For College Students Archives

Why Your FICO ® Score Matters to Lenders
If you’re applying for student loans, credit cards, or other financial tools for the first time, you’ve probably heard the term FICO® Score. But what does it actually mean, and why does it matter so much when you’re paying for school?

February 26, 2026 | By: Ascent
How to Improve Your Private Student Loan Application: 7 Essential Tips
Applying for a private student loan can feel overwhelming, especially if it’s your first time dealing with things like credit, interest rates, and loan paperwork. You might be wondering how approval works, what lenders look for, or how you can improve your chances of getting approved. The good news is that there are simple, practical steps you can take to make your application stronger from the start! Whether you’re applying on your own or with a cosigner, preparing ahead of time can help you find better options and feel more confident in the process. Here are seven essential tips to help you improve your private student loan application and set yourself up for success. 1. Check Your Credit Before You Apply Your credit history plays an important role in many private student loan applications. Before you apply, take time to review your credit report and FICO® Score so you know where you stand. Many banks and credit card companies offer free access to your score, and you can also request your credit report through Experian, Equifax, or TransUnion. Reviewing your credit early helps you understand what’s affecting your score and where you can improve. If you’re just starting out, focus on making every payment on time, keeping credit card balances low, and avoiding maxing out your limit. Small habits like setting up autopay or paying more than the minimum when you can, can build strong credit over time and make the process feel more manageable. 2. Dispute Errors on Your Credit Report Checking your credit is important, but accuracy matters just as much. Your credit report shows the full picture of your borrowing history, including every loan, credit card, and payment in your name. Lenders review this entire report, not just your score, when evaluating your application. As you review it, look for anything that does not seem right, such as accounts you do not recognize, incorrect balances, or payments marked late when you paid on time. If you find an error, take action. You can dispute inaccurate information directly with the credit bureau and the lender that reported it. Fixing mistakes early can help protect your credit and prevent small issues from affecting your approval. 3. Apply With a Cosigner When It Makes Sense If you’re new to credit or have a limited credit history, applying with a cosigner can strengthen your application. A cosigner is someone—often a parent or trusted family member—who agrees to share responsibility for the loan. Because many cosigners have longer credit histories, their involvement can help: Increase approval chances Improve interest rate options Unlock higher borrowing limits At Ascent, we saw 4x higher approvals offs when students apply for an Ascent loan with a cosigner*. For many students, having a cosigner is a practical way to access better loan terms while building their own credit at the same time. Also, keep in mind that some lenders, like Ascent, offer a cosigner release which helps set students up for financial success and removes cosigner’s responsibility. 4. Borrow Only What You Need Private student loans are usually limited to your school’s certified cost of attendance, which includes tuition, housing, meals, books, and basic living expenses. Before applying, take a few minutes to review these costs and think honestly about what you really need to cover. A helpful approach is to start with your total school costs, then subtract any money you already have from savings, scholarships, grants, or family support. The remaining amount is often a better estimate of what you actually need to borrow. Applying for scholarships Completing the FAFSA (Free Application for Federal Student Aid) each year to access federal student loans and other university-based financial aid Contacting your school’s financial aid office to negotiate your financial aid offer. Taking advantage of on-campus work-study programs to make some money during school Borrowing only what you need now can make a big difference later. Smaller loan balances often mean lower monthly payments after graduation and more flexibility as you start your career. 5. Show Strong Financial Habits Lenders look for signs that borrowers can manage money responsibly. Simple habits can make a meaningful difference in how your application is reviewed. Focus on: Paying all bills on time Keeping credit card balances low Avoiding unnecessary debt Maintaining existing accounts in good standing These habits strengthen your credit profile over time and signal reliability to lenders. 6. Do Your Research on Loan Types When you apply for a private student loan, you usually have the choice between fixed-rate and variable-rate loans. Understanding the difference can help you pick the option that fits your circumstances. Variable-rate loans can go up or down over time with the market. This can save you money if you plan to pay off your loan quickly, but it also comes with more uncertainty. Fixed-rate loans stay the same for the life of your loan, so your payments won’t change. They can give you peace of mind, but your rate won’t drop if market rates go down. Doing a little research now can help you choose a loan type that works for you today and keeps your options open for the future. 7. Apply When You're Financially Ready Timing matters. Applying when your credit is in good shape, your cosigner is also prepared, your documents are organized, and your school information is confirmed can make the process smoother and less stressful. Before you apply, make sure you have: Your school and program details Cost of attendance information Any income documentation, if required A cosigner lined up, if needed Having everything ready can help prevent delays, reduce mistakes, and make it easier to get approved quickly. It also gives you a clear picture of how much you actually need to borrow so you can plan with confidence. What If You’re Not Approved Right Away? If your application isn’t approved on the first try, it doesn’t mean you’ve failed, and it doesn’t mean you’re out of options. Many students strengthen their applications by adding a cosigner, improving their credit, or adjusting their borrowing amount. 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. * 4x higher acceptance rates were observed between November 2024 through January 2025 across all products when a loan application is cosigned vs without a cosigner. Ascent’s minimum credit requirements vary based on loan product, credit history, and whether you’re applying with a cosigner. You can see your rates without impacting your credit score to help you determine which product could be best for you based on your unique circumstances.

