Ascent offers co-signed and non-co-signed student education loans, giving borrowers without co-signers more options for university financing. We rated the organization based on its co-signed, credit-based undergraduate education loan.
Ascent sets itself apart using its selection of payment reduction and deferral options, rare among private lenders. Borrowers can pick a phased repayment schedule, which provides for a lower monthly payment to begin with that increases over time. This can be useful for graduates who are just starting out, who'll likely earn more money because they advance within their careers.
Borrowers may also withhold payments when they experience temporary financial hardship for you to three months at a time, up to and including more 24 months as a whole. (However, this forbearance means that you will pay off the loan on the longer period of time.) Interest continues to accumulate throughout the forbearance, that is true for that vast majority of private student loans.
Ascent also offers a graduation reward of 1% from the original loan principal balance. Check the circumstances you have to meet to qualify.
Ascent won the Forbes Advisor Award for Best Private Student Loans of 2022. Find out more here.
Loan conditions : 5, 7, 10, 12 or 15 years old
Loan amounts available: $ 2,001 as much as the all inclusive costs of participation, up to a more $ 200,000 per academic year ($ 200,000 as a whole)
Eligibility: Student borrowers without a credit rating can qualify with a creditworthy co-signer. Co-signers must show salary of a minimum of $ 24,000 for the current year and the previous year. Co-signers must have the absolute minimum credit rating of 660 when the student has a score of less than 700, along with a minimum credit rating of 620 when the student has a score of 700 or higher. *
Opt-out options: In the big event of financial hardship, borrowers can withhold payments for up to three months at a time, for a total as high as 24 months over the life of the borrowed funds. Only four series of abstentions (up to 12 months) could be taken consecutively.
Co-signatory release policy: Available after 24 consecutive months of direct debits, when the primary borrower meets certain credit score requirements.