A private student loan provider called Ascent provides loans for undergraduate and graduate students along with loans for coding bootcamps. Ascent was created to increase access to student loans for borrowers who might not be qualified for other types of financial help. For instance, the lender works with foreign students and those without credit records.
Other details
While Ascent processes loan applications, it is not a direct lender; the Bank of Lake Mills issues its undergraduate and graduate loans, and Launch Servicing is responsible for loan servicing.
All 50 states are served by Ascent’s lending programs. Both co-signed and non-co-signed choices are available. However, borrowers who apply with a co-signer can be eligible for cheaper rates than those who do not.
Learn more about Ascent Student Loans
For undergraduate students, Ascent provides a variety of student loan choices. Based on your current credit history, income, and future employment prospects, you can select a loan type.
- Co-signed Loans
The co-signed loan option could be a wise choice if you know a friend or family member who is prepared to co-sign your loan application and has a stable income and strong credit. This is because co-signed loans typically offer lower interest rates than other loan kinds.
- Credit-based Student Loan
You could be eligible for a loan without a co-signer if you have a steady source of income and a good credit history. Both undergraduate and graduate students may apply for credit-based loans from Ascent.
- Outcomes-based Student Loan
The outcomes-based loan may be a good option for applicants without established credit or a co-signer. With this option, Ascent considers a number of elements, such as your school, degree program, anticipated graduation date, GPA, and the cost of tuition, to evaluate your eligibility for a loan.
In comparison to other loan types, this one feature higher interest rates and stricter borrowing limitations.
Other Benefits of the Loan
- Budget-friendly: Auto-pay savings and reasonable pricing.
- Repayment on your terms: There is no penalty if you decide to pay off your loan early and you can begin making payments right away or after you graduate from college.
- Easy & quick: Fill out your loan application quickly, and without affecting your credit score, see your pre-qualified rates.
- Free tools and applications: Ascent provide extra tools to support your success in school and beyond.
- Establish your own personal credit: Make a loan application on your own. You can add a cosigner if you don’t meet the prerequisites.
Is this loan for you?
With Ascent, you may apply without a co-signer or credit history and still have a good chance of getting approved for a loan with flexible terms. Its distinctive outcomes-based loans provide junior and senior students who wish to be accepted on the basis of their own merits with support of up to $20,000. However, Ascent does charge higher rates than other lenders, particularly for the credit- and results-based loans. Additionally, there are no alternatives for refinancing.
In general, Ascent is a fantastic choice for applicants who have no credit history or who are overseas students seeking to get approved without a co-signer. Just be prepared to spend more.
A Step-by-Step Guide to Applying for Ascent Student Loans
Navigating the world of student loans can be daunting, but Ascent Student Loans offers a straightforward and accessible path to financing your education. In this article, we’ll walk you through the steps to apply for an Ascent Student Loan, ensuring you have all the information needed for a successful application.
- Step 1: Research Your Options Before applying, it’s crucial to understand the different types of loans Ascent offers. They provide both co-signed and non-co-signed loans, catering to a variety of needs. Visit the Ascent Student Loans website to explore your options and decide which loan type best fits your educational journey.
- Step 2: Check Eligibility Ensure you meet the eligibility criteria. This typically includes being a college student enrolled in an eligible program, having a satisfactory academic record, and meeting certain credit or income requirements. Detailed eligibility criteria can be found on the Ascent website.
- Step 3: Gather Necessary Documentation Prepare the necessary documents. This may include proof of identity, academic records, and financial information. If you opt for a co-signed loan, your co-signer will also need to provide their financial details.
- Step 4: Complete the Application Fill out the application form on the Ascent Student Loans website. Provide accurate and complete information. Double-check your application for any errors before submission.
- Step 5: Review Loan Offer Once your application is processed, review the loan offer carefully. Pay attention to the interest rates, repayment terms, and any additional fees.
- Step 6: Accept the Loan If you’re satisfied with the offer, accept the loan. You’ll need to sign the loan agreement, which can typically be done electronically.
Conclusion
Ascent Student Loans provide a flexible and reliable way to finance your education. With clear eligibility requirements, a variety of loan options, and an easy-to-navigate application process, Ascent makes obtaining a student loan less intimidating. Remember to borrow responsibly, considering your future financial situation. By following these steps, you can confidently embark on your educational journey with the financial support you need.
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