Private Student Loan Advice & College Financing Resources

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. 

Making the decision to go to dental school is a big decision. That’s why it’s important to have a clear understanding of the financial investment that you are signing up for. As you begin to explore your dental school options, you’ll also come across how you’ll navigate the costs and fund your education. Whether you are just starting to think about dental school, or starting your application, this guide will offer you the tools and information you may need about DAT fees, finding ways to pay for your tuition through scholarships, payment plans and more, to make your process easier and get you started on the right track.   “Pursuing a career in healthcare is undeniably challenging, but for those fueled by true passion, it becomes a deeply rewarding journey. The first and most important step is developing the right mindset and being prepared.” - S. Chintalapudi, Dental School Applicant  What is the DAT & What Are the Fees?  The DAT is the Dental Admission Test and it is crucial to your application process. The exam includes four sections timed over five hours and fifteen minutes. It is accepted by all dental schools in the U.S., and select schools in Canada, and is one of the factors that is considered when evaluating a potential student. When you apply for the exam, there is a non-refundable and non-transferable exam fee of $560. There is also a partial fee waiver that can cover 50% of the exam fee and 100% of a full practice test, but there are a limited number available per year. Additionally, you may have to qualify for additional requirements that you can find on the American Dental Association website and Candidate Guide.   In addition to figuring out how you will pay for the costs of the test, also make sure to choose the right testing day for you. Give yourself enough time and budget to take all the practice exams you may need and hire a tutor if  needed. Planning for your DAT exam properly will help set you up for success, both academically and financially!  “Beyond tackling rigorous science classes, you might need tutoring, which can range from free to $30 an hour. Shadowing dentists and volunteering are typically free but require significant time investment. Then comes preparing for the DAT. Prep courses range from $400 to over $1,000. Accelerated courses focusing on “high-yield” topics add another $100 or more per class. While many resources are available, programs like DAT Booster or Bootcamp often provide sufficient preparation within three months to six months.” - S. Chintalapudi, Dental School Applicant  Understanding Tuition  Similar to undergraduate tuition, dental school tuition can vary depending on if you are attending a public or private institution. On average, public dental schools have a total tuition of about $180K and private total tuition of up to $330K, as according to the ADA. However, tuition does not include everything you may need when in school. There are additional costs for dental instruments, textbooks, living expenses such as housing, food, transportation, and other potential school materials. These expenses could impact you by potentially adding another $32,000 or so to your total expenses.   “When interviewing at each school, the administration is pretty transparent on what the cost breakdown for everything is, but I didn’t expect dental school to cost more than medical school!” - T. Nguyen, Current Dental School Student   What are your funding options?  Don’t let the expenses overwhelm you. There are many ways you can fund your tuition and other expenses while in school.   Work Study: There are work study programs that give you the opportunity to earn money while also gaining experience on or off campus. Check with your school to verify if this is an option for you!   Part-Time Employment can also help provide a source of income as you balance work and study hours.   Payment plans may be another option for you if your school offers them. Payment plans allow you to separate your tuition payments into installments rather than paying the full amount all at once, which can make the expense more manageable.   Scholarships are also an option for you whether you are an undergraduate or graduate student. Ascent has helped students by awarding over $330,000 in no-essay scholarship giveaways! Big or small, any amount you are awarded can help cut your costs.   Ascent offers Dental School Loans with flexible repayment plans!  Get the financial flexibility you need to attend dental school by exploring your options and taking note of how you can prepare as you start applying.   “Expenses can accumulate quickly, including DAT prep courses, interview travel costs, primary and secondary application fees. However, planning ahead and seeking out resources and mentorship can make a significant difference in navigating this process more smoothly.” - M.Le, Dental School Applicant  Before you begin your dental school journey, keep in mind the costs of the Dental Admission Test (DAT), tuition, and living expenses. Being proactive in figuring out your funding options is the first step to preparing for a successful journey. While the application process and funding options can seem intimidating, Ascent is here to provide the information and resources that you may need. Contact a student loan specialist today.  

While managing your student loans can be intimidating, there are ways to simplify staying on top of repayment! It is important to organize information such as what type of student loan you have, certain dates you need to know, your repayment plan, and how to track your payment progress in a way that makes it easy to stay on top of. In this guide, we’ll break down how you can organize and manage your student loan repayment without stress.  The Cost of Missing Payments  Staying disorganized with your student loans could turn into some serious financial consequences. Losing track of payments could lead to missing payments, which then could lead to late fees, higher interest rates, and this could put your credit score in jeopardy. Don’t let your student loans become a long-term burden and take care of your future by being prepared and staying organized today.   Your Student Loan Options  First off: to manage your student loan repayment, you have to understand what type of loan you have. Do you have a federal student loan, a private student loan, or both? Gather the information you need about your loans, including the amounts, interest rates, and due dates. These key details will help you stay organized and avoid missing payments. Where can you get this information? Try checking your loan documents in an online dashboard or account. Make sure you know how to contact your loan servicer, which is the company that handles your payments, in case you have questions or concerns.  Creating your Payment Plan  Once you’ve gotten a clear understanding of your loans, you’re ready to create a payment plan! Most student loans have monthly minimum payments, which are the smallest amount that you are required to pay each month. However, paying more than the minimum payment can help you pay off your loan faster! If your budget allows it, or if you’re able to, paying more than the minimum can make a huge difference over time, and lower the amount of student loan interest you will pay in the future. With Ascent, there are no early repayment fees!   To stay on top of your monthly payment, and avoid missing one, you can enroll in automatic payments where the funds are automatically taken out of your bank account. Here at Ascent, we offer borrowers a 0.25%-1.00% discount on every payment when you are signed up for autopay*. If autopay is not available for you, or if you want another way to keep track of your payments, set personal reminders such as adding a reminder in your digital calendar or writing it in your physical calendar – however you keep track of important school or work deadlines. The key to having a successful plan is finding one that works for you.  Track your Payment Progress   After you’ve created a payment plan, it is essential to stay on top of your repayment by tracking your progress. Keeping track of your payment history and loan balance can help spot any potential discrepancies and see how far you’ve gotten. In addition, stay in touch with your loan servicer as they can provide updates on your account and let you know of any issues relating to your payments. Keeping an open line of communication with your servicer is a way to be proactive with your loan, so that you’re never caught off guard. Ascent has an app that makes it easy for you to manage your loans whenever and wherever you may be. The AscentConnect App allows you to make payments, set up autopay, check your updated loan details or balance, and more.  Extra Way to Pay: Scholarships  Applying to scholarships is an additional way to get funding for your student loan repayment. There are scholarships available for undergraduate and graduate students. Most scholarship applications are free, and it doesn’t hurt to apply - the key is to never stop applying! Even if you don’t think you’d be a good fit, you never know. Every scholarship that you are awarded can go toward reducing your loan balance or your expenses. The more you apply, the better your chances of being awarded some financial aid. Ascent has given away over $330,000 in scholarship giveaways to date. Apply now and make sure you sign up for our newsletter to stay up to date with future opportunities to win dollars for school.   Paying Off Your Student Loans:  Understanding your student loan type, creating a repayment plan, tracking your progress, and finding ways to reduce expenses are key steps in effectively managing your student loan repayment. While paying off student loans can feel overwhelming, breaking the process into manageable steps can make it easier and more manageable. Stay consistent with your student loan payments, and while it may take time, you'll pay off your loans sooner than you think!   * The final ACH discount approved depends on the borrower’s credit history, verifiable cost of attendance, and is subject to credit approval and verification of application information. Automatic Payment Discount of 0.25% is for credit-based loans and a 1.00% discount is for outcomes-based loans when you enroll in automatic payments. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. Automatic Payment Discount of 0.25% available for Credit-Based Loans and Career Training Loans and an Automatic Payment Discount of 1.00% available for Undergraduate Outcomes-Based Loans. Learn more at AscentFunding.com/Ts&Cs. 

