Private Student Loan Advice & College Financing Resources

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. 

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.  

If you’re comparing private student loans, you’re already doing the right thing by taking a closer look before you choose. The interest rate matters, but it’s only one piece of the decision. You’re not just choosing what you’ll pay, you’re choosing what you’ll get: whether the loan comes with fees, what repayment options you can use while you’re in school and after you graduate, whether there’s an autopay discount, how cosigner release works if you apply with a cosigner, and what kind of tools and support you’ll have along the way.  Another way to compare lenders is to look at what they offer beyond the money itself. Some lenders provide extra resources, like financial wellness tools, budgeting education, or career support. These can help you make smarter decisions while you’re in school and feel more prepared after graduation.  In this guide, we’ll break down the key features that matter most so you can compare lenders side by side and choose the option that fits your budget, your timeline, and goals.   Private student loan interest rates explained: how to compare beyond APR  Interest rate matters because it affects your monthly payment and the total interest you may pay over time. But two loans with similar rates can feel very different once you factor in fees, repayment flexibility, and benefits like autopay discounts or cosigner release.   Private student loan fees: what “no fees” really means  Fees don’t always show up in the headline rate, but they can raise what you pay out of pocket. Many private student loans are structured with no application, origination, or disbursement fees, which keeps your loan cost more straightforward. Still, it’s worth double-checking the fee schedule before you sign, especially for fees that can pop up later in repayment.   Application, origination, or disbursement fees  Returned payment fees  Prepayment penalties (many lenders don’t charge these, but confirm)  A good lender will spell out fees clearly and keep them simple. If you see “no fees,” confirm which fees are included in that promise.  For example, for Ascent college loans, we offer no application, disbursement, or prepayment fees. 1  Private student loan repayment options: what to compare before you borrow  Repayment options decide whether a loan feels manageable.  When you compare lenders, look for:  Choices for how you pay while you’re in school  Clear timing for when full repayment begins after graduation  Options that let you adjust if life changes  Clear explanations of what your payment looks like once repayment starts  Helpful rule: Choose the plan you can stick with consistently.  How this shows up with us: Ascent offers multiple repayment options 2 so you can choose what works best for you. Depending on your loan, that may include options like making no payments while in school, paying interest-only, making a low monthly payment while in school, or choosing a plan where payments start smaller and increase over time.  Autopay discounts on private student loans: how they work and how to qualify  Many lenders offer a small interest rate reduction if you enroll in automatic payments. Over the life of a loan, this can really add up, especially if you borrow for multiple years. For instance, Ascent offers an autopay discount.  Private student loan lender resources: financial wellness and career support  Some private lenders offer more than financing. In addition to loan terms, consider whether a lender provides extra resources, like financial wellness education and career support, that can help you feel more prepared for life after graduation. As an example, Ascent offers these kinds of resources through AscentUP 3, including financial wellness support and access to paid internship opportunities.  1 Only Ascent college loans are eligible for no fees. Ascent career training loans are subject to a one-time origination fee of 5.0% of the loan amount. All Ascent loans are eligible for no application, disbursement, late, NSF or early payment fees.  2 The final ACH discount approved depends on the borrower's credit history, verifiable cost of attendance, and is subject to credit approval and verification of application information. Automatic Payment Discount consists of 0.25% for credit-based college student loans submitted prior to 06/01/2025, 0.5% for credit-based college student loans submitted on or after 06/01/2025, and a 1.00% discount on outcomes-based college student loans when you enroll in automatic payments. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions.  3 Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform. 

