Private Student Loan Advice & College Financing Resources

Paying for college can feel stressful, especially when your family’s finances don’t fit neatly into a form. Maybe there has been a job loss, or your income looks different now than it did on your tax return, or your family owns a small business and the numbers need a little more context.  When that happens, it's normal to have big questions: Will we qualify for financial aid? What happens if our circumstances changed? Can we ask the school to take another look?  The reassuring answer is “Yes! You can ask questions!” The FAFSA is still the place to start, but if job loss, small business ownership, changing circumstances, or another financial challenge affects your ability to pay, your school’s financial aid office may be able to explain whether a special circumstances review or financial aid appeal is available.  This guide can help your family feel more prepared, know what to ask, and understand how to work with schools if your financial situation needs more explanation.  Start With the FAFSA, Even if Your Family’s Situation Feels Complicated  The FAFSA gives schools the information they need to review federal financial aid eligibility. Even if your family expects to explain more later, submitting the FAFSA accurately is usually the first step.  Families often have follow-up questions when their situation includes:  Job loss or reduced income  Changing circumstances that affect what your family can pay  Small business ownership, business income, or business assets  If any of these apply, you don’t have to figure it all out at once. Complete the FAFSA as accurately as you can, then ask each school what review or appeal options may be available.  Don’t Rule Yourself Out Before You Know Your Options  Families sometimes assume they won’t qualify for help, especially if their income looks too high, they own a business, or their situation doesn’t fit neatly into the FAFSA. But it’s worth taking the first step before ruling yourself out.  Skipping the FAFSA can limit what your student may be considered for, including grants, work-study, federal student loans, state aid, school-based aid, and some scholarships. Submitting it gives your family real numbers to review instead of guessing what may be available.  After you submit, compare the results with what your family can realistically afford. If something important needs more explanation, ask the school whether a special circumstances review or financial aid appeal is available.  Some schools may call this a financial aid appeal, special circumstances review, or professional judgment review. The name may vary, but the goal is similar: helping the school understand information the FAFSA alone may not show.  If Your Family Needs More Context, Consider a Financial Aid Appeal  A financial aid appeal is a way to ask the school to review information that may not be fully explained by the FAFSA alone. It can give families a path to share important context, such as job loss, reduced income, changing circumstances, or a financial situation that needs more explanation.  An appeal isn’t a guarantee that your aid will change. It’s a way to ask the school to review new, unusual, or changed circumstances that weren’t fully reflected on your FAFSA.  Families may consider asking about an appeal if they experienced:  Job loss  Significant income reduction  Small business ownership, business income, or business assets that need more explanation  The school may ask for documentation, such as a termination letter, recent pay stubs, tax documents, a written explanation, medical bills, or other records. Requirements vary by school, so ask what they need before sending anything.  Had a Job Loss or Income Change? Ask How to Explain It  If your family’s income changed after the tax year used on the FAFSA, ask the financial aid office for help on how to best explain what changed. The school may be able to review your current situation through a special circumstances process.  After the FAFSA is submitted, you can keep the message simple:  “We submitted the FAFSA using the required financial information, but our family’s income has changed because of a recent job loss. Is there a process to have our financial aid reviewed based on our current situation?”  From there, the school can tell you what documentation is needed and what timeline to expect, so you aren’t left guessing about the next step.  Own a Business? Ask How the School Reviews It  If your family owns a small business, don’t assume the FAFSA tells the full story on its own. It’s worth asking the school how business income, assets, and documentation are reviewed.  Changes to the financial aid process have also affected how some business assets may be considered. Under the Student Aid Index, or SAI, some exclusions that existed under the old Expected Family Contribution, or EFC, calculation have changed.  Not every small business owner will be affected the same way, but it’s worth completing the FAFSA carefully, reviewing any school-specific requirements, and asking how business income, assets, or documentation will be reviewed.  A helpful question to ask:  “We own a small business, and I want to make sure we understand how that information is being reviewed. Are there any additional forms, documentation, or institutional requirements we should know about?”  This is especially important because some colleges may use FAFSA information alongside their own institutional process when awarding certain types of aid.  If the Numbers Still Do Not Make Sense, Ask What Can Be Reviewed  Your Student Aid Index, or SAI, can affect financial aid eligibility, but it isn’t the amount your family is expected to pay. If your family has questions about how job loss, small business ownership, or changing circumstances were considered, ask the school what review options exist.  The school may not be able to change your aid offer, and not every appeal results in more aid. But asking can help your family understand what was reviewed, what documentation may be needed, and what options are still worth comparing.  Before You Ask for a Review, Gather the Details That Help Explain the Situation  You don’t need to have every answer before you contact the school. But gathering a few clear details can make the conversation easier and help the financial aid office understand what you’re asking them to review.  You may be asked to include:  A short explanation of what changed  The date the change happened  How the change affected your family’s income or ability to pay  Supporting documentation  Any forms required by the school  Your student ID or application information  Keep your explanation honest and straightforward. You don’t need to write a dramatic letter. The goal is to help the school understand the situation, when it happened, and how it affects your family’s ability to pay for college.  Not Sure What to Ask the Financial Aid Office? Start Here  You don’t have to know the right financial aid language before asking for help. After you submit the FAFSA, these questions can help you start the conversation:  Do you offer a special circumstances or financial aid appeal process?  What situations qualify for review?  What documentation should we provide?  Is there a deadline to submit an appeal?  How long does the review usually take?  Could this review affect grants, scholarships, work-study, or loans?  If the appeal doesn’t change our aid, what other options should we consider?  Are there payment plans, emergency aid, or school-based scholarships available?  These conversations can feel intimidating, but financial aid offices expect families to have questions. Asking early can help you feel more informed, more prepared, and less alone in the process.  If Your Aid Still Leaves a Gap, You Can Plan From There  Sometimes a review doesn’t lead to more aid. If that happens, your family can still use what you learned to compare next steps and decide how to cover the remaining balance.  To plan for the remaining balance, you can:  Review scholarships and grants you may still be able to apply for, including Ascent’s scholarship opportunities  Ask about school-based or departmental scholarships  Explore payment plans offered by the school  Compare housing, meal plan, transportation, and textbook costs  Review federal student loan options  Look at the remaining gap after free aid and available resources  Ascent also offers no-essay scholarship opportunities that are quick to enter. See current scholarships here.  If there is still a balance left, private student loans may be one option to compare after scholarships, grants, savings, payment plans, and federal aid have been reviewed. Before borrowing, compare eligibility requirements, repayment expectations, interest rates, fees, and total loan cost so your family can make an informed decision.  You can also use Ascent’s student loan calculator to estimate potential monthly payments and better understand how different loan amounts, terms, and interest rates may affect your total cost.  Bottom Line: Start With FAFSA, Then Work With the School  If your family is dealing with job loss, small business ownership, changing circumstances, or questions about whether to appeal, start by submitting the FAFSA. Then contact the financial aid office at each school to ask what review process may be available.  You may not get every answer right away, and an appeal isn’t a guarantee of more aid. But asking early can help your family understand the process, prepare the right documentation, and make a plan with more confidence.  Want a deeper walkthrough of recent federal student aid changes, including borrowing limits, grant eligibility, repayment options, and planning steps for families? Watch Ascent’s Financial Aid Changes for 2026: What Families Should Know webinar, here. 

