Private Student Loan Advice & College Financing Resources

Ascent, a leading provider of innovative financial products and student support services that enable more students to access education and achieve academic and economic success, has been named one of the 2026 Best Places to Work in Fintech, an awards program created in 2017 by Arizent and Best Companies Group.  This annual survey and awards program recognizes the top employers in the financial technology industry. Honorees operate across a wide range of financial services sectors, including banking, mortgages, insurance, payments and financial advisory. To be eligible, companies must provide technology products or services that support financial services delivery, have been in business for at least one year, and employ at least 15 people in the U.S.  "Each year, the Best Places to Work in Financial Technology offers a glimpse into the practices of fintechs whose employees rate their workplaces highly," said Penny Crosman, executive editor of technology at American Banker. "This year, employees appear to value remote work and schedule flexibility above all else, at a time when many traditional financial firms have enforced strict return-to-work policies."  Companies from across the United States entered a two-part survey process to determine Arizent’s Best Places to Work in Fintech. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process, analyzed the data and determined the final ranking.  “We’re proud to have built a workplace where employees feel trusted, supported, and genuinely connected to the work they do,” said Emily Skoubo, Director of Human Resources at Ascent. “This recognition reflects the collaborative culture our team has created together and our continued focus on providing an environment where people can grow, contribute, and feel valued.”  For more information on Arizent’s Best Places to Work in Fintech program, including full eligibility criteria, visit www.BestPlacestoWorkFinTech.com or contact Penny Crosman at [email protected].  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.  

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. 

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. 

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. 

Wondering what to do if you can't find a cosigner to cosign your student loan? Read about five options you can explore!

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.

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. 

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.

