Private Student Loan Advice & College Financing Resources

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

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

If you’re looking for ways to pay for college, you’ve probably seen the terms “grant” and “scholarship” used together. That’s because both can help lower your college costs without adding to your student loan balance. But, while grants and scholarships are both forms of financial aid, they’re not exactly the same.  In this blog, we’ll discuss the difference between these types of aid and how to find opportunities that may help make college more affordable.  Grant vs. Scholarship: What is the Difference?  The difference between a grant and a scholarship is how students typically qualify and where the aid comes from. Grants are often tied more directly to financial need and may come from federal, state, or school-based aid programs. Scholarships can also be need-based, but they can be awarded based on a wider range of criteria, including academics, talents, background, field of study, community involvement, financial need, or other qualifications.   In most cases, neither has to be repaid as long as you meet the program requirements.  Grant vs. Scholarship: Quick Comparison  Category Grant Scholarship Typical Basis Often financial need Financial need, merit, talent, background, interests, major, community service, or other criteria Common Funding Sources Federal government, state government, colleges, and some organizations Colleges, nonprofits, private companies, community groups, employers, and organizations Application Process Often starts with the FAFSA, though some grants may require additional steps Often requires a separate application, essay, recommendation, portfolio, or transcript Do You Repay It? Usually no, unless eligibility requirements are not met Usually no, unless program rules are not met Best For Students who demonstrate financial need Students who meet need-based, merit-based, or other specific eligibility requirements  What is a Grant?  A grant is a type of financial aid that is typically awarded based on financial need. Many grants come from the federal government, state governments, or colleges and universities. For example, federal grants may be offered to eligible undergraduate students who demonstrate financial need after completing the FAFSA.  Common examples of federal grants include the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, and TEACH Grant. Grants generally do not need to be repaid, but there are exceptions. For example, a student may have to repay part of a grant if they withdraw from school early, change enrollment status, or do not meet specific service obligations tied to the grant.  What is a Scholarship?  A scholarship is another form of financial aid that usually does not have to be repaid. Scholarships may be awarded for many reasons, including financial need, academic achievement, athletic ability, artistic talent, leadership, community service, career goals, field of study, personal background, or a combination of factors.  Scholarships can come from colleges, private companies, nonprofits, local community organizations, professional associations, and other groups. Some scholarships are quick to apply for, while others may ask for essays, transcripts, letters of recommendation, interviews, or proof that you meet certain eligibility requirements.  How Are Grants and Scholarships Similar?  Grants and scholarships are both often called “gift aid” because they can help pay for college without requiring repayment in most cases. That makes them different from student loans, which must be paid back with interest.  Because grants and scholarships may come from different sources and have different requirements, it’s a good idea to apply for both. Even smaller awards can add up and help reduce the amount you may need to borrow for tuition, fees, housing, books, supplies, and other education-related expenses.  How to Apply for Grants and Scholarships  Complete the FAFSA. The FAFSA is the starting point for many federal, state, and school-based financial aid opportunities, including grants.  Review your financial aid offer. After you’re accepted to a school, your financial aid offer may include grants, scholarships, work-study, and loan options.  Search for scholarships early and often. Look for opportunities through your school, local organizations, employers, professional groups, and trusted scholarship search tools.  Track deadlines. Grant and scholarship deadlines can vary, and some funds may be limited.  Read the renewal requirements. Some awards require students to maintain a certain GPA, enrollment status, major, or service commitment.  Is a Grant or Scholarship Better?  One isn’t automatically better than the other. The best option is the one you qualify for and can use toward your education costs. Since grants and scholarships usually do not need to be repaid, students should look for as many opportunities as possible before considering loans.  Frequently Asked Questions  Do grants and scholarships have to be paid back?  In most cases, grants and scholarships do not have to be paid back. However, students should always review the requirements. Some grants or scholarships may need to be repaid or may be lost if a student withdraws, changes enrollment status, does not meet renewal requirements, or fails to complete a required service commitment.  Do you need the FAFSA for scholarships?  Not always. Many private scholarships use their own applications and may not require the FAFSA. However, some school-based or need-based scholarships may use FAFSA information to determine eligibility, so completing it can help you access more financial aid opportunities.  Can you get both a grant and a scholarship?  Yes. Many students receive a mix of grants, scholarships, work-study, family contributions, and loans to pay for college. Just keep in mind that outside scholarships may affect your overall financial aid offer, depending on your school’s policies.  Should I apply for grants or scholarships first?  Start by completing the FAFSA so you can be considered for federal, state, and school-based aid. Then keep applying for scholarships throughout the year. The more aid you can secure, the less you may need to borrow.  Final Notes  Grants and scholarships can both help make college more affordable, but they usually differ in how they’re awarded and where they come from. Grants are often tied more directly to financial need, while scholarships may be based on financial need, merit, talents, background, interests, or other eligibility criteria. Applying for both can help you maximize free aid before turning to student loans. 