Interested in applying for private student loans? Learn more about the step-by-step process of how to apply for a private student loan from Ascent Funding.

What happens when you default on your student loans? This question may arise in the minds of many borrowers, particularly during financially challenging times. Before accepting a college loan, it’s important to understand that neglecting student loan repayments can lead to consequences beyond immediate financial distress. These ramifications can influence your daily life and impact your financial health.  This article will discuss the potential risks associated with defaulting on student loans and provide strategies and knowledge to help prevent them. A strong understanding of your contractual obligations and the resources to help you repay your loans successfully is the first step toward maintaining your financial health.  The Importance of Paying Back Your Student Loans  Student loans, like any other loan, represent a promise. You've borrowed money to fund your education and pledged to pay it back. When you honor this promise, it's a win-win situation. Your credit score remains robust, making future borrowing easier, and it showcases your financial responsibility. You're meeting your financial obligations to your lender by repaying your student loans.  But what if things aren't going so smoothly? We know handling student loans with a cosigner or without can be tough. Life happens, work can be unpredictable, and balancing everything at once can feel like a juggling act. However, not paying student loans doesn't make these problems disappear. In fact, failing to pay back your student loans can make things much worse.  The Impact of Not Paying Student Loans If you are in a financial bind and considering defaulting on your student loans, know there are resources available to help you navigate these waters. The last thing you want to do is make a financial decision that will impact your financial well-being for years to come. The Federal Student Aid website is a great place to start. It's packed with helpful resources to guide you on your repayment journey. Remember, it's all about taking it one step at a time.  Below are some potential consequences borrowers may face for not paying back student loans.  Legal Ramifications Defaulting on student loans can lead to serious legal and financial repercussions. If you fail to make your scheduled loan payments for at least 270 days, your federal student loans enter a state of default. This can trigger a series of consequences, including wage garnishment and withholding of tax refunds.  Once your loan enters default, the entire unpaid balance and all accrued interest become due immediately—a process known as acceleration. The federal government can then garnish up to 15% of your disposable income without a court judgment. Additionally, your tax refunds and federal benefit payments may be garnished or withheld to repay your overdue student loan balances, a process known as Treasury Offset.  Consequences can vary based on the type of student loan—federal or private—and the specific terms of your loan agreement. Therefore, it's crucial to understand your loan terms and seek advice from a financial advisor or legal professional if you struggle to make payments. Ascent has a library of financial wellness resources to help you understand your options regarding responsible borrowing.   Negative Effects on Credit Score Your credit score might seem abstract, but it's a key player in your financial journey. This three-digit number can influence your ability to secure future loans, the interest rates you'll be offered, and even your eligibility for renting an apartment. If you cannot make student loan payments, it's important to know that this can lead to a dip in your credit score.   Late or missed payments on your student loan can negatively impact your credit score. Furthermore, when your loan defaults, your credit report may reflect multiple missed payments, significantly lowering your credit score.   Student loan repayment isn’t just about consequences, though. Making regular on-time payments on student loans will help you build and maintain a healthy credit score, setting you up for financial success in the future.  Ineligibility for Federal Student Aid  One of the lesser-known consequences of defaulting on your student loans is the potential ineligibility for further federal student aid. This could pose a significant barrier if you plan to return to school or pursue further education. You may put your grad school dreams on hold until your defaulted loans are resolved.  The impact of not paying back your student loans can be severe and long-lasting. Failure to pay back your student loans and the impact this decision could have on your credit score may impact your future and financial health for years to come. The penalties associated with default can also result in hefty expenses, especially for borrowers who are already financially vulnerable.   It's important to note that the consequences of defaulting on student loans can vary depending on several factors, including the type of loan, the duration of the default, and state laws. Therefore, it's crucial to understand the terms of your loan agreement and seek advice from your lender or a legal professional if you're struggling with repayment.   Exploring Alternative Repayment Options  If you're struggling to make student loan payments, it's important to know that alternative repayment options are available. These options can make your debt more manageable and help you avoid the negative consequences of defaulting on your loans.  Loan Forgiveness Programs  Loan forgiveness programs can be a lifeline for those struggling with student loan debt. These programs can eliminate part or all of your loan if you meet certain conditions. For instance, the U.S. Department of Education offers forgiveness and discharge programs for federal student loans. You may qualify to have some or all of your loans forgiven or discharged in certain situations, such as working in public service or in instances of total and permanent disability.  Repayment Plans In addition to loan forgiveness programs, repayment plans can help make your monthly payments more manageable.  Remember, the key is to take action and explore these options before your loans go into default. If you're unsure what steps to take, consider contacting your loan servicer or a financial advisor for guidance.  Seeking Professional Help for Student Loan Repayment  Navigating the complexities of student loan repayment can seem daunting, but remember, you're not alone. Professionals and resources are available to help you manage your student loan debt, understand the intricacies of your loans, explain your options like student loan forbearance or student loan deferment, and even negotiate with your lenders on your behalf.  Learn More with Ascent At Ascent Funding, we're devoted to helping students and their families understand the ins and outs of student loans. Whether you're working to manage your student loan payments or simply eager to understand more about committing to a student loan, we have many resources tailored to your needs.  No matter where you are in your journey—whether you are embarking on your college adventure or already addressing student loan repayment—explore our Financial Wellness Hub and find resources to guide your path to financial success for years to come.   