February 26, 2026 | By: Ascent
Best Student Loan Tips for High School Seniors Attending College in 2026
Heading to college in 2026 is exciting, but paying for it can feel stressful, especially if this is your first time dealing with financial aid or student loans. The good news is you don’t have to figure it all out at once. Starting early gives you a big advantage. You can find scholarships, understand federal aid, and figure out which student loan options make sense for you. In this guide, we will walk you through tips on student loans so you know what to expect and exactly how to prepare. Start With the FAFSA as Soon as It Opens One of the first steps every high school senior should take, even if you plan on taking out student loans, is completing the FAFSA (Free Application for Federal Student Aid). This form determines your eligibility for federal grants, work-study, and federal loans and many colleges and scholarships use it to award aid, too. For the 2026–27 academic year, the FAFSA opened up on October 1, 2025, and the deadline to submit in time for most federal aid is June 30, 2027. Submitting early gives you the best chance at available grants and need-based aid, which don’t have to be repaid. Even if you don’t think you’ll qualify for need-based aid, it’s still worth submitting. You might be surprised by what you’re eligible for, and completing it keeps your options open. Apply for Scholarships Early and Often Scholarships are one of the easiest ways to reduce how much you might need to borrow for college. Start looking early and check opportunities at the local, state, and national level, including awards from colleges, community groups, and employers. Even smaller scholarships can add up fast, so don’t overlook them. And remember, Ascent also offers monthly scholarship giveaways! For more information, check out our webinar on How to Pay for College with Scholarships, here. Do Your Homework on Student Loan Options We know student loans can feel overwhelming, but taking a little time now to understand your options can make a big difference later. The goal is to find a private student loan that works for your budget and your future. Private student loans typically come in two types: fixed-rate and variable-rate: Variable-rate loans can go up or down over time with the market. This can save you money if you plan to pay off your loan quickly, but it also comes with more uncertainty. Fixed-rate loans stay the same for the life of your loan, so your payments won’t change. They can give you peace of mind, but your rate won’t drop if market rates go down. Doing a little research now, comparing options, and asking questions can help you pick the loan that’s right for you. And remember, you don’t have to figure this out alone. Parents, guardians, your school’s financial aid office, and the team at Ascent can help you weigh your choices and feel confident about your decision. Plan How Much You Really Need to Borrow When getting ready to apply for a private student loan, plan how much you really need to borrow and only borrow what is necessary. Private lenders limit loans to the cost of attendance, but this does not equal just tuition – this includes things like housing, textbooks, even a laptop. Your college will certify your cost of attendance when you apply and you can likely even see that when you decide to enroll at that school. Smart budgeting can help you minimize your loan amount and avoid extra interest and repayment stress after graduation. Consider a Cosigner for Student Loans If you’re new to credit or have a limited credit history, applying with a cosigner can strengthen your application. A cosigner is who agrees to share responsibility for the loan, often a parent or trusted family member. Because many cosigners have longer credit histories, their involvement can increase your chances of approval, improve your interest rate options and potentially unlock higher borrowing limits. For many students, this is a practical way to access better student loan terms while building their own credit at the same time. Also, keep in mind that some lenders, like Ascent, offer a cosigner release which helps set students up for financial success and removes cosigner’s responsibility. Keep Your Credit and Financial Habits Strong If you decide to use private student loans, your credit score (or a cosigner’s score) may affect approval and interest rates. Learn how credit works, pay bills on time, and avoid opening too many new accounts too quickly. Good habits now can set you up for better borrowing terms and financial confidence later. You’ve got this, and your financial planning now can set you up for success long after graduation! Looking for more information? Check out our Ultimate Guide to Budgeting for College Students. Learn More with Ascent Navigating the student loan application process can be challenging, and Ascent is committed to providing students and families with the financial resources needed to pursue their dreams. From financial wellness resources to our flexible private student loans and undergraduate student loans, we are here to help students and their families make informed decisions about their future in college, and beyond.

