For College Students Archives - Page 2 of 18

Smart Money Moves: The Ultimate Guide to Budgeting for College Students
College is an exciting time to explore, grow, and gain independence—including getting comfortable with money. Budgeting might sound intimidating, but it’s really just a way to make sure your money supports the life you want to live. With the right strategy and tools, any student can manage money effectively, reduce stress, and set themselves up for future financial success. Why Budgeting is Crucial for College Students Budgeting gives you control over your money, even when it feels like you don’t have much. It helps you cover essentials, avoid debt, and still enjoy life on and off campus. Whether you’re managing a part-time income or student loans, a budget keeps you organized, prepared for surprises, and builds good habits for life after college. Step 1: Understand Your Finances – Creating a Realistic Budget Before you can build a budget that works, you need to understand where your money is coming from and where it’s going. Taking the time to get clear on your income, expenses, and savings goals is the foundation of smart money management. Track Your Income Sources: Before you can plan how to spend or save, it’s important to know how much money you have coming in. Identifying all your income sources will give you a clear starting point for your budget. Financial aid (grants, scholarships, loans) Job income Family support or allowance Know Your Expenses: Prioritize Needs vs. Wants Once you understand your income, the next step is to track your spending. Breaking your expenses into needs and wants can help you make smarter decisions about where your money goes. Fixed Expenses (Needs): Tuition, rent, utilities, insurance, credit cards, bills Variable Expenses (Wants): Food, entertainment, supplies, clothing, personal care Savings: Fund Your Future Saving might not feel urgent right now, but it’s one of the most powerful habits you can start. Even small contributions help you build a financial safety net and encourage long-term habits that will support your goals well beyond college. Savings Accounts: Emergency Fund, travel expenses, pet care High Yield Savings Account: Have higher interest rates and enable faster growth of your savings Retirement Plans (401k, Roth IRA): Tax-advantaged savings plans to help grow savings over time for retirement expenses Use a Budgeting Method Choosing a budgeting method gives structure to your financial plan and helps you stay consistent with your spending, savings, and goals. 50/30/20 Rule: 50% needs, 30% wants, 20% savings/debt repayment This rule helps individuals manage their finances by prioritizing essential expenses, discretionary spending, and long-term financial goals. 50% Needs: Essential expenses you must pay to live and work 30% Wants: Non-essential but enhance quality of life 20% Savings: Strengthening your financial future Envelope Method: Physical or digital envelopes for each category Determine budget categories Set monthly budget for each Withdraw cash and fill envelopes Spend only from those envelopes Step 2: Save Where You Can Once you’ve built a basic budget, the next step is finding ways to stretch your dollars further. The good news? As a college student, there are tons of easy ways to save without sacrificing fun or convenience. From student discounts to smart spending habits, a few small changes can make a big difference. Here’s how to make the most of what you have. Student discounts: Show student ID at restaurants, shopping stores, movie theaters, etc. Apps to get student discounts: UNiDAYS, Student Beans Textbooks: Rent, buy used, library copies Food: Cook at home, use meal plans wisely, avoid daily coffee shop habits, check supermarket ads for deals Transportation: Use public transit, bike, or carpool Most colleges provide free transportation passes Entertainment: Attend free campus events, share streaming accounts Step 3: Prepare for the Unexpected Even the best budgets can be thrown off by surprise expenses. Whether it’s a last-minute trip home, a medical bill, or an extra textbook you didn’t plan for, life happens. That’s why it’s important to build a financial cushion that helps you handle the unexpected without stress—or debt. Here’s how to stay prepared and protect your budget. Build an Emergency Fund: Aim for a $500 goal to start Plan for Irregular Expenses: Books, holidays, trips, birthdays, medical expenses Step 4: Use Tools to Stay on Track Creating a budget is a great start—but staying on track takes a little help. Thankfully, there are plenty of simple tools that can keep you organized and consistent, even on your busiest days. Whether you prefer apps, spreadsheets, or calendar reminders, the right tools can make managing your money quicker, easier, and less stressful. Let’s look at a few that can help you stay in control. Spreadsheets: Custom Google Sheets or Excel Download Ascent’s Student Budgeting Sheet here! Banking Tools: Auto alerts for low balance, spending summaries Calendar Reminders: For bill due dates and budget check-ins Block specific date/time on your calendar to sort your finances Common Budgeting Mistakes to Avoid Even with the best intentions, it’s easy to slip up. Being aware of common budgeting mistakes can help you stay on track and avoid unnecessary stress. Here are a few pitfalls to watch out for: Underestimating daily spending: Every purchase adds up! Not reviewing your budget monthly: Adjust for changes Overlooking one-time costs: Move-in costs, graduation fees, etc. Relying on your credit cards: Make sure you have the funds to pay them back Building Healthy Financial Habits Good budgeting isn’t just about numbers—it’s about building habits that support your goals over time. With a few consistent practices, managing your money can become second nature. Here’s how to turn smart choices into lasting habits: Track every dollar: Even small purchases add up Set time aside time to review your account weekly Set your goals: avoid overdrafts, reduce credit card use Stick to your budget for 3 months? Treat yourself (responsibly)! Final Thoughts Budgeting is an essential skill that can make your college experience less stressful and more empowering. It’s not about getting everything right the first time—it’s about starting small, staying flexible, and learning from your experiences. With a little effort and consistency, you’ll build habits that not only help you thrive in college but also set you up for long-term financial success.

July 02, 2025 | By: Jazmin Chen
A Student’s Guide to Smart Summer Spending & Saving
It’s finally summer! Whether you're kicking off your mornings with a run, gaming with friends, or soaking up the sun poolside, this is your time to unwind. While the season is all about fun and freedom, it’s also a great opportunity to be mindful of your money. The choices you make now—both in spending and saving—can set you up for a smoother, more stress-free school year. Save this Summer Open a Savings Account Even small deposits from a paycheck or birthday card can add up fast. Credit unions often offer student-friendly savings accounts that help you set goals, earn interest, and build smart financial habits. You can even automate your deposits—just set it and forget it! SAFE Credit Union has some great savings account options—from traditional savings to high-dividend savings accounts—so you can start your savings journey now. Apply for Scholarships Applying for scholarships is a wonderful way to save money this summer! Ascent Funding offers a $1,000 scholarship giveaway every month; no essay required! Budget Around Plans but Leave Room for Spontaneity Create a simple monthly budget based on your known expenses—like back-to-school shopping, beach days, or a friend’s birthday. Then, add a “spontaneous spending” cap. Whether it’s $30 or $100, this lets you enjoy last-minute BBQs or froyo runs without wondering where your money went. Use SAFE Credit Union’s financial guides or your favorite app to stay on track. Apply the 24-Hour Rule Thinking about that $65 pair of sunglasses or a $90 concert outfit? Wait 24 hours. Still want it tomorrow? Go for it. For bigger purchases, wait 48–72 hours. It gives you time to check your budget and see if it’s really worth it. Use Student Discounts Student status = Savings. Apps like UNiDAYS and Student Beans offer deals on clothes, tech, food, and gym memberships. Always ask: “Do you offer student discounts?” You’d be surprised how often the answer is yes! Try a No-Spend Challenge Pick a weekend—or even just a day— where you only spend on necessities. It’s a fun, low-pressure way to reset your habits, be more intentional, and boost savings. Go on a Staycation You don’t need a passport to have fun. Explore your city like a tourist—check out local concerts, free museum days, night markets, or hiking trails. You’ll save hundreds on travel while still making memories. Smart Summer Splurges Invest in Timeless Summer Staples Choose breathable, durable fabrics like cotton and linen. Stick to neutral colors and classic styles that won’t go out of fashion. Think cost-per-wear for long-term savings. Prioritize Health: Buy the Sunscreen Sunscreen isn’t optional—it’s both self-care and long-term financial protection. A $10 bottle now is less than future medical costs. Pro tip: Buy in bulk or check for student discounts at local stores. Final Thoughts There are infinite ways to spend and save responsibly. It’s an easy way to stay in control of your money this summer, and come fall, you’ll be glad you did! About the Author Kristina Nguyen is a community college student studying Business Administration with an emphasis in Marketing. As President of the Business Club and Transfer Club at her school, she helps students navigate the transfer process, connect with industry professionals, and access scholarship resources. After graduating from high school at 16, Kristina entered community college unsure of what to expect and unaware of the many opportunities available. Now, as she prepares for her own transfer to a four-year university, she’s passionate about helping other students feel confident in their journey and realizes there’s no shame in taking an alternative route to their goals.

