Ascent Private Student Loans: 2026 Review
Ascent offers private student loans for undergraduate, graduate and parent needs. It also has a unique outcomes-based loan for students who don't have a co-signer or established credit.
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Student loan ratings
Ascent student loans have no fees and offer generous rate discounts that vary by loan type when you make automatic payments. Ascent also provides more options than many lenders for faster repayment.
Ascent Undergraduate Student Loan review
Pros
- Provides options for students with and without a co-signer.
- Offers a 0.50-percentage-point rate discount with automatic payments.
- Allows borrowers to pre-qualify with a soft credit check.
- No application, origination, prepayment or late fees.
- Borrowers receive access to AscentUP, a platform to help students build school and career-ready skills.
Cons
- Loans not available to students enrolled less than half-time.
- No co-signer release for international students.
Best for students with a creditworthy co-signer.
Full Ascent student loans review
Ascent stands out for its flexibility in working with student borrowers, even when they don’t have a credit history or co-signer. Ascent’s traditional loan is based on credit factors, and it may or may not require a co-signer. An additional outcomes-based loan is for borrowers with no credit history, income or co-signer.
The outcomes-based loan looks beyond traditional credit scoring factors and is available only to college juniors and seniors with at least a 3.0 GPA. This loan has a $20,000 annual maximum. Its intent is to support students who are performing well academically and within reach of completing their degree.
Along with financing undergraduate degrees, Ascent offers loans for graduate students and parents. Its loans may also cover some four-year or nursing degree programs at community colleges. Deferred Action for Childhood Arrivals (DACA) students can apply for Ascent loans whether or not they have a co-signer. International students must have a co-signer who is a U.S. citizen or permanent resident.
In our scoring of private student loan lenders, Ascent consistently comes out at the top. That’s because Ascent goes beyond just making loans. It offers features to help borrowers pay off loans faster and reduce interest expenses, such as weekly, bi-weekly and greater-than-minimum automatic payments for most products. It also excels at customer experience, with a dedicated advisor assigned to assist borrowers.
More about Ascent student loans
Loan and borrower requirements
Loan terms: 5, 7, 10, 12, 15 or 20-year repayment terms available. The outcomes-based loan terms are 10 or 15 years.
Loan amounts: $2,001 minimum to $200,000 for undergraduate loans; $2,001 to $400,000 for graduate loans.
Minimum credit score: Does not disclose.
Minimum income: No minimum for borrowers with a co-signer. Co-signer minimum is $30,000 annually. Borrowers without a co-signer and at least two years of credit history must earn at least $30,000 and meet debt-to-income (DTI) requirements. Minimum for a parent loan is $40,000.
Maximum debt-to-income (DTI) ratio: None for credit-based, co-signed loans; DTI requirements possible for non-cosigned loans, but a maximum wasn’t provided.
Time requirement after filing for bankruptcy: Applicants can qualify five years after filing for bankruptcy.
Co-signer: Allows but does not require a co-signer. Approximately 77% of approved borrowers have a co-signer. Co-signer release is available after 12 months.
Payment and repayment
Allows greater-than-minimum payments via autopay: Yes.
Allows biweekly payments via autopay: Yes.
Grace period following graduation: 9 months.
In-school repayment options: Full payment; monthly partial payment of $25; interest-only payment; and fully deferred. Parent loans offer only full and interest-only payments.
Post-school repayment options:
Graduated repayment
Internship deferment
Residency deferment
Administrative forbearance
Natural disaster forbearance
Fellowship deferment
Military deferment
Customer experience
Customer service: Has in-house customer service and a dedicated advisor assigned to applicants. Also has someone committed to handling customer concerns.
Time for application approval: Immediately for completed applications for which all credit and income information is available.
Loan servicer: Launch Servicing.
Ascent extras
Cash-back reward: Borrowers are eligible for a 1% cash-back graduation reward applied to their loan principal for up to $50,000 upon meeting certain terms and conditions. (Does not apply to the parent loan.)
Ascent Rewards program: Borrowers can lower their loan balance with cash-back rewards through purchases at over 10,000 participating merchants.
Refer a Friend program: Borrowers and those they refer to Ascent can earn a $250 Amazon gift card. Both receive the card once the loan is funded and disbursed.
AscentUP career and internship support: Free access to career readiness tools, financial wellness education and potential paid internship opportunities.