Tuition and fees are only part of the cost of college. Many students also need help covering everyday necessities like housing, food, transportation, and personal expenses. If you are considering a private student loan to help pay for those costs, it's a smart question to ask.  In this guide, we'll walk through when living expenses can be covered by a private student loan, what counts as an eligible expense and how funds are typically disbursed.   Quick answer: Yes, but only within your school’s cost of attendance  In many cases, you can use a private student loan for living expenses like housing, as long as those costs are included in your school’s cost of attendance (COA). COA is the budget your school uses to estimate what it costs to attend for a specific period of enrollment, and it sets the limit for how much total financial aid you can receive, including private student loans.  What living expenses can a private student loan cover?  Your school builds your COA (Cost of Attendance) using categories defined by federal guidelines and local estimates. Exact amounts vary by school and by whether you live on campus, off campus, or commute, but living expenses commonly include:  Housing (on-campus room and board or an off-campus housing allowance)  Food (meal plan or grocery allowance)  Transportation (commuting costs like gas, public transit, or parking, depending on your school’s budget)  Personal and miscellaneous expenses (basic necessities like laundry, hygiene items, and other everyday costs)  Books and supplies (textbooks, lab materials, required course supplies)  Computer and required equipment (in many cases, schools include an allowance for a laptop used for coursework)  Even if you receive a refund (more on that below), student loan funds are not intended for non-education spending. Think of it this way: if it does not support your ability to attend school and complete your program, it is probably not a smart use of loan money.  How private student loan funds reach you (and why you might get a “refund”)  Most private student loans are sent to your school first, not directly to you. The school applies the funds to charges like tuition and fees (and sometimes on-campus housing and meal plans). If there is money left over after your school covers those charges, the remaining amount is typically issued to you as a student refund by check or direct deposit, based on your school’s process.  This timing matters because refunds can take time. If you are counting on loan funds to pay rent or buy essentials at the start of the term, ask your financial aid office when refunds are typically released, and plan accordingly.   If you receive a refund from your school, that money is still part of your student aid and is generally meant for education-related living costs included in your school’s cost of attendance, such as off-campus housing, food, transportation, and required supplies. Because policies and timing vary by school, it is a good idea to confirm your refund and disbursement schedule with the financial aid office, set up direct deposit if available, and keep documentation for major expenses in case questions come up later.  How much can you borrow for living expenses?  Here is the key rule: you generally cannot borrow more than your school-certified COA minus other financial aid you receive. Your school usually has to certify your private student loan amount, which helps keep total borrowing within those limits.  Example: If your school’s COA is $30,000 for the year and you are receiving $18,000 in scholarships, grants, and federal loans combined, you may be able to borrow up to $12,000 in a private loan (assuming you meet lender requirements and your school certifies the amount).  Final takeaway  Yes, a private student loan can help cover living expenses, but the smartest approach is to keep your borrowing tied to your school’s cost of attendance and your real monthly needs. If you are unsure how much to request, start with your COA budget, subtract the aid you already have, and build a simple plan for rent, food, and essentials for the term.  If you want help estimating what you may need to borrow, explore Ascent’s Student Loan Calculator and financial wellness resources, and consider talking with your school’s financial aid office before you apply.  Learn more with Ascent   Navigating the student loan application process can be challenging, and Ascent is committed to providing students and families with the financial resources needed to pursue their dreams.      From financial wellness resources to our flexible private student loans and undergraduate student loans, we are here to help students and their families make informed decisions about their future in college, and beyond.  FAQ: Private student loans and living expenses  Can I use a private student loan to pay rent?  Often, yes. If your school includes an off-campus housing allowance in its cost of attendance, rent is usually considered part of that category. The practical detail is timing: your school may issue any leftover funds as a refund after disbursement, so plan ahead for when rent is due.  Can I use a private student loan for groceries and bills?  Typically, yes, within the food and personal expense allowances your school uses in its COA. That may include groceries, basic toiletries, laundry, and utilities that support your ability to attend school.  Why does my school have to “certify” a private student loan?  School certification helps confirm you are enrolled and that the loan amount fits within your cost of attendance after other aid is applied. It is one way the system helps prevent overborrowing beyond education-related costs. 