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

Starting an MBA program is exciting. It’s a big step, and it usually comes with big goals. It also comes with a few real‑world questions about money and how you’ll pay for the graduate program.  Most people don’t pay for an MBA with just one source of funding. Beyond tuition, housing, fees, books, and everyday expenses all add up quickly and it’s important to budget for this investment.   That’s why many people start with federal student loans and scholarships, then turn to private student loans for graduate school to cover what’s left. When used thoughtfully, private loans can be a helpful part of the plan.  How Much Does an MBA Cost?  MBA programs can look very different depending on the school, location, and format.  On average, a two‑year MBA program costs around $60,000, but some programs cost much more. At top schools, the total cost can rise well over $200,000 once tuition, fees, and living expenses are included.   According to GMAC’s research, tuition at leading U.S. business schools, especially the M7 schools,  an elite, self-selected group of seven top-tier US business schools, remains among the highest in the world. MIT Sloan’s MBA costs $173,060, Kellogg’s costs $172,740, Stanford GSB’s costs $171,510, and Harvard Business School’s costs $157,400, making Harvard the lowest-cost M7 program by tuition.  Along with tuition, costs often include:  Housing and utilities  Health insurance  Books and technology  Start With Federal Student Loans and Scholarships  Before looking at private loans, it’s always smart to start with federal and school based aid.  Filling out the Free Application for Federal Student Aid (FAFSA) is the first step. This form helps determine eligibility for federal student loans and may also unlock school- based scholarships.  You can also check out Ascent’s Grad School Goals Scholarship Giveaway as another way to help with MBA costs. Even better, there’s no essay required!  Why Federal Loans May Not Cover Everything  Federal student loans can help cover a large portion of your MBA, but they don’t always cover the full cost, especially once you factor in living expenses.  That’s becoming even more important as Grad PLUS borrowing changes take effect for new borrowers starting July 1, 2026. For some students, that may mean less federal funding is available than in the past.  After federal loans, scholarships, and savings are applied, it’s common to still have a gap. That’s when many students start exploring private student loans for business school to help cover remaining, school-certified costs.  If you want a clearer picture of what that gap might look like, Ascent’s Grad School Funding Calculator can help you estimate your total costs, expected federal aid, and what you may still need to cover.  When a Private Student Loan Makes Sense for an MBA  A private student loan may make sense if:  You’ve already used available federal student loans  Scholarships and savings don’t cover the full cost  The remaining expenses are tied to your program  You want repayment options that fit your timeline after graduation  In these situations, private loans can offer flexibility and help keep your focus where it belongs.  When a Private MBA Loan May Not Be the Right Fit  Private student loans aren’t the answer for every situation.  They may not make sense if:  Federal loan options are still available  You’re unsure how repayment would fit into your future budget  You’re borrowing without a clear plan for how the money will be used  The right loan should feel supportive, not stressful.  What to Look For in a Private MBA Student Loan  When comparing private student loans, interest rate matters, but it’s not the only thing to consider.  Flexible Repayment Options  Some loans let you wait until after graduation to start payments or offer options while you’re in school. Ascent explains these clearly on its repayment options page.  Clear, Simple Terms  Loan details should be easy to understand upfront. Reviewing how Ascent private student loans work can help set expectations early.  Cosigner Flexibility  Applying with a cosigner can help you get approved and could help you qualify for a lower interest rate, depending on your credit profile.  If you do apply with one, it’s worth choosing a lender that gives you the option to release  them later. Ascent offers cosigner release options after consistent, on-time payments.  Applying with a cosigner can also significantly improve your chances of getting approved. In fact, Ascent saw 5.8x higher approval rates in 2025 for applications with a cosigner compared to those without.*  Borrowing That Matches Real Costs  Responsible lenders base loan amounts on a school’s certified cost of attendance to help prevent overborrowing.  Comparing your options? Here’s a quick side-by-side look at how Ascent compares to other lenders:  Comparison based on information obtained on lender websites as of May 2026  Final Thoughts  Paying for an MBA usually means pulling together a few different pieces to cover the full cost, and that’s okay.. Federal loans and scholarships often come first, and private student loans can play a helpful role when those options don’t cover the full cost.  Ascent offers private student loans for graduate school designed to work alongside federal aid.  With Ascent, borrowers can:  Cover school‑approved education costs  Apply with or without a cosigner, depending on eligibility  Choose from multiple repayment plans  No  application and origination fees  With the right plan and the right support, financing your MBA can feel manageable and empowering, not overwhelming.  FAQ: Private Student Loans for MBA Programs  Can a Private Student Loan Cover My MBA Living Expenses?  In many cases, yes, as long as those expenses are included in your school’s cost of attendance and your school certifies the loan amount.  Should I Take Out Federal Loans or Private Loans First for My MBA?  Many MBA students explore federal loans first, then consider private loans for any remaining gap. The best choice depends on your eligibility, total cost, and repayment goals.  How Much Can I Borrow for My MBA With a Private Student Loan?  It is typically limited to your school-certified cost of attendance minus other financial aid you receive, and it also depends on lender requirements.  * 5.8x higher acceptance rates were observed in 2025 across all college products when a loan application is cosigned vs without a cosigner. 

