- Overview of Ascent Student Loans: Ascent Funding is a private student loan originator based in San Diego, offering flexible loans aimed at borrowers who can't qualify through traditional credit checks, since 2016, helping over 168,000 students.
- Unique Loan Options for Borrowers Without Co-signers: Ascent stands out for providing two distinct non-cosigned undergraduate loan options—credit-based and outcomes-based—making it accessible for students without family support or strong credit history.
- Competitive Rates and Flexible Repayment Terms: Ascent offers low fixed APRs starting at 2.69% for cosigned loans and a variety of repayment plans, including a 9-month grace period and five in-school payment options, along with a 1% cash-back reward.
- Cost and Fees of Ascent Loans: Ascent's college loans have no application, origination, disbursement, late, NSF, or prepayment fees, but career training loans incur a 5% origination fee, and rates for outcomes-based loans tend to be higher.
- Who Should Consider Ascent Loans?: Ascent is ideal for juniors/seniors without co-signers, DACA and international students with a U.S. co-signer, and students needing funding for career training or trade schools, especially those seeking maximum repayment flexibility.
Ascent Student Loans Overview
Ascent Funding, LLC is a private student loan originator headquartered in San Diego, California, and a subsidiary of Goal Structured Solutions, Inc. (GS2), a company that has been in the education finance business for over a decade. Launched in 2016, Ascent has built its market position around a distinctive value proposition: expanding access to private student loans for borrowers who cannot qualify through traditional credit-based underwriting. Over 168,000 borrowers have used an Ascent loan to pay for college or career training since January 2018.
Ascent’s loans are funded by Bank of Lake Mills and DR Bank (since July 2023), both FDIC-insured institutions, and serviced by Launch Servicing. Unlike SoFi or Sallie Mae, Ascent operates as a loan processor rather than a bank, which means it does not hold loans on its own balance sheet. The company offers four distinct undergraduate loan products: a cosigned credit-based loan, a non-cosigned credit-based loan (for borrowers with 2+ years of credit history and $30,000+ income), a non-cosigned outcomes-based loan (for juniors and seniors evaluated on school, major, GPA, and future earnings potential rather than credit), and a parent loan. Graduate loan products cover MBA, law, medical, dental, health professions, and PhD/master’s programs.
For this review, we evaluated Ascent’s undergraduate and graduate loan products across our six-category scoring framework. Ascent earns high marks for its unmatched flexibility in serving borrowers without a co-signer, its competitive cosigned rate floor, its 9-month grace period, and its five in-school repayment options. Its primary weaknesses are higher rates for outcomes-based loans, a 5% origination fee on career training loans, a BBB rating of B (lower than most competitors), and the lack of a refinancing product. Borrowers should, as always, exhaust federal loan options before considering any private student loan.
Pros and Cons of Ascent Student Loans
Pros
- Non-cosigned loan options for undergraduates. Ascent is the only major private lender offering two distinct paths for undergraduates who cannot provide a co-signer: a credit-based option (requiring 2+ years of credit history, $30,000+ income, and an undisclosed credit score) and an outcomes-based option (requiring only junior/senior status, a 3.0+ GPA, and enrollment at an eligible school). No other major lender matches this breadth of non-cosigned access.
- Very competitive cosigned rate floor. Fixed APRs start at 2.69% with the autopay discount (effective as of February 2026), which is among the lowest in the private student loan market. The autopay discount for loans submitted after June 1, 2025, is 0.50% for credit-based college loans and 1.00% for outcomes-based loans, more generous than the standard 0.25% at most competitors.
- Nine-month grace period. Ascent offers a 9-month post-graduation grace period, three months longer than the industry-standard six months. This gives graduates additional time to find employment and stabilize their finances before repayment begins. Outcomes-based loans may offer grace periods of up to 36 months, depending on the loan type.
- Five in-school repayment options. Borrowers can choose deferred payments, a flat $25/month, interest-only, immediate full principal and interest, or progressive repayment (graduated payments that start lower and increase over time). The progressive option is unique to Ascent among major lenders.
- 1% cash-back graduation reward. Eligible borrowers can earn a 1% cash-back reward on their principal balance (up to $50,000) upon graduating within five years of their first Ascent loan. This reward is in addition to the autopay discount and is unique among major private student lenders.
- DACA and international student access. DACA students can apply with or without a co-signer. International students with a creditworthy U.S. citizen or permanent resident co-signer are also eligible, expanding access to segments many lenders exclude.