As a parent or guardian of a college-bound student, it’s important to ensure your child is financially prepared to cover the cost of higher education. And as Decision Day approaches, you might wonder whether your child can get a student loan on their own, or if they will need your financial support. Read on to learn if parents or guardians can apply for student loans, which student loan options are available to parents, and what to be aware of when taking out a student loan in your name. Key Takeaways Parents, guardians, or sponsors can support students by cosigning private loans or taking out loans in their name, such as federal Parent PLUS Loans.  Parent PLUS loans come with fixed interest rates, income-based repayment options, and potential loan forgiveness. Private student loans vary by lender but may offer higher loan limits, lower interest rates, and cosigner release. Parent-borrowed loans may offer better terms based on credit, but also come with full repayment responsibility. Compare interest rates, terms, and protections carefully. A financial aid advisor can help guide your decision. Can a Parent or Guardian Take Out a Student Loan for Their Child? Parents or guardians can take out a student loan for their child, which can be beneficial for several reasons. One key advantage is that you may qualify for a substantially larger loan amount than your child could on their own. Creditworthiness is generally a major factor in the loan approval process, and it is not uncommon for students to have little or no credit history. In some cases, students may be unable to qualify as solo borrowers. You may also qualify for a lower interest rate on a student loan than your child could for similar reasons. Securing a lower interest rate can save your child a considerable amount over the lifetime of the loan. Additionally, depending on your qualifications, you could receive more favorable loan terms in other ways, such as more flexible repayment options. Applying for a parent student loan or a cosigned student loan are two options parents can consider, with one major difference. With a parent student loan, you (the parent), or the grandparent, guardian, or sponsor taking out the loan is solely responsible for repayment. With a cosigned student loan, on the other hand, you are accepting shared responsibility for repaying the loan if the primary borrower cannot.  A parent student loan does not require the student to qualify, nor does the student carry any financial obligation to repay the loan. Opting for a cosigned student loan, however, can help your child build their credit history, if the loan is paid back on time. Types of Student Loans Available to Parents Two primary types of student loans are available to parents or guardians: federal parent PLUS loans and private student loans.  Federal Parent PLUS Loans Federal parent PLUS loans, also known as Direct PLUS loans, are provided by the federal government and are designed for biological or adoptive parents. Parent PLUS loans cover the difference between the amount of federal student aid a student receives and the full cost of attendance, which is also the maximum amount of a parent PLUS loan. To apply for a parent PLUS loan, your child must fill out and submit the Free Application for Federal Student Aid (FAFSA®).  Like any financial decision, taking out a parent PLUS loan should be evaluated carefully. While this loan type may provide more funding than other financial aid programs, parents should be conscious of borrowing only what they need—and can repay—to avoid long-term financial repercussions. Private Student Loans Various lenders, such as banks, credit unions, and other organizations, provide private student loans directly to parents, or as a cosigner. The application process and eligibility requirements vary by lender and loan type, as do the loan terms. Some lenders, like Ascent, also offer undergraduate student loans designed specifically for parents or guardians and cosigned student loans.  Private Student Loans for Parents vs. Parent PLUS Loans There are several key differences between private student loans and federal parent PLUS loans.  Advantages of parent PLUS loans include: Interest Rates: Whereas private loan rates will depend heavily on the market and the borrower’s qualifications, a parent PLUS loan offers a fixed interest rate set by the federal government.   Repayment Plans: Parent PLUS loans have various repayment plans, including standard, graduated, and income-contingent options. These plans provide flexibility for those looking for a plan that most closely aligns with their financial situation. Deferment and Forbearance Options: Parent PLUS loans typically have many deferment and forbearance options, which can be a lifeline should you experience economic hardship. Loan Forgiveness Programs: Parent PLUS loans may be eligible for the Public Service Loan Forgiveness (PSLF) program, which is highly advantageous for parents with qualifying public service jobs. Key features of private student loans include: Loan Terms: Private student loans offer more variety in terms of interest rates, and repayment plans, meaning that parents choose the best terms for their financial situation. Cosigner Release Options: Some private student loans offer the option of releasing the parent cosigner from loan obligations after the student meets certain loan repayment criteria. Approval Process Timeline: Private loans typically have faster application and approval processes than federal loans. Lending Limits: Private loans may allow parents to borrow significantly higher amounts, in some cases, the full cost of attendance. It’s important to note that the amount a particular parent borrower qualifies for will vary based on creditworthiness and lender. Additional benefits: Private student loan providers often offer additional benefits including cash back rewards, automatic payment discounts, or access to coaching resources like AscentUP. Pros and Cons of Taking the Loan Out in Your Name While there are many advantages to taking out a student loan for your child in your name, there are also some disadvantages. Let’s explore the pros and cons. Benefits of Parents Taking