Paying for college can feel overwhelming, especially when financial aid and scholarships don’t cover all your expenses. Private student loans can help fill the gap, but choosing the right repayment term is just as important as selecting the loan itself. Your repayment term, the length of time you have to pay back your loan, affects your monthly payment, total interest, and financial flexibility.   Understanding your options can help you borrow smart and plan for a secure financial future.  What Is a Student Loan Repayment Term (and Why Does It Matter?)  A student loan repayment term is the time period over which you agree to repay your loan in full. For private student loans, terms typically range from 5 to 20 years, though some lenders offer shorter or longer options.  Note: Your repayment term is how long you repay the loan, while your interest rate (and APR) affects how much borrowing costs; both work together to determine your monthly payment and total repayment.  Your term determines:  Monthly payments: Shorter terms generally mean higher monthly payments, while longer terms will lower your monthly bill over a longer period of time.  Total interest paid: Longer terms usually increase the total interest you pay over the life of the loan.  Financial flexibility: Longer terms can ease monthly budgeting but may limit how quickly you become debt-free.  Choosing the right term is a balance between affordability now and minimizing costs over time.  Repayment Term Options  Private student loans usually come in a few standard term lengths, and each comes with trade-offs.  Short-term (3–10 years)  Shorter terms let you pay off your loan faster and save money on interest. The catch is that monthly payments will be higher. This works best if you have a steady income and can comfortably manage larger monthly bills.  Medium-term (10–15 years)   Medium terms strike a balance. Your monthly payments are more manageable, and total interest stays reasonable. This is a good choice if you want to balance affordability now with paying off your loan in a reasonable amount of time.  Long-term (15–20 years or more)   Longer terms lower your monthly payments, which can be helpful if you have other expenses. The trade-off is that you’ll pay more in interest over time and carry the loan longer. This option is often best for borrowers who need flexibility now and are okay with paying a bit more overall.  How to Choose the Right Repayment Term  The best repayment term depends on your finances, your goals, and what makes sense for your life right now. Here are a few things to consider:  Your budget: Start by figuring out what you can comfortably pay each month. Choosing a term that keeps payments manageable helps avoid stress and missed payments.   Future income: If you expect your income to increase after graduation, you might handle higher payments now with a shorter term, saving money on interest down the road.   Other financial goals: Buying a home, saving for emergencies, or paying off other debts may affect your decision. A slightly longer term can provide flexibility.   Trade-offs: Remember that shorter terms save money but require higher payments, while longer terms lower monthly costs but increase total interest.   Prepayment options: Some loans let you make extra payments without penalties. If yours does, you could choose a longer term for flexibility and pay extra when you can, reducing interest and paying off the loan faster.  Tools like Ascent’s Student Loan Calculator can help you estimate your monthly payment and total cost across different terms, so you can choose what fits your budget and goals.  How Repayment Options Can Support You  Beyond the length of your term, repayment options can also shape your experience.  Some private student loan providers offer in-school repayment choices, like making small fixed payments or interest-only payments while you’re enrolled. You may also be able to defer payments until after graduation, often with a grace period (a set amount of time after you leave school before your first full payment is due) before full repayment begins.  These features can influence how much interest accrues and how your balance looks when repayment starts. They also affect how prepared you feel when that first full payment comes due.  Understanding how these options work before you borrow can help you better anticipate your total cost and repayment experience and feel more confident in the decisions you’re making along the way.  Choosing a loan with flexible repayment options can give you more control over your financial journey, both during school and after you graduate.  Learn More with Ascent   Paying for college can be daunting, and Ascent is committed to providing students and families with the financial resources and clarity 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. 

 U.S. News & World Report, the global authority in rankings and consumer advice, has named Ascent the winner of the Best Private Student Loans for Parents as part of the 2026 Lending Awards.  “Being recognized by U.S. News & World Report as a Best Private Student Loan for Parents award winner underscores our focus on expanding access to education and driving economic mobility for student, that ultimately supports the entire family and future generations. We remain committed to delivering transparent, flexible solutions that support students and the parents and families who invest in their success,” said Ken Ruggiero, Co-Founder and CEO of Ascent Funding.  The awarded lenders were determined using a comprehensive, data-driven methodology which assessed factors including rates and fees, affordability, eligibility requirements, and customer service for lenders. For more information, read the Lenders Awards methodology.    “The 2026 Lending Awards recognize exceptional institutions, while also providing current and prospective borrowers with informed insights on financial institutions that can best support their personal financial needs and goals,” said Greg Garrison, consumer banking analyst at U.S. News.  