June 26, 2025 | By: Kristina Nguyen
Learn to Save Smart with Student Discounts
Balancing the costs of being a student can get complicated and expensive. Whether you’re worried about textbooks, rent, meals, or any other expenses, student discounts can help lighten the load. In this blog, we’ll shine light on some great discounts that companies offer for students like you. Remember, while saving money is a win, it’s still smart to stick to your budget—don’t overspend just because it’s a good deal! Technology As a college student, having access to technology is essential, but thisit can also get really costly. Let’s explore some discounts tech companies offer to students to help ease the cost. Apple Apple offers exclusive discounts not only for college students but also for parents, faculty, and staff. Enjoy special pricing on Macs, iPads, and select accessories. Microsoft Microsoft offers discounts for students and teachers. They offer discounts on their Surface laptops and access to Microsoft Teams, Word, Excel, PowerPoint, and more for free. With your student email, it is available until you graduate. Dell You can create a free Dell Rewards account with your email and get savings after getting verified as a college student. Their rewards system allows you to get cash back to put towards your future Dell.com purchases. HP HP’s online education store offers up to 40% as part of their membership benefits. This includes discounts on laptops, desktops, accessories and printers. Streaming Spotify It’s always nice to have some music, a podcast, or an audio book to get you through the day as a student. Spotify offers 50% off their premium monthly subscription for students. All you have to do is verify your college student enrollment with the SheerID verification form. You can also bundle this subscription with Hulu for even more savings! HBO Max Looking for a movie or show to watch between your study breaks and free time? Max offers students a 50% off discount for their streaming services. Apple Music Apple Music has got you covered with music, radio stations, and a discount too. Whether you are earning your associate, bachelor’s or postgraduate degree, you can get a special rate made just for students. Going out Piada One reason you should keep your student ID on you: Piada’s student special! You can get any sized entree and a large fountain drink for just $9, every day from 2-5pm, and all day on Wednesdays. Cinemark & AMC Looking to catch the latest blockbuster? Take a break from studying and check out nearby Cinemark theatre to see if they offer student discounts! You can enjoy special pricing with your student ID. Other theaters like AMC also provide student discounts, so don’t forget to ask about those deals too! Museum Discounts Whether you are traveling, or considering being a tourist in your own college town,, always call or check local museum websites for student deals. Some offer free hours or discounted prices with your student ID! Bank of America also offers free admission at participating museums to cardholders during the first weekend of every month . Ascent We offer great benefits to help students earn cash and savings too! Get a discount on your student loan when you enroll in automatic payments. When you sign up, you can save money with the 0.25%-1.00%* autopay discount. Not only are you getting the discount, but you won’t have to worry about missing any payments! Plus, it takes as little as $1 per month to qualify. Ascent student graduates get 1% of their total loan amount back in cash with our graduation reward**. We are proud of your accomplishment and want to celebrate you! Refer a friend and earn big! Recommend your friends to Ascent and you can earn an Amazon.com Gift Card for each friend you refer ***. The more you refer, the more you can earn. The more friends you refer, the more you can earn—everyone wins. Additional Sources There are also other resources like Student Beans and UNiDAYS where they give students access to more exclusive offers. After you've signed up and verified your student status, you unlock access to discounts for travel, food, clothing, and more! Conclusion Don’t miss out on any student discounts and benefits, a little can go a long way. Saving on technology, entertainment, and dining out can help you save extra money to put away for your expenses during your time in school. Take advantage of your student ID, make smart financial decisions, and be on the lookout for ways you can save for the future and set yourself up for success. * The final ACH discount approved depends on the borrower’s credit history, verifiable cost of attendance, and is subject to credit approval and verification of application information. Automatic Payment Discount of 0.25% is for credit-based loans and a 1.00% discount is for outcomes-based loans when you enroll in automatic payments. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. ** Ascent’s 1% Cash Back Graduation Reward is for eligible college students only and subject to terms and conditions. Eligible students must request the graduation reward from Ascent. Aggregate cash back limit of $500. Learn more at AscentFunding.com/CashBack. *** Refer a Friend program is subject to terms and conditions, click here for official rules and eligibility. Restrictions apply, see amazon.com/gc-legal Ascent Written, Native Advertising Disclosure Ascent Funding, LLC (“Ascent”) sponsors these blog posts and creates informational content that is of interest to prospective borrowers and our applicants. The information included in this blog post could include technical or other inaccuracies or typographical errors. It is solely your responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, services, merchandise and other information provided herein. ASCENT IS NOT RESPONSIBLE FOR, AND EXPRESSLY DISCLAIMS ALL LIABILITY FOR, DAMAGES OF ANY KIND ARISING OUT OF USE, REFERENCE TO, OR RELIANCE ON ANY INFORMATION CONTAINED WITHIN THESE BLOG POSTS (INCLUDING THIRD-PARTY SITES). ASCENT OFFERS LINKS TO THIRD PARTY WEBSITES AND ARTICLES SOLELY FOR INFORMATIONAL PURPOSES. WHEN YOU CLICK ON THESE LINKS YOU WILL LEAVE THE ASCENT WEBSITE AND WILL BE REDIRECTED TO ANOTHER SITE. THESE SITES ARE NOT UNDER THE DIRECTION OR CONTROL OF ASCENT. WE ARE NOT AN AGENT FOR THESE THIRD PARTIES NOR DO WE ENDORSE OR GUARANTEE THEIR PRODUCTS OR THEIR WEBSITE CONTENT. ASCENT MAKES NO REPRESENTATIONS REGARDING THE SUITABILITY OR ACCURACY OF THE CONTENT IN SUCH SITES AND WE ARE NOT RESPONSIBLE FOR ANY OF THE CONTENT OF LINKED THIRD PARTY WEBSITES. As current and former students, we provide free resources to help you throughout your education, which may include links to third-party websites (where security and privacy policies may differ from Ascent’s). For our full disclaimer, please click here.