out a Student Loan Access to More Funding: Parents typically have more established credit histories than their children, so they can often qualify for higher loan amounts. Potentially Lower Interest Rates: While the federal government sets parent PLUS loans’ fixed interest rates, parents can often qualify for lower interest rates than their children on private loans. Alleviating Immediate Debt for the Student: A loan in your name removes some of the student's immediate financial burden, allowing them to focus on their studies. Things to be Mindful of When Taking out a Student Loan Responsibility Falls on You: You are ultimately responsible for repaying the loan, regardless if your student completes their program  Impact on Your Credit: Taking out a loan can impact your credit, especially if it is for a large amount. Late or missed payments can hurt your credit score, and the loan will impact your debt-to-income ratio (DTI), which can impact your ability to secure other forms of credit. Opportunity for Open Discussion around Finances  with Your Child: Mixing family and finances can be tricky, and the financial obligation of the loan should be met with openness and honesty. Open communication about expectations, repayment plans, and financial responsibilities can help prevent misunderstandings.  Overview of the Student Loan Application Process for Parents Every private student loan has a different application process, so you must contact each lender to discuss the process for their graduate or undergraduate loans. However, the application process for federal parent PLUS loans is similar. For parent PLUS loans, the steps look like this: Complete the FAFSA. This determines eligibility for most federal student aid programs. Log in to StudentAid.gov. After submitting the FAFSA, use your FSA ID to log in to the Federal Student Aid website. Select “Apply for a PLUS Loan.” Use the “Apply for Aid” tab and choose “Apply for a Parent PLUS Loan” for the relevant award year. Complete the parent PLUS loan application. Provide the required personal and financial information on the application form, such as income, employment, and contact information. You must undergo a credit check. Unlike other federal student loans, the Department of Education assesses your credit history to determine eligibility. Sign the Master Promissory Note (MPN). If approved, you must sign the Master Promissory Note on the studentaid.gov website. This legal document outlines the terms and conditions of the loan and documents your promise to repay it. Receive a loan decision. The Department of Education will notify you whether you’ve been approved for the loan, along with the loan amount and terms. Accept or decline the loan. You can accept the full loan amount, choose a lower amount based on your child’s specific needs, or decline the loan if you no longer need it or have found a better option. Tips on How to Determine Which Type of Student Loan Is Right for Parents Now that we’ve established that parents can take out student loans for their children, the next step is figuring out which loan type best suits their needs. Here are some tips for determining which loan is best for your financial future and your child’s education. Evaluate Your Financial Situation. Assess your income, savings, existing debts, and overall financial capacity to determine what loan repayments you can afford. Research Available Options. Understand federal and private options regarding interest rates, repayment plans, borrower protections, and other terms to determine which best aligns with your needs. Compare Interest Rates. Consider whether fixed or variable rates are more advantageous to you and the specific rates offered on specific loans. For example, if you value the predictability of a fixed rate with ample deferment and forbearance options, a parent PLUS loan might be your best bet. Compare Loan Limits to Need. Different loans have different limits, which may or may not meet your child’s needs. Understand Repayment Options. Different loans offer different repayment options, some of which may be more advantageous for your situation. Assess Your Creditworthiness. Evaluate your credit history and credit score to understand how they might impact your loan approval, interest rates, and available loan terms. Consider Cosigning. Evaluate whether it would be better to be a cosigner yourself or find another cosigner, especially one with a strong credit history. Review Available Borrower Protections. Consider whether deferment, forbearance, loan forgiveness programs, and cosigner releases are available. Seek Professional Advice. Financial aid advisors and student loan experts can provide personalized guidance based on your circumstances and needs. Contact our support team today!  Learn More with Ascent Ascent is committed to helping students achieve their goals in college and beyond. That's why we offer a library of financial wellness resources and a variety of loan options to meet your financial needs.  Learn more about our college loan options for parents. FAQ Do parents need to cosign student loans for their children? Parents often do not need to cosign student loans for their children if the student borrower can qualify independently. However, cosigning a loan for your child may increase the total loan amount available, reduce interest rates, and secure more favorable terms. Can my child get a student loan on their own? Whether your child can get a student loan independently depends on several factors, including their financial need, creditworthiness, credit score, and the school’s total attendance costs. The best way to determine this is to have them fill out the FAFSA, apply for federal student aid, and then apply for private student loans to address any remaining funding gaps. Application criteria will also vary by lender. How do you get private student loans for parents with bad credit? Although getting private student loans for parents with bad credit can be more difficult, there are options. Some lenders may have more flexible credit requirements or allow collateral to secure the loan. You can also investigate lenders who specialize in helping borrowers with bad credit.

