Ascent Funding Student Loans Overview
Information Composed by Jake McCall, Verified by Ascent Funding LLC
Ascent student loans are beneficial for students with or without a cosigner. They also don't employ fees such as origination and late fees and offer more flexibility and customization in comparison to other lenders. Ascent does not offer student loan refinancing, and some schools and universities may not be eligible. Ascent is one of the few private student loan companies where non-cosigned loans are offered as well as parent loans, with competitive and beneficial terms.
Quick Overview
Company details
Ascent Funding is a San Diego based online education lender that was founded in 2016. As of 2025, the company maintains a B+ rating overall according to the BBB (Better Business Bureau). It is one of the few lenders that offer student loans to DACA students and non-US citizens as well as those without access to a cosigner, making them appealing to individuals who meet those criteria. They also regularly offer no-essay scholarships and are known for above average perks and benefits in their products.
We may be paid compensation for the products offered below. This by no means influences what we say or how we portray those products. Pluto is meant to help, not hinder your education funding.
Ascent's No-Essay Scholarship
Ascent has issued over $355,080 in scholarships to help parents and students cover the cost of school related expenses including:
Tuition
Books
Groceries
Rent
Parking & Transport
Plus other monthly bills
Ascent at a Glance
Loan repayment plans are available with 5, 7, 10, 12, or 15 year terms for undergraduate or up to 20 year terms for graduate students.
No application, origination, disbursement, or late fees. Plus a 9-month grace period.
Variety of borrower benefits save money by claiming 1% cash back at graduation + a 0.25% - 1.00% autopay discount.
Some loan types may require an established credit history in order to qualify.
Does not offer student loan refinancing and some colleges and universities may not be eligible.
Juniors and seniors without a cosigner, credit history, or income may be eligible for Ascent’s non-co-signed outcomes-based loan.
Undergrad Loans
Associates, Bachelors, Accelerated Nursing
Ascent Undergrad Loans
Ascent offers competitive interest rates and a variety of benefits for borrowers. Most plans are able to be customized using a variety of different methods such as the type of repayment plan, and repayment length (5, 7, 10, 12, 15 years). Ascent’s non-consigned outcomes-based loan requires students to have a 3.0 GPA or higher, be a college junior or senior, and only offers a 10 or 15 year term. Ascent undergraduate loans cover over 80% of 4-year schools and select for-profit schools.
0.25--1.00% autopay discount
Request a 1% cash-back Graduation reward
Progressive repayment option
DACA Students eligible without cosigner
Up to a $200,000 aggregate limit
No late or NSF fees
9-month grace period
Cosigner release after 12 months of on-time repayment (if applicable)
Outcomes based does not cover Associate degrees
Outcomes based is structured with 10 or 15 year terms only
Key Undergraduate Features
Graduate Loans
Business, Medical, Dental, Law, Health, and More
Ascent Graduate Loans
Ascent offers graduate loans for many degrees, with competitive and low interest rates compared to other lenders. A high amount of flexibility and customization is offered, a $400,000 limit is granted, and grace period ranges up to 36 months. DACA students are welcome to apply without a cosigner as well as non-US citizens who have a permanent US resident as a cosigner.
0.25% autopay discount
1% cash-back Graduation reward
DACA Students eligible without cosigner
Up to a $400,000 aggregate limit
between 9--36-month grace period
7, 10, 12, 15, or 20+ year terms
Progressive repayment option
No late or NSF fees
Apply for cosigner release after 12 months of consecutive, on-time repayment
Key Graduate Features
Parent Loans
Parents or Guardians taking out loans for Students
Ascent Parent Loans
Ascent parent loans are designed for a guardian, or any other creditworthy individual, borrowing for a student enrolled at an eligible institution. Customization and flexibility are significantly less than Ascent's other offered products but their parent loans still maintain borrower benefits and lack of fees. The parent must be a US citizen or permanent US resident.
5, 7, 10, 12, or 15 year terms
.25% autopay discount
No origination, late, or NSF fees
Key Parent Features
Minimum income of $40,000
Must be a US citizen or resident
Minimum loan amount of $2001, or $6001 for Massachusetts residents
Disclosures:
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 4/1/2025 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.