Ascent is a partner lender from which we receive compensation. Edvisors® evaluates each lender we partner with and only recommend loan programs which we believe are a best fit for our audience.
What is Ascent?
Ascent Funding, LLC is a lender that specializes in private student loans for undergraduate and graduate students. Headquartered in San Diego, California, their primary objective is to help students expand their possibilities. Assent offers unique loan products, including:
- Undergraduate student loans
- Graduate student loans
- Loans without cosigners
- Outcome based loans without a cosigner
- Career Loans
Ascent Private Student Loans
Cosigned Student Loan
If you have a cosigner, you may qualify for a student loan as an undergraduate or graduate student. A cosigner is an individual with a favorable credit history and reliable income who agrees to apply for the loan with you, and to be jointly responsible.
Non-Cosigned Student Loan
To potentially qualify for an Ascent loan without a cosigner, there are certain criteria you need to meet independently. Unlike other lenders, Ascent takes other factors into account beyond creditworthiness when evaluating applications. Even if you lack a credit score, you can still be eligible based on your major and future earning potential. And if you already have an established credit history, you may even be eligible for a more favorable rate.
If you are a full-time undergraduate junior or senior, or if you are a graduate student enrolled in a program full-time you may be eligible.
Non-Cosigned Outcomes-Based Student Loan
If you’re an undergraduate junior or senior enrolled full-time (or at least half time if you're within 9 months of graduation) you may qualify for a non-cosigned student loan based on your future income potential. Ascent uses alternative criteria to credit scores and income to determine eligibility. You will need to apply to see if you qualify.
Career Loans
If you're enrolled in a technical or trade school, Ascent offers funding to help cover your program. Students in disciplines such as aviation, information technology, HVAC, welding (and more) can receive up to the full cost of tuition.
Apply for an Ascent Private Student Loan
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- AFFORDABLE fixed rates starting at 2.69% APR with Automatic Debit Discount*
- 1% CASH BACK Graduation Reward*
- COVER UP TO 100% of your tuition and eligible living expenses.
* 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 1/12/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time.
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. Variable rates may increase after consummation. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.99% APR, with 57 payments of $49.92 while in-school/grace, 60 payments of $193.3 during the repayment term, and a total cost of $14,444.39.
* $25 Minimum Payment: 6.60% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $235.46 during the repayment term, and a total cost of $15,553.03.
* Deferred Repayment: 6.79% APR, with no payment while in-school/grace, 60 payments of $271.69 during the repayment term, and a total cost of $16,267.27.
* Immediate Repayment: 3.99% APR, with 60 payments of $184.13, and a total cost of $11,047.62.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 15.40% APR, with 57 payments of $128.25 while in-school/grace, 180 payments of $142.67 during the repayment term, and a total cost of $32,996.72.
* $25 Minimum Payment: 13.95% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $230.08 during the repayment term, and a total cost of $42,842.24.
* Deferred Repayment: 14.20% APR, with no payment while in-school/grace, 180 payments of $263.35 during the repayment term, and a total cost of $46,603.55.
* Immediate Repayment: 15.15% APR, with 180 payments of $140.97, and a total cost of $25,376.92.
The minimum amount is $2,001 except for the state of Massachusetts. Minimum loan amount for borrowers with a Massachusetts permanent address is $6,001.
How to Apply for an Ascent Student Loan
You should exhaust all financial aid options including scholarships, grants and federal student loans before applying for a private student loan. Ascent private loans are a good option to help fill in the funding gaps once you have exhausted other resources.
To apply for an Ascent student loan, start by entering your college/university to see if it matches Ascent’s list of schools on our website. Then simply click on “Apply Now” to be taken to the application page.
Pros and Cons of Ascent Student Loans
Doing your homework on any lender is important before applying for a new loan. Here are some of the top considerations you’ll want to evaluate for Ascent.
| Pros | Cons |
|---|---|
| Competitive fixed and variable interest rates and fees | The lowest advertised rates are not necessarily what you will qualify for; your rate could be higher based on credit history. A cosigner may be needed. |
| A combination of cosigned and non-cosigned loan options for undergraduate and graduate students | Juniors and seniors may apply for Ascent's outcomes-based student loan without a cosigner. You must still meet eligibility criteria, including GPA requirements. |
| Grace period of up to 9 months | Interest will still be owed during this period. Any unpaid interest will be added to your principal balance when repayment starts. |
| 1% cashback graduation reward for students who graduate from a qualifying program within five years | You must enroll in automatic payments to qualify. |
| Refer a friend program where you could earn $250 in Amazon gift cards if your friend applies for an Ascent student loan | Earning the reward is subject to your friend being approved and actually having the loan funds disbursed. |
| Flexible repayment terms available, including interest-only while in school | Private loans do not have the same benefits or protections as Federal Student Loans. |
Ascent Student Loans Cosigner Release
Ascent allows cosigners to be relieved of all loan obligations after the borrower makes 24 consecutive, on-time monthly payments. There is an application process to release the cosigner, and there may be other qualifying conditions to meet.
Ascent Customer Service
Ascent student loans are managed by an entity called Launch Servicing. You can contact Launch Servicing for questions regarding payments, disbursements or account issues. You can reach customer service representatives by phone or email.
How Ascent Gives Back
Ascent makes a meaningful effort to give back through no-essay scholarship programs, including their $1,000 My Future My Choice Scholarship Giveaway. They also partner with philanthropic investors to help adult learners gain access to higher education through Pay if Forward Funds.
Ascent Student Loan Headquarters
Recognized as a strong business leader, Ascent was named a finalist for the U.S. Chamber of Commerce Foundation's 2025 Citizens Awards. Additionally, Ascent was named one of the "Best Places to Work in Fintech". The company is an employee-owned education finance company. They operate under their parent company, Goal Structured Solutions.
