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, they operate under their parent company, Goal Structured Solutions. Their primary objective is to help students expand their possibilities. To help meet that goal they offer unique loan products, including:
- Undergraduate student loans
- Graduate student loans
- Loans without cosigners
- Future income-based loans without a cosigner
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 into account factors 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 Future Income Student Loan
If you’re an undergraduate junior or senior, you may qualify for a non-cosigned student loan based on your future income potential. This is true if you have no credit score whatsoever, or if you have a minimum score, as defined by Ascent. You will need to apply to see if you qualify.
Apply for an Ascent Private Student Loan
- AFFORDABLE fixed rates starting at 3.44% 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 5/1/2025 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.
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, especially if you are an undergraduate freshman or sophomore. |
| A combination of cosigned and non-cosigned loan options for undergraduate and graduate students | No federal subsidy (meaning there is no government assistance in paying for the loan) |
| 1% cashback graduation reward for students who graduate from a qualifying program within five years | |
| Refer a friend program where you could earn $25 if your friend submits, and is conditionally approved for, an Ascent student loan | Earning the reward is subject to your friend being approved |
| Flexible repayment terms available, including interest-only while in school | Private loans do not typically have federal-style, income-driven repayment plans |
Ascent Student Loans Cosigner Release
Another benefit that sets Ascent apart is how they treat cosigners. Many family members and friends are hesitant to cosign on loans that obligate them for a long period of time. After all, the longer the term, the greater the chance you may default on the loan. 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 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 scholarship programs, such as their $1,000 Social Causes Student Scholarship which encourages students to share how they become enlightened on the fight against social injustices.
Ascent Student Loan Headquarters
Named 1st for "Best Places to Work in SoCal" 2022, as well as one of the "Best Places to Work" 2022 by the San Diego Business Journal and the winner of San Diego's "Best and Brightest Companies to Work for" 2022, Ascent is an employee-owned education finance company. They operate under their parent company, Goal Structured Solutions.
