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Student Loans

Ascent Student Loans Review

Updated May 17, 2023   |   9 mins read

Key points:

  • Ascent offers both cosigned and non-cosigned student loans to both undergrads and graduate students.
  • The lender does not currently offer student loan refinancing.
  • Ascent offers 1% cash back at graduation.

Ascent Student Loans was created to make private student loans more accessible to borrowers without a traditional credit profile.

In addition to offering a student loan that borrowers without a cosigner may be approved for, the company also offers financial wellness education to help students make well-informed decisions.

This Ascent Student Loan review will cover the loan options Ascent offers and help you to decide if the lender is right for you.

In this review:

Ascent Student Loans: At a glance

Here’s a quick rundown of the loan options Ascent offers. You can read more about each loan lower on the page.

Ascent CosignedAscent Non-CosignedAscent Graduate Loans
Loan amounts$1,000$200,000$1,000$200,000$1,000$200,000
Term lengths5, 10, or 15 years5, 10, or 15 years10, 15, or 20 years
Fixed rates3.9814.9213.98%14.92%1Depends on the loan
Variable rates3.1713.9213.17%13.92%1Depends on the loan
Autopay rate reduction0.25%0.25% – 2.00%0.25%
LendEDU rating4.7/54.7/54.8/5
Learn moreJump to full reviewJump to full reviewJump to full review

Ascent’s Cosigned Credit-Based Student Loan

Ascent Cosigned Credit-Based Student Loan

Ascent Logo
at Ascent’s secure website
Editorial Rating

Ascent Cosigned Credit-Based Student Loan

Editorial Rating

What we like:

1% Cash Back Reward upon graduation

Fixed APR3.3813.72
Variable APR2.4412.39
Loan Terms5, 7, 10, 12, or 15 years
Loan Amounts$2,001$200,000
See how Ascent’s private student loan product stacks up with other options

Borrowers who have a creditworthy cosigner can qualify for Ascent’s Cosigned Credit-Based Loan. This loan was ranked as one of the best student loans according to our editorial ratings.

Ascent’s Cosigned Credit-Based Loan helps you cover your tuition and eligible living expenses. It doesn’t have any application fees, and with the backing of your cosigner, you’ll have a chance at lower interest rates.

If you have a cosigner who is a bit leery about being stuck in a long repayment period, they might be glad to know they can be released as a cosigner after you make 12 months’ worth of on-time payments.


  • Borrowers can save money by opting for automatic debit to get a 0.25% rate reduction and by taking advantage of the 1% Cash Back Graduation Reward (provided they meet the criteria).
  • You won’t be penalized for paying the loan off early.
  • While in school, you can begin making interest-only payments soon after the loans are disbursed or you can opt for in-school deferment to delay payments until six months after school ends. Another option is to make a minimum $25 monthly payment while still in school.

Ascent’s Non-Cosigned Student Loans

at Ascent’s secure website
Editorial Rating

Editorial Rating

What we like:

Two non-cosigned loan options

Fixed APR6.80%13.55%
Variable APR5.87%13.15%
Loan Terms10 or 15 years
Loan Amounts$2,000$200,000
See how Ascent’s private student loan product stacks up with other options

Ascent offers two loans for students who are applying for a student loan without a cosigner. The first loan is the Ascent Non-Cosigned Credit-Based Loan. To qualify for this loan you’ll need to meet credit score and income requirements.

If you can’t meet these requirements, you will then be considered for Ascent’s Non-Cosigned Future Income-Based Loan. To secure this loan, you must be an undergraduate, junior, or senior who is attending school full-time at an eligible school.

You must have at least a 2.9 grade-point average. In addition, you have to be a U.S. citizen or have permanent resident status in the U.S.

The Non-Cosigned Future Income-Based Loan allows you to borrow up to $20,000 per year, while the Non-Cosigned Credit-Based Loan allows you to borrow up to $200,000.


  • Borrowers may choose a repayment term of 10 or 15-year. Furthermore, these loans come with deferred repayment while in school, with payments starting 9 months after leaving school.
  • If you sign up for the automatic payment option, you can get a 0.25% interest rate reduction.
  • You might also get some money back if you qualify for Ascent’s 1% Cash Back Graduation Reward.
  • These loans carry no origination, loan application, or disbursement fees. And you won’t be penalized for paying off your loan early.