- Career training and trade school coverage. Ascent offers loans for approved bootcamps, career training, and trade school programs in addition to traditional degree programs, serving a segment that most fintechs (SoFi, Earnest) do not.
- Zero fees on college loans. No application, origination, disbursement, late, NSF, or prepayment fees on college student loans. Only career training loans carry a 5.0% origination fee.
Cons
- High rates for outcomes-based loans. Non-cosigned outcomes-based loans carry significantly higher APRs than credit-based options, often in the double-digit range. The 1.00% outcomes-based autopay discount partially offsets this, but borrowers without credit will still pay substantially more.
- 5% origination fee on career training loans. While college loans carry zero fees, career training and bootcamp loans are subject to a one-time 5.0% origination fee, which meaningfully increases the effective cost of borrowing for trade school and bootcamp students.
- No refinancing product. Ascent does not offer student loan refinancing. Borrowers who want to lower their rate or consolidate after graduation must go to a different lender like SoFi, Earnest, or Citizens.
- Non-cosigned options are restricted to juniors and seniors. Freshmen and sophomores without a cosigner or established credit cannot qualify for Ascent’s non-cosigned products. They must apply with a co-signer or seek another lender.
- BBB rating of B. Lower than most competitors in this review series (Sallie Mae, SoFi, Earnest, and College Ave all hold A+). While complaint volume is low (17 CFPB in 2024), the lower rating reflects a shorter track record.
- Higher minimum loan amount. Ascent’s minimum loan is $2,001 ($6,001 for Massachusetts residents), compared to $1,000 at most competitors.
Ascent
Ascent earns a 3.5 out of 5.0 and is the only major lender offering a dedicated outcomes-based (non-cosigner) loan product for qualifying college juniors and seniors. The outcomes-based loan underwrites on GPA, major, graduation date, and school rather than credit history, filling a critical gap for students who lack family support or a creditworthy co-signer. No other lender at this scale provides this option.
The outcomes-based product comes with a 1.00% autopay discount, quadruple the standard 0.25%, which is the highest autopay discount in the market. Zero late fees, zero origination fees, and loan amounts up to $200,000 on credit-based products round out the borrower-friendly fee structure. Co-signer release on credit-based loans is available after 24 months. Ascent also accepts DACA recipients with a co-signer.
The trade-off is cost. Outcomes-based loan rates are higher than co-signed products because the lender assumes more risk. The credit-based rate ceiling of 16.99% is among the highest in the market. And the outcomes-based product is only available to juniors and seniors at eligible schools, not freshmen or sophomores. For borrowers who can find a co-signer, Abe, College Ave, or Earnest will offer better rates. But for students who genuinely cannot co-sign, Ascent is the best option available.
- Fixed APR: 4.49% – 16.99% | Variable APR: 5.29% – 16.49%
- Outcomes-based loan for juniors/seniors: no co-signer or credit history required
- 1.00% autopay discount on outcomes-based loans, the highest in the market
- Zero late fees, no origination fee, no prepayment penalty
- Loan amounts up to $200,000 on credit-based products
Ascent Rates and Fees
Ascent’s cosigned undergraduate loans offer fixed APRs starting at 2.69% and variable APRs starting at 3.72%, both inclusive of the autopay discount. APRs are effective as of February 5, 2026. The autopay discount is 0.25% for credit-based college loans submitted before June 1, 2025, and 0.50% for those submitted on or after that date. Outcomes-based loans receive a 1.00% autopay discount. These are among the most generous autopay reductions in the market.
Non-cosigned credit-based undergraduate loans carry higher rates, with fixed APRs ranging from approximately 7.92% to 14.06% and variable APRs from 7.31% to 13.23%. Non-cosigned outcomes-based loans have the highest rates, reflecting the additional risk of underwriting without credit history. Graduate loan rates fall between cosigned and non-cosigned undergraduate rates, with cosigned fixed APRs from approximately 3.49% to 15.46%. Variable rates are tied to the 30-day SOFR index.
Ascent charges zero fees on college student loans: no application fee, no origination fee, no disbursement fee, no late fee, no NSF fee, and no prepayment penalty. Career training loans are the exception: they carry a one-time origination fee of 5.0% of the loan amount, which is deducted from the disbursed funds. Additional rate discounts include a $400 referral bonus and the 1% cash-back graduation reward for eligible borrowers who complete their degree within five years.