FAQ What are the Implications of Not Repaying My Student Loans? Deciding not to repay your student loans carries several severe legal and financial consequences. From a legal standpoint, your creditor could take action against you to recover the debt. This might take the form of wage garnishment, where a percentage of your earnings is automatically directed toward repaying the loan, or you may face a lawsuit. In some extreme federal student loan cases, the government can withhold your income tax refund or social security benefits.  From a financial standpoint, defaulting on student loans can drastically lower your credit score. A lower credit score can lead to a series of negative outcomes. For instance, it can make it harder for you to secure loans or credit in the future, or you may be charged higher interest rates. It also makes it difficult for you to rent an apartment, get a cell phone plan, or even get a job, as some employers check credit scores. So, it's critical to understand that evading repayment of your student loans is not a sustainable strategy and can lead to significant challenges down the line.  Will My Student Loans Automatically Disappear After 7 Years?  Whether your student loans will drop off your credit report after a finite amount of time depends on the type of student loan and the statute of limitations for the state you live in. Private student loans have a statute of limitations ranging between three to ten years, depending on your state of residence. Federal student loans, however, do not have a statute of limitations, which means they can stay on your credit report indefinitely or until the loan is paid off.   How Long Can I Go Without Making Payments on My Student Loans?  The duration you can go without making payments on your student loans before defaulting depends on your loan type. For federal student loans, you're typically considered in default after you haven't made a payment for 270 days (approximately nine months). For private student loans, the time frame can vary significantly and depends on the terms set by your lender—it could be a much shorter period.  However, missing even one payment can negatively impact your credit score. It can also lead to late fees and potentially accelerated repayment of the full loan amount. It's crucial to understand the consequences of not paying student loans and to take proactive measures to avoid default. If you're struggling to make payments, contact your loan servicer. They can provide information about deferment, forbearance, or income-driven repayment plans that could provide some temporary relief. 

As with all loan types, your credit score significantly impacts your eligibility for private student loans. Your credit score may also affect critical aspects of the loan, such as the total loan amount, interest rate, lender options, and repayment terms. But what is the necessary credit score for student loans? Read more to find out.  Federal Student Loans vs Private Student Loans Credit Scores  In most cases, your credit score can impact your approval for a loan, your interest rates and loan terms, and whether you need a cosigner. The credit score requirements of federal student loans and private student loans differ significantly, as do their benefits.  Credit Requirements and Benefits of Federal Student Loans  Federal loans, including Direct Subsidized Loans and Direct Unsubsidized Loans, do not have strict credit score requirements. Instead, federal loan eligibility is based primarily on financial need and enrollment status. Additionally, federal student loans do not require a cosigner.  There are many benefits of federal student loans. Direct Subsidized Loans offer interest subsidies (meaning the government pays the interest on the loan) while the borrower is in school or during grace or deferment periods. Federal loans offer income-driven repayment plans that adjust monthly payments based on the borrower’s income.   Public Service Loan Forgiveness is available for borrowers who have made the equivalent of 120 qualifying payments and work in public service jobs, such as working for government agencies or nonprofits. Federal loan borrowers facing financial challenges may also qualify for deferment or forbearance programs to reduce or postpone payments.  Federal Loans have fixed interest rates that remain for the life of the loan, and these rates may be lower than those from private lenders. Federal student loans also have predictable, standard repayment plans, but many borrowers have the option of graduated or extended repayment plans.  Credit Requirements and Benefits of Private Student Loans The credit score requirements of private student loans vary tremendously between providers, but most loan products require a certain credit score. Your credit score and history can impact the terms of your private loans, which is why private student loans often require cosigners. This is especially true for borrowers with low credit scores or minimal credit history.   Private student loans may offer many benefits and include customizable features. They can have fixed interest rates, variable interest rates, or rates that change over time based on market conditions. Private lenders often provide greater flexibility in choosing repayment terms, allowing borrowers to customize repayment plans based on their situation. ​​For example, Ascent has up to 40 repayment options–more than any other student loan–ranging from 5 to 20-year terms, depending on your program and the loan options.   Additional benefits like zero fees, cash back at graduation, and automatic payment discounts are other common perks to look out for when evaluating lenders. Some private lenders (including Ascent) also offer cosigner release options, which will relieve cosigners from responsibility for the loan if the primary borrower meets certain criteria.   Remember that loan terms, rates, and benefits will vary significantly between lenders and borrower qualifications, so it is important to do your research and find the best fit for your needs. Often, students may apply for a combination of federal and private student loans in order to cover the full cost of tuition expenses.   Understanding Credit Score for Private Student Loans  While every lender requires different credit score requirements for specific loans and terms, understanding the general credit ranges can help predict the type of loan and loan terms you will get based on your credit score.   For example, FICO® scores are based on the credit score ranges below:  Poor Credit: 300 to 579  Fair Credit: 580 to 669  Good Credit: 670 to 739  Very Good Credit: 740 to 799   Excellent Credit: 800 to 850   ​​​  As with any type of credit-based loan, a higher credit score is generally a sign that the borrower may be more credit worthy, and therefore more likely to pay the loan back on time. ​This could have an impact on your eligibility or the loan terms you are offered. ​But​, fear not,–there ​are options for aspiring borrowers with low credit scores or no credit history at all. If you are unable to qualify for a loan on your own, you can consider applying for a student loan with a cosigner.  While many lenders do have a minimum credit score, these requirements will often vary based on the loan product, credit history, and whether you are applying with or without a cosigner. In many cases, the only way to find out how your credit score will impact your eligibility or interest rate is to apply.   How to Find Out Your Credit Score for Student Loan Applications There are several ways to determine your credit score. The easiest option for many individuals is to obtain their credit score from major credit reporting agencies, including Equifax, Experian, or TransUnion. You are also entitled to one free credit report each year from AnnualCreditReport.com. Checking your credit report annually is a great way to keep track of your credit score and does not count as a hard inquiry against your credit profile.   