Ascent Graduate Student Loans

Ascent Graduate Student Loans

Ascent Logo
on Ascent’s website
Editorial Rating

Ascent Graduate Student Loans

Editorial Rating

What we like:

Five different loans to choose from

Rates (APR)See below
Loan Amounts$1,000$200,000
Repayment Terms10, 15, or 20 years
Compare Ascent’s loans to other graduate student loans.

Ascent offers five different graduate student loans, all of which require a credit check to determine approval. While a credit check is needed, borrowers still have the option of applying without a cosigner if they meet the eligibility requirements.

For a specific breakdown of terms for each of the five Ascent graduate student loans, check out the table below.

Loan PurposeRates (APR)Repayment TermsGrace Period
Business5.71%11.92%10 or 15 years9 months
Medical5.33%11.92%10, 15, or 20 years36 months
Dental5.53%11.92%10, 15, or 20 years12 months
Law5.71%11.92%10 or 15 years9 months
Graduate & Health5.71%11.92%10 or 15 years9 months

Pros and Cons of Ascent Student Loans


  • Easy application process.
  • No fees.
  • Ascent looks at more factors than just your credit score when deciding who is eligible.
  • You might be able to get a student loan without a cosigner.
  • You have the opportunity to earn 1% back upon graduation.


  • Not all schools are eligible.
  • You might be able to get a better interest rate with another private student loan lender.
  • Approval and disbursement time might be longer if you’re applying without a creditworthy cosigner.
  • Loan amounts may be lower if you don’t have a creditworthy cosigner.

Eligibility requirements

Ascent looks at the complete picture of its applicants, considering more criteria than many other student loan providers do.

General requirements

To be eligible, you have to be enrolled at least half-time in an undergraduate or graduate school at an eligible institution and be a U.S. citizen or have permanent resident status here. DACA recipients and U.S. temporary residents are also eligible.

If you aren’t a U.S. citizen or permanent resident, your cosigner must be.

Minimum credit score & other credit requirements

All applicants (including cosigners, if applicable) must not have defaulted on any student loan in the past, have not had a bankruptcy in the past five years. The minimum credit score requirement varies.

Other Factors

The other factors they look at include things like graduation date, the school a borrower is attending, the program they’ve selected, their major, future income potential, and more.

While this information is more detailed than some companies ask for, it lets them eliminate the need for a cosigner if the other data look promising enough.

Approved Schools

To apply for a student loan with Ascent, your school must also be on their approved list of schools which only takes a minute or two to check online.

Application Process

Ascent’s application doesn’t take very long and can be done completely online. You just need to visit Ascent’s website, click “Apply Now,” and provide some basic info about yourself and the degree you’re pursuing.

International students will be required to upload some extra documentation.

When you’re filling out your application, you’re required to complete a financial wellness course to ensure you’re making educated borrowing decisions. This extra step will help students see how their current decisions about borrowing might impact them years later.

Once they complete the module, students must choose whether they want a fixed or variable interest rate, choose their term length, and choose the repayment plan they want. Once approved, the student loan is disbursed directly to their school.

Can You Refinance With Ascent?

Ascent does not offer a refinance loan, so if you decide to find better rates later, you will need to refinance with a different student loan lender. Our guide to the best student loan refinance companies is a great place to start your search.

Alternatives to Ascent Student Loans

Before you agree to take out a loan from Ascent, you should look at other lenders to see if you can score a better interest rate. You can compare the best student loan companies to get a better idea of how Ascent stacks up or bad credit student loan options if you don’t have a good credit score or creditworthy cosigner.

For a head-to-head comparison, check out our Ascent vs Sallie Mae or Ascent vs College Ave comparisons.

Also remember that it’s smarter to look for free money before taking out a private loan.

Maximize your scholarship funds by applying to as many as you can. You should also fill out a Free Application for Federal Student Aid to see if you qualify for any grants or federal student loans, which may have better interest rates and borrower protections.

>> Read More: Find a review from different student loan companies

Ascent is a top-rated lender offering a number of student loans.

  • Loan types: 3 undergrad & 5 graduate loans
  • Cosigner: Not required
  • Loan amounts: Up to $200,000

1 Ascent Student Loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: Rates are effective as of 10/01/2022 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner.  Lowest APRs require interest-only payments, the shortest loan term, and a cosigner, and are only available to our most creditworthy applicants and cosigners with the highest average credit scores.