Trying to figure out whether your family will qualify for financial aid can feel confusing, especially when college costs already feel high. You may be wondering if your income is too high, whether savings will count against you, or what your FAFSA® results actually mean.  The encouraging part for many families is that eligibility is based on more than just what a household earns. Schools also review FAFSA details like certain assets, household information, your Student Aid Index, and the school’s cost of attendance. Completing the FAFSA gives your family real numbers to work with, instead of trying to guess what may be available.  If you’re trying to understand what your family may qualify for, start here. We’ll walk through the pieces that can affect your aid offer, including income, assets, SAI, Pell Grants, and school costs, so you know what to look for and what questions to ask next.  Start with the FAFSA Before You Rule Out Aid  The FAFSA is the best first step if you want to see what financial aid may be available. The FAFSA, or Free Application for Federal Student Aid, is the form students and families use to apply for federal financial aid, including grants, work-study, and federal student loans. Many states, colleges, and scholarship programs also use FAFSA information when deciding how to award aid.  If you are not sure whether your family will qualify, submitting the FAFSA is still an important first step. Some aid cannot be considered until the FAFSA is complete, and the results can give your family a clearer picture of the options available before you make decisions about how to pay for college.  Your SAI Is Not Your Bill  Your Student Aid Index can affect need-based aid, but it is not the amount your family will be expected to pay. After you submit the FAFSA, you’ll receive a FAFSA Submission Summary that includes your Student Aid Index, or SAI. The SAI replaced the Expected Family Contribution, or EFC, and is used by schools to help determine financial aid eligibility.  One helpful thing to know: your SAI is not a bill and it is not the exact amount your family will pay. It is an eligibility number schools use with their cost of attendance to help calculate need-based aid, including certain grants and school-based aid.  In general, a lower SAI may mean a student qualifies for more need-based aid, while a higher SAI may mean less need-based aid. But SAI is only one part of the decision. The school’s cost, available aid, and other FAFSA details can all affect the final offer.  For more information on SAI, check out our guide, How Your SAI is Calculated, here.  What Can Affect the Aid Your Family Receives  Your final aid offer depends on several details, which is why it can be hard to predict using income alone. Common factors may include:  Family income and certain untaxed income  Assets that must be reported on the FAFSA  Household size and family circumstances  The school’s total cost of attendance  Enrollment status, such as full-time or part-time enrollment  Scholarships, grants, and other aid already awarded  Think Your Income Is Too High for Financial Aid? Start Here  This is a question almost every family asks, and the answer is not always as simple as it seems.  There is not one income number that automatically rules a family out of all financial aid. Income matters, but so do household size, certain assets, school cost, and other family details reported on the FAFSA.  Even if your family does not qualify for every type of need-based aid, completing the FAFSA can still help you see what options are available. Depending on your situation, that may include federal student loans, merit scholarships, state aid, school-based aid, payment plans, or private student loans.  How Savings and Assets Can Affect Your Eligibility  Savings and assets can play a role in financial aid eligibility, but they do not all count the same way. The FAFSA may ask families to report savings, investments, and business or farm information in certain situations. What you report can depend on your family’s specific circumstances.  If you are unsure what should be included, review the FAFSA instructions or reach out to the school’s financial aid office. They can help you understand what information is needed so your family’s aid offer is based on the most accurate details.  Could a Pell Grant Help Lower Your College Costs?  A Pell Grant can make college more affordable because it generally does not need to be repaid. Eligibility is based on FAFSA information and may depend on factors like SAI, income, family size, enrollment status, and the school’s cost of attendance.  Because Pell Grant eligibility is not based on one simple income cutoff, it is worth completing the FAFSA before assuming your student will or will not qualify. The FAFSA results and each school’s aid offer will give you the clearest answer.  Why Your Aid Offer May Look Different at Each School  Your aid offer may look different from another family’s, even if your incomes are similar. Assets, household details, enrollment plans, school costs, scholarships, and other FAFSA information can all affect the final result.  Aid can also vary by school. One college may have a higher cost of attendance or more institutional aid available than another, which means the same FAFSA information may lead to different offers at different schools.  How 2026 Financial Aid Changes Could Affect Your Planning  If your family is planning for the 2026–27 school year, recent federal student aid updates are worth paying attention to. They may affect loan limits, grant eligibility, repayment options, and how much is left to cover after scholarships, grants, and federal aid are applied.  If your family’s financial situation has changed because of a job loss, income change, or another major circumstance, contact the financial aid office at the schools you are considering. Many schools have a process for reviewing special circumstances, and reaching out early can help you understand what options may be available.  Once Your Aid Offer Arrives, Here’s How to Review It  Your aid offer can help you see what college may actually cost, but it helps to slow down and separate the pieces. Start by comparing the school’s total cost of attendance with the aid you have been awarded. Look first at money that does not need to be repaid, like scholarships and grants. Then review federal aid, work-study, payment plans, and other options the school offers. If there is still a remaining balance, that amount is your funding gap.  A simple way to think about it is:  Cost of attendance − scholarships, grants, and other aid = amount left to cover  From there, you can compare the remaining options and decide what works best for your family’s budget, goals, and comfort level.  The Bottom Line: Apply, Review, and Ask Questions Early  The best way to understand your family’s options is to complete the FAFSA, review each aid offer carefully, and ask questions early. Financial aid eligibility depends on your family’s full financial picture, your school, and the information reported on the FAFSA, so the most helpful answer is usually the one based on your actual results.  Want a deeper walkthrough of what changed? Ascent’s Financial Aid Changes for 2026: What Families Should Know webinar explains the federal student aid updates that began July 1, 2026, including how much families can borrow, who may qualify for grants, and what repayment options may look like.  It can be a helpful next step if you want to understand how these changes may affect your family’s college planning.  Financial aid FAQs  Is my Student Aid Index the amount my family will pay?  