Some credit monitoring agencies also provide ongoing access to your credit score, and many banks and financial institutions also offer free access to credit scores through their online platforms. Some credit card statements also include your credit score.  ​​​Many lenders will also allow you to check your rate without affecting your credit score in just minutes. This can be helpful if you are looking to get an idea of your ​prequalified​ rates or compare rates across different private lenders.   Tips to Improve Your Credit Score for Student Loans  Luckily, there are many ways to improve your credit score for student loans. Some of the most important strategies you can use include:  Make timely payments on all your bills, credit cards, and loans.  Reduce your credit card balances to keep your credit utilization rate (the ratio of your credit card balances to your credit limits) below 30%  Check credit reports and dispute any errors.  Only open new credit accounts after you have completed the student loan application process.  Diversify your credit mix using various types of credit, including credit cards, installment loans, and retail accounts.  Establish a good credit history if you have limited credit history. For example, opening a low interest credit card is a strategy that many college students use to start building credit early on.   Getting Student Loans Without a Cosigner A cosigner agrees to share the obligation to repay the loan if the primary borrower is unable or unwilling to do so. Getting student loans without a cosigner can be challenging, especially if you have limited credit history or low credit scores. However, there are some strategies that you can use that will make it more likely.  Build a positive credit history.  Investigate multiple loan providers, both private and federal.  Apply to lenders that consider other factors besides credit scores.  Demonstrate stable income or employment.  Apply for scholarships and grants.  Even if you can qualify for a student loan without a cosigner, applying with a cosigner may help you qualify for a larger loan, lower interest rates, or better loan terms.  Although cosigned loans are most common for students with poor credit or little credit history, there are options available for prospective students who do not have or want a cosigner. For example, Ascent offers credit-based and outcomes-based loans without a cosigner for eligible students. In addition to credit-friendly programs, some lenders may offer secured loans, where the borrower provides collateral, such as a savings account or real estate, to secure the loan. Secured loans can be a great option for students with low or no credit and are figuring out how to pay for college.   If you do plan to apply with a cosigner, visit our blog for more tips on how to find a cosigner for your student loan.  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 college loans and undergraduate student loans, we are here to help students and their families make informed decisions about their future in college, and beyond.  Credit Score for Private Student Loan FAQ Is it Hard to Get Approved for a Student Loan?  The difficulty to get approved for a student loan depends on many factors. Borrowers with a high credit score and good credit history may find it easy to get approved for a low-interest rate loan with favorable terms. On the other hand, borrowers with poor credit scores or little credit history may struggle to get approved for a student loan, particularly if they do not qualify for federal student aid. Luckily, Ascent makes the application process as simple and easy as possible.  What Disqualifies You from Getting a Student Loan? Different lenders will disqualify you from getting a student loan for different reasons. The good news is even if one disqualifies you, another may not. Some common reasons for disqualification may include:  Defaulting on existing or previous student loans  Exceeding borrowing limits  Failure to meet satisfactory academic progress (SAP) requirements  Conviction of drug offenses  Filing for bankruptcy  Failure to register for the Selective Service (the draft)  Not being enrolled in an eligible program  Outstanding refund owed on a federal grant  Does Bad Credit Affect Getting Student Loans? Bad credit can have a tremendous impact your student loan application. Many lenders will not lend to you at all, and those that will lend to you, will often only do so if you agree to relatively unfavorable terms or to have a cosigner. Bad credit may decrease the total loan amount you are approved to borrow, and increase your interest rate. 

Understanding how student loan interest works and how it's calculated can help you manage your debt more effectively–and potentially save you money. Staying informed and making smart decisions about your student loans can help you invest in your education without sacrificing your financial future.  Key Takeaways Student loan interest is calculated daily and added to your balance monthly. Interest typically begins accruing upon disbursement. Calculate your student loan interest by finding the daily interest rate (annual interest rate divided by days in the year). Next, multiply your daily interest rate by your outstanding loan balance to determine how much interest accrues each day. Then multiply your daily interest accrual by the number of days in your billing cycle to determine your monthly interest charges. Capitalization occurs when unpaid interest is added to your principal balance. This makes your total debt bigger, so you’ll pay interest on a higher amount going forward. This typically happens after a deferment or grace period. There are two main types of interest rates: fixed and variable. Fixed rates remain the same, offering predictable payments. Variable rates fluctuate with the market, potentially affecting your monthly payment and total repayment amount. Understanding Student Loan Interest  When you take out a student loan, you're not just borrowing the amount you need for school; you’re also agreeing to pay interest, a cost calculated as a percentage of the principal amount. Interest is essentially the price you pay for the opportunity to borrow the money. Understanding how interest is calculated on student loans is crucial for managing your debt and planning your financial future.  Interest on student loans is typically calculated daily and added to your loan balance monthly. The amount of interest you owe depends on your loan's interest rate, the amount of your loan, the time it takes to repay it, and other loan terms. Generally, the longer you take to repay your loan, the more interest you'll pay.  Types of Student Loan Interest The primary types of student loan interest are fixed and variable. Let’s take a deeper look at the two and how they differ.   Fixed Interest Rate Loans Fixed interest rate loans have an interest rate that remains the same for the life of the loan. This means your monthly payments will be predictable, and you'll know exactly how much you'll pay over the loan term. Federal student loans typically have fixed interest rates, not based on credit score or financial history, but are set by law.   Variable Interest Rate Loans Unlike fixed-interest rate loans, variable interest rates fluctuate over time to mirror market conditions. Variable interest rates are typically tied to a financial index and can rise or fall based on the current market interest rates. While variable rates are sometimes lower than fixed rates, they're also less predictable. If rates increase significantly, so could your monthly payment and total loan cost.  