Finxpd
    Facebook Twitter Instagram
    Finxpd
    • Home
    • Education
      • Cryptocurrencies
      • Stocks
      • Forex
      • Commodities
      • Economies
      • Investing
      • Technologies
      • Career Planning
    • Financial
      • Credit cards
      • Banking
      • Insurances
      • Retirement Planning
      • Taxes
      • Brokers
      • Regulations
      • Funds & Loans
    • Reviews
      • Popular Brokers
      • Popular Savings Accounts
      • Popular Credit Cards
      • Popular Personal Loans
      • Popular Student Loans
      • Popular Stocks
      • Popular Low Spread Brokers
      • Popular Insurances
    • Comparison
      • Broker
      • Stock Investment
      • Cryptocurrency Exchanges
      • Financial Advisors
    • About us
    • Contact
    Finxpd
    Home » Ascent: One of The Best Private Student Loans for June 2022
    Ascent
    Reviews

    Ascent: One of The Best Private Student Loans for June 2022

    June 28, 2022Updated:November 4, 20228 Mins Read253 Views
    Share
    Twitter LinkedIn

    Private student loans might be a wonderful alternative if you have fatigued all of your scholarship, grant, work-study, and federal student loan options. However, you still need money for school. While most private student loan lenders need outstanding credit, we suggest submitting your application with a creditworthy cosigner to increase your chances of acceptance. A cosigner may also assist you in obtaining a cheaper interest rate, lowering the entire cost of your loan. However, among our research into rates, qualification requirements, repayment details, and more, you will discover one of the best private student loans which name is “Ascent” in the following review.

    List of Contents

    • Ascent: Website
      • Overview
      • Why We Selected It
      • Qualification Requirements
        • 1. Financial Requirements
        • 2. Educational Requirements
        • 3. Other Requirements
      • Ascent’s Student Loan Program
        • 1. Cosigned Student Loans
        • 2. Non-cosigned Students Loans
      • Repayment Details
        • 1. In-school Repayment
        • 2. Post-School Repayment
        • 3. Other Repayment Choices
      • Pros & Cons
        • Pros Clarified
        • Cons Clarified
      • Customer Service
      • Is Ascent A Worth Private Student Loan to Apply?

    Ascent: Website

    Best for: Patience and adaptability

    Variable Rates: 1.78% – 9.37% APR

    Fixed Rates: 5.17% – 13.21% APR

    Loan Amounts: $2,001 – $200,000

    Overview

    Ascent is a San Diego, California-based online student loan provider. Its student loan program is distinct from those of other lenders since it provides three distinct possibilities. The typical cosigned loan, non-cosigned credit-based loan, and non-cosigned future income-based loan are among its offerings. 

    Borrowers seeking repayment protection may be relieved to learn that Ascent provides many deferral and kindness ways. Active-duty military deferral, in-school deferment, and residence or internship deferment are all choices for Ascent’s student loans.

    Importantly, loans include temporary hardship forbearance, administrative forbearance, natural catastrophe, or proclaimed emergency forbearance for persons in financial distress. All three of these choices will lengthen the loan’s payback period.

    Why We Selected It

    Ascent shines out among private student loans for its variety of payment reduction and deferral choices. Borrowers can choose a progressive repayment plan, which begins with a lower monthly payment and gradually climbs over time. This can be beneficial for recent graduates who will likely earn more money as they advance in their jobs.

    Moreover, if borrowers are facing temporary financial trouble, they can also stop payments for one to three months at a period, up to a total of 24 months. However, by using this forbearance, you will repay the debt over a longer period of time. The overwhelming majority of private student loans continue to collect interest even in deferment.


    Qualification Requirements

    Qualification Requirements

    Ascent student loans are available in co-signed and non-cosigned types for undergraduates and graduates. If you do not fulfill the cosigned loan eligibility conditions given below, you may be qualified for Ascent’s non-cosigned loan.

    1. Financial Requirements

    • A credit score is at least 540.
    • The approval after a past bankruptcy must not be within only the last five years.
    • The minimum yearly income is $24,000.

    2. Educational Requirements

    • You should be more than a half-time student.
    • Students must be enrolled in a degree-granting program at a qualifying institution.

    3. Other Requirements

    You should be a U.S. citizen or permanent resident, as well as foreign or DACA students whose cosigner is a U.S. citizen.


    Ascent’s Student Loan Program

    Ascent's Student Loan Program

    Ascent offers student loans to undergraduate and graduate students, but your eligibility for a loan depends on your year of study and whether you have a cosigner.

    1. Cosigned Student Loans

    If you have a cosigner with strong credit and a stable income, you may qualify for an Ascent student loan as an undergraduate or graduate student, regardless of your year.

    Importantly, you could borrow up to $200,000 and select between a variable or fixed interest rate. Additionally, there are no initiation or application costs, nor are there prepayment penalties.

    2. Non-cosigned Students Loans

    If you do not have a cosigner, you may still be eligible for a student loan through Ascent. Moreover, even if you have no credit history, you can still be qualified. Therefore, this is a significant advantage that distinguishes Ascent from other private student loan providers.

    Nevertheless, not all students may qualify for an outcome-based loan without a cosigner. For example, freshmen and sophomores are not eligible. To qualify for a loan without a cosigner, you must be a college junior, senior, or graduate student enrolled full-time. Besides, if you expect to graduate within nine months of the loan application submission date, you can also qualify. 