October 16, 2025 | By: Ascent
The Forward Fund, NCAHEC and Ascent Funding Partner to Tackle North Carolina’s RN Shortage
North Carolina’s nursing shortage is projected to reach nearly 12,500 by 2033. To address this shortage, The Forward Fund (TFF) and the North Carolina Area Health Education Centers (NC AHEC) have joined forces to provide zero-interest loans to individuals enrolling in the NC AHEC RN Refresher program offered in collaboration with the University of North Carolina at Chapel Hill School of Nursing. “This partnership is an excellent opportunity to provide RN Refresher students with funding support to eliminate cost as a barrier -to enrollment in the program and subsequently return to nursing workforce. It is a win-win for the RN Refresher and the nursing workforce in North Carolina,” said Dr. Felicia Mosley-Williams, Statewide AHEC Nursing Liaison and Director of the NC AHEC RN Refresher Program. The RN Refresher program provides accelerated, asynchronous education and training for registered nurses with a lapsed license or an active RN looking to update their knowledge. “The RN Refresher program is committed to helping more nurses return to the field, opening a variety of career pathways, and investing in nursing’s commitment to improve the state of healthcare in North Carolina,” said Dr. Jill Forcina, Director of Education and Nursing at NC AHEC. The program consists of 24 self-paced, online modules taught by faculty at the University of North Carolina at Chapel Hill School of Nursing, and a 140-hour clinical practicum managed by local AHECs. Costs for the program are relatively low, however, financial barriers exist preventing RNs from taking advantage of the program. That’s where The Forward Fund’s partnership fills the gap. The Forward Fund will offer zero-interest cost of living loans to individuals enrolling in the RN Refresher program. Loans will vary from $2,000 to $5,000 to cover the cost of living like housing, childcare, and transportation, so RNs can focus on their training and upskilling. “We are proud to partner with NCAHEC and regional area education centers to provide zero-interest financing to support RNs to reenter the workforce,” said Meaghan Dennison, CEO and founder of TFF. “We are thrilled to expand our loan offering to the healthcare space with this partnership.” Loan terms include no minimum credit score, a 3-month grace period upon program completion and a minimum income threshold of $30,000, which accounts for part-time employment. Nurses that do not meet the minimum salary threshold may request income-based deferment, during which period they would have no payments due and remain in good standing with their loan. TFF loans are powered by Ascent Funding as the loan origination and master servicing partner. Once approved, loans are disbursed directly to the student. “We’re thrilled to partner with The Forward Fund and NCAHEC to address the coming nursing shortage by lowering the financial barriers for students,” said Michele Shank, VP, Impact & Senior Counsel from Ascent Funding. “Programs like ours help North Carolina nurses return to work, which only means improved healthcare for all." Interested students learn more about the RN Refresher program here and identify the local contact to be introduced to this financing opportunity. About the Forward Fund The Forward Fund, headquartered in Wilmington, North Carolina, is the state’s only pay-it-forward fund. Dedicated to empowering students, The Forward Fund provides tailored financial support to help students enroll in educational programs, graduate, and secure high-wage employment. This innovative model invests in individual success and ensures local employers gain access to a skilled workforce essential to North Carolina's growth. Website: https://theforward.fund/ LinkedIn: https://www.linkedin.com/company/theforwardfund Contact TFF: https://theforward.fund/contact/ About Ascent Ascent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student’s ability to plan, pay, and succeed. Ascent’s rare Outcomes-Based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans. For more information, visit www.ascentfunding.com.

May 12, 2025 | By: Ascent
What to Do After College: A Practical Guide for Life after Graduation
Graduation is coming up soon, and with it comes a big question: What now? By now, you’re used to attending lectures, submitting assignments, and pulling the occasional all-nighter. So, what happens when the structure disappears, and the deadlines stop? Post-grad life can feel both exciting and overwhelming. Everyone’s asking, “What’s next?” and it’s okay if you don’t have the answer yet. It’s important to remember that graduating in a strong job market can look a lot different than graduating in a recession. Economic conditions can impact the opportunities available and the pace you move at, so give yourself some grace if things feel uncertain. Whether you’re starting a full-time job, considering grad school, or figuring things out one step at a time, there is no single “right” path. What matters most is choosing the best path for you. This guide will walk you through your options and help you navigate post-grad life with confidence. Take a Moment to Reflect If you’ve always wanted to write, cook, or learn a language, now is your chance! You’ve worked hard to get here; it’s healthy (and smart) to take a pause before moving into the next chapter. You can use this extra time to travel, volunteer, reflect, or recharge. Pursue personal goals you’ve always put off, whether it be a new hobby or finally going on that dream vacation. Journal or talk to a mentor to figure out what you want to accomplish, not just what’s expected. If you’re planning time off or thinking about travel, it’s also a good idea to create a basic financial plan. Budgeting tools like Ascent’s free budgeting resource can help you organize your expenses and feel more confident about your choices. Explore Career Options If you’re ready to work, it’s time to dive into exploring career opportunities: Identify your interests, strengths, and values. What industry do you want to work in, location, work-to-life balance, salary expectations. What does job security mean to you, and how important is it in your decision-making? Look into full-time jobs, internships, or freelance/part-time opportunities. Writing, tutoring, assistant roles, social media management, graphic design, etc. If you’re preparing to apply, check out a free resume template or visit Ascent’s Career Center for tools that can help you take the next step with confidence. Network through LinkedIn, Handshake, alumni groups, and local events. Polish your resume (and highlight that new degree!). Set up informational interviews (coffee chats) to learn from people already working in fields that interest you. Pro Tip: See if your professors or career service center at your school can help you connect with alumnae Remember: Don’t be afraid to apply even if you don’t meet 100% of the qualifications. Consider Graduate School or Additional Education Is grad school the right move—or just the “safe” next step? Graduate programs can open doors to specialized roles, higher pay, and advance research or leadership opportunities. But they’re also a major investment of time, money, and energy. It’s worth asking: is this path aligned with your long-term goals, or are you choosing it out of uncertainty? If you’re unsure, remember there are many ways to keep learning and growing without committing to a Master's degree. Alternatives include: Professional certifications (marketing, tech, finance, etc.) Coding bootcamps and short-term skill programs Online courses from platforms like Coursera, edX, or Google Career Certificates Professional skills training through AscentUP Before applying, ask yourself: Does this program directly advance my career goals? Am I pursuing grad school because it genuinely excites me or because it feels more comfortable than facing the unknowns of the job market? Would I benefit more from gaining hands-on experience first and reassessing it later? Can I speak to alumni from this program to learn about their outcomes? Tip: Compare program costs to potential salary increases and job placement rates to help evaluate long-term value. If you’re confident that further education is the right step for you but are concerned about financing it, resources like Ascent can help. They offer student loans not just for traditional graduate degrees, but also for bootcamps and professional development programs, supporting students in all stages of their learning journey. As you explore your options, take time to compare program costs with potential salary increases and job placement rates—this can help you evaluate the long-term value and return on your investment. Start Your Own Venture If you’re entrepreneurial, you can take this time to take a shot at your own thing! To minimize risk, start small, whether that be through side hustles, freelancing, or online businesses. Try platforms like Fiverr, Etsy, and eBay. You can also test your ideas with minimal investment. Try validating your concept by running a quick survey, gathering feedback, or soft launching on social media platforms like Instagram or TikTok to gauge interest. Use resources like the Small Business Administration, local incubators, or freelancing platforms. Open a separate business bank account, track your income and expenses, and investigate basic legal protections if needed. Building something of your own can teach you valuable skills. Why it’s worth it: Even if it doesn’t turn into your full-time career, starting something of your own builds practical, transferable skills from marketing and budgeting to client communication, project management, and resilience. It also gives you clarity on what you actually enjoy doing (and what you don’t). Best of all? You’ll walk away with a unique, real-world experience that stands out on your resume and gives you something memorable to talk about in interviews. Don’t Compare Your Journey to Others Everyone’s post-grad timeline looks different and that’s normal! Avoid getting trapped in comparisons on social media. Focus on your own growth instead of chasing someone else’s timeline. If social media tends to trigger comparison, try setting healthy boundaries through limiting screen time, muting certain accounts, or unfollowing pages that make you feel behind. Redirect that energy towards comparing how much you have developed and achieved over the years and reflect on how you can keep growing! Remember: Real success is built over years, not overnight. Conclusion + Next Steps There’s no single path to success after graduation, and that’s completely normal. Whether you’re diving into a new job, taking a moment to reflect, or still figuring things out, the most important thing is to start somewhere. Even small wins like updating your LinkedIn profile, scheduling a coffee chat, or signing up for a free course can help you build momentum. Uncertainty is part of the process, and it’s okay not to have all the answers right now. What matters is that you’re moving forward with intention and staying open to new possibilities. Looking for tools to support your journey? Ascent offers helpful student resources for planning your next move, financing continued education, and gaining confidence along the way. You’ve worked hard to get here. Keep going, and trust that you’re capable of building a future that feels right for you. You’ve got this.