Differentiating Principal and Interest Payments When you make a payment on your student loan, it's applied to both the principal and the interest. Initially, a large portion of your payment goes toward the interest. Over time, as the principal balance decreases, more of your payments are applied to the principal. Understanding this concept can help you make informed decisions about how to calculate interest on student loans and how extra payments or a different repayment plan might affect your total cost.  Steps on How to Calculate Student Loan Interest Let’s start by breaking down the equation for calculating student loans. Interest = Principal Balance x Daily Interest Rate x Time  Principal Balance: The initial amount borrowed on your student loan.  Daily Interest Rate: Your annual interest rate is divided by the number of days in the year.  Time: The number of days you want to calculate the interest.  You can calculate the amount of interest that accrues on your loan by plugging these values into the equation. Continue reading for the steps on how to calculate student loans:  1. Find Your Daily Interest Rate The first step in calculating your student loan interest is to find your daily interest rate. This is your annual interest rate divided by the number of days in the year. For example, if your annual interest rate is 5%, your daily interest rate would be approximately 0.0137%.  2. Determine Daily Interest Accrual Charge Next, you'll need to determine how much interest accrues each day. You do this by multiplying your outstanding loan balance by your daily interest rate. For instance, if your loan balance is $20,000 and your daily interest rate is 0.0137%, you would accrue about $2.74 in interest per day.  3. Multiply by Days in Billing Cycle to Find Monthly Payment Finally, to find out how much interest you'll be charged in a month, multiply your daily interest accrual by the number of days in your billing cycle. Continuing with the previous example, if your billing cycle is 30 days, you would accrue about $82.20 in interest for that month.  Tools and Resources for Calculating Student Loan Interest   ​​​​​From college degree ROI calculators to federal loan simulators, there are plenty of tools and resources available to help you understand how to calculate student loan interest. These tools can provide a detailed explanation of your loan, including how much of your payments are towards interest versus the principal and how extra payments or a different repayment plan might affect your total cost.  In addition to online calculators, your loan provider should give you detailed loan statements that break down your payments into principal and interest. Your provider should give you a clear picture of how your payments are applied and how much of your loan balance is still outstanding. If you’re unsure how to read your loan statement or have questions about your interest rate, don’t hesitate to reach out to your lender for assistance.  What is Capitalization of Interest? When calculating your student loan interest, it's also important to understand the concept of capitalization. Capitalization is when any unpaid interest on your student loan is added to the principal balance. This can happen at certain times, like when your loan enters repayment or after a period of deferment or forbearance.  When interest is capitalized, it increases the principal balance of your loan, which means you'll be paying interest on a larger amount. This can increase the total cost of your loan and make your monthly payments higher. This information can help you plan your payments and potentially save money in the long run.  When Student Loan Interest Starts  Interest on student loans typically starts accruing as soon as the loan is disbursed. This means that your loan could accumulate interest even while you’re still in school. However, with some types of loans, like subsidized federal loans, the government will pay the interest while you're in school, during the six-month grace period after you leave school, and during any periods of deferment. That’s why it is important to understand the difference between subsidized vs. unsubsidized loans.   For unsubsidized loans, the interest starts accruing when the loan is disbursed. If you choose not to pay the interest while you're in school or during your grace period, it will be capitalized, or added to your principal balance, when you start repayment.  The Importance of Understanding Student Loan Terms  Understanding how student loan interest works is just one part of managing your student loans effectively. It's also important to know the terms of your loan agreement, including your repayment schedule, the consequences of missing a payment, and what options you have if you're struggling to make your payments.  For example, many student loans offer deferment or forbearance options, which allow you to temporarily stop making payments or reduce your payment amount if you're facing financial hardship. However, interest may continue to accrue during these periods, which can increase the total cost of your loan.  Learn More with Ascent  At Ascent, we're committed to helping students and families navigate the world of college loans and make informed financial decisions. We offer a range of financial wellness resources to help you understand your loan options and manage your student loan debt effectively. Whether you're just starting your college journey or seeking graduate student loans to help you further your education, we're here to help you reach your academic and financial goals.  FAQ  How do you reduce the total interest paid on student loans? You can use several strategies to reduce the total interest paid on your student loans. One of the most effective ways is making a payment more than the minimum monthly amount. Paying above the minimum can help you reduce your principal balance faster, which means you'll be charged less interest over the life of the loan.  Another strategy is to refinance your student loans. Refinancing involves taking out a new loan with a lower interest rate to pay off your existing loans. Refinancing can reduce your monthly payment and the total amount of interest you pay. However, refinancing isn't right for everyone, and it's important to consider the pros and cons before deciding.  What happens if you don't make student loan payments?  You could face serious consequences if you don’t make your student loan payments. Your loan could become delinquent, and if you continue to miss payments, it could go into default. This can damage your credit score, making it harder for you to get credit cards, auto loans, or mortgages in the future.  In addition, if you default on federal student loans, the government can collect the debt, including garnishing your wages or withholding your tax refund. If you're struggling to make your student loan payments, it's important to reach out to your lender as soon as possible. They may be able to work with you to find a solution, such as changing your repayment plan, applying for deferment, or forbearance.  Do student loans have interest? Yes, student loans do have interest. The interest rate can vary depending on the type of loan and the lender. By law, federal student loans have fixed interest rates, while private student loans can have either fixed or variable rates. The interest on your student loans can significantly affect the total cost of the loan, so it's important to understand how to calculate interest on student loans and consider the interest rate when choosing a loan. 