No. Your Student Aid Index is not a bill, and it is not the exact amount your family will owe. Think of it as one number schools use to understand financial need and calculate aid. Your actual costs will depend on the school’s cost of attendance, the aid you receive, and any remaining balance after scholarships, grants, and other aid are applied.  Will the 2026 financial aid changes affect every family?  Not always. Some families may not notice much of a difference, while others may need to look more closely at their aid offer, borrowing needs, or grant eligibility. The best place to start is your student’s actual financial aid offer, since that will show what is available and what your family may still need to plan for.  What should families look for in a financial aid offer?  Start with the basics: how much of the offer is scholarships and grants, how much is loans, what costs are covered, and what costs are not. If there is still a balance left over, that is the amount your family can plan for next.  How do families usually cover a funding gap?  Many families use a mix of resources to pay for college, such as scholarships, grants, federal aid, savings, income, payment plans, and, when needed, additional financing options. Once you know the gap, you can compare what fits your family’s budget and comfort level. 

We’re proud to share that Ascent has been recognized as one of Southern California’s Best Places to Work by Best Companies Group, an independent organization that honors companies creating strong workplace experiences for their teams.  Best Places to Work SoCal is a research-driven program from Best Companies Group that reviews participating companies’ practices, programs, and benefits, then gathers employee feedback about their workplace experience. Companies that meet the program’s criteria are named among the Best Places to Work SoCal. For Ascent, this recognition reflects more than our benefits or programs. It reflects the people who make our work meaningful every day.  At Ascent, we’re focused on building a workplace where people feel supported, trusted, and able to grow. Our mission is to help students access education and move toward academic and economic success, and we know that work starts with our own team. When employees feel valued and connected to the work they do, they’re better equipped to make a meaningful impact.  Our team is curious, collaborative, and open to new ideas. Leaders encourage learning, create space for feedback, and support career growth across the company. We believe great ideas can come from anywhere, and we work to make sure employees feel heard, included, and empowered to contribute.  Supporting employees means supporting the whole person. Ascent offers flexible and hybrid work options, generous PTO and leave policies, paid parental leave, wellness support, continuing education opportunities, and a 401(k) match. These benefits are designed to help team members care for themselves, grow professionally, and build sustainable careers.  Recognition is also part of how we show appreciation. Through programs like Cosmic Kudos, professional development opportunities, and company-wide celebrations, Ascent makes time to acknowledge the work happening across the team. It’s one way we help create a culture where people support each other, celebrate progress, and take pride in the impact they’re making.  “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.”  At its core, Ascent’s culture is people-first and purpose-driven. Team members support one another, celebrate wins together, and stay connected to a shared goal: helping students and families plan for, pay for, and succeed in school. That mix of mission, collaboration, and opportunity is what makes Ascent a great place to work.  We’re grateful to every employee who helps shape that culture every day and proud of what we’ve built together. As Ascent continues to grow, we’ll keep investing in our people, strengthening our culture, and creating opportunities for employees to do meaningful work while building rewarding careers. Because when our people succeed, the students and families we serve benefit too. 

Industry recognition highlights Ascent's flexible repayment options, no-fee student loans, borrower benefits, and commitment to helping students successfully finance their education.  SAN DIEGO, Calif., August 6, 2026 — Ascent Funding, LLC (“Ascent”), a student financing company focused on helping students and families confidently plan, pay, and succeed throughout higher education, announced it has been named NerdWallet’s 2026 Best Student Loan Overall. The honor also comes alongside additional recognition from Yahoo Finance, Forbes, and U.S. News, reinforcing Ascent’s position as a standout student loan provider for today’s learners.  NerdWallet’s Best Student Loan Overall award recognizes lenders that stand out across the factors students and families weigh most when comparing private student loans, including accessibility, repayment flexibility, fees, borrower support, and overall value. Ascent was recognized for bringing those priorities together through private student loan options for borrowers with or without a co-signer, flexible repayment plans, no fees on student loans, career support, and graduation rewards.  This award complements a strong year of 2026 recognition for Ascent, including:  Forbes: Best for Flexible Payment Terms   Forbes awarded Ascent a perfect 5-star rating for flexible payment terms, recognizing the company's broad range of repayment options, commitment to serving diverse student populations, and innovative outcomes-based loan program designed to expand access to education financing for students who may not qualify through traditional credit-based underwriting.  Yahoo Finance: Best Overall Private Student Loan  Yahoo Finance named Ascent its Best Overall Private Student Loan, recognizing the company for its undergraduate and graduate student loan options, longer-than-usual grace period after graduation, and Progressive Repayment option, which allows borrowers to begin with smaller payments after graduation that increase over time while remaining within the original loan term.  U.S. News: Highest Listed Private Student Loan Lender Rating  U.S. News rated Ascent 4.8/5 in its Best Private Student Loans comparison, the highest listed rating among private student loan lenders. The rating reflects Ascent’s no-fee structure, accessibility for noncitizens, broad range of eligible schools and programs, and flexible repayment options.  “Paying for college can feel complicated, and students deserve options that make the process feel clearer and more manageable,” said Allie Danziger, Chief Marketing Officer at Ascent. “We’re honored to be recognized by respected financial publications because these awards reflect the work our team does every day to support borrowers with options designed to meet them where they are.”  Recognition That Reflects Real Student Impact  Together, these awards reflect what Ascent is building: a student loan experience with more pathways to financing, support beyond the loan, stronger borrower benefits, and repayment options designed for the realities of modern learners. According to the 2025 Impact Report, in 2025 alone, Ascent helped more than 27,000 learners finance their education across more than 1,300 colleges and universities and 80 career schools, disbursing more than $357 million to support students in traditional degree programs, career training programs, certificates, bootcamps, and workforce pathways. Ascent also broadened access through more than $32 million in Zero Percent Loans and more than $8 million in loans to DACA students, while more than 9,200 learners engaged in professional skills and financial wellness training.  