- Lastly, you must be enrolled at least half-time.
These are the basic requirements that all potential borrowers must meet to be eligible for Ascent private student loans.
Documents Needed to Apply for Ascent Loans
Before you start your application process for an Ascent student loan, ensure that you fill out the FAFSA form. Once you have done this, you can commence your application.
Make use of the prequalification tool on Ascent’s official website to get an estimate and select a repayment term that suits you. However, some important documents are needed before you can apply. Such as
- Home address
- Financial statement
- Preferred loan amount
- Social security card
- College information
- Recent rent payment
Apart from that, you must be at least 18 years or age or older before you can apply for Ascent loans.
How to Apply for Ascent Private Student Loans
Once you have all these documents in place, you can begin your application process. Whether you want to apply for a college loan, a boot camp loan, or a career loan, the Ascent Funding loan application process is divided into four easy steps. To apply for loans, follow the guidelines below:
- Visit the Ascent Funding website on your device’s browser.
- Click on the ‘’Get Started’’ button on the homepage.
- On the next page, select the type of loan you’re looking for.
- Then choose if you’re the student or the cosigner.
- This takes you to the loan application page.
- The first step is to give your school details.
- The second step entails giving your personal details. This includes your full name, email address, phone number, SSN, and permanent address.
- Step 3 requires your employment details. Enter your level of education, the school you attend, your major course of study, and employment status.
- Step 4 requires your loan info.
- Enter your requested tuition loan amount.
- Add a cosigner or apply solo.
- After that click on ”View Summary”.
- The next page displays all your application info.
- If all the details are correct, click on the ”Continue to Disclosures” button below.
- Review the disclosures on the next page and click on the ”Yes, I Accept” button.
After submitting the application form, the loan amount will be sent to your college for approval. The amount of the loan you can get depends on your income if you’re applying alone. Adding a cosigner increases your potential for a greater loan amount and reduces your interest rate.