Sample Cost Comparison: $30,000 Ascent Cosigned Loan
Scenario | Monthly Payment | Total Interest | Total Cost |
Fixed 6.0%, 10-yr | $333 | $9,967 | $39,967 |
Fixed 6.0%, 15-yr | $253 | $15,563 | $45,563 |
Fixed 10.0%, 10-yr | $397 | $17,583 | $47,583 |
Fixed 10.0%, 15-yr | $322 | $27,985 | $57,985 |
Variable 5.5%, 10-yr* | $326 | $9,076 | $39,076 |
Variable 5.5%, 15-yr* | $245 | $14,134 | $44,134 |
*Variable rate scenarios assume the starting rate remains constant for illustration. Actual payments will fluctuate with index rate changes.
Ascent In-School Repayment and Loan Terms
Ascent offers up to five in-school repayment options, depending on the loan type, more than any other major private student lender. The deferred repayment option requires no payments during school and the 9-month grace period; interest capitalizes at the grace period end. The fixed $25/month option reduces interest capitalization. The interest-only option prevents capitalization entirely. The immediate repayment option begins full principal and interest payments at disbursement, minimizing total cost. The progressive repayment option (for graduates and borrowers enrolled less than half-time who took out loans after May 17, 2019) starts with reduced payments that gradually increase over time.
Loan amounts range from $2,001 to $200,000 aggregate for undergraduate borrowers and $2,001 to $400,000 for graduate borrowers. Outcomes-based loans have a $20,000 annual limit and a $200,000 aggregate cap. Repayment terms are available in six lengths: 5, 7, 10, 12, 15, or 20 years. The 20-year term is available only with a variable rate. Ascent covers up to 100% of the school-certified cost of attendance.
Ascent offers deferment for in-school enrollment, residency/internship (up to 48 months in 12-month increments), fellowship (up to 48 months), active-duty military service (up to 36 months cumulative), and disability rehabilitation. Hardship forbearance is available for up to 24 months, which is longer than the 12-month standard at most competitors. Natural disaster forbearance of up to three months is also available. The loan is forgiven if the borrower dies or becomes totally and permanently disabled.
Ascent Co-signer Policies
Ascent’s co-signer policies are among the most borrower-friendly in the industry. For cosigned credit-based loans, co-signer release is available after the borrower makes 12 consecutive, regularly scheduled full principal and interest payments on time and meets the eligibility criteria to qualify for the loan without a co-signer. This 12-month timeline matches SoFi and Sallie Mae for the fastest co-signer release among major lenders.
The co-signer release option is only available to student borrowers who are U.S. citizens or permanent residents; it is not available to international students. The student borrower must make the release request directly with Launch Servicing or the loan holder. Co-signers are equally responsible for repayment, and the loan appears on their credit report. The loan is forgiven if the primary borrower (not the co-signer) dies or becomes totally and permanently disabled.
For borrowers who cannot or do not want to provide a cosigner, Ascent’s non-cosigned options are the primary alternative. The credit-based non-cosigned loan requires at least two years of credit history, a minimum income of $30,000, and an undisclosed minimum credit score. The outcomes-based non-cosigned loan evaluates school, major, GPA (3.0+), and expected graduation date rather than credit history, making it accessible to students with no credit at all.
Ascent Eligibility and Application Process
Ascent serves a broader range of borrowers than most competitors. U.S. citizens, permanent residents, and DACA recipients can apply with or without a co-signer. International students can apply with a creditworthy U.S. citizen or permanent resident co-signer. Borrowers must be enrolled at least half-time at one of Ascent’s 2,200+ eligible institutions, which include Title IV degree-granting schools, career training programs, bootcamps, and trade schools. For outcomes-based loans, students must be juniors or seniors enrolled full-time or half-time within nine months of graduation.
Ascent does not disclose a minimum credit score, but the average FICO at approval was 678 in 2023-2024, lower than the 752 average at Sallie Mae and 766 at SoFi. Non-cosigned credit-based borrowers must have at least two years of credit history and $30,000+ minimum annual income. Co-signers must also show $24,000+ minimum annual income. All applicants must complete a free online financial wellness training as part of the application process, a requirement unique to Ascent.
The application is fully digital, and Ascent offers soft-pull prequalification, allowing borrowers to see estimated rates within minutes without a hard credit inquiry. After prequalification, the full application requires a hard credit check. Once approved, the borrower selects loan terms, completes any open tasks in the Ascent portal, and the loan is sent to the school for certification.
Ascent Funding Speed and Disbursement
Ascent’s prequalification process takes approximately three minutes and returns rate estimates without a hard credit inquiry. After completing the full application and receiving approval, Ascent sends the loan to the school for certification. The school certification timeline varies by institution and time of year. The total process from application to disbursement typically takes one to several weeks, depending heavily on the school’s processing speed.