That same focus on access and support shows up in the way Ascent structures its student loan options: competitive rates starting at 2.19% Annual Percentage Rate (APR)¹, no fees on college and graduate student loans, automatic payment discounts, flexible repayment options, and access to AscentUP student success resources². The result is a student financing experience built to meet more learners where they are, helping them pay for school with options that are clearer, more flexible, and better aligned with the path ahead.  About Ascent Funding  Ascent is a leading provider of innovative financial products and wrap-around student support services that has helped more than 220,000 borrowers* pay for school while enabling 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 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 AscentFunding.com.  Media Contact:  Ascent: [email protected]   Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval.  1Annual Percentage Rates (APRs) displayed above are effective as of 08/01/2026 and reflect an Automatic Payment Discount of 0.5% on credit-based college student loans, and a 1.00% discount on outcomes-based college student loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.  2 For more information, including eligibility requirements, terms, and conditions, please visit www.ascentfunding.com/ascentbenefitsterms.  * Over 220,000 borrowers took out an Ascent loan for college or career training tuition or expenses between January 2018 and March 2026. 

Graduate school is a meaningful step toward what’s next. Paying for it can feel a little less straightforward, especially as Grad PLUS loan changes shifted on July 1, 2026 on how many students plan for graduate and professional programs.   Grants, fellowships, assistantships, federal loans, private student loans, employer support, scholarships, and personal savings can all play a role in paying for school, and understanding how they work can help you build a plan that fits your goals.  This guide walks through common ways to pay for grad school so you can choose the best option for you with confidence.   What Are Grants for Graduate School?  Grants are financial aid that usually does not need to be repaid, as long as you meet the program’s requirements. For graduate students, grants may come from your school, state programs, nonprofit organizations, professional associations, or certain federal programs.  Graduate grants can be need-based, field-specific, or connected to a service commitment. For example, some education-related grants may require recipients to teach in a high-need field or eligible school after graduation. Read the requirements closely so you understand what’s expected and whether the grant could turn into a loan if the service commitment is not completed.  Where to Look for Grad School Grants  Your graduate school’s financial aid office  Your academic department or program coordinator  State higher education agencies  Professional associations in your field  Nonprofits, foundations, and community organizations  Employer tuition assistance or reimbursement programs  Can Graduate Students Get Scholarships?  Yes. Graduate students can apply for scholarships, though the search may look a little different than it did in undergrad. Graduate scholarships are often tied to your field, academic achievement, career goals, research area, community involvement, financial need, or professional path.  Scholarships may be offered by universities, nonprofits, employers, professional associations, private companies, community organizations, and even lenders. Some are open to many types of graduate students, while others are specific to MBA, law, medical, education, STEM, public service, or doctoral programs.  Graduate scholarships can be competitive, so it helps to stay organized. Track deadlines, eligibility rules, essays, recommendation letters, and award amounts in one place. Even if one scholarship does not cover a large part of your program, several awards together can help reduce what you may need to borrow. For more tips, read out guide on how to find and win scholarships.  What Are Fellowships?  Fellowships are competitive awards that can help fund graduate study, research, professional development, or living expenses. Some are offered by universities, while others come from government agencies, foundations, research organizations, or private institutions.  Unlike assistantships, fellowships may not require you to teach, research, or work for a set number of hours each week. They often have specific eligibility requirements, application deadlines, essays, recommendation letters, and goals tied to the award.  If you’re applying to research-focused programs, especially doctoral programs, ask each school what fellowship opportunities are available before and after admission. Some programs automatically consider applicants for internal fellowships, while others require a separate application.  What Are Assistantships?  Assistantships are school-based roles that may provide a stipend, tuition support, or both in exchange for work. Common options include teaching assistantships, research assistantships, and graduate assistantships.  These roles can be helpful because they may give you hands-on experience in your field while lowering your education costs. Ask how many hours are required, whether tuition is fully or partially covered, and whether the assistantship can continue for more than one term or academic year.  How Federal Student Loans Work for Grad School  Federal loan options for graduate students are changing, so it’s worth reviewing the latest guidance before you borrow. Grad PLUS loans have historically helped graduate and professional students borrow beyond standard federal Direct Unsubsidized Loan limits to cover the full cost of attendance, minus other financial aid. Starting July 1, 2026, Grad PLUS loans are no longer available for new borrowers, which may leave some students with a larger funding gap to plan for.  Graduate students may still have access to federal Direct Unsubsidized Loans, depending on eligibility and program type. Current Ascent resources note annual federal unsubsidized loan caps of $20,500 for graduate programs and $50,000 for professional programs, which may not cover the full cost of some programs. Your school’s financial aid office can help you understand what options may apply to your program, timeline, and borrower status.  Before borrowing, review your financial aid offer and ask your school what federal aid you qualify for, how much you can borrow each year, when interest begins accruing, and what repayment options may be available after you leave school.  When Private Graduate Student Loans May Fit Into Your Plan  Private graduate student loans may help cover remaining education costs after you’ve reviewed scholarships, grants, fellowships, assistantships, savings, employer assistance, and federal aid. These loans are offered by private lenders and banks, and eligibility, rates, repayment terms, and borrower benefits can vary.  Before choosing a private student lender, compare the interest rate, repayment term, in-school payment options, grace period, fees, cosigner release options, and total cost of borrowing. Ascent’s Student Loan Calculator can help you estimate your potential monthly payment and total loan cost, so you can compare options with a clearer picture of what repayment may look like.  