Last updated October 2021.
What are the benefits of an Ascent Student Loan?
If you're in the market for a student loan, Ascent has three unique benefits that you should pay attention to:
1. 1% Cash back graduation reward**
Ascent offers a 1% cash back** graduation reward if you meet certain qualifying criteria. This is a very unusual benefit among student loan lenders. Depending how much you borrow, your reward could be enough to cover your first monthly payment ... or to buy a new outfit to wear on job interviews.
2. Non-cosigned loan options for juniors and seniors
In keeping with its philosophy of expanding possibilities, Ascent offers more opportunities to qualify for a loan in your own name based on future earning potential.
Non-cosigned loans are available for juniors and seniors (we'll talk more about this below). If you do need a cosigner, Ascent gives you the option of releasing them after you’ve made the first 24 consecutive full principal and interest payments on time.
3. More affordable repayment options
Ascent’s graduated repayment option is new for 2020-2021 academic year. This allows you to make lower payments in the beginning of your repayment period when you're getting established in your career. As your repayment period goes on, your payments will gradually increase.
You may also choose from other repayment plans ranging from 5 to 15 years. While in school, select from deferred payments, interest-only payments, or flat payments $25 per month.
4. Some of the lowest interest rates available AND generous discounts
Student loans from Ascent feature some of the lowest starting APRs in the student loan space. Even better: You can knock your interest rate down 0.25% using autopay for cosigned loans. Non-cosigned loans holders may be eligible for a whopping 2% interest rate reduction for using autopay.
5. Hard-to-find repayment relief options
Few private student loans come with options for deferment or forbearance. However, as an Ascent loan holder, you may be granted a temporary period of repayment relief if you are experiencing financial hardship. (Note that forbearance and deferment are granted at the discretion of the lender.)
Why Get a Student Loan from Ascent?
Ascent Student Loans seeks to put the money in the hands of the people who need it the most: the students. They are committed to providing students with more opportunities to fund their education with loans in their own name.
Ascent wants to ensure that borrowers are set up for success. The company encourages transparency and financial wellness by incorporating financial literacy into the loan application process. As an Ascent customer, you’ll learn basics about your student loan from the application through repayment. This program also gives tips and tools to help you plan for your financial future.
As a data-driven company, Ascent was “engineered” by Goal Structured Solutions, Inc. (GS2), an administrator and developer of student loan programs for more than a decade. Currently, loans are funded by Richland State Bank.
Earn $1,000 with the Ascent scholarship — no essay required
In addition to private loans, Ascent is currently running a $1,000 Scholarship Giveaway.
And the best part: There’s no essay required. To enter for a chance to win $1,000, all you have to do is complete a simple task on social media. The scholarship is open to students that are 18+ years old. Click here to learn more.
Get $525 for each friend you refer to Ascent
Ascent is also helping students pay for college with their Refer A Friend Program. You can earn up to $525 for each friend you refer. There’s no limit to what you can earn! Get a custom referral link from Ascent to share with your friends – you don’t even need to have an Ascent loan to refer friends.
Here’s how it works:
- You earn $25 when someone you refer to Ascent Student Loans completes an application and is conditionally approved for a loan.
- You earn an additional $500 when their loan is approved and disbursed.
- Your friend earns $100 when their loan is approved and disbursed.
For more details, visit www.AscentStudentLoans.com/refer
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