May 12, 2025 | By: Kristina Nguyen
Navigating Education Evolution: An Ask Me Anything session with Ascent’s CEO Ken Ruggiero
Education is always evolving, and keeping track of the changes can be overwhelming. From critical FAFSA updates to new Department of Education regulations, staying informed has become increasingly complex. Recognizing these challenges, we're taking a proactive approach to support you. On April 10th, we hosted an exclusive Ask Me Anything (AMA) session with our CEO, Ken Ruggiero, creating a direct line of communication between you and our leadership. The session revealed widespread uncertainty about the impact of recent changes on financial aid processes and next steps. Your concerns are our priority, which is why this AMA was designed to provide clear, authoritative answers to your most pressing questions. Couldn't make it to the live session? We've got you covered. We've carefully compiled the most significant questions and comprehensive answers in this detailed recap. Our goal is to transform uncertainty into understanding, empowering you to navigate these changes with confidence. When you say, "dismantle the U.S. Department of Education," what do you mean? There's been growing discussion about potential changes to the U.S. Department of Education, including the possible transfer of federal student loans to the Small Business Administration (SBA). While nothing has officially changed yet, President Trump issued an executive order on March 20, 2025, to begin dismantling the Department of Education. Following this, he announced that the SBA will take over the administration of the student loan portfolio. That said, there may be some challenges to making these changes a reality. Since much of the federal student loan system is governed by law, it’s not clear how these would be implemented without approval from Congress. We know this news can be confusing and stressful, especially if you’re relying on federal aid right now. But rest assured, your current loans and aid are unaffected for the time being. While these changes may impact future borrowers, we’ll be here to keep you updated and support you through any changes that come your way. Will my payments still be deferred until I finish school? If you chose in-school deferment when you took out your loan from Ascent, your payments will remain deferred as long as you’re enrolled at least half-time. This means you won’t need to make monthly payments until after you graduate or drop below half-time status, depending on your loan terms. It's also important to note that a change in the administrator of the federal student loan program should not affect your eligibility to defer payments while you're in school. However, making early payments during deferment can still reduce your total loan cost and help you get ahead with repayment. I want to know if there will still be funding for students that are going to school outside of private lenders? I thought FAFSA helps us avoid interest on loans. Great question! You’re not alone in wondering this. Yes, federal student aid through FAFSA is still currently available. Nothing has changed how students apply for, or receive, federal grants, work-study, or subsidized loans. While there have been recent discussions about potential shifts in how federal education is managed, no changes to FAFSA or federal aid have been approved at this time. If you’re planning for school, it’s still a good idea to complete your FAFSA application as soon as possible and explore all options- federal and private loans- as well as scholarships to make the best financial decision for your situation. Will FAFSA payments be altered or canceled altogether because of the DOE getting cut? As of today, we haven’t heard anything about FAFSA payments being altered or canceled due to changes with the Department of Education. While there have been some changes within the DOE, they’ve assured that essential programs like FAFSA are still up and running. You can continue applying for financial aid as usual, and we’ll keep you updated if anything changes. Why is FAFSA taking so long this year? FAFSA is taking longer this year due to a major redesign for the 2024–2025 academic year, aimed at simplifying the process. However, technical issues and reduced staffing at the Department of Education have caused delays in processing and sending information to colleges. We know it’s a stressful time, especially when you're waiting on financial details to make decisions, but these delays are part of the transition to the new system. Can I still submit my FAFSA if I haven’t yet? Yes, you can still submit your FAFSA! The federal deadline to submit the FAFSA for the 2024-2025 academic year is June 30, 2025. However, some states and schools have earlier deadlines for their own aid programs. Just keep in mind that some funding might be limited the longer you wait, so try to submit it as soon as you can to maximize your chances of getting the most aid available. How is FASFA and other forms of aid like TAP, going to be affected? And how can people go about paying for their education? We know how important financial aid is, and we want to reassure you that FAFSA and programs like TAP are still available to help you pay for school. There’s been a lot of talk about changes, but for now, nothing has affected these programs, so you can still count on them to support you. With the income-based repayment plan no longer available, how much will students expect to pay monthly in repayments and what advice can you share about how to do this with a small income? Good news – the application process for income-driven repayment (IDR) plans, including SAVE, PAYE, ICR, and IBR, is now open again after a brief pause. This means borrowers can apply for these plans and potentially reduce their monthly payments based on income, providing valuable relief if finances are tight. However, while the application process is back up and running, several provisions of these plans remain on pause. For more details, visit: https://studentaid.gov/announcements-events/idr-court-actions. If you’re working on a smaller income, we recommend looking into one of these plans. Along with that, taking a look at budgeting strategies can help you make the most out of your funds. Don’t forget to check out any forgiveness programs that might be available to you, as well. They could really make a difference in the long run. For further assistance, student borrowers should reach out to their loan servicers or visit the Federal Student Aid website for the most up-to-date guidance and resources. Can you provide general info on a Parent Plus Loan? A Parent Plus Loan is a federal loan that lets parents help cover the cost of their child’s college education. It can cover up to the full cost of attendance, minus any other aid, and has a fixed interest rate of 9.08% for the 2024-2025 school year. This process includes a simple credit check, and while payments usually start after the loan is disbursed, parents can request to defer payments while their student is in school. Thank you for this opportunity. As a prospective international student, what are my chances of getting funding, considering these new changes? Thank you. Ascent offers loans to international students with creditworthy U.S. cosigner. While recent changes to the Department of Education may impact federal loan processes, Ascent’s eligibility for international students remain simple: you’ll need a U.S. cosigner and be enrolled at least half-time. To stay informed about loan options and eligibility criteria, we welcome international students to visit our International Student Loans page. How can I reduce my payments to something actually manageable? Making your loan more manageable is all about staying proactive! You can set up automatic payments to keep things simple and avoid any late fees. If you’re able, try to pay a little extra each month – even small payments can help reduce your balance faster. And remember, the Ascent team is always here to help! To explore more options for making your loan payments more manageable, you can contact Ascent’s customer service team. How can I push for the Department of Education to stop changes?!! It’s understandable to want your voice heard, especially when it comes to something as important as education and student loans. There are lots of ways to get involved – reaching out to your reps, joining advocacy groups, or signing petitions can all help. Here are a few petitions you can sign: Link & Link Find the best way that works for you to get involved. Your voice counts! Why does Ascent care? At Ascent, we’re committed to helping students achieve their goals, and we know education is an important investment in your future. Our goal isn’t just about providing loans – it’s to empower you with clear, accessible options so you can make the best financial choices for your future. Your success means a lot to us, both while you’re in school and beyond.