Estimate What You May Need to Borrow  Once you’ve added up grants, fellowships, scholarships, assistantships, employer support, savings, and federal aid, you can estimate your funding gap, or the amount you may still need to cover.  How to Compare Grad School Funding Options  As you build your plan, it can help to compare each funding source side by side. Look at what the money can be used for, whether it needs to be repaid, how competitive it is, and what obligations come with accepting it.  Funding Option Usually Repaid? Best For What to Watch Grants No Need-based, field-specific, or service-based aid Some grants may have service requirements Scholarships No Reducing out-of-pocket costs Deadlines, eligibility rules, and essay requirements Fellowships No Research, professional development, or advanced study Competitive applications and specific requirements Assistantships No, but work is required Tuition support, stipends, and experience Weekly hour commitments and renewal rules Employer Assistance No, depending on policy Working students Reimbursement limits, grade requirements, or retention rules Federal Loans Yes Eligible students who want federal borrower protections Annual limits, interest accrual, and Grad PLUS changes Private Student Loans Yes Covering remaining funding gaps Credit requirements, repayment terms, and total loan cost    Final Thoughts  Financing grad school can feel like a lot, but you do not have to figure it out all at once. Start with your total cost, look for funding you do not have to repay, understand how federal loan options and Grad PLUS changes may apply to your timeline, and use loan calculators to estimate what borrowing could look like before you make a decision.  Ascent is committed to providing students and families with the financial resources needed to pursue their dreams.      From financial wellness resources to our flexible private student loans and undergraduate student loans, we are here to help students and their families make informed decisions about their future in college, and beyond. 

Getting approved for a student loan is an important step in the process, but it doesn’t always mean the money is ready to be sent right away. Before your lender can send funds to your school, your school usually needs to complete one more step: certification.  Here’s what school certification means, why it matters, how long it can take, and what you can do if your loan is still waiting for certification.  What Does “Certified by Your School” Mean?  Student loan certification is the step where your school confirms your enrollment, eligible college costs, and loan amount before funds are sent. It helps make sure you’re borrowing the right amount for the right academic period and that your loan fits within your school’s cost of attendance.  When your student loan is certified by your school, it means your financial aid office has reviewed the loan request and confirmed key details with your lender. This often includes your enrollment status, academic term, expected costs, and whether the requested loan amount fits within your remaining financial need.  Put simply, certification is your school’s way of confirming that the loan amount works for your enrollment period. Once that happens, your lender can continue with final loan steps and prepare to send the funds to your school.  Why Do Schools Certify Student Loans?  School certification helps make sure your loan amount lines up with your actual school costs and makes sure you don’t borrow more than you’re eligible for. Your lender may approve you for a certain amount, but your school determines how much can be certified based on your cost of attendance and other financial aid you have already received.  Your cost of attendance, often called COA, is your school’s estimate of what it costs to attend for a specific academic period. It can include tuition, fees, housing, food, books, supplies, transportation, and certain personal expenses. Grants, scholarships, federal student loans, work-study, and other aid may lower the amount you need to borrow through a private student loan.  That means your certified loan amount may be lower than the amount you originally requested. That’s not always a bad thing. It usually means your school adjusted the loan to match your remaining eligible education expenses and ensure you don’t over-borrow.  How the Student Loan Certification Process Works  The exact process can vary by school and lender, but student loan certification usually follows a few common steps.  You apply for a student loan. After submitting your application, the lender reviews your information and may approve you for a loan amount.  The lender sends the loan request to your school. Your school’s financial aid office reviews the request and checks it against your enrollment and financial aid records.  Your school verifies your eligibility. The school may confirm your enrollment status, academic term, graduation date, cost of attendance, and other financial aid.  Your school certifies, reduces, or declines the loan amount. If the requested amount is higher than your remaining eligible costs, your school may certify a lower amount.  The lender finalizes the loan. Once certification is complete, the lender may send final disclosures and prepare the loan for disbursement.  Funds are sent to the school. Student loan funds are typically disbursed directly to your school first. If money remains after school charges are paid, your school may issue the remaining amount to you through its refund process. Because processes can vary by school, be sure to check with your financial aid office.  What Information Does Your School Verify?  During student loan certification, your school may verify:  Your enrollment status, such as full-time, half-time, or less than half-time  The academic term or period covered by the loan  Your expected graduation date  Your school-certified cost of attendance  Other financial aid you’ve already received or accepted  Whether the requested loan amount fits within your remaining eligible costs  Whether you meet school requirements, such as satisfactory academic progress, if applicable  Why Was My Student Loan Certified for Less Than I Requested?  If your student loan was certified for less than you requested, it may be because your school determined you didn’t need the full amount to cover your eligible education expenses.  Common reasons your certified loan amount may be reduced include:  You received additional grants, scholarships, or federal aid.  Your cost of attendance was lower than expected.  You requested more than your remaining financial need.  Your enrollment status has changed.  Your school adjusted the loan to match the correct academic term.  If the certified amount doesn’t look right, contact your school’s financial aid office first. Your school is typically the best source for explaining how the final certified amount was calculated.  How Long Does School Certification Take?  School certification can take anywhere from a few days to several weeks, depending on your school’s process, the time of year, and whether any information is missing. Certification may take longer during busy periods, such as the weeks before a new semester begins.  To help avoid delays, apply early, monitor your student portal, respond quickly to emails from your lender or financial aid office, and confirm whether your school needs any additional forms or steps from you.  What Should You Do If Your Student Loan is Waiting For School Certification?  If your loan status says it’s waiting for school certification, don’t panic. This is a normal part of the student loan process. That said, you can take a few simple steps to keep things moving.  