    The maximum total for loans without a cosigner is $200,000. With credit-based loans, you are permitted to borrow up to this amount every year. With an outcome-based loan, you are limited to borrowing no more than $20,000 each year, with the same aggregate limit.


    Repayment Details

    Repayment Details

    Ascent provides payback lengths of 5, 7, 10, 12, and 15 years. The lender offers some of the greatest repayment options for borrowers who may be suffering financial difficulties.

    1. In-school Repayment

    • Monthly interest payment
    • Pay $25 each month
    • Non-payment deferred

    2. Post-School Repayment

    • 5, 7, 10, 12, or 15-year repayments
    • 9-month grace
    • School and military deferments
    • Forbearance up to 24 months,  in a maximum of 4 consecutive periods

    3. Other Repayment Choices

    • Cosigner release available after 24 on-time payment.
    • Death discharge
    • Disability discharge

    Pros & Cons

    Ascent

    Pros

    ✔ Hardship forbearance period is up to 24 months

    ✔ With no cosigner and no credit history, you may still qualify for a loan

    ✔ Cashback reward for graduating

    Cons

    ✘ Interest rates may be expensive

    ✘ Freshmen and sophomores do not qualify for outcome-based loans without a cosigner

    Pros Clarified

    Ascent
    • Hardship forbearance period is up to 24 months

    Ascent permits you to enroll into forbearance if you are suffering financial difficulties such as a job loss or medical emergency. Over the course of your loan, you have the option of delaying payments for up to three months at a time. Since many other lenders only allow for a one-year grace period, the two-year forbearance period is a big advantage.

    • With no cosigner and no credit history, you may still qualify for a loan

    As we know, to qualify for a student loan with most lenders, the applicant must have a strong credit history or be a cosigner. However, Ascent permits juniors, seniors, and graduate students with inadequate credit histories to get loans without a cosigner. Freshmen and sophomores with a credit history may also qualify for a loan without a cosigner.

    • Cashback reward for graduating

    You may be qualified for Ascent’s 1% cashback graduation reward if you graduate within five years of your loan’s repayment. You will get 1% of your initial principal amount by direct transfer or cheque. For instance, if your first loan was $10,000, you would get a $100 bonus.

    Cons Clarified

    Ascent
    • Interest rates may be expensive

    The interest rates for Ascent’s loans may be bigger than other options. Due to the greater risk incurred by the lender, interest rates for loans without a cosigner may be very high. Federal student loans offer the lowest interest rates and should be used before private student loans.

    • Freshmen and sophomores do not qualify for outcome-based loans without a cosigner

    Although Ascent permits borrowers with minimal or no credit history to get loans without a cosigner, only juniors, seniors, and graduate students are eligible for these loans.

    Customer Service

    Ascent

    The Ascent customer service team is situated in the United States. You can be reached by phone number (877-216-0876), or by email ([email protected]). Importantly, it may be reached during the following hours:

    • Monday through Thursday: 7 a.m. to 5 p.m. (PT)
    • Friday: 7 a.m. to 4 p.m. (PT)

    Is Ascent A Worth Private Student Loan to Apply?

    Ascent

    As we know, federal student loans often offer cheaper interest rates and more flexible repayment choices than private loans. However, they generally have tighter borrowing limitations. Due to the high expense of education, you may need more funds than are available via federal loans. Thus, obtaining a loan from a lender like Ascent may help you pay for your education.

    Moreover, many other private lenders need cosigners. Thus, it might be tough to qualify for a loan if you lack a family or close acquaintance with excellent credit. However, with Ascent, you may get approval without a cosigner. This is a key advantage for Ascent over other lenders. However, it is essential to compare loan offers from various lenders to get the best rates and conditions.


    In summary, Ascent is a lender all private-loan-seeking students should prequalify for. It is one of the few lenders providing no-cosigner loans. It provides outcome-based loans without cosigners to persons with bad credit. Importantly, outcome-based loans are only available to juniors, seniors, and graduates. Moreover, Ascent’s rates may be higher than others, particularly without a cosigner. Nevertheless, their loans are good if you can afford them.

    Related Articles:

    • Best Personal Loans: Most 9 Recommended in 2022

    Read more: Popular Student Loans

    Source: Forbes, Investopedia

    Popular Student Loans
    Share. Twitter LinkedIn

    Related Posts

    Nationwide Pet Insurance Review : One of America’s Oldest and Largest

    January 27, 2023

    5 Best Penny Stocks to Buy in 2023

    January 27, 2023

    Top 7 Best Fintech Stocks to Buy in 2023

    January 16, 2023

    Top 7 Best Meme Stocks to Invest in 2023

    January 11, 2023
    POPULAR

    Yield Farming VS Staking: Which Is the Better Long-Term Investment?

    June 23, 2022

    The Differences between Investment and Speculation Investors Must Know

    June 8, 2022

    What is Cryptocurrency? (New Edition 2022)

    June 7, 2022
    Risk Disclaimer: Finxpd will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of Finxpd or its employees.

    Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review.

    Menu
    • Home
    • Education
    • Financial
    • Reviews
    • About us
    Top Insights
    Good APR for a Credit Card: The Important Thing to Know before Applying
    January 31, 2023
    Nationwide Pet Insurance Review : One of America’s Oldest and Largest
    January 27, 2023
    Twitter LinkedIn YouTube TikTok
    • Home
    • Education
    • Financial
    • Reviews
    • About us
    Copyright © Finxpd 2023. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.