How to apply for Ascent Student Loans
Apply for loans from Ascent, with or without a co-signer, for undergraduate and graduate students. Learn how to apply immediately.
One of the Best Lenders for Students with Bad Credit and/or Who are Coming from Abroad
Ascent Funding is a reputable online lender that offers student loans for undergraduate and graduate students at over 2,600 qualified schools in the United States. Whether you have bad credit or are an international student, Ascent provides loan options with or without a co-signer.
What sets Ascent apart is its willingness to work with students who have Deferred Action for Childhood Arrivals (DACA) status or who are non-U.S. citizens or permanent residents. If you fall into these categories, you are still eligible to apply for an Ascent loan.
Established in 2015 and based in San Diego, Ascent Funding specializes in providing substantial loans of up to $200,000 per academic year to cover the entire cost of undergraduate or graduate studies. This makes it an excellent choice for students pursuing medical, dental, business, law, pharmacy, and various other graduate degrees.
International students and temporary residents of the United States can also benefit from Ascent student loans as long as they have an American citizen or permanent resident co-signer with good credit. So, if you fall under any of these categories, seriously consider Ascent as your lender of choice.
Who Can Qualify for Ascent Student Loans?
In order to be eligible for an Ascent student loan, you must be enrolled at one of Ascent’s partner schools. If your college or university is not one of the 2,600 schools and coding boot camps that Ascent partners with, you will need to explore other lending options.
Ascent does not specify a required debt-to-income (DTI) ratio or minimum credit score. However, you or your co-signer must have a minimum annual income of $24,000 and at least two years of credit history to be eligible for a loan.
Ascent’s loans are available to U.S. citizens, lawful permanent residents, DACA students, and foreign students. However, international students must have an American citizen or lawful permanent resident co-signer in order to qualify.
When applying for an Ascent loan, you have the option to include a co-signer. Having a co-signer can increase your chances of loan approval and potentially enable you to negotiate a lower interest rate. After making 12 qualifying monthly payments on most loans, borrowers become eligible for co-signer releases. However, co-signer releases are not available to borrowers who are not U.S. citizens or lawful permanent residents.
How to Apply for Ascent Student Loans
Ascent offers a prequalification service that allows you to determine loan eligibility without impacting your credit score. This helps you evaluate loan rates and conditions before completing the full application process.
After finding the ideal loan, you can proceed with the entire application. This will require you to provide personal information such as your Social Security number, academic records, and details about your job and income. Once your application is submitted, Ascent will review it, and the process typically takes one to two business days.
If your application is accepted, Ascent will send your loan information to your school for certification. Your school may adjust the loan amount or disbursement dates as necessary. Once the school verifies the data, Ascent will reach out to you with an updated loan agreement.
Take the time to carefully read and sign the loan agreement if you agree with the terms. Ascent will then transfer the money directly to your school. After the school verifies all the information in your student loan application, Ascent will provide you with a final disclosure and inform you of your loan disbursement dates.
Ascent Student Loans vs Earnest Student Loans
Both Ascent and Earnest offer excellent student loan options, but there are some key differences to consider. If you have a better credit score (around 650 FICO range), Earnest may provide more favorable options. However, if your credit score is not as strong, Ascent is still a highly reliable choice.
Benefits of Ascent Student Loans
- Approval possible without a co-signer or a track record of good credit.
- Forbearance available for up to 24 months in case of financial difficulty.
- Borrowers may be eligible for a 1% cash-back reward upon graduation.
- Loans are accessible to international students with a suitable co-signer.
Benefits of Earnest Student Loans
- Flexible loan conditions and fees.
- Option to skip one payment every twelve months.
- Ability to check approval and interest rates without a hard credit check.
How to Apply for Earnest Student Loans
If you are interested in Earnest student loans, be sure to check out the application process specific to Earnest loans.