Check your school’s financial aid portal for outstanding requirements.  Confirm your enrollment status for the term covered by the loan.  Make sure your requested loan amount matches your remaining costs.  Complete any private loan self-certification form if your lender requires it.  Contact your financial aid office if the status hasn’t changed after a reasonable amount of time.  Ask your lender whether anything is missing on their end.  If your tuition deadline is approaching, let both your school and lender know. Your financial aid office may be able to explain whether a pending loan certification affects your student account, payment deadline, or class registration.  Is School Certification Different for Federal and Private Student Loans?  Both federal and private student loans involve school verification, but the process may look different depending on the type of loan.  For federal student loans, your school uses information from your financial aid application and school records to determine your eligibility and loan amount. For private student loans, the lender may approve your application first, then send the loan request to your school for certification before the loan can be finalized and disbursed.  With either loan type, the goal is the same: to confirm that the loan amount aligns with your school costs, enrollment, and available financial aid.  Final Notes  If your student loan is still waiting for certification, check your student portal, respond to any lender or school requests, and reach out to your financial aid office with questions. A little proactive follow-up can help you understand where your loan stands and what may need to happen before funds are sent.  Still learning how to pay for college? Check out Ascent’s How to Pay for College Webinar for everything you need to know about financial aid — from completing the FAFSA to finding scholarships, understanding work study, and knowing when private loans make sense.   Frequently Asked Questions About Student Loan Certification  Does certified mean my student loan is approved?  Not always. Loan approval and school certification are related, but they are not the same thing. Your lender may approve your application, but your school still needs to certify the eligible amount before funds can be disbursed.  Can my school deny certification?  Yes. A school may decline to certify a loan if you are not enrolled, if the loan period does not match your enrollment, if you are not eligible under school requirements, or if your financial aid already covers your cost of attendance.  Can I change my loan amount after certification?  It depends on your lender and school. If you need to change the certified amount, contact your financial aid office and lender as soon as possible. Your school may need to review the request before any adjustment can happen.  When are funds disbursed after certification?  After certification, your lender may still need to finalize disclosures or wait through any required cancellation period before sending funds. Once disbursed, funds generally go to your school first to cover eligible charges.  Who should I contact about school certification?  Start with your school’s financial aid office because they manage certification and can explain your cost of attendance, other aid, and certified amount. You can also contact your lender to confirm whether they have received the certification or need anything else from you. 

A federal court ruling on June 25, 2026 blocked part of a new Department of Education rule just days before it was set to take effect.  For students planning to start or continue graduate school, the decision creates short-term uncertainty around how much you may be able to borrow through federal loans.  Key Takeaways  A federal judge temporarily paused part of a new Department of Education rule that would change how certain graduate programs are classified for federal student loan borrowing. The rule was scheduled to take effect on July 1.  Under the new regulations, most graduate students would be limited to borrowing $20,500 per year in federal loans, while students in qualifying professional degree programs could borrow up to $50,000 annually.  The groups challenging the policy, including the American Association of Nurse Practitioners, argued that the rule defined “professional degree” too narrowly. Their concern: some fields, including nursing and education, could be left out of the higher borrowing category, creating real funding challenges for students in those programs.  What Happened  A federal judge temporarily paused part of a new Department of Education rule that would change how graduate programs are classified for federal student loan borrowing. The rule was scheduled to take effect on July 1.  Under the new rules, most graduate students would face a $20,500 annual federal borrowing cap, while students in qualifying professional degree programs could borrow up to $50,000 per year.  The court order pauses the Department’s updated definition of “professional degree,” which had identified a limited set of degree types that could qualify for the higher borrowing limit.  That means the definition is on hold for now, but the broader federal loan limits and Grad PLUS phaseout are still moving forward.  What Was Changing  The rule is part of a broader federal student loan overhaul passed in 2025. Two major changes are still in place:  Grad PLUS loans are being phased out for new borrowers.  New federal borrowing caps are being introduced based on program type.  Under the new system:  Most graduate programs are limited to $20,500 per year, up to $100,000 total.  Professional programs, such as law or medicine, may qualify for up to $50,000 per year, up to $200,000 total.  Why the Rule Was Challenged  The court case was not about whether loan caps could exist. It was about how programs were categorized.  The Department of Education created a narrower definition of “professional degree,” which left some healthcare, education, and licensed professional programs outside the higher borrowing category.  Groups representing those programs argued that the Department went beyond what Congress intended when it rewrote the criteria.  What Has Not Changed  The ruling does not eliminate the new federal loan caps.  The broader structure created by Congress, including lower overall borrowing limits and the Grad PLUS phaseout, remains in place. The court’s decision only affects how certain programs may be classified under those limits.  What This Means for Students  In the short term, the ruling may create more flexibility for some graduate programs that would have faced stricter borrowing limits.  But the bigger picture has not changed: many graduate students may have access to less federal funding than in previous years.  That means students may need to plan for:  Funding gaps between federal aid and total school-certified costs.  More reliance on scholarships, institutional aid, savings, or payment plans.  Private student loans as one option to help cover remaining costs.  Learn More with Ascent  Ascent is here to help students, families, and schools understand what is changing, ask the right questions, and plan ahead with more confidence.  If you are trying to estimate a potential funding gap, Ascent’s Grad School Funding Calculator can help you compare your school-certified costs with the aid you may already have available.  To better understand what the Grad PLUS phaseout could mean for students and schools, check out our blog, What Does the End of Grad PLUS Loans Mean for Higher Education? 