U.S. News publishes consumer lending advice, calculators, mortgage rate forecasts, and more to help readers make the best money-related decisions for them. Consumers can find advice about personal and student loans, and much more at Money.USNews.com.  Why Ascent Stands Out  Ascent offers a range of benefits designed to support families navigating the costs of higher education:  Cosigner release opportunities* – Many students initially apply with a cosigner, with the option to release the cosigner later. This can be a significant benefit for the cosigner and the student, helping reduce long-term financial responsibility for the parents, and help the student borrowers establish their own strong credit.  No application, origination, or disbursement fees1 – Borrowers can focus on funding their education without added costs along the way.   Flexible repayment terms that fit every student – Ascent offers multiple repayment plans with fixed and variable interest rates, giving students the freedom to choose what works for them. Undergraduate students can start payments up to 9 months after graduation, while graduate and professional students have extended grace periods tailored to their programs (up to 36 months for medical, 12 months for dental).    AscentUP and internship program2 – Wrap-around support services and career-building opportunities designed to help students succeed in school, and prepare for the workforce, including access to exclusive paid internship opportunities.  Support for multiple programs – From traditional undergraduate and graduate degrees to career and trade school programs, Ascent offers options that meet diverse educational paths.  1% cash back graduation reward* – Eligible borrowers who meet terms and conditions can earn a reward when completing their program.  DACA eligibility – Eligible DACA students may apply for an Ascent loan, expanding access for students who may have fewer private loan options.  How Winners Are Selected  U.S. News evaluates lenders through a combination of quantitative metrics and editorial review, analyzing multiple key areas:  Interest rates and fees – Lenders are assessed on cost competitiveness, including any hidden or upfront charges.  Repayment flexibility – Options that allow borrowers to adjust schedules or choose terms that fit their budget are prioritized.  Cosigner support and release policies – For parents or students with limited credit history, these options can be a deciding factor.  Hardship programs – Availability of deferment, forbearance, or other protections when financial challenges arise.  Accessibility – Including eligibility for non-U.S. citizens, borrowers with shorter credit histories, and students in nontraditional programs.  Only lenders that balance affordability, transparency, and borrower support are recognized as winners. Being named a Best Private Student Loans for Parents signals that Ascent excels in these areas, helping families make informed financial decisions.  About U.S. News & World Report  U.S. News & World Report is the global leader for journalism that empowers consumers, citizens, business leaders and policy officials to make confident decisions in all aspects of their lives and communities. A multifaceted media company, U.S. News provides unbiased rankings, independent reporting and analysis, and consumer advice to millions of people on USNews.com each month. A pillar in Washington for more than 90 years, U.S. News is the trusted home for in-depth and exclusive insights on education, health, politics, the economy, personal finance, travel, automobiles, real estate, careers and consumer products and services.  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, including eligibility requirements, terms, and conditions, please visit https://www.ascentfunding.com/ascentbenefitsterms  1Only Ascent college loans are eligible for no fees. Ascent career training loans are subject to a one-time origination fee of 5.0% of the loan amount. All Ascent loans are eligible for no application, disbursement, late, NSF or early payment fees.  2 Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.  Please note: Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval.  Please borrow responsibly by maximizing scholarships and free financial aid, comparing federal and private student loans, and choosing the loan that best fits your needs. 

Deciding between a parent loan or cosigning a student loan? It’s best to start with federal Direct loans in your student's name. If there’s still a gap, a parent can take out a Parent PLUS loan up to the 2026 caps, then a private parent loan for the rest. Or a parent can cosign the student's private loan, so the debt stays in the student's name. Paying for college is often a shared effort. When scholarships, grants, and federal Direct loans don't cover the full cost, you'll most likely start to weigh two paths: taking out a loan in your own name or cosigning a private student loan with your student. There are even more nuances to this now in 2026. For Parent PLUS loans first disbursed on or after July 1, 2026, federal borrowing is capped at $20,000 per year and $65,000 total per student, so many families will need a supplemental private loan to finish closing the gap. If you're leaning toward borrowing yourself, visit Ascent’s parent loan page to see how parent loans for college work. If you’d rather help your student borrow, share the responsibility, and start building credit in your student’s name, learn more about cosigning a private student loan. Parent loan vs cosigning at a glance Parent PLUS loanAscent parent loanCosigned student loanWho borrowsParentParentStudent, with parent as cosignerCredit checkChecks for adverse credit historyCredit-based approvalCredit-based approval for parent and studentRate typeFixed, set by the federal governmentFixed or variableFixed or variable2026 