April 22, 2025 | By: Jazmin Chen
The Best Tips for Transferring from a Community College to a 4-Year University
Many students dream of attending top universities like UCLA, UC Berkeley, USC, or Ivy League schools such as Columbia and Cornell, but face two major obstacles: competitive admissions and high tuition costs. A common misconception is that if you don’t get into your dream school straight out of high school, you’re stuck with your alternative. What many people don’t realize is that transferring is a strategic move—not a backup plan. By completing general education requirements at a community college, students can cut tuition costs in half while keeping their options open for prestigious four-year universities. Why Starting at Community College Can Save You Thousands College tuition has never been higher, making cost a major factor in choosing a school. According to the Education Data Initiative, the average cost of attendance for students living on campus at a four-year university is: In-State Public University: $27,146 per year, which is $108,584 over four years Out-of-State Public University: $45,708 per year, which is $182,832 over four years Private Nonprofit University: $58,628 per year, which is $234,512 over four years These figures don’t include expenses like textbooks, food, and transportation, which add thousands more per year. In comparison, community college tuition is typically under $5,000 per year. Since your first two years are often focused on general education classes—completing them at a community college cuts overall tuition costs in half while still earning the same degree once you transfer. Some states even offer tuition-free community college programs, like the California Promise or Tennessee Promise, which help eligible students attend with little to no cost. Depending on your state and financial situation, enrollment fees may also be waived. Transfer Admission Guarantee (TAG): A Direct Path to a UC For students attending a California Community College (CCC), the UC Transfer Admission Guarantee (TAG) program offers guaranteed admission to one of these six UC campuses: UC Davis UC Irvine UC Merced UC Riverside UC Santa Barbara UC Santa Cruz While TAG does not apply to UCLA, UC Berkeley, or UC San Diego, students can still apply to those schools through the regular UC transfer process. To qualify for TAG, CCC students (including international students) must: Maintain at least a 3.4 GPA in transferable courses (some majors require higher) Complete required coursework, including IGETC (Intersegmental General Education Transfer Curriculum, California’s general ed transfer pathway) and major preparation courses Earn at least 30 transferable semester units before applying and 60 by the time of transfer TAG applications are submitted between September 1–30, a year before transfer. Students must still complete the UC application in November. UCLA Transfer Alliance Program (TAP) If you’re aiming for UCLA, the Transfer Alliance Program (TAP) provides priority admission consideration for students who complete an honors program at a participating California Community College. TAP students who aren’t accepted into their first-choice major may also be considered for an alternate major, giving them a better chance of admission in UCLA’s competitive transfer process. Other State Transfer Guarantees While TAG and TAP are specific to California, many other states offer similar programs: SUNY (New York): Transfer Guarantee to a four-year SUNY school Florida’s 2+2 Transfer Program: Guaranteed university admission after earning an AA degree University of Texas CAP: Transfer agreements with top schools like UT Austin No matter where you live, many universities have formal transfer agreements that allow students to start at a more affordable college before transitioning to a top university. How to Use Student Loans (and Private Loans) Strategically The cost of attendance for college isn’t just about tuition—it includes textbooks, supplies, food, housing, and transportation. These additional expenses can add up quickly, making financial aid and scholarships essential for many students. Filing the FAFSA (Free Application for Federal Student Aid) is the first step to determining eligibility for financial aid such as: Pell Grants (need-based, no repayment required) Federal student loans (low-interest loans with flexible repayment options) Work-study programs (part-time jobs that help students earn money while in school) If grants and federal loans don’t fully cover your expenses, private student loans can help bridge the gap. Private student loans are offered by banks, credit unions, and lenders like Ascent to cover extra costs such as tuition, housing, and other school-related expenses. Unlike some federal loans, private loans may require a credit check or cosigner but often provide competitive rates and flexible repayment options. Ascent stands out by offering both cosigned and non-cosigned student loans, giving students more flexibility when financing their education. You can check your rates in less than 3 minutes without impacting your credit score. Ascent provides free resources, tools, and scholarship opportunities to help students make informed decisions about paying for college. Scholarships for Transfer Students Many universities and private organizations offer scholarships specifically for transfer students, helping reduce tuition costs and reliance on loans. Some notable scholarships include: USC Transfer Merit Scholarship UCLA Transfer Scholarship Texas Christian University Transfer Scholarships Jack Kent Cooke Foundation Undergraduate Transfer Scholarship Phi Theta Kappa (PTK) Scholarships Coca-Cola Academic Team Scholarship In addition to these, Ascent has given away over $330,000 in scholarship giveaways to date and is always adding more scholarship opportunities—open to all students, with no essay or GPA requirement. These Ascent scholarship giveaways are a great opportunity for transfer students to earn extra money toward tuition, books, or other school expenses. Smart Borrowing Tips For students who need to take out loans, borrowing wisely is key to avoiding excessive debt. Here are a few smart borrowing tips: Borrow only what you absolutely need for essential education costs Set up autopay to qualify for interest rate discounts and avoid missed payments Consider making monthly payments while in school—even small amounts like $25/month help you pay off your loan faster If you’re exploring private loans, Ascent offers flexible private student loans designed for transfer students with both cosigned and non-cosigned options, competitive rates, and repayment plans built to fit your needs. By making informed financial decisions, students can maximize the benefits of transferring while keeping costs manageable. Bonus Resource: Ascent also offers AscentUP, which is an online platform with 50+ hours of expert content designed to help students build financial skills, stay on track academically, and prepare for their careers. It’s free for borrowers and a great way to boost your financial confidence while working toward graduation, and gain access to remote, paid internship opportunities. Final Thoughts: Transferring is a Smart Financial Strategy Starting at a community college is a clear and cost-effective path to a top university while keeping your education expenses under control. When used wisely, student loans can be an investment in a better education and future earning potential. Scholarships, transfer programs like TAG and TAP, and smart borrowing strategies can help students graduate from a prestigious university with significantly less debt. Transferring is a strategic way to earn the same degree at a fraction of the cost. With the right planning, you can position yourself for success at your dream school while keeping your financial future secure. Whether you’re just starting out at community college or preparing to transfer to your dream school, Ascent is here to help. From flexible private student loans to monthly scholarships and resources like AscentUP, we’re committed to helping students fund their education and their future responsibly. Explore your options with Ascent today! About the Author Kristina Nguyen is a community college student studying Business Administration with an emphasis in Marketing. As President of the Business Club and Transfer Club at her school, she helps students navigate the transfer process, connect with industry professionals, and access scholarship resources. After graduating from high school at 16, Kristina entered community college unsure of what to expect and unaware of the many opportunities available. Now, as she prepares for her own transfer to a four-year university, she’s passionate about helping other students feel confident in their journey and realizes there’s no shame in taking an alternative route to their goals.