When you start planning for college, one term you’ll see often is Cost of Attendance, or COA. It’s your school’s estimate of what one full year of college may cost, including tuition, fees, housing, food, books, transportation, and personal expenses. Once you understand COA, it becomes much easier to compare schools, plan a realistic budget, and make smarter decisions about financial aid and student loans.  If you want to go deeper, Ascent’s Guide to Paying for College and college cost calculator tools can help you connect Cost of Attendance to the bigger picture of financial aid, budgeting, and borrowing, here.  The Part Most Students Miss: It’s More Than Tuition  When people think about college costs, tuition is usually the first number they focus on, but Cost of Attendance is broader. It includes tuition and fees along with everyday costs like housing, food, books, transportation, and personal expenses, which is why it gives you a more realistic view of what college may actually cost.  What Does Cost of Attendance Include?  Every school builds its Cost of Attendance a little differently, but most use the same core categories to estimate what it costs to be a student for a full year.  A helpful way to think about COA is that it covers two types of expenses: costs billed by the school and everyday living costs you manage on your own.  Costs You Usually Pay to the School  These are the expenses that typically show up directly on your tuition bill or school account.  Tuition This is the cost of your classes and academic instruction.  Required fees Most schools also charge mandatory fees that support campus services. These can include things like technology access, student activity funds, lab usage, or program-specific fees.  On-campus housing and meal plans (if applicable) If you live in a dorm, your housing and meals are usually billed through the school. These costs can vary depending on the type of room and meal plan you choose.  Costs You Usually Pay on Your Own  These costs don’t always appear on a bill from the school, but they are still part of the full cost of attending college. Because they’re paid in smaller amounts over time, they’re often the easiest to underestimate.  Books and course materials This includes textbooks (print or digital), lab manuals, software, art supplies, or other course-specific materials.  Transportation This can include:  Gas, parking, or car maintenance if you commute   Public transportation passes   Travel costs if you go home during breaks or holidays   Off-campus housing and food (if you don’t live on campus) If you rent an apartment or live at home, schools estimate what you might spend on rent, groceries, and basic household needs.  These estimates are based on averages, not exact spending , so your real costs may be higher or lower depending on your lifestyle and location.  How Cost of Attendance Affects Student Loan Borrowing  Cost of Attendance also affects how much aid and how much in student loans you may be able to receive. Once scholarships, grants, and other aid are applied, the remaining amount is the gap you still need to cover through savings, income, or borrowing.  That’s why understanding your COA can help you borrow more thoughtfully and avoid taking on more debt than you need. If you’re trying to estimate what borrowing could look like month to month, Ascent’s student loan calculator can be a useful planning tool, here.  Why Cost of Attendance Can Look Different for Students at the Same School  There isn’t always one single Cost of Attendance number for every student. Your COA can change based on your situation, including:  Whether you live on campus, off campus, or commute from home  Whether you’re an in‑state or out‑of‑state student at a public school  Whether you’re enrolled full time or part time  When comparing schools or financial aid offers, make sure you’re looking at the Cost of Attendance that matches your situation so the comparison feels fair and accurate.  Final Thoughts  Cost of Attendance brings all the major pieces of your college budget into one place. Once you understand it, financial aid offers feel less confusing and planning how to pay for school feels more manageable.  A helpful first step is reviewing your school’s Cost of Attendance page alongside your award letter. From there, think about what you can cover with savings, income, or family support, and borrow only what you need to fill the gap.  If you want help making sense of award letters, aid packages, and college costs, our Paying for College Webinar could be a useful next step. 

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.  

Helping future business leaders navigate funding and career readiness with greater confidence. RESTON, Va. (May 19, 2026) – GMAC (Graduate Management Admission Council), a global nonprofit association of leading business schools and central hub for business school candidates, today announced a collaboration with Ascent Funding, a leading provider of private student loan products and student support services, facilitated through its bank partners. Together, GMAC and Ascent aim to help Master of Business Administration (MBA) and other business master’s program students better plan for, pay for, and succeed in their graduate business education. According to GMAC’s latest research on prospective business school students, aspects like cost and lack of financial aid, are cited as candidates’ most common barriers to pursuing a graduate business degree. As policies around financial resources for higher education shift, many qualified and motivated learners risk being left behind. Increasingly the barrier isn’t ability - it’s access to funding. Ascent prides itself on its student-focused benefits, easy application, flexible repayment options, and commitment to expanding access to education financing through its outcomes-based funding model, which evaluates students’ expected post-graduation earning potential, rather than relying solely on current income and credit profile. Together, GMAC and Ascent are helping to provide more students with access to flexible, student-centric financing solutions that reflect the realities of today’s business talent. “We know that education has the potential to change the trajectory of someone’s life, but too often, access comes down to outdated measures like credit history or current income, not future potential,” said Ken Ruggiero, CEO of Ascent. “At Ascent, we’ve built our model around outcomes, because we believe students should be evaluated based on where they’re going, not just where they’re starting. Working with GMAC allows us to meet aspiring business school students at a critical moment and give them the tools and financing they need to move forward with confidence.” Students in the GMAC ecosystem may take advantage of a suite of financial and professional benefits provided by Ascent to support them throughout their graduate business school journey, including*: 0.5% - 1.00% autopay interest rate discount 1% cash back reward upon graduation Access to Ascent’s proprietary professional training and career readiness platform, with a 9-month post-graduation grace period before repayment begins A dedicated Ascent representative for personalized application support “For more than 70 years, GMAC’s mission has been to connect aspiring business leaders with the opportunities and resources for them to realize their potential,” said Joy Jones, CEO of GMAC. “As the path to graduate management education becomes more complex, collaborations like this play an important role in helping candidates navigate both the financial and professional aspects of their journey. By working with Ascent, we’re able to help make candidates aware of tools and support at this critical juncture, empowering them not only to enroll in business school but also to thrive during and after their programs.” To further support informed decision-making, Ascent created a proprietary Grad School Funding Calculator that helps graduate students estimate their total cost of attendance, assess federal loan limits under current policy, and identify any potential funding gap between available federal aid and program costs. By clarifying where gaps may exist, the tool gives students a clearer picture of the financing they may need beyond federal loans and other resources. For more information, visit Ascentfunding.com/GMAC. *All Ascent Funding, LLC loans are originated by Ascent’s FDIC-member bank partners. All benefits, rates, and repayment features are subject to eligibility, credit approval, and loan terms, and may vary. 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.  About GMAC GMAC is a global nonprofit association of leading graduate business schools committed to connecting future business leaders with educational opportunities and advancing graduate management education worldwide. Through assessments, research, events, and recruitment solutions, GMAC provides the tools and information necessary for schools and candidates to discover and evaluate each other. With teams in China, India, the United Kingdom, and the United States, GMAC serves millions of visitors each year across its digital platforms. MEDIA [email protected]@wearecsg.com 