February 26, 2026 | By: Ascent
What Does the End of Grad PLUS Loans Mean for Higher Education?
For nearly twenty years, the Grad PLUS loan program has been a major pillar of federal financial aid for graduate and professional students. These loans allowed students to borrow beyond traditional federal limits and cover their full cost of attendance, including tuition, housing, books, and living expenses. For many, Grad PLUS was the bridge that made graduate school financially possible. However, starting July 2026, new Grad PLUS loans will no longer be available under the One Big Beautiful Bill (OBBB) Act. This pivotal change raises a central question: What will the end of Grad PLUS loans mean for the future of graduate education? While the full impact remains to be seen, one word comes to mind: opportunity. Opportunity to innovate, rethink graduate funding, and build smarter, more sustainable solutions for students and institutions alike. What’s Changing: New Federal Limits Under the new law, federal borrowing for graduate students will be capped: Graduate (Academic) Programs: $20,500 annual limit, $100,000 lifetime maximum Professional Programs (Law, Medicine, etc.): $50,000 annual limit, $200,000 lifetime maximum. Borrower Category Pre-OBBBA Limit New OBBBA Limit Undergraduate Stafford (Dependent) $5,500 - $7,500 per year; $31,000 aggregate Unchanged Undergraduate Stafford (Independent) $9,500 - $12,500 per year; $57,500 aggregate Unchanged Parent PLUS (Parents of Undergrad) Full Cost of Attendance $20,000 per year; $65,000 aggregate per student Graduate Stafford (Masters/PhD/MBA) $20,500 per year; $138,500 aggregate $20,500 per year; $100,000 aggregate Graduate Professional Stafford (MD/JD/DDS) $20,500 per year; $138,500 aggregate $50,000 per year; $200,000 aggregate Graduate Grad PLUS Full Cost of Attendance Eliminated All Federal Loans Combined No lifetime cap $257,500 lifetime cap Previously, Grad PLUS loans allowed students to borrow beyond federal limits, filling gaps left by Direct Unsubsidized Loans. Once the program is phased out, students will need to explore other options, such as private loans, scholarships, or institutional aid, to fund their education. Financial aid offices will be crucial partners in helping students navigate these choices and stay on track with their goals. A Brief Look Back: Grad PLUS and Its Impact Grad PLUS loans weren’t just widely used; they shaped graduate education. While only 16% of graduate students rely on the program, Grad PLUS accounted for 32% of all federal graduate lending, showing just how central it became in helping students pursue advanced degrees. These loans were especially common in high-cost programs, with nearly a quarter of students in programs costing $25,000 to $70,000 using Grad PLUS, and that share rising to 30% for programs above $70,000, according to a 2024 report from the Georgetown University Center on Education and the Workforce. Beyond helping students, Grad PLUS also influenced institutions. The availability of additional federal funds allowed schools to expand programs, support student opportunities, and invest in resources. However, research suggests that tuition increases sometimes offset the benefits of increased federal lending. Today, according to recent federal data, about 1.8 million borrowers hold Graduate PLUS loans totaling approximately $119.2 billion in debt, a scale that demonstrates the program’s significance and the magnitude of this transition. What’s Next: A New Era in