Funds are disbursed directly to the school. Any excess above direct charges is handled according to the school’s normal refund process. Interest begins accruing when funds are disbursed. Borrowers should apply at least three to four weeks before tuition is due to account for certification and processing delays, particularly during peak enrollment periods.
Ascent Customer Experience
Ascent’s customer experience is characterized by strong borrower satisfaction scores but a relatively small review footprint. Trustpilot shows a 4.6 out of 5.0 rating based on approximately 135 reviews, placing Ascent in the “Excellent” category. The company’s internal NPS data shows a 4.8 out of 5.0 based on over 9,359 borrower reviews. Common praise focuses on the simplicity and speed of the application process, helpful customer service, and the accessibility of loans for students without co-signers.
The CFPB received 17 student loan-related complaints about Ascent’s parent company (Goal Structured Solutions) in 2024, a very low number. The most common complaint categories were issues with getting a loan and dealing with the lender/servicer. All complaints were closed in a timely manner. Customer support is available by phone (877-216-0876), email, and chat during business hours (Monday through Friday, 7:00 a.m. to 5:00 p.m. PST). The team is 100% U.S.-based.
Ascent offers the AscentUP professional development platform, which provides financial wellness coaching, career resources, and paid remote internship opportunities. The company also offers monthly Shining Stars Scholarship giveaways. These support services go beyond what most private student lenders provide, particularly for borrowers early in their academic and professional careers.
Ascent Financial Strength and Reputation
Ascent Funding is a privately held subsidiary of Goal Structured Solutions, Inc. (GS2). The company does not publicly report financial results. Ascent’s loans are funded by Bank of Lake Mills and DR Bank, both FDIC-insured institutions. The company’s investors include Learn Capital, Goal Investment Group, and Stand Together Ventures Lab. Ascent does not hold loans on its own balance sheet; it operates as a loan processor and marketer, with the funding banks taking the credit risk.
The BBB assigns Ascent Funding LLC a B rating, which is lower than most competitors in this review series. The company has 44 BBB complaints over the past three years. Ascent has not faced regulatory enforcement actions or significant legal challenges. As a newer entrant (2016) without a bank charter or public financial disclosures, Ascent carries less institutional credibility than established players, but its track record is clean.
Who Is Ascent Best For?
Good Fit
- Juniors and seniors without a co-signer who need a non-cosigned option via outcomes-based underwriting (3.0+ GPA, eligible school/major) or credit-based non-cosigned loan ($30,000+ income, 2+ years credit history).
- DACA recipients and international students (with a U.S. co-signer) face limited options from other major private lenders.
- Career training, bootcamp, and trade school students who need financing beyond what SoFi and Earnest offer (though the 5% origination fee is a high cost).
- Borrowers seeking maximum repayment flexibility, including the progressive repayment option and up to 20-year terms.
- Families with a strong cosigner are seeking the lowest rate floor, since Ascent’s cosigned 2.69% fixed APR is among the lowest in the market.
Not the Best Fit
- Freshmen and sophomores without a co-signer. Ascent’s non-cosigned options are restricted to juniors and seniors. Funding U is a better alternative for this segment.
- Borrowers who want to refinance with the same lender. Ascent does not offer refinancing. SoFi, Earnest, or Citizens are better for single-lender relationships.
- Risk-averse families who prioritize institutional reputation. Ascent’s BBB B rating and private status may concern families compared to Sallie Mae or SoFi.
- Borrowers needing a small supplemental loan under $2,001. Most competitors offer $1,000 minimums.
How to Apply for an Ascent Student Loan
- Exhaust federal options first. Complete the FAFSA and accept all federal aid before considering private loans.
- Visit ascentfunding.com and select your loan type. Choose from cosigned, non-cosigned, parent, graduate, or career training loans.
- Check your rate with soft-pull prequalification. See estimated rates in about three minutes without a hard credit inquiry.
- Complete the required financial wellness training. All Ascent applicants must complete a free online financial literacy module.
- Complete the full application. Select loan amount, rate type, repayment term, and in-school payment option. This triggers a hard credit pull.
- Complete open tasks in the Ascent portal. Upload documentation and finalize loan details.
- School certification and disbursement. Ascent sends the loan to your school for certification. After certification, funds go directly to the school.