If you’re a student with no credit history, you might be wondering if you can still get approved for a private student loan. In many cases, the answer is yes. That said, approval often comes down to a few key details, like whether you have a cosigner, your enrollment status, and the rest of your financial picture.  We’ll walk through how private student loan lenders evaluate borrowers without credit histories, which options may work even without established credit, and a few practical steps you can take to boost your chances of approval.  Why private student loan lenders care about credit history  Private student loans are issued by banks, credit unions, and online lenders, and they typically use credit-based underwriting to estimate how likely a borrower is to repay. If you’ve never had a credit card, auto loan, or other account reported to the credit bureaus, you may have a “thin file” (limited history) or be “credit invisible” (no score at all). That doesn’t automatically mean you’ll be declined, it just means the lender may want additional reassurance, such as a cosigner, proof of income, or other qualifying factors.  So, can you get a private student loan with no credit history?  Many students can qualify for a private student loan even with no credit history. Typically, lenders look for added support (like a cosigner) or other indicators that the loan is likely to be repaid. Here are three common paths:  Apply with a cosigner. This is the most common route for undergraduates with limited credit or income.  Choose a no-cosigner loan (if available). Some lenders consider factors beyond a traditional credit score, such as your program, year in school, or income.  Limit private borrowing while you explore alternatives. You may be able to close the gap with federal loans, scholarships, a school payment plan, or a lower-cost enrollment option.  Option 1: Apply with a cosigner  If you’re a student with little or no credit history, applying with a cosigner is usually the simplest (and most common) way to get a private student loan. A cosigner is someone, often a parent, guardian, or another trusted adult, who agrees to apply with you and share responsibility for the loan.  Why do so many students go this route? Because many undergraduate private student loans are credit-based, and most students haven’t had time to build much credit or steady income yet. A strong cosigner can boost your odds of approval and may help you get a better rate. For example, Ascent borrowers who applied with a cosigner saw rates 4.92% lower on average* and were 5x more likely to be approved in 2025. *  You may qualify even if you have no credit score yet.  You might get a lower interest rate than you’d get on your own.  Heads-up: your cosigner is equally responsible for the loan, so staying on top of payments matters for both of you.  Lining up a cosigner doesn’t have to be a forever commitment. Some lenders offer cosigner release, which means your cosigner can be removed from the loan after you meet certain requirements (for example, making a set number of on-time payments and meeting credit and income criteria). If you qualify, the loan becomes your responsibility alone going forward.  This route can be a win-win: you may qualify more easily and potentially get a lower rate, while your cosigner can help you access funding when you need it. The tradeoff is that missed payments can affect both of your credit, and the loan may show up on your cosigner’s credit report as part of their overall debt.  If you’re planning to ask someone to cosign, it helps to have a clear plan before you bring it up: how much you want to borrow, what repayment option you’re choosing, and how you’ll stay on top of payments.   Option 2: Look for no-cosigner private student loan options  If you don’t have a cosigner (or you’d rather not ask someone), don’t stress, you may still have options. Some lenders offer private student loans with no cosigner, and instead of relying only on a traditional credit score, they may look at other parts of your application too.  What does that look like in real life? Depending on the lender and the type of loan, they might review details such as:  Your year in school and enrollment status  Your program, major, and school eligibility  Academic performance or satisfactory academic progress  Your income (if you work) and your ability to make payments  Borrowing amount relative to your school’s cost of attendance  In other words, a no-cosigner loan is often about showing you’re in an eligible program and that the loan amount makes sense for your situation, not about having a long credit track record.  Option 3: Borrow smarter by combining funding sources  If you’re trying to figure out how to pay for school, it helps to think in layers. Many students use a mix of financial aid, scholarships, and school resources first, then use a private student loan to cover the remaining gap (instead of borrowing more than they need).  Start with the FAFSA (even if you plan to borrow privately). Federal aid can include grants and work-study, and it may unlock federal loans if you need them.  Stack scholarships and tuition discounts. Every dollar you earn in scholarships is a dollar you may not need to borrow. Check your school’s portal, your department, local organizations, and employer programs (if applicable).  Use a school payment plan if it helps. Many schools let you spread tuition out over the semester. That can reduce how much you need to borrow at once (sometimes for a small fee).  Consider work-study or part-time work to cover living costs. Covering books, rent, or transportation with income can help you keep your private loan amount lower.  Borrow only what you need. A smaller loan can mean lower monthly payments and, in some cases, it may also make approval easier, especially if you’re applying without a cosigner.  As you put your plan together, building credit can help too. Even a small positive credit history may improve your approval odds and could help you qualify for better rates in the future.   FAQ: Private student loans and no credit history  Will I have a credit score if I have never used credit?  Not always. Some students have no score at all, while others have a thin file that produces a score. Either way, many lenders will want more support for the application, most commonly a cosigner.  Does having a part-time job help me qualify?  It can, especially for lenders that consider income as part of their review. Still, many undergrads need a cosigner even with income, and approval can depend on how much you want to borrow.  Can a private student loan help me build credit?  Yes, on-time payments can help build credit over time if the lender reports to the credit bureaus. The catch is that missed payments can also hurt, so only borrow what you truly need and choose a payment plan you can stick with.  When should I consider federal loans instead?  If you have not filled out the FAFSA yet, start there. Federal student loans are typically easier to access for undergrads and come with protections like income-driven repayment and potential forgiveness options for eligible borrowers.  * 5x higher acceptance rates were observed in 2025 across all college products when a loan application is cosigned vs without a cosigner. Ascent’s minimum credit requirements vary based on loan product, credit history, and whether you’re applying with a cosigner. You can see your rates without impacting your credit score to help you determine which product could be best for you based on your unique circumstances.