Graduate Funding With Grad PLUS loans being phased out, graduate education is entering a new era, one that calls for creativity, collaboration, and thoughtful planning. For Students For students, this shift requires the exploration of a broader mix of funding options. Scholarships, grants, and institutional aid will play an increasingly central role in covering costs, while private loans can provide flexible solutions to bridge any gaps. Engaging early with financial aid offices can help students build a comprehensive plan, minimize uncertainty, and feel more confident about their financial path through graduate school. Thoughtful planning now can reduce stress later and ensure students can focus on their studies and career goals without unexpected financial obstacles. For Institutions The end of Grad PLUS loans is prompting schools to rethink how graduate programs are funded. Hybrid approaches that combine scholarships, grants, and external funding can help students cover high-cost programs without relying on a single source of support. Institutions are also exploring ways to make aid more flexible and targeted, from directing resources where they’re most needed to offering modular programs or tuition schedules that let students progress at their own pace. Partnerships with private lenders can further support students, offering customized loan programs, streamlined processes, and flexible repayment options. Some lenders provide resources beyond financing, such as career readiness tools, coaching, and internship opportunities, to help students graduate on time and launch successful careers. By combining these strategies, schools can create funding systems that are clear, manageable, and tailored to student needs, helping students navigate the post-Grad PLUS world with confidence. For Private Lenders As federal aid changes, private lenders can play a key role in supporting the graduate funding landscape post-Grad PLUS. Thoughtful partnerships open the door to solutions like customized loan programs, flexible repayment options, and streamlined processes that reduce administrative hurdles. Many lenders also provide additional support, offering resources including financial wellness tools, career readiness programs, and internship opportunities to help students successfully complete their programs and transition into their careers. When considering private student loans, it’s important to choose a lender that’s transparent about rates and fees, offers flexible repayment options, and provides responsive support throughout your borrowing journey. Look for lenders who prioritize student needs, allow for cosigner release, and offer benefits like autopay discounts or hardship protections. Avoid companies that aren’t upfront about terms or make unrealistic promises, and always research reviews to ensure you’re partnering with a trustworthy lender who will support your goals from enrollment to repayment. Check out our Guide to Choosing the Best Private Lender here, for more information. Final Thoughts The end of Grad PLUS is a moment for all stakeholders to think strategically, plan proactively, and embrace flexible solutions. With careful planning, collaboration, and thoughtful use of available resources, the post-Grad PLUS world can be a time of smarter, more sustainable funding that helps students pursue their education and institutions maintain vibrant, accessible programs with student success at their forefront. 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.