Scholarship giveaways: Ascent offers scholarships for high school, college or bootcamp students. Parents are eligible, too. Ascent has awarded over $355,000 in scholarships to date.
Lender | Fixed APR | Min. credit score | Variable APR | |
|---|---|---|---|---|
 Check Rate on Sallie Mae's website | 2.89-17.49% | Mid-600s | 3.62-16.25% | Check Rate on Sallie Mae's website |
 Check Rate on College Ave's website | 2.59-17.99% | Mid-600s | 3.89-17.99% | Check Rate on College Ave's website |
Check Rate on Ascent's website | 2.69-16.86% | Low-Mid 600s | 3.65-16.06% | Check Rate on Ascent's website |
Best for faster repayment options  Check Rate on Monogram's website | 3.35-17.17% | 600 | 3.53-17.23% | Check Rate on Monogram's website |
 Check Rate on ELFI's website | 2.99-12.85% | 680 | 6.75-13.05% | Check Rate on ELFI's website |
Ascent Outcomes-Based Student Loan review
Pros
- Option for students nearing graduation and not eligible for a credit-based loan.
- Offers a 1-percentage-point rate discount with automatic payments.
- No application, origination, prepayment or late fees.
- Available for students with Deferred Action for Childhood Arrivals (DACA) status.
- Borrowers receive access to AscentUP, a platform to help students build school and career-ready skills.
Cons
- Available only for college juniors and seniors.
- Offers only fully-deferred repayment option.
- Not available to international students.
Best for independent students with strong credit or upperclassmen with good grades.
Ascent’s outcomes-based student loan is designed specifically for juniors and seniors with a 3.0 GPA or higher, who don’t have established credit or a co-signer. Ascent also offers a non-cosigned credit-based loan, which requires borrowers to have two or more years of credit history and meet other credit standards.
Ascent Graduate and Health Professions Student Loan review
Pros
- Offers a 0.25-percentage-point rate discount with automatic payments for graduate loans.
- Allows borrowers to pre-qualify with a soft credit check.
- No application, origination, prepayment or late fees.
- 36-month grace period for medical and veterinary degrees.
- Progressive Repayment plan an option upon exiting grace period.
Cons
- Must be enrolled at least half-time.
Best for graduate students who want flexible payment options.
Ascent offers these graduate school loans
Medical | Pharmacy |
Dental | Nursing |
Veterinary | MBA |
Law |
Ascent Parent Loan review
Pros
- Less than half-time enrollment accepted for parent loan.
- Offers a 0.50-percentage-point rate discount with automatic payments.
- Allows borrowers to pre-qualify with a soft credit check.
- No application, origination, prepayment or late fees.
Cons
- Interest rate tends to be slightly higher than some other providers of parent loans.
Best for parents who want to support a student who is not enrolled in school at least half-time.
Before applying for an Ascent student loan
Before taking out an Ascent student loan or any other private student loan, exhaust your federal student loan options first. Submit the Free Application for Federal Student Aid, known as the FAFSA, to apply.
» MORE: NerdWallet’s FAFSA Guide
Compare your private student loan options to make sure you’re getting the best rate you qualify for. In addition to interest rates, look at lenders’ repayment alternatives and the flexibility they offer to borrowers who struggle to make payments. Make sure the options fit your needs and expectations.
If you aren't eligible for an Ascent student loan
If Ascent denies your student loan application, the lender will let you know why. Depending on the reason, you may want to consider other lenders or, if you haven’t already, try applying with a co-signer.
If you don’t have access to a co-signer — or still aren’t eligible with one — consider lenders that don’t require co-signers or specialize in bad or no credit student loans.
Frequently asked questions
Is Ascent good for student loans?
Ascent consistently rates high in NerdWallet’s comparison of lenders for private student loans, mainly because of its flexibility that enables borrowers to pay off loans sooner and reduce interest costs. It also has a strong student-centric focus that supports students in their school and career journey.
Should I apply for an Ascent student loan with or without a co-signer?
When you apply to any lender that allows co-signers, having a co-signer can improve your chances of approval and help you qualify for a lower interest rate. On the other hand, a co-signer is equally responsible for repaying your loan, and it shows on their credit reports. If you’re able to qualify on your own, you eliminate the credit risk to a co-signer.
Ascent says approximately 77% of its approved borrowers use a co-signer, which is lower than many other private student loan providers. This may indicate that Ascent offers borrowers more opportunity for non-co-signed loans.