June 09, 2025 | By: Kristina Nguyen
What to Do if You Can't Get a Cosigner for a Student Loan
Wondering what to do if you can't find a cosigner to cosign your student loan? Read about five options you can explore!

June 09, 2025 | By: Ascent
Major Takeaways from Ascent & SAFE Credit Union Webinar: Paying for College 101
Major Takeaways from Ascent & SAFE Credit Union Webinar: Paying for College 101: Navigating FAFSA®, Scholarships & Loans With tuition costs on the rise, securing financial aid is key to making higher education more affordable and reducing financial stress. Understanding your options—grants, scholarships, work-study programs, and student loans—can help you navigate the process with confidence. We partnered with SAFE Credit Union to host a webinar, “Paying for College 101: Navigating FAFSA®, Scholarships & Loans.” We gathered expert panelists from Ascent including Erin Annis, School Support Coordinator, and Kumba McGill, Relationships Manager, to speak with the Event Host, Savannah Brown, Community Development Specialist at SAFE Credit Union. The discussion focused on demystifying financial aid, offering practical tips, guiding students through the FAFSA process, and answering valuable questions. If you missed the webinar, no worries! Feel free to watch it here. Understanding your financial aid options is crucial for making informed decisions about financing your education. Our panelists thoroughly reviewed four types of financial aid: federal and state grants, scholarships, work-study programs, and student loans. FAFSA®, also known as the Free Application for Federal Student Aid, is the key to accessing federal financial aid, including grants, scholarships, work-study, and loans, with many states and colleges using it for additional aid. Submitting it early maximizes funding opportunities, making college more affordable through need-based aid and low-interest loans. Our panelists suggest that if you have these qualities, you are eligible to submit an application: Financial Needs You need money to help pay for your education High School Diploma or GED U.S. Citizen and eligible non-Citizens Enrolled or accepted in an eligible degree or certificate program To maintain your eligibility, we advise you to do the following: Maintain a +2.0 GPA Do not default on any student loans Keep your non-citizen status intact Do not get it revoked Enroll in a qualifying degree/certificate program Reach the maximum amount you can borrow from the federal government for a lifetime To get you started, our panelists guided students and parents through the process of how to complete the FAFSA application. Before beginning the process, here are some quick notes: Students should start and complete this application as soon as possible and regardless of if they think they qualify Parents will have to fill out their own sections if students are dependent Under the age of 24, not married, no children, not in the military or homeless Students and parents must use different email addresses when creating their FSA ID Pro Tip: If you're unsure about a question, use the “Hint (?)” icons for guidance on providing exactly what is needed. Next, our panelists recommend you grab a cup of coffee or tea to carry you through this hefty process: To stay prepared, you should have the following documents beside you: 2023 federal tax forms and W-2's Untaxed income Child support Verterans’ non-educated benefits Supplemented Support Income (SSI) Cash and investment balances Your top schools Up to 20 options Financial aid offers Here are the steps to completing the FAFSA application: Log into FAFSA.gov Use your FSA ID Used as your electronic signature Save this along with your password! If you submitted FAFSA last year, use same FSA ID Fill out FAFSA Sections 36 questions Enter basic demographic information Insert your college choices Choose your dependency status Questions to determine your dependency If dependent, answers all questions “No” Parents need to fill out their portion Fill out parents’ information and income IRS DRT: invite, consent, and approval are required Fill out student income IRS DRT Sign, submit, and you are all done! Included are important due dates and deadlines to consider: 2025-2026 FAFSA forms are available now! Submit them by 11:59 CT, June 30, 2025 Schools send financial aid offers estimated by mid-to-late February Look out for the following: School/ state deadlines for institution or state aid/grant School offers Institution aid First come first serve Complete the application as soon as possible! Phew! Now that we have covered the FAFSA application process, you have access to a wide range of financial aid opportunities. In addition to federal and state grants, we’ve outlined three more key sources of financial aid to help support your education: Scholarships & Grants: “Free Money,”, no payment required! Federal & State Grants Free aid based on financial needs (ex. Pell Grants, FSEOG) Scholarships Merit-based, need-based, specialized opportunities Local & national databases provide access to thousands of scholarships Private companies and organizations To date, Ascent has given away over [scholarship_awards_amount] in scholarships to students and families. Enter now for a chance to win one of our easy-to-apply, no-essay scholarships! You do not need to have an Ascent loan to enter. Here are some strategies to secure a scholarship or grant: Tailor your applications to the specific scholarship/grant Write compelling essays that draw in your readers Track deadlines – apply early! Work Study Programs: Earn While You Learn Need-Based Aid Paid towards tuition Determined by FAFSA Part-Time Employment Earn money for expenses through on-campus employment Direct Pay & Earnings Wages paid directly to students, not applied to tuition How to Apply? Job Application is required Apply for and be hired by campus departments Funding for campus jobs Departments receive funding for positions, students actively seek & secure employment to utilize the award Student Loans: Federal vs. Private Federal (FAFSA required!) Lower interest rate, flexible repayment options Subsidized loans: interest is not charged while in school Unsubsidized loans: interest is charged while in school Private Best used after exhausting all federal aid options Compare lenders: interest rates, repayment terms, benefits Paying for college may seem overwhelming, but with the right resources and knowledge, you can navigate the financial aid process with confidence. From FAFSA® and scholarships to work-study programs and student loans, there are many ways to make higher education more affordable. By applying early, exploring all funding options, and staying informed about deadlines, you can maximize your financial aid opportunities and set yourself up for success. Remember, you're not alone on this journey! Ascent and SAFE Credit Union are here to support you with valuable resources, scholarships, and guidance.

April 03, 2025 | By: Jazmin Chen
Does Cosigning a Student Loan Affect My Credit?