The Free Application for Federal Student Aid, or FAFSA, is the first step in the application process for federal student aid, encompassing all federal loans. For students looking to secure financial aid for the upcoming school year, it can pay off to be proactive and file the FAFSA as early as possible.   Read on to find out why, plus we'll review important FAFSA deadlines, eligibility requirements, and tips for a successful application process. 5 Benefits of Filing the FAFSA Early Filling out the FAFSA early maximizes your chances of securing the most possible federal aid. The sooner you apply, the sooner you’ll have a clear view of the bigger financial picture. This gives you more time to seek out alternative sources of funding—like private student loans—should federal aid not cover the full cost of your tuition and expenses.  Those are just a few reasons to file the FAFSA as early as possible. Here’s the full list:  1. Maximize Financial Aid Opportunities Some federal student aid, namely grants and scholarships, areis awarded on a first-come, first-served basis. Completing the FAFSA early gives applicants the best chance of securing the maximum federal financial aid they may qualify for.  2. Access to State Grant Programs Not only is some federal aid granted on a first-come, first-served basis, but a portion of state aid is as well, especially state grant programs. Since many of these programs determine eligibility at least partially through the FAFSA, filing early may increase your eligibility for state grants and other state student aid.  3. Avoid Last-Minute Panic The college and student aid application processes can be stressful, especially when facing critical deadlines. Avoiding last-minute rushing gives you time to ensure your FAFSA submission is thorough and accurate. This can help curb your stress levels and ensure you can provide the most accurate information on the application.   4. Ease of Comparison Between Colleges  The sooner you complete the FAFSA, the sooner you may receive your financial aid award letters. This can give you more time to carefully compare the aid packages offered by different colleges and make the best possible decision for your educational (and financial) future.   5. More Time to Pursue Other Forms of Financial Aid Submitting the FAFSA and getting your results as early as possible gives you more time to explore and pursue other financial aid options, such as scholarships and private grants. It also gives you more time to pursue private student loans as a supplemental option should federal aid leave a gap between funding and your total expenses.  FAFSA Eligibility Requirements To qualify for federal student aid through the FAFSA, prospective students must meet the following general FAFSA eligibility requirements:  A demonstration of financial need as determined by information provided in the FAFSA  U.S. citizenship, U.S. national status, or eligible noncitizen status  A valid Social Security Number, unless the applicant is a citizen of the Freely Associated States  A high school diploma, GED, or other recognized ability-to-benefit alternative  Enrollment (or acceptance for enrollment) in an eligible degree or certificate program  Continued satisfactory academic progress  In addition to the above, you’ll also have to consent to have your personal tax information transferred into the FAFSA form and sign a certification statement pertaining to your intended use of funds and qualification to obtain further education. For a visual aid on the information above, check out this FAFSA eligibility infographic.   The Importance of Meeting FAFSA Deadlines Meeting FAFSA deadlines is critical for several reasons. First, it can help ensure that you receive the maximum federal financial aid you’re eligible for. Second, it can impact your ability to meet deadlines for state and institutional aid programs. Lastly, advanced planning can help your family plan for college funding and their anticipated contribution.  Conversely, missing important FAFSA deadlines can have negative consequences. The pool of available funds you’re eligible to receive might be reduced, limiting financial aid options, and the disbursement of your financial aid may be delayed. Additionally, many aid programs have strict deadlines, leaving applicants who file late submissions ineligible for certain types of aid.  With​​​​​ that in mind, here are some important FAFSA deadlines for the 2024-25 school year:  December 31, 2023 – The 2024 FAFSA goes live; the earliest possible application date  February 1, 2024 – The first state deadline for priority consideration (some states don’t offer priority consideration, and those that do have different dates)  April 2, 2024 – The first state deadline for program consideration (all states have different dates)  June 30/July 1, 2024 – The deadline for many states (most states set their deadline either at this point or before)  ​​June 30, 2025 – The last possible date a 2024 FAFSA can be submitted​​​  ​​​September 14, 2025 - The deadline for any corrections or updates to be submitted​​​​  School deadlines – Each institution may have its deadline; check with the school you’re interested in attending  ​​​     ​​​The 2025-26 FAFSA form is scheduled for public release on or before December 1, 2024. Additional deadlines will be added as they are announced, so check back for updates.​​  Although not ideal, there are still options if you submit the FAFSA late. However, it will limit your options considerably. According to StudentAid.gov, “some states and colleges continue to award aid to FAFSA latecomers.” Still, your odds of receiving aid become slim, and payouts are often lower.  Contact the financial aid offices at schools you’re considering for assistance and information on their options for late submissions. Private scholarships, grants, and loans are one possibility to potentially replace federal or state aid for students who miss deadlines.  Tips for a Successful FAFSA Application  Completing the FAFSA can significantly impact the financial aid you’re eligible to receive. Here are some tips for a successful application.  Gather the necessary documents and information immediately and keep them in a single, easily accessible location. This includes Social Security numbers, tax returns,  tax forms (such as your W-2), and other financial records.  Provide up-to-date and fully accurate information to increase approval chances and minimize delays or errors in the application process.  Complete and submit the FAFSA as early as possible to maximize possible aid.  Seek professional guidance from financial aid professionals or counselors if you are unsure about any aspect of the FAFSA.  Keep track of all federal, state, and institutional application deadlines that apply to you, and make sure you meet them.  Carefully review the confirmation page for accuracy and completeness after you submit the FAFSA and address any issues immediately.  Update your FAFSA if your financial circumstances change significantly.  Learn More with Ascent You deserve to achieve your academic dreams. But to do so, you must be able to fund them. Whether you’re looking for graduate or undergraduate student loans, Ascent is here to help with a range of options to finance your education, including cosigned student loans and no cosigner student loans.   Visit our Bright Future Hub for more resources to help you succeed in college and beyond.  FAQ Do you get more money from FAFSA if you apply early? You can often get more money from FAFSA if you apply early. There are a few reasons for this. You may be prioritized for the many federal, state, and institutional aid programs allocated on a first-come, first-served basis. You will also have more time to apply for scholarships, grants, and private student loans and to compare the financial aid packages offered by institutions you’re considering.   Why is it best to file the FAFSA as early as possible? There are many reasons why it’s best to file the FAFSA as early as possible. Some of the most important include:  Maximizing the financial aid opportunities available to you  Maximizing access to state and institutional aid programs  Receiving award notifications faster  Having more time to make informed decisions about college acceptance and financial planning  Maximizing the chances of taking part in the Federal Work-Study program  Planning and comparing financial aid packages and eligibility as soon as possible  Meeting institutional and state financial aid application deadlines  Reducing stress and last-minute panic  Minimizing the possibility of mistakes and errors that could negatively impact financial aid eligibility  When should I fill out my FAFSA? You should fill out your FAFSA as soon as possible. The FAFSA for the 2024-25 school year is live and can be filled out anytime. Be aware that each state and institution will have its own FAFSA application deadlines, as will many private scholarships and grants. The last possible day to fill out the 2024-25 school year FAFSA is June 30, 2025. 