limits$20,000 per year, $65,000 total per studentAggregate maximum: $200,000 for undergraduate loans and $400,000 for graduate loansAggregate maximum: $200,000 for undergraduate loans and $400,000 for graduate loansRepaymentOne standard plan for new loansInterest-Only or Immediate RepaymentDeferred, Interest-Only, $25 Minimum, or Immediate Repayment Comparing a Parent PLUS loan with a private parent loan? See our full guide to Parent PLUS vs private parent loans. What is a parent loan? A parent loan, whether a federal Parent PLUS loan or a private parent loan, is taken out entirely in a parent’s name. The student is not the borrower, and the parent is fully responsible for repayment. Under the updated 2026 rules, Parent PLUS loans no longer cover the full cost of attendance for new borrowers. They're capped at $20,000 per year and $65,000 total per student. A private parent loan can help you cover the remaining cost, up to the lender's limits. Key characteristics of a parent loan: The parent owns the debt Repayment responsibility stays with the parent New Parent PLUS loans have one standard repayment plan and are not eligible for income-driven repayment or Public Service Loan Forgiveness This option gives you full control, but also full responsibility. What is a cosigned student loan? Cosigning a private student loan means the student is the primary borrower, and as the parent, you agree to share legal responsibility for the loan. This is very common. Most undergraduate private student loans require a cosigner because students often don't have enough credit history or income to qualify on their own. In fact, Ascent borrowers with a creditworthy cosigner see rates that are meaningfully lower than those applying on their own and are 5x more likely to be approved.* Key characteristics of a cosigned student loan: The student owns the loan, the parent is equally responsible The parent and student are both accountable for repayment The loan appears on both the parent’s and the student’s credit reports On-time payments help the student build their own credit history Cosigning can help your student qualify and potentially get a better rate, but it comes with shared risk. Ascent offers cosigner release. Students can apply to release their parent after making 12 consecutive on-time payments and meeting the other criteria**. If approved, the parent is removed from the loan, and the student becomes solely responsible for repayment. The biggest difference: who is responsible? At its core, this decision comes down to ownership and control. With a parent loan, the parent is 100% responsible for repayment. With a cosigned loan, the student is the primary borrower, but the parent is legally responsible for the full balance if the student can't pay. Either way, the parent is financially on the hook. The difference is whether the parent is the primary borrower (parent loan) or the one who steps in if the student can't pay (cosigning). What changed on July 1, 2026 Federal law changed how Parent PLUS loans work for loans first disbursed on or after July 1, 2026: New borrowing caps: $20,000 per year and $65,000 total per student. One repayment plan: New Parent PLUS loans move to a single standard plan, with the term based on your balance. Fewer protections: New Parent PLUS loans are not eligible for income-driven repayment or Public Service Loan Forgiveness. If the student was already enrolled in a program before July 1, 2026, and either the parent received a Parent PLUS loan for them or the student received their own Direct Loan for that program, a limited exception may let the parent keep borrowing under the previous rules for a set period while the student stays in the same program. Check studentaid.gov for the details that apply to you. Source: studentaid.gov. For a full breakdown of repayment and costs, see Parent PLUS vs parent student loans. Is a cosigned student loan or parent loan better for me? There's no one-size-fits-all answer. The right option depends on each family's goals, resources, and comfort with shared responsibility. Questions to consider: Who will realistically handle monthly payments, during school and after graduation? Is it more important for the student to build their own credit, or to keep the debt off their record? How important is it to keep the loan in one person's hands? Would the option to release a cosigner later make a difference to your long-term plan? If a Parent PLUS loan is part of the plan, will the 2026 caps cover your gap, or will you need a private loan too? Talking through these questions can help your family choose a path that works, keep everyone clear on expectations, and set up both the parent and student for financial confidence. Frequently asked questions Should I get a parent loan or cosign my student's loan? It’s best to start with federal Direct loans in the student's name. From there, a parent loan (a Parent PLUS loan up to the caps, then a private loan) puts the debt in the parent’s name, while cosigning keeps it in the student's name and helps them build credit. For a full comparison of Parent PLUS and private parent loans, see our guide. What are the 2026 Parent PLUS loan limits? For loans first disbursed on or after July 1, 2026, you can borrow up to $20,000 per year and $65,000 total per student. A limited exception may apply if the student was already enrolled in the same program and either the parent received a Parent PLUS loan for them or they received a Direct Loan before July 1, 2026. Should a parent cosign the student's loan, or take out a Parent PLUS or private loan? Cosigning keeps the loan in the student's name and helps them build credit, though the parent shares responsibility. A parent loan makes the parent solely responsible. It comes down to whether it's more important for the student to build credit or to keep the debt off their record. Can a parent still get a Parent PLUS loan after reaching the new caps? Not for that student beyond the caps, unless the limited exception for students already enrolled applies to you. The parent can still take out a private parent loan or cosign the student's private loan to cover what's left. Final thoughts The right choice comes down to your family's financial priorities, communication, and long-term plan. With the 2026 Parent PLUS caps in place, it's worth mapping out your full funding gap early, so you know whether federal loans will cover it, or you'll need a private loan too. When you align expectations and understand the tradeoffs, you can move forward with confidence. *Based on Ascent Funding comparison of approval rates on college loans with cosigners versus individual loans in 2025. **For more information, including eligibility requirements, terms, and conditions, please visit www.ascentfunding.com/ascentbenefitsterms