The Credit Impact To Cosigning a Student Loan If you’re wondering how cosigning a student loan affects credit, the answer is—it depends. Cosigning a student loan could have positive impacts on your credit, negative impacts on your credit, or no impact on your credit. It depends on how the student borrower, in this case the student whose loan you are cosigning, makes payments. However, many factors can influence the impact of cosigning a student loan on your credit. Is a Cosigner Necessary for All Student Loans? Let’s start with the basics of what is a cosigner. A cosigner is someone who agrees to accept responsibility for the repayment of a loan if the student borrower fails to fulfill their financial obligation. Ultimately, the cosigner assumes the financial risk if the student borrower defaults on their loan or fails to make timely payments. Whether a cosigner is required will depend on the student borrower’s specific financial circumstances and requirements their lender may have. These qualifications generally include financial factors such as the student borrower's age, income, credit score, and other criteria. Even if a student qualifies for a loan without a cosigner, opting to apply with a cosigner can have additional benefits. Depending on the lender, adding a cosigner may help the student qualify for a larger loan and more favorable rates and terms. When is a Cosigner Necessary for Student Loans? Several factors determine whether a cosigner is necessary for college loans or graduate student loans. Some of the student’s criteria that might determine whether a cosigner is required include: Age – Some lenders may require cosigners for student loans if the student borrower is below a certain age, usually between 18 and 22 years old (depending on the state). Credit Score – Most lenders will require a cosigner if the student borrower has no credit history or a low credit score. Employment History – Many lenders will require a cosigner if the student borrower lacks sufficient employment history (this is a common scenario for aspiring college students just finishing high school). Income – Most lenders will require a cosigner if the applicant’s income does not meet the minimum requirement, which is very likely to be the case for many prospective students. Debt-to-Income Ratio – Most lenders will require a cosigner if the applicant’s debt-to-income ratio is above a certain threshold. Even though most private student loan lenders will require a cosigner, not all will, or at least, not in all circumstances. Ascent offers both loans with a cosigner and no-cosigner student loans, depending on your needs and eligibility. How Your Credit Score is Impacted When Cosigning a Student Loan The impact of cosigning a student loan on your credit score is determined by the financial circumstances and planning of the student borrower when paying back the loan. First, any potential cosigner should understand that the student loan application process often involves a hard credit check, also known as a hard inquiry. A hard inquiry is triggered when a lender reviews your credit score to help assess your creditworthiness. This activity will have little to no short-term impact on your credit score. However, too many hard inquiries over a short period can raise a flag to lenders that you are seeking to borrow beyond what you can pay back. In the long-term, determining whether cosigning a student loan will impact your credit score depends on whether the student loan payments are made. If the loan payments are made on time, and the loan is paid back by the required date, the cosigners’ credit score may even improve. Cosigning can help the student borrower and cosigner build credit if they have little or no credit history. On the other hand, if payments are late or the loan defaults, the student borrower and the cosigner will see this reflected on their credit report. In addition to negatively impacting your credit score, as a cosigner, you may be exposed to long-term financial and potential legal consequences should the lender or debt collectors attempt to collect the unpaid debt. Other than the potential impact on your credit score, there are other financial implications of cosigning a student loan. It is important to note that there is no special classification for cosigned student loan debt on your credit score—the borrowed amount will show up as debt just as if you took out the loan yourself. This means that the loan amount will be factored into your debt-to-income ratio, which can affect your creditworthiness until the loan is paid down or off completely. If you are considering cosigning, consider how this debt could impact your future financial opportunities, such as your ability to take out other loan types, like an auto or home loan. Requirements for Cosigning a Student Loan Each student loan provider may have unique requirements regarding who is eligible to cosign a student loan, which may vary by loan type. For example, a lender may have stricter requirements for cosigners of loans above a certain amount. However, there are some common requirements that a student loan cosigner usually needs to meet. U.S. Citizenship – Many U.S.-based lenders require cosigners to be U.S. citizens or permanent residents. Age Requirements – Most lenders have age requirements for cosigners; usually, you must be at least 18. Good Credit History – All lenders require that cosigners meet or exceed a minimum credit score; larger loans may require a higher credit score. Stable Income/Employment History – Lenders often require cosigners to have a verified stable income and employment history. Low Debt-to-Income Ratio – Most lenders will require student loan cosigners to have a debt-to-income ratio that does not exceed a maximum amount. Responsible Financial Management – Lenders often look at the cosigner’s overall financial responsibility, such as their history of making a timely loan or credit card payment. Meeting Requirements Over Time – Many lenders will require that the cosigner not only meet other requirements but have met them for a sustained period, for example, two years. Relationship to Student Borrower – Although this is not a common requirement, most cosigners are family, including parents and close friends. Benefits of Being a Student Loan Cosigner While inherent risks are associated with being a student loan cosigner, there are also potential benefits that may make this decision worthwhile. Some notable benefits of becoming a cosigner include: Facilitating Access to Education - By cosigning a student loan, you play a crucial role in helping someone pursue their education. Access to higher education can open doors to better career opportunities and personal growth for the student borrower. Building or Enhancing Credit History - As a cosigner, you contribute to establishing or improving the student borrower's credit history. Timely repayments can positively impact both the student borrower's and your credit scores, potentially leading to better financial opportunities in the future. Fostering Financial Responsibility - Acting as a cosigner provides an opportunity to mentor and guide the primary borrower through financial planning. By sharing the responsibility, you can impart valuable lessons about budgeting, responsible spending, and meeting financial obligations. Potential for Favorable Loan Terms - Your involvement as a cosigner may help secure more favorable loan terms, such as lower interest rates or more flexible repayment options. This can ease the financial burden on the student borrower and create a more manageable repayment plan. Risks of Being a Student Loan Cosigner There are several risks involved in being a student loan cosigner. Some of the most important things you need to be aware of and look out for include: Full Obligation to Cover the Debt – As a cosigner, you are equally responsible for repaying the full amount of the loan. If the student borrower fails to make payments or defaults, you are legally obligated to cover the debt, which can have long-term financial implications. Negative Impact on Your Credit Score – Being a student loan cosigner can negatively impact your credit. The impact can be especially massive if the student borrower misses payments or defaults. Difficulty in Removing Yourself from the Loan – Depending on the lender, it can be a difficult process to remove a cosigner from a student loan, even if the student borrower has established good credit. Potential Legal Challenges – If the student borrower defaults on the loan, the lender can take legal action against the cosigner. In some cases, this could even result in wage garnishment or legal judgments. What Is a Cosigner Release? A cosigner release is a provision included in some student loan agreements in which the cosigner may be removed from the loan responsibility after meeting specific qualifications. These terms will vary by lender but generally include an analysis of the student borrower’s payment history and qualifications as a solo borrower. The cosigner may be released from the loan once the student borrower meets these conditions and other required terms. If the lender approves the cosigner release, the cosigner is no longer obligated to repay the debt. Having the option of being released from the cosigner obligation reduces the long-term financial risk for the cosigner, as they will no longer be responsible for the financial consequences should the student borrower default on the loan. For example, Ascent borrowers can apply for cosigner release after making the first twelve consecutive, regularly scheduled payments and meeting other eligibility criteria. Learn More with Ascent From applying to college and beyond, Ascent supports students and their families with financial wellness resources and college loan options to help you achieve your financial goals. Learn more about our cosigned student loan options or contact us today for more questions about cosigning a loan from Ascent Funding. FAQ Whose credit is affected on a cosigned loan? The student borrower's and the cosigner’s credit are impacted when applying for a cosigned student loan, but they do so differently. The student borrower is primarily responsible for making timely payments and managing the loan. If the student borrower does so, their credit score will improve, as will the cosigner's. If the student borrower misses payments or defaults on the loan, their credit score will be negatively impacted, as will the cosigner's. However, the cosigner can make loan payments anytime to prevent a missed payment. Can you remove yourself as a cosigner? Whether or not you can remove yourself as a cosigner from a student loan depends largely on the terms of the specific loan and the lender. Removing yourself as a cosigner from a student loan may be difficult unless the lender offers a cosigner release option. How do I protect myself as a cosigner? You can protect yourself as a student loan cosigner in many ways. Some of the most effective and important include: Understand all terms of the loan Communicate openly and regularly with the student borrower about the loan and their financial situation. Review any cosigner release provision in the terms of the loan. Regularly monitor credit reports. Set up payment alerts. Maintain an emergency fund to cover payments. Know your rights and responsibilities as a cosigner. Encourage responsible borrowing.