If you submitted the Free Application for Federal Student Aid (FAFSA) and are anticipating a gap between your covered financial aid and your tuition expenses, you’re not alone. Like many students and families in your situation, you’re likely exploring supplemental financing options to help you cover the rising costs of college. This is where options like scholarships and private student loans can come in handy.   Understanding the different options for student loans can be a stressful, but important step as you prepare for your educational journey. One consideration you need to make when selecting a student loan is the interest rate. You can choose from two major types of interest rates: fixed or variable.  Whether a student loan with a fixed or variable interest rate is a better choice depends on many factors, including your financial circumstances, educational goals, and loan terms. Read on to understand how student loans work and the differences between fixed and variable interest rate student loans.  What Is a Fixed Rate Student Loan?  A fixed rate student loan is a type of student loan with an interest rate that remains the same for the duration of the loan. The payment due on a fixed rate student loan will not change over the life of the loan. Fixed rate loans can help protect borrowers from increases in market interest rates that could otherwise cause payments to fluctuate.   Fixed rate student loans can cover some education-related expenses, including tuition, fees, housing, textbooks, and other educational necessities. Fixed rate loans can apply to undergraduate, graduate, and professional degrees.   Typically, repayment on a fixed rate student loan begins once the student completes their degree program, and repayment is done through installments over a fixed number of years. Many lenders offer flexible repayment options, so be sure to compare lenders while you are doing your research.    Pros and Cons of Fixed Rate Student Loans  There are many advantages of fixed rate student loans, including:  Stability and predictability of monthly payments.  The ability to accurately and confidently budget your future payments.  Protection for borrowers from fluctuations and increases in market interest rates.   Knowledge of the total cost of the loan from when it is signed.  A potentially lower overall cost if interest rates rise significantly over time.   High desirability for risk-averse borrowers.  On the other hand, there are also some disadvantages of fixed rate loans, those include:  Likely higher initial interest rates.  Likely higher initial loan payments.  No benefits or cost savings if interest rates go down.  Lower flexibility than variable rate loans.  Potentially higher overall loan costs when market interest rates remain low over time.  The loan may not reflect future economic conditions or market interest rates.  What Is a Variable Student Loan? Also known as an adjustable-rate student loan, a variable student loan has an interest rate that can periodically change. In most circumstances, changes in variable rate student loans are caused by updates to a specified financial index. The terms of your loan will determine how often the interest rate may change, whether annually, semi-annually, or monthly.   Due to changing interest rates, the payments on a variable rate student loan may fluctuate significantly over the life of the loan. Variable rate loans expose borrowers to fluctuations in market interest rates.  Like fixed rate student loans, variable rate loans can be used to pay expenses for undergraduate, graduate, and professional degree programs and for education-related expenses, such as tuition, fees, room and board, textbooks, and other necessities.   Repayment for variable rate student loans typically begins after the borrower is no longer enrolled in their degree program unless deferred for some reason, such as entering a new degree program. Repayment takes place over a set time through installments.  Like fixed rate loans, multiple student loans can be consolidated into a single variable rate student loan.  Pros and Cons of Variable-Rate Student Loans  There are many advantages of variable rate student loans, including  Likely lower initial interest rates.  Likely lower initial loan payments.  May decrease interest rates and loan payments over time.  High cost-effectiveness in low interest rate environments.  Potentially lower overall loan costs in low interest rate environments.  Greater flexibility than fixed rate student loans.  May better reflect future economic conditions or market interest rates.  On the other hand, some disadvantages of variable rate student loans include:  Expose borrowers to interest rate volatility.  Eliminate the ability to accurately budget for more than a short period in the future.  Potentially higher interest rates.  Potentially higher monthly payments.  Potentially higher overall loan costs if interest rates rise over time.  Less desirable for risk-averse borrowers.  May expose borrowers to greater refinancing risks.  Dependency on market conditions.  Uncertainty of the total cost of the loan until it is paid in full.  Do not protect borrowers from fluctuations and increases in market interest rates.  Factors to Consider When Choosing Between Fixed vs. Variable Rate Student Loans  Many factors must be considered when choosing between a fixed rate vs variable rate student loan. Here are some of the primary factors you should evaluate:  The Interest Rate Outlook: If interest rates are expected to remain low or increase gradually over the life of the loan, variable rate loans are often more desirable, and vice versa.  Risk Tolerance: If you prefer stability, accurate planning, and low risk fixed rate loans are a better choice. If you are willing to accept some risk of paying more under certain market conditions in order to potentially pay less initially, variable rate loans might be a better choice.  Loan Repayment Timeline: The shorter the loan repayment time, the less likely you are to experience significant interest rate changes.  Loan Terms and Conditions: Be sure to carefully review the terms and conditions of each loan you are considering, including any and all rate caps or limits on variable rate adjustments.  Overall Financial Goals and Stability: You should consider your financial priorities, such as a consistent monthly payments, minimizing risk, paying the least possible amount, projected salary, and much more.  Should I Get a Fixed or Variable Rate Student Loan?  Deciding on what type of loan to apply for can be challenging. Unfortunately, unless you can predict the future, it is impossible to know whether a fixed or variable student loan will be the right choice for you. However, making an informed decision about the best decision for your situation is possible.  The first thing to consider are your loan options based on income, credit score, and other eligibility criteria. You may only get approved for certain loans depending on your credit score and other factors. You will need to compare all the terms and conditions of the specific loans to decide on the right one for you.   When comparing fixed vs. variable rate student loans, you must balance many factors and consider your circumstances and preferences.   For example, if you are uncomfortable with risk, a variable rate loan will probably not appeal to you. On the other hand, if the potential to save money over the long term is worth some risk to you, a variable rate loan might be ideal. ​​​​If you anticipate your salary will remain relatively stable over time, a fixed rate loan might be more advantageous.  