Why now, what it means, and how it aligns with our mission. 

At a time when education costs are rising and student debt continues to dominate national conversations, Ascent has lowered interest rates for undergraduate student loans for a limited time. Fixed rates now start as low as 2.89% Annual Percentage Rate (APR)*, down from 3.09% APR, for eligible borrowers. 

This isn’t just a pricing update. It’s a strategic move rooted in our mission: to reduce financial barriers to education, support stronger borrower outcomes, and deliver long-term value to students and their families. 

Inside Ascent’s Latest Rate Drop 

As of August 5, 2025, Ascent offers low fixed rates available for private undergraduate student loans, starting at just 2.89% APR*. This limited-time offer is designed to help ease the financial burden on students and families amid rising education costs. 

To put this rate reduction into perspective, a $10,000 loan at 2.89% APR on a 5-year repayment plan—meaning fixed monthly payments of $179.20 over 60 months—would cost roughly $10,752.23 in total*. Compared to loans with higher interest rates, that could mean hundreds or even thousands of dollars saved over the life of the loan. 

Even beyond the numbers, it’s the experience of our borrowers that truly illustrates the difference. Norelle, who recently chose Ascent, shared how our competitive rates and straightforward process made a difference for her: 

“Loan options and interest rates are competitive, and the process was transparent and easy.” 

For another borrower, Samantha, the value went deeper than just rates:

 “It feels like you actually care about me and my goals beyond just a number on a page.” 

These voices remind us that lowering rates isn’t just a financial decision — it’s about removing barriers and empowering real students to move confidently toward their futures. 

Why is Ascent Dropping Rates Now?  

Today’s students are navigating rising tuition, shifts in federal aid, and increasing financial stress. We lowered our rates now to reduce the cost of borrowing at a time when it matters most. 

Here’s what drove the decision: 

• We Listen to Students: Recent surveys found that over 70% of college students feel stressed about their personal finances, and nearly 60% worry they may not have enough money to pay for school. We want to be part of the solution, not the stress. 

• We Took a Different Path: While many lenders are raising or holding interest rates due to economic uncertainty, we are determined to take a different approach take a different approach—one grounded in accessibility and long-term impact. 

• We Stay Grounded in Our Mission: Our role goes beyond traditional lending. We’re focused on helping students plan, pay, and succeed academically, financially, and professionally. That means building tools, rates, and resources that work in the real world and reflect what students actually need. 

“By lowering our rates, we’re helping reduce the financial barriers that stand between students and the opportunities they deserve—not just access to education, but a real chance at durable economic mobility,” said Ken Ruggiero, CEO of Ascent.  

Mission Meets Market 

Lowering rates isn’t just a pricing decision, it’s a mission decision. 

At Ascent, we’re building a different kind of student lending model—one focused on outcomes, not just loan origination volume. That means helping students graduate with less debt, build credit, and boost their long-term earning potential. 

We’re not just funding tuition. Through student-friendly features such as an autopay discount,  as well as financial education, and tools like AscentUP**, we’re investing in futures. 

“We built Ascent to make a real difference in students’ lives,” added Ruggiero. “Helping learners become earners is our commitment. And for many, that starts with an affordable rate.” 

Does Ascent Anticipate Another Rate Drop? Why or Why Not?  

While we can’t predict exact changes in the market, Ascent commits to remaining agile and student-focused in our approach. Future changes will be guided by the same principles that drove this one: respond to what students need, stay disciplined in our pricing, and continue evolving our products to meet the moment. 

Looking Ahead 

Lowering our rates is one way Ascent is expanding access to education and helping students succeed in school and beyond. Backed by best-in-class teams and technology, we’re constantly improving our financial products and support services to empower students to plan, pay, and thrive. 

This update to rates, along with flexible repayment options, financial wellness tools, and career resources through AscentUP, reflects our commitment to delivering more than just funding. We’re focused on outcomes—academic, personal, and economic—that last well beyond graduation. 

About Ascent 

Ascent is a mission-driven fintech company committed to redefining student lending through a focus on access, affordability, and lasting economic impact. Backed by institutional capital, we offer innovative loan options for college and career training programs—helping more students qualify, with or without a cosigner. 

But funding is just the start. From career readiness tools to financial wellness resources to over $330,000 in no-essay scholarships, everything we build is designed to turn education into real opportunity. 

Learn more about how we’re working to increase student income by $10 billion by 2028 in our Impact Report. 

* ⁼Annual Percentage Rates (APRs) displayed above are effective as of 08/06/2025 and reflect an Automatic Payment Discount of 0.25% on credit-based college student loans submitted prior to 06/01/2025, a 0.5% discount on credit-based college student loans submitted on or after 06/01/2025, and a 1.00% discount on outcomes-based college student loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation. 

** Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.