Overview: Ascent offers undergraduate and graduate private student loans in all 50 states. Borrowers without a co-signer have their own loan option, which is a rarity in the private student loan space. If you don’t have a co-signer, you may be able to qualify for a loan based on your school, graduation date, major and cost of attendance. The lender also offers a longer-than-average period of forbearance, which is a hardship program that allows you to temporarily stop making payments. Check your personalized rates from Ascent today.
- Loan option based on future income instead of credit score.
- Forbearance of up to 24 months over the life of the loan.
- Grace period of nine to 36 months, depending on degree type.
What to watch out for:
- High rate caps.
- Borrowers without a co-signer must have a GPA of at least 2.9.
- Undisclosed credit requirements for credit-based loans.
Why Ascent is best for students without a co-signer: Ascent is one of the only lenders to give undergraduates the chance to qualify for a student loan based on future income rather than credit score, removing the need for a co-signer.
Impact on student loan borrowers: Student loan borrowers can find a wide range of loan types from Ascent, including co-signed and non-co-signed options, making it easy to find a loan suited to specific needs.
- BANKRATE RATING:
- Fixed: 5.95%–13.02% (with autopay); Variable: 4.05%–11.31% (with autopay)
- LOAN AMOUNTS:
- LOAN TERMS:
- 5 to 20 years
- MIN. CREDIT SCORE:
- Not specified
- ADDITIONAL REQUIREMENTS:
- Borrowers must be a U.S. citizen or have a co-signer who is a U.S. citizen or permanent resident. For some loans, students must be enrolled full time, have at least two years of credit history, have a minimum annual income of $24,000 and maintain a GPA of at least 2.9.