When I started college, I knew I’d be taking on student loans. However, I didn’t realize just how much it would weigh on my mind. As much as I try to focus on my classes, internship, and the overall plans for my future, the looming cloud of student debt has always been there. It’s hard to enjoy the moments of college when happiness is tied to a price tag. Over time, I’ve discovered some strategies, and small mindset shifts that have helped manage this anxiety.   If you’re dealing with similar feelings, know you are not alone: according to WalletHub, 70% of students are stressed about student loans-. Loan anxiety is a shared experience for many students trying to navigate higher education. The feelings of long-term debt, worry of future job security, and fear of falling behind on payments are all common. Here are steps I’ve taken to better manage that anxiety:   1) Understand the Source   For me, student loan stress comes from different sources. First, there’s the long-term commitment, knowing I’ll be making payments for years, and potentially decades, after graduation. I worry about missing payments or how one mistake can ruin things such as my credit score. Another stress I deal with is finding a job, one that can pay me enough to pay off my loans. Whether these uncertainties come from family, friends, or external pressures, they all add fuel to my anxiety.   Thankfully, there are resources out there to help ease some of the stress. Ascent has great tools available to borrowers, including AscentUP, an online platform with over 50 hours of on-demand content from industry experts that supports students with financial wellness and aims to help students graduate faster, get a job that matches their needs, and earn a higher starting salary. AscentUP* helps borrowers with their  academics, identifying career goals, and building confidence on how to save. It is self-paced and can be done anywhere from your mobile device.   2) Educate Yourself on Loans & Finances  One of the best ways I’ve found to manage student loan anxiety is to understand exactly what I owe and how the repayment process works. Each loan type is different; whether you have taken out federal or private loans, understanding the type, term, interest rate, and repayment options will help your loans feel more manageable.   For Federal Student loans, you have options:   SAVE: Repayment Option: This is an income-driven repayment plan. FASFA describes it as a “plan [that] calculates your monthly payment amount based on your income and family size.” The benefits of the SAVE plan have interesting benefits. If you make your full monthly payment but fall short on paying for your monthly interest, the government will cover it! Borrowers who originally borrowed $12,000 or less receive forgiveness after 10 years.   Fixed Repayment: You choose a base of monthly payments based on your income. When it comes to Fixed Repayment, there are three types.   Standard Repayment Plan: A fixed monthly payment for a 10-year period. If you don’t choose a repayment plan, your loan servicer will automatically enroll you in this option. - https://studentaid.gov/manage-loans/repayment/servicers   Graduated Repayment Plan: Lower payments that increase every two years, designed to be able to financially support yourself and gradually afford higher payments.  Extended Repayment Plan: Offers lower fixed payments over a longer term, which is helpful for students pursuing lower-paying careers.  TIP: What is Forbearance? Life can be unpredictable, especially when dealing with student loans. Forbearance is built for when life throws you curveballs and you need a temporary pause or reduction in payments.   I know this seems like a lot. And each loan is different, but this is why it’s important to do research to understand your loan type. It may seem insignificant now, but loans add up and your research could potentially save hundreds, if not thousands, of dollars. The biggest takeaway is that, unlike Federal Student Loans, private student loans vary depending on the lender chosen. This is where private student loans, like Ascent, can help. Ascent offers multiple options for undergraduate loans  of students to help meet their unique financial needs.  For Ascent Private Student there, you also have many options:  Cosigned Loans: Ideal for students with limited credit history or income. Allows students to have a credit worthy cosigner such as a parent or guardian.   Non-Cosigned Loans Based on Credit: Available for students who qualify independently based on their own credit score and income. This is a great opportunity for a student to take full responsibility for their loans  Non-Cosigned Outcomes Loan: This is specifically designed for juniors and seniors in college. It is an option for those that want to still support themselves ideally but might not have the facts to back it up. Instead of relying on credit scores, eligibly is determined by factors such as academic performance and projected future income.    Parent Loans: This option allows parents to take out a loan on behalf of their child to help educational costs. It offers competitive rates and flexible repayment options tailored to parents.  While in school, even small payments can make a big difference. Whether it’s $1, $10, or $20 a month, every contribution helps reduce the overall interest on your loan over time. Ascent allows you to make these manageable payments while still in school, giving you a head start on repayment and potentially saving you hundreds or even thousands of dollars in the long run. It's a simple way to take control of your financial future without feeling overwhelmed. I understand how easy it is to get overwhelmed when there is so much information coming to you all at once- that's exactly why I’m here to help simplify things for you.  3) Building Your Finances   Starting your financial journey can be scary and intimidating. If you're not sure where to start, Ascent is here to help. With any journey you take, you have to know where to go. Trust me, as a fellow student I have been exactly where you are now. While feelings like overwhelm never disappear, there are ways to control them. Here are my personally- tested and proven tips to help during college's challenging moments.   Start by creating a goal and tracking your progress.  Figure out where you are financially and where you want to be to help set your goal. If you are looking for guidance with practical tips  the most effective is to ask students like yourself.  We have a huge list of tips for budgeting money as a college student. Once you decide what you are working towards, you can start tracking it. It will be hard to get into the habit, but forming healthy spending habits will save you in the long run.   Check for student discounts and promo codes.  Many popular companies, from streaming services like Hulu and Spotify to large tech companies such as Apple and Microsoft offer discounts for students.  Some perks include free trial or reduced subscriptions. Most times to take advantage of these deals all you have to do is present your Student ID or sign in using your school email address. Here is a list of my favorite deals.  Apply for scholarships.   Take advantage of scholarships to reduce your reliance on loans. Start by researching options offered by your school, local organizations, and online. There are countless databases that will offer you aid based on your background, major, or even personal interest.  Even small scholarships add up over time, and every dollar you earn through scholarships is one less dollar you must borrow.   TIP: Never stop applying for scholarships!! Check out these easy no-essay scholarships from Ascent.  Ascent has awarded over [scholarship_awards_amount] in scholarships to students.   4) Seeking Support and Resources   Student loans can feel overwhelming, and like any kind of stress, it’s necessary to keep it all bottled up. Make sure you’re sharing your concerns and frustrations with someone you trust– whether you speak to your parents, friends, or counselor, it’s a big help to get it off your chest. And if there is no one in person you can speak to there are forums with students and professionals on College Confidential about how to deal with this anxiety.  Managing student loans and the anxiety that comes with loans as it is an ongoing process; but not an impossible one. With the right tools and mindset, you can focus on moving forward with your education and future! But most critically, remind yourself that you are not alone in this journey. College is about growth and discovery, so don’t let student loans take away from what you can accomplish. College is about growth and discovery so do not let the stress of loans take away from that experience. With the right plan and support you can embrace on all the different experiences and achievements college has to offer.  About the author:   Maelia (Mia) Madariaga-Ilagan is a fourth-year student at University of San Diego (USD) pursuing a degree in Marketing with a minor focus in Visual Arts. Coming from a large family where all siblings are encouraged to attend college, she understands firsthand the financial pressure that student loans can bring. However, she believes that the struggle of student loans should not shadow the opportunities college brings. During her time at USD, Mia has excelled both academically and within the campus community. She has served as the Public Relations Chair for USD Associated Students and become an active member of many student organizations. These experiences and many more have shaped her growth and given her opportunities to thrive.

More high school grads are going straight to community college after graduation. Learn why students are choosing community college after high school.