For a better understanding of your potential rates and repayment options, it can be helpful to review some hypothetical APR and repayment examples. If you are ready to view your personalized rate, you can check your rate in minutes without impacting your credit score.    Learn More with Ascent Choosing the right student loan is a major decision that will impact your finances during and after college. Knowledge is power, so research which loan type is best for your unique circumstances.  Whether you are looking for more information on how to get a student loan or comparing undergraduate student loans, Ascent is here to provide various financial wellness resources for students and families. If you need an additional financial boost to help cover your tuition expenses, we offer several loan types to meet your needs including cosigned student loans and no cosigner student loans.   We look forward to helping you take the next step toward pursuing your goal in college, and beyond.  Fixed Rate vs Variable Rate Student Loan FAQs Can I Change my Student Loan from Variable to Fixed?  In many cases (but not all), you can change your student loan from variable to fixed if you meet certain criteria. You can do so by consolidating multiple student loans into a single fixed rate student loan or by refinancing the loan. Whether or not these options are available to you, as well as the specific terms that are available to you, will depend on several factors, including the type of student loans you have, the policies of the lender or loan servicer, the terms of your loan, and your creditworthiness and repayment history.  Can you Refinance on a Fixed Loan?  It may be possible to refinance a fixed rate student loan. You will typically have to obtain a new loan with different terms, including a new interest rate. Whether you can refinance a fixed rate student loan depends on several factors, including the loan type, the lender’s policies, and your financial situation. It may also be possible for you to consolidate your fixed rate student loans with other student loans to form a new, single student loan. 

The Free Application for Federal Student Aid (FAFSA) is a form current and future students need to fill out to get financial aid. Learn more from Ascent Funding.

As the cost of education increases, scholarships have become a lifeline for countless students looking to pursue their academic dreams. However, with so much competition and so many options, the scholarship search can be disheartening. Understanding the nuances of scholarship applications, finding the right opportunities, and writing a winning scholarship essay remain daunting tasks for many. Luckily, Ascent and Road2College joined forces to discuss scholarship options, featuring panelists Will Greiger, Allie Danziger, and Debbie Schwartz. In case you missed our webinar, “Cracking the Code: Your Guide to Unlocking Scholarships,” you can watch some of the recording here: https://www.youtube.com/watch?v=X53OnJ5VQp0 What are the different types of scholarships? Understanding what types of scholarships are available is critical when trying to decide which ones to apply for. Will Greiger, CEO and Co-founder of Scholarships360, breaks down the four main types of scholarships: 1. Federal & government scholarships: These include grants such as the Pell Grant and other types of aid awarded through the Free Application for Federal Student Aid (FAFSA ®). Some states also have aid programs that fall into this category as well. 2. Scholarships from colleges: Like government scholarships, a college may also use information gleaned from your FAFSA to award you need-based aid. Many college scholarships are based off academics or talents (aka merit-based scholarships). A subset of college scholarships is a departmental scholarship, which you might earn for being in a specific area of study, studying abroad, or being a part of a club. 3. Non-profit scholarships: Non-profits are well-known for their generosity in scholarship awards. Some examples of these organizations would be the Elks Club, the Girl Scouts, or a smaller, local non-profit in your community. 4. Scholarships from private organizations: Many private companies also give out scholarships! To date, Ascent has given away over $330,000 in scholarships to students and families. Enter now for a chance to win one of our no-essay student scholarships – it only takes a few minutes! You do not need to have an Ascent loan to enter. https://www.ascentfunding.com/scholarships/ Common scholarship myths To get you started on the right foot, we take a moment to break down and debunk these top misconceptions about applying for scholarships: 1. “Only top achievers & athletes get scholarships” - While being a star athlete or straight A student can be a great thing to mention when applying for scholarships, there are plenty of opportunities out there if that’s not you. Researching for more niche scholarships that align with your unique passions, or entering more content style scholarships could be the best way to go. Plus, many scholarships are focused more on the financial need of the applicant, meaning federal and government scholarships may be a great fit for you! 2. “Scholarships are too competitive, so don’t bother applying!” - Applying for financial aid may feel competitive, but researching and applying for scholarships that align with your talents to boost you toward the top of the applicants. Applying for local scholarships will also mean less competition. 3. “Start researching for scholarships your senior year of high school” - While there may be plenty of scholarship opportunities out there during your senior year, there are scholarships available to you as early as your freshman year and plenty to keep exploring throughout your college journey. 4. “You must be a great essay writer to win scholarships” - Essay scholarships can feel daunting, and you should always invest time and effort into your submissions, but showcasing your creativity and who you are as an individual in your essay can be just even more valuable. Starting your scholarship search: Before diving into your scholarship hunt, our panelists suggest a quick look inward to find what you should be looking for in a scholarship: - Consider what makes you unique and start there. This will give you insight on the types of scholarships you should look for based off your passions, talents, and life experiences. - Be specific when you consider all the qualities of yourself that you might include in your scholarship research. Even the smallest or strangest interests could generate scholarship opportunities! - The more niche, the better! Finding a scholarship opportunity revolving around a lesser-known hobby or interest can mean less competition and a better chance of winning that money for school. A few key takeaways: As you embark on your journey of paying for college, we’ll leave you with these four key takeaways to keep your scholarship search successful: 1. Scholarships offer invaluable financial support for students and families on their educational journey. 2. Start your scholarship search early to maximize your opportunities 3. Leverage your various scholarship research tools, including online platforms, educational institutions, and organizations 4. Apply for as many scholarships as you can! Congrats to our latest scholarship winner! One of our top priorities at Ascent is to contribute to the success of all students. That’s why we have given over [scholarship_awards_amount] in scholarships to date! Join us in congratulating our most recent scholarship winner below: Kamiyah B., Pace University, Unlocking Scholarships $500 Scholarship Giveaway