December 10, 2025 | By: Ascent
Private Loan Trends for Graduate Students in 2025-2026
With Grad PLUS loans ending for new borrowers in July 2026, the private loan market for grad students has shifted fast. Lenders are competing harder for your business, rates vary widely based on your credit, and you've got more options than ever if you know where to look.

February 18, 2026 | By: Ascent
How to Build a Preferred Lender List: A Checklist for Schools
With Grad PLUS loans being phased out, graduate students and schools are facing new choices and considerations. While this transition brings some uncertainty, it also opens the door for schools to find new ways to guide and support students as they plan for their educational future.

February 18, 2026 | By: Ascent
How Schools Can Rethink Graduate Funding Models After Grad PLUS
Graduate funding is changing fast, and schools have an opportunity to rethink how they support students. With the end of Grad PLUS loans under the One Big Beautiful Bill (OBBB) Act, institutions will need to explore new ways to help students cover the cost of high-cost programs like law, medicine, and business. These shifts open space for innovation, helping schools expand access and showcase the value of their programs.

November 06, 2025 | By: Ascent
Ascent Funding Named a Finalist for U.S. Chamber of Commerce Foundation’s 2025 Citizens Awards
The U.S. Chamber of Commerce Foundation named Ascent a finalist in the 2025 Citizens Awards, a long-standing program that honors businesses for their leadership in solving the world’s biggest challenges. Ascent was nominated for the Best Education and Workforce Program for its Zero Percent Loan initiative with The Forward Fund, designed to remove financial and educational barriers for adult learners to gain in-demand skills, advance their careers, and achieve lasting economic mobility in North Carolina. “We are thrilled to be recognized as a finalist for this award,” said Ken Ruggiero, president & CEO of Ascent. “This honor celebrates the power of collaboration and innovation to expand access to education and career opportunities—creating real impact for learners and the communities they serve.” This prestigious program recognizes the most innovative and impactful initiatives that leverage a company’s talent, resources, and expertise to improve communities. Ascent collaborates with philanthropic investors, private funders, and public sector partners to deliver innovative, outcomes-based financing solutions that expand access to upskilling and higher education for adult learners. These partnerships fuel Ascent’s mission to unlock durable economic mobility by removing financial barriers and enabling learners to pursue high-impact training and career pathways. “Across the country, millions of adults are eager to build new skills and advance their careers, but many are shut out by cost,” said Tristan Fleming, Chief Impact Officer at Ascent. “Our Zero Percent Loan program helps remove that barrier, giving learners—especially those from low-income backgrounds—the skills and confidence they need to achieve lasting success and economic mobility.” With minimal underwriting and a 90%+ approval rate, the Zero Percent Loan program allows students to pursue training with no interest or fees. It also offers protections such as payment deferral if a minimum income threshold isn’t met, plus living stipends to support program completion. The results speak for themselves: 98% of participants didn’t have a cosigner, 93% came from low-income backgrounds, and 76% had no college degree. After completing their programs, graduates report an average income increase of an impressive $24,000. The winners of the 2025 Citizens Awards will be announced during the U.S. Chamber Foundation’s Business Solves Conference on October 28, 2025. Learn more about the awards program and register to attend the event here. 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. About the U.S. Chamber of Commerce Foundation The U.S. Chamber of Commerce Foundation harnesses the power of business to create solutions for the good of America and the world. We anticipate, develop, and deploy solutions to challenges facing communities—today and tomorrow.

November 03, 2025 | By: Ascent
What the Elimination of Grad PLUS Loans Means for Graduate Schools and How to Prepare
The elimination of Grad PLUS loans will fundamentally reshape how graduate students finance their education, challenging both access and affordability. Financial aid offices must proactively adapt policies, train staff, and guide, students to navigate a more complex funding system.

