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Securing the right loan provider is essential for funding your education. Ascent Student Loans stands out as a favored option for students seeking flexible loan solutions, attractive interest rates, and numerous advantages. This guide will provide you with all the information you need about Ascent Student Loans, such as eligibility criteria, repayment plans, and the perks of selecting Ascent.

What Are Ascent Student Loans?

Ascent Student Loans provides a variety of loan options, including both cosigned and non-cosigned loans. This variety allows students to choose what best fits their financial and academic needs. Whether you have a cosigner or prefer to take out a loan on your own, Ascent has you covered. They cater to undergraduates, graduates, and those pursuing career-oriented paths.

Eligibility Criteria

Ascent Student Loan offers two primary types of loans: cosigned loans and non-cosigned loans, each with distinct requirements.

Cosigned Loans.

• A creditworthy cosigner is necessary.
• The student must be enrolled at least half-time in an approved institution.
• Both the student and the cosigner must meet specific credit score and income criteria.

Non-Cosigned Loans.

• These loans are designed for students without a cosigner.
• They require a certain level of academic performance or enrollment status, such as being a junior or senior.
• The student needs to show financial responsibility through factors like academic success and potential future earnings.

Repayment Options

Ascent provides a variety of repayment options tailored to accommodate different financial needs, allowing borrowers to have more control over their loan management.

• Deferred Repayment: You won’t need to make any payments while attending school, with repayment starting six months after you graduate or leave your studies.
• Interest-Only Payments: During your time in school, you can choose to pay just the interest, which can help lower the overall cost of your loan in the long run.
• Fixed Payments: You can opt for small, consistent payments while in school, transitioning to full payments after graduation.
• Immediate Repayment: Begin making full payments (both interest and principal) right away, which can help you pay off your loan more quickly and save on costs overall.

Different Repayment Plans (Fixed, Deferred, Interest-Only)

Ascent Student Loans provide a range of repayment options designed to accommodate different financial needs. You can opt for fixed payments, which keep your monthly amount consistent, deferred payments that let you begin repayment after you graduate, or interest-only payments that lower your monthly expenses while you’re still in school.

• Grace Period and Flexibility
  Ascent offers a six-month grace period following graduation, giving you the opportunity to secure employment and get your finances in order before repayments start. They also provide flexible repayment options to assist you in navigating any unforeseen financial difficulties.
• Early Repayment Benefits
  Ascent allows you to pay off your loan early without any penalties. This means you can reduce your interest costs by making additional payments whenever possible, ultimately lowering the total amount you owe.

Interest Rates and Fees

Ascent Student Loans provides options for both fixed and variable interest rates. Fixed rates stay consistent for the entire duration of the loan, while variable rates can change based on market trends. The interest rate you receive will be influenced by your credit score, the specific loan type, and whether you have a cosigner.

• No Origination Fees: A key advantage of Ascent Student Loans is the absence of origination fees, which can lead to substantial savings for borrowers.
• Late Fees: Keep in mind that there may be late fees if payments are missed, but Ascent offers grace periods and repayment assistance to help you stay on track.

Benefits of Ascent Student Loans

Ascent provides distinctive advantages for borrowers that distinguish them from other lending institutions.

• Cash-Back Graduation Reward: Graduating students can earn 1% cash back on their loan amount.
• Career Support: Ascent supplies valuable resources to assist students in career preparation, such as job placement services and financial literacy tools.
• Repayment Flexibility: With various repayment options and a six-month grace period, Ascent enables students to customize their repayment plans according to their financial needs.
• Borrower Protections: Ascent includes options for economic hardship forbearance and deferment for students encountering financial difficulties post-graduation.

Application Process

Applying for Ascent Student Loans is an easy process that you can complete entirely online. Here’s a quick overview of the steps involved:

1. Check Your Eligibility: Make sure you meet the academic and financial criteria for either a cosigned or non-cosigned loan before you start your application.
2. Fill Out the Application: Enter your personal, financial, and school details using Ascent’s online platform.
3. Submit Required Documents: You might need to upload supporting documents such as tax returns, proof of enrollment, and identification.
4. Review and Sign: After your application is approved, take a moment to review the loan terms and sign the necessary paperwork.

Loan Forgiveness and Refinancing Options

Ascent doesn’t provide direct loan forgiveness programs. However, if you’re employed in a qualifying field for federal loan forgiveness, like public service, you could still be eligible for forgiveness after consolidating or refinancing your federal loans.

If you’re aiming to lower your monthly payments, refinancing with Ascent or another lender could be a smart choice. This process lets you combine several loans into one, possibly securing lower interest rates.

Customer Support and Resources

Ascent is dedicated to offering continuous support to its borrowers. They provide access to financial wellness resources, job placement assistance, and excellent customer service. Borrowers can easily manage their loans through a user-friendly online portal, where they can make payments, check their loan status, and seek further help.

Conclusion

Ascent Student Loans offers a great choice for students seeking flexible financing options that come with competitive rates and valuable borrower benefits. They provide both cosigned and non-cosigned loans, a variety of repayment plans, and useful resources for career and financial planning. Ascent is dedicated to helping students every step of the way in their educational experience and beyond.