4/16/2024 0 Comments Student loan payment calculatorCosigned Credit-Based Loan student must meet certain minimum credit criteria. 1% Cash Back Graduation Reward subject to terms and conditions. For Ascent rates and repayment examples please visit: /Rates. 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if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month.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 Terms and Conditions please visit: Rates are effective as of and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Certain restrictions, limitations and terms and conditions may apply. Loan products may not be available in certain jurisdictions. ***Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Minimum loan amount for borrowers with a Massachusetts permanent address is $6,001. **The minimum amount is $2,001 except for the state of Massachusetts. Only four rounds of forbearance (up to 12 months’ worth) may be taken consecutively.Ĭo-signer release policy: Available after 12 months of consecutive automatic debit payments, if the primary borrower meets certain credit score requirements.*** Co-signers must have a minimum credit score which can vary.***įorbearance options: When experiencing financial hardship, borrowers can suspend payments for up to three months at a time, for a total of up to 24 months throughout the loan term. Co-signers must show income of at least $24,000 for the current and previous year. Loan amounts available: $2,001** up to total cost of attendance, to a maximum of $200,000 per academic year ($200,000 aggregate)Įligibility: Student borrowers with no credit history can qualify with a creditworthy co-signer. Interest continues to accrue during forbearance, which is true for the vast majority of private student loans.Īscent also offers benefits for students including 1:1 free success coaching*, a graduation reward of 1% of the loan’s original principal balance and access to monthly no-essay scholarships.Īscent was a winner of Forbes Advisor’s best private student loans of 2021 awards. However, taking this forbearance means you will repay the loan over a longer period. That can be useful for graduates just starting out, who will likely make more money as they move up in their careers.īorrowers also can pause payments if they’re experiencing a temporary financial hardship for one to three months at a time, up to a maximum of 24 months total. Borrowers can choose a graduated repayment plan, which provides a lower monthly payment to start that increases over time. We scored the company based on its co-signed credit-based student loan for undergraduates.Īscent stands out for its range of payment reduction and postponement options, rare among private student loan companies. Ascent offers both co-signed and non-co-signed student loans, which gives borrowers without co-signers more college funding options.
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