How Ascent Compares
Feature | Ascent (Cosigned) | SoFi |
Fixed APR (w/ autopay) | 2.69% – 15.62% | 3.43% – 15.99% |
Variable APR (w/ autopay) | 3.72% – 15.26% | 4.64% – 15.99% |
Origination Fee | None (college); 5% (career) | None |
Late Fee | None | None |
Loan Amounts | $2K – $200K (UG); $400K (grad) | $1K – COA |
Repayment Terms | 5, 7, 10, 12, 15, or 20 years | 5, 7, 10, or 15 years |
Co-signer Release | 12 months | 12 months (post-May 2019) |
Non-Cosigned Option | Yes (juniors/seniors) | Yes (high credit bar) |
In-School Options | 5 (incl. progressive) | 4 (defer, $25, interest, full) |
Grace Period | 9 months | 6 months |
Career/Trade School | Yes (with 5% fee) | No |
Refinancing Available | No | Yes |
GPA-Based Benefit | 1% graduation reward | $250/term cash bonus |
Trustpilot Score | 4.6 / 5.0 | 4.2 / 5.0 |
Final Verdict on Ascent Student Loans
Ascent earns a 3.5 out of 5.0 in our scoring framework, placing it in the upper-middle tier of private student lenders. Its primary distinction is clear: Ascent is the best option in the market for undergraduate students who cannot provide a co-signer. The outcomes-based loan product is unique, evaluating students on their academic trajectory and future earnings potential rather than credit history. Combined with a competitive cosigned rate floor (2.69% fixed), a 9-month grace period, five in-school repayment options, zero fees on college loans, and DACA/international student coverage, Ascent offers real value for borrowers who are underserved by traditional lenders.
The tradeoffs are meaningful. Outcomes-based loan rates are substantially higher than credit-based options, and the $20,000 annual limit may not cover the full cost of attendance. The 5% origination fee on career training loans adds a high cost for trade school borrowers. The lack of a refinancing product means borrowers must switch lenders post-graduation to improve their terms. And Ascent’s institutional profile, as a privately held subsidiary with a BBB B rating and no public financial disclosures, carries less credibility than established bank-chartered competitors.
Before applying for any private student loan, including Ascent, borrowers should exhaust all federal student loan options. Federal Direct Subsidized and Unsubsidized Loans carry fixed rates set by Congress (currently 6.39% for undergraduates and 7.94% for graduates in the 2025-2026 academic year), offer income-driven repayment plans, and provide access to Public Service Loan Forgiveness and other protections that no private lender matches. Private loans should fill the gap after federal aid, savings, grants, and scholarships have been maximized.
Methodology
This review scores Ascent across six weighted categories: Rates & Fees (25%), Loan Terms & Repayment Flexibility (20%), Eligibility & Accessibility (20%), Speed & Application Process (15%), Customer Experience (10%), and Transparency & Reputation (10%). Data was sourced from Ascent’s website, the CFPB Consumer Complaint Database, BBB, Trustpilot profiles, and lender disclosures.
Frequently asked questions
Answers to your questions about Ascent student loans.
Ascent does not publish a minimum credit score. The average FICO at approval was 678 in 2023-2024. For non-cosigned credit-based loans, you need at least two years of credit history and $30,000+ annual income. Outcomes-based loans have no credit or income requirement but require junior/senior status and a 3.0+ GPA.
Yes. Ascent offers two non-cosigned options for undergraduates: a credit-based loan (requiring 2+ years of credit history, $30,000+ income) and an outcomes-based loan (requiring junior/senior status, 3.0+ GPA, and an eligible school). If you don’t meet credit-based criteria, you are automatically evaluated for the outcomes-based option.
The outcomes-based loan evaluates students on their school, major, GPA, degree program, and expected graduation date rather than credit history. It is available to juniors and seniors at eligible schools. There is no minimum credit score or income requirement. The annual loan limit is $20,000, and the aggregate limit is $200,000. Rates are higher than credit-based options.
College student loans carry zero fees. Career training loans carry a 5.0% origination fee deducted from disbursed funds.
Eligible borrowers earn 1% cash back on their principal balance (up to $50,000) when they graduate within five years of their first Ascent loan. You must enroll in autopay and provide proof of graduation.
Yes. After 12 consecutive on-time full principal and interest payments and meeting eligibility criteria, you can apply for co-signer release through Launch Servicing. Only available to U.S. citizens or permanent residents.
DACA students can apply with or without a co-signer. International students can apply with a creditworthy U.S. citizen or permanent resident co-signer. International students are not eligible for non-cosigned loans.
Not with Ascent. You can refinance through SoFi, Earnest, or Citizens. Refinancing replaces your current loan with a new one and may change your rate, term, and protections.