Today’s student lending system often depends on credit scores and cosigners. But those measures do not always capture a student’s ambition or potential. As a result, many capable, motivated learners face barriers to support before they have the opportunity to show what they are truly capable of.  At Ascent, we aim to change that. Our outcomes-based lending pairs funding with built-in guidance and support, helping students and career learners stay on track, complete their programs, and prepare for meaningful opportunities after school.  Start with the video below, then keep reading to see how outcomes-based lending works and how Ascent supports learners from enrollment through career readiness.  https://youtu.be/ILBnTpo_Dvs?si=bXFz5XqpOqFG7Qjn   Why outcomes‑based funding matters  For too many students and learners, the traditional lending model does not reflect their potential or circumstances. That matters because access to education and the ability to finish it has real consequences for life outcomes, economic mobility, and community strength.  The gap in traditional lending  Private loans often rely on credit history or a creditworthy cosigner. In today’s economy, that can exclude capable learners for reasons that have little to do with their motivation or ability to succeed.  Young adults often do not have a long credit history, even when they are doing well academically.  First-generation college students may not have access to a quality cosigner.  Career changers and lifelong learners may face financial responsibilities that make traditional underwriting difficult.  Outcomes-based lending is designed to change that. By considering factors such as academic progress, program completion, and career readiness, these loans create opportunities for learners who might otherwise be left out.  How outcomes-based loans address this gap  Ascent’s outcomes-based loans focus on completion, progress, and long-term opportunity, helping qualified learners access funding when they need it most.  Juniors and senior undergraduate learners can use the Ascent’s College Outcomes-Based Loan® to cover tuition, fees, and other education costs, even if they have limited credit history or no cosigner. Eligibility for this loan type is based on several factors including major, GPA, cost of attendance, and graduation date.  Career-focused learners, whether upskilling, reskilling, or changing careers, can access the Career Outcomes-Based Loan®. With flexible repayment aligned to program completion or employment, this loan helps learners invest in their future without being held back by upfront financial barriers.  Graduate students also benefit from outcomes-based options, including loans that evaluate expected post-graduation earning potential rather than relying solely on current credit profiles. This helps ensure financing is manageable after completing advanced programs.  “We look at the whole person and their future potential,” said Allie Danziger, Ascent’s Chief Marketing Officer. “Then we help students plan, pay for school, and build the skills they need to succeed after graduation.”  Support beyond funding  Financing is only part of the picture. Students also need support to stay on track, build confidence, and get ready for what comes next.  All Ascent, borrowers get personalized coaching, career resources, and financial education that help with everything from managing time to acing interviews. Students also get access to apply to paid remote internship opportunities that give learners hands-on experience, helping them gain skills and confidence as they step into the workforce.  Strengthening learners, families and communities  Ascent has supported more than 220,000 people* and partnered with over 2,000 schools across the United States, providing more than $2 billion in funding for higher education and career-focused programs. These numbers show reach, but they only hint at the real impact.  When learners are able to finish their education, the effects ripple outward. Families gain stability, employers gain skilled talent, and communities grow stronger as more people fully participate in the economy. Supporting students is about more than tuition. It is about creating opportunities that last far beyond the classroom.  “This is why student success matters at every level,” said Danziger. “When individuals succeed, whether in school or in the workforce, their whole family benefits. Communities are strengthened, and society benefits. We are committed to removing barriers and helping more people access the education they want so they can contribute fully to their communities.”  Learn more about Ascent   No single company can solve the student finance system alone, but innovative models can move it forward. Ascent combines financial products with wrap-around student support, enabling more learners to access education and achieve academic and career success.  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.  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.  * Over 220,000 borrowers took out an Ascent loan for college or career training tuition or expenses between January 2018 and November 2025.