February 18, 2026 | By: Ascent
Navigating Change: Key Takeaways from the “Understanding Student Loan Changes Amidst Uncertainty” Webinar
Whether you're currently in school, preparing to start, or managing your loan repayment, Ascent provides practical tools and insights to help you make informed financial decisions with confidence. Paying for college can be confusing, especially with all the recent changes to financial aid and student loans. To help make things a little clearer, we partnered with Mission Federal and the University of San Diego to host “Understanding Student Loan Changes Amidst Uncertainty,” a webinar designed for students and families. Ascent’s SVP and GM of AscentUP, Allie Danziger, Mission Fed's VP of Marketing and Community Relations, Neville Billimoria, and University of San Diego’s Director of Financial Aid, Kellie Nehring, shared helpful advice on FAFSA updates, scholarships, student loans, and how to plan for different college paths, whether that’s a four-year university, a community college, or something in between. If you missed the webinar, no worries! You can watch it here but we’ve also summarized the learnings below. Changes to Federal Loan Policy Big shifts are on the horizon—new federal policy changes are set to reshape repayment, forgiveness, and loan eligibility in ways that every student and family should know about. Starting July 1, 2026, federal loan regulations will undergo major updates that will directly impact how students and parents pay for college, beginning with the 2026–2027 academic year. Graduate students will no longer be able to borrow Grad PLUS Loans, a change that could make financing advanced degrees more challenging. For undergraduates, Parent PLUS Loans will still be available, but borrowing will be capped at $20,000 per year—posing funding gaps for families at higher-cost schools while having less effect at more affordable institutions. The good news? If you’re starting school this Fall and plan to use Grad PLUS or Parent PLUS Loans, your borrowing won’t be affected for the upcoming academic year. Still, these upcoming changes are prompting schools to explore creative solutions, from expanding institutional loan options to connecting families with private lenders. For students and parents alike, understanding these shifts early is key to preparing for the future of college financing. Parent PLUS Loans have unique repayment rules that families should understand before borrowing. Eligibility requires a credit check, and repayment begins just 60 days after the second disbursement, often during the spring semester of a student’s first year. These payments cannot be deferred until six months after graduation, meaning parents may need to start making payments while their student is still in school. International students aren’t eligible for federal aid, but they may still qualify for other financial aid programs and resources. Guidance for Navigating Student Loans As you plan for the road ahead, it’s important to understand the key details of student loans to stay informed and make confident financial decisions. Completing the Free Application for Federal Student Aid (FAFSA) each year is the first and most important step in determining your eligibility for federal financial aid. Depending on your situation, you may also need to fill out an institutional or state application to maximize your options. For many students, federal loans will play a key role: subsidized loans are need-based and don’t accrue interest while you’re in school, as long as your Student Aid Index is lower than your school’s cost of attendance. On the other hand, unsubsidized loans begin accruing interest right away, though repayment is deferred until six months after graduation or withdrawal. Once repayment starts, it’s critical to stay on track—missing payments, even during forbearance, can create lasting challenges. Remember, you’ll be repaying the loan servicer that manages your account, so building good habits now will set you up for success after graduation. The good news is that repayment plans can be tailored to your income, giving you some flexibility as you begin your career. Federal student loan interest rates typically shift by about 5–10% each year and reset every July 1st for the upcoming academic year. In contrast, private lenders adjust rates which can make them more competitive depending on the market. Ascent offers low rates and multiple benefits that help students plan, pay, and succeed in college. Our borrowers also receive access to our AscentUP program which provides tools, resources, and coaching, as well as access to paid internship opportunities, to support students on professional development, building confidence, developing new skills, and jumpstart dream careers. More Ways to Pay Beyond student loans, there are several ways to help make college more affordable. Campus jobs offer flexible hours and valuable experience, often available through the financial aid office, athletics department, or housing office. If you qualify, federal work-study can provide an added chance to earn money while gaining valuable experience. The key is to explore these options early at the schools you’re considering, so you can combine resources and create a strategy that makes paying for college feel more manageable. When it comes to paying for college, scholarships are the ultimate win— it’s free money you never have to pay back. There are scholarships out there for nearly everything—academics, athletics, leadership, volunteering, unique hobbies, and even your favorite ice cream flavor. The more you apply for, the more chances you have to stack up real savings. For students 14+, Ascent offers no-essay scholarships! Check out the latest opportunities and enter to win here! As you navigate paying for college, remember that you don’t have to do it alone—your school’s financial aid team is there to support you. Whether it’s asking about scholarships, staying on top of deadlines, appealing for additional aid, or finding out who to contact about repayment options, reaching out early can make a huge difference. Building a relationship with the financial aid office not only helps you avoid frustration and discouragement but also ensures you have a trusted resource to turn to whenever questions come up. Don’t hesitate to ask plenty of questions, seek advice, and lean on the broader network of support around you. By gathering input from multiple sources and staying connected, you’ll be better equipped to make confident, informed decisions about your financial journey!

September 02, 2025 | By: Jazmin Chen
Ascent Lowers Annual Percentage Rates (APRs) to Support Students and Families
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.

August 14, 2025 | By: Ascent