May 28, 2025 | By: Ascent
Navigating Student Financial Aid in Changing Times: What Students and Parents Should Know
Update: On 3/20/25, President Donald Trump signed an executive order calling for the dismantling of the U.S. Department of Education (ED). He said during a White House event on 3/21/25 that student loans will be handled by the Small Business Administration. Read the latest news coverage here. What’s Happening with the Department of Education Every year, more than $120 billion in federal student aid moves through the U.S. Department of Education (ED) to help nearly 10 million students and their families pay for college. And while the system has had its share of administrative headaches in the past few years, it has built reliable pathways connecting students to grants, loans, and work-study jobs at thousands of schools across the nation. As you may have heard, the Trump administration is reportedly preparing an executive order that would attempt to downsize or potentially eliminate the ED, a department that manages roughly $1.7 trillion in federal student loans. This proposal is more than a policy adjustment—it would be a massive shift that could impact everything from how students apply for financial aid to the protections borrowers have. As of publication on March 13, 2025, the Trump administration initiated mass layoffs at the ED, reducing its workforce by nearly 50%. The headlines keep coming, and sifting through noise can be overwhelming when trying to grasp how it might impact your financial future. But, if you're one of the millions of students or borrowers counting on federal aid to fund your education, the truth is that these changes could directly affect your education plans and how you pay for your degree, so it’s important to stay informed. What This Could Mean For Your Education Funding If the Trump administration succeeds in dismantling the ED, what does this mean for you as a student or borrower? You've probably gotten used to filling out the Free Application for Federal Student Aid (FAFSA) a certain way, knowing who to call with questions, and understanding when your aid will arrive. With the proposed changes, financial aid could be moved to a different agency or even to state governments. And as we saw in 2024 following the troubled rollout of the FAFSA Simplification Act, changes to established processes can send ripples through the student loan ecosystem, delaying access to critical financial aid. Shift Toward Private Lenders One proposal getting a lot of attention would shift student lending from the federal government to private lenders, essentially privatizing the student loan market. If private lenders take a bigger role in financial aid, one result could be a surge of loan options for students and their families, including more flexibility in loan options and terms or specialized loans for certain majors. But there’s a trade-off. Private lenders typically have stricter credit requirements than federal programs, which means credit score and income could matter more. Given many undergraduates are just beginning to shape their career paths and may have little to no credit history or income, they may need to apply with a cosigner in order to qualify. Increase in Interest Rates & Variability If federal lending moves entirely to the private sector, borrowers might also be concerned that interest rates will increase and be more varied across different lenders and loan types. While federal loans offer the same fixed rate to everyone, private lenders adjust their rates based on a borrower’s credit profile. And, interest rates are already climbing across the board. In fact, 10-year Treasury yields (which influence all types of lending rates) have hit their highest point since 2007, which means even existing variable-rate private loans could get more expensive as the market shifts. Just like buying a house, timing matters, and the market is heating up. It will be more important than ever to choose the right private lender based not only on interest rates, but the terms and benefits they provide, such as automatic payment discounts, cash back at graduation, or access to skills training and career coaching (which we provide all borrowers through AscentUP). Fewer Paths to Loan Forgiveness For those of you already juggling federal loan repayment, you know the drill—just when you figure out the system, it changes again. The SAVE plan provides for lower monthly payments, faster paths to forgiveness, and protection from ballooning interest, but is temporarily unavailable and on shaky ground. All borrowers currently enrolled in the SAVE plan have been automatically placed into an interest-free forbearance and the time spent does not provide credit toward Public Service Loan Forgiveness (PSLF). If the SAVE plan is blocked permanently, then borrowers could face higher monthly payments, longer loan terms, and uncertainty about loan forgiveness. If you've been working toward Public Service Loan Forgiveness (PSLF), know that there is a possibility the PSLF program could be scaled back or eliminated. There is a chance that current borrowers could be grandfathered in—but you'll want to stay on top of announcements. While Ascent’s private education loans function independently from federal student loan programs, when major policy shifts occur, these changes can disrupt the entire infrastructure and potentially reshape some or all of the options available to students and their families. When a key player changes the rules of the game—all the players are impacted and have choices to make. What You Can Do We've all dealt with uncertainty before, and while it's never comfortable, you will get through it. Here are some steps you can take to help prepare for potential changes in policy: Get your paperwork in order: Organize your records of the federal aid you've received, such as award letters and loan statements, in one place. Know your numbers: Make sure you understand your current loan terms, interest rates, and repayment timeline. Knowing where your current loans stand will help you adapt if there is a change in policy. Understand how interest rates work: If there are major changes in the market, knowing how interest rates can impact your loan balance could become even more important. Here’s how to calculate your student loan interest: Find your daily interest rate (take your annual rate and divide by 365) Calculate daily interest accrual (multiply your loan balance by that daily rate) Figure monthly payments (multiply daily accrual by days in your billing cycle) Stay informed about policy changes: Follow trusted sources for updates and bookmark reliable financial aid websites like https://studentaid.gov/. Don't panic: Remember, most policy shifts roll out gradually. The changes we're discussing would likely phase in between now and October 2025, with full implementation expected by July 1, 2026. There is time to adapt and adjust your financial plans, if necessary. Explore your funding options: Understand the alternative funding options that might be available to you beyond federal student loans, including private student loans, grants, scholarships, and work-study programs. Ascent is Here to Help Whatever happens with the Department of Education, Ascent is committed to helping students and their families access and fund higher education responsibly. The landscape may change, but our priority—your educational and financial success—will not. We're in this together.

June 09, 2025 | By: Ken Ruggiero, Ascent Co-Founder and CEO