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 

 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. 

Paying for college often becomes a shared responsibility between students and parents. When federal aid and scholarships aren’t enough, families typically face two common options: taking out a parent loan or cosigning a private student loan.   While both can help bridge the funding gap for your student, they work very differently and choosing the right path depends on your goals and circumstances.   Here’s a clear, side-by-side look to help you decide which option may be better for your family.  What Is a Parent Loan?  A parent loan (most commonly a federal Parent PLUS loan or a private parent loan) is taken out entirely in the parent’s name. This means the parent is the primary borrower and is fully responsible for repayment from day one.  Parent loans can typically cover up to the full cost of attendance (minus other financial aid), making them a flexible option for families facing large funding gaps.   Key characteristics of a parent loan:  The parent owns the debt   Repayment responsibility stays with the parent unless refinanced   Federal options may include protections like income-driven repayment or forgiveness programs   This option gives parents full control, but also full responsibility.  What is a Cosigned Student Loan?  Cosigning a private student loan means the student is the primary borrower, but the parent agrees to share legal responsibility for the loan.  This is extremely common. Most undergraduate private student loans require a cosigner because students typically don’t have enough credit history or income to qualify on their own. In fact, Ascent borrowers with a cosigner see rates that are 4.92% lower on average* and are 4x more likely to be approved.*  Key characteristics of a cosigned student loan:   The student owns the loan, but the parent is equally responsible   Both borrower and cosigner are accountable for repayment   The loan appears on both credit reports   Cosigning can help students qualify and potentially secure better rates, but it comes with shared risk.  When you consider this option, it’s important to note that some lenders may offer a cosigner release feature. A cosigner release removes the cosigner from the loan after the student meets the lender’s requirements, so the student becomes solely responsible for repayment after becoming eligible according to the lender’s requirements.   The Biggest Difference: Who Is Responsible?  At the core, the decision comes down to ownership and control.  With a parent loan, the parent is 100% responsible for repayment.   With a cosigned loan, responsibility is shared, but if the student can’t pay, the parent must step in.   In both cases, parents (or the cosigners) are financially on the hook. The difference is whether that responsibility is primary (parent loan) or conditional (cosigning).  Is the Cosigned Student Loan or Parent Loan Better for Me?  There isn’t a one-size-fits-all answer when it comes to choosing between a parent loan and a cosigned private student loan. The right option depends on your family’s goals, resources, and comfort levels with shared responsibility.  Here are some questions to ask as you consider your decision:  Who will realistically handle monthly payments, both during school and after graduation?   How important is it to keep control of the loan in one person’s hands?   Are you comfortable sharing financial responsibility, or do you prefer a single primary borrower?   Would having the option to release a cosigner in the future make a difference for your long-term plan?   Talking through these questions can help your family choose a path that works best, keeps everyone clear on expectations, and sets up both the student and parent for financial confidence in the years ahead.  Final Thoughts  The right choice comes down to your family’s financial priorities, communication, and long-term plan. When you take the time to align on expectations and understand the tradeoffs, you can move forward with confidence and build a plan that supports both education goals and financial well-being.  * 4x higher acceptance rates were observed between November 2024 through January 2025 across all 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. 

The U.S. Chamber of Commerce Foundation named Ascent a finalist in the 2025 Citizens Awards, a long-standing program that honors businesses for their leadership in solving the world’s biggest challenges.   Ascent was nominated for the Best Education and Workforce Program for its Zero Percent Loan initiative with The Forward Fund, designed to remove financial and educational barriers for adult learners to gain in-demand skills, advance their careers, and achieve lasting economic mobility in North Carolina.  “We are thrilled to be recognized as a finalist for this award,” said Ken Ruggiero, president & CEO of Ascent. “This honor celebrates the power of collaboration and innovation to expand access to education and career opportunities—creating real impact for learners and the communities they serve.”  This prestigious program recognizes the most innovative and impactful initiatives that leverage a company’s talent, resources, and expertise to improve communities.  Ascent collaborates with philanthropic investors, private funders, and public sector partners to deliver innovative, outcomes-based financing solutions that expand access to upskilling and higher education for adult learners. These partnerships fuel Ascent’s mission to unlock durable economic mobility by removing financial barriers and enabling learners to pursue high-impact training and career pathways.   “Across the country, millions of adults are eager to build new skills and advance their careers, but many are shut out by cost,” said Tristan Fleming, Chief Impact Officer at Ascent. “Our Zero Percent Loan program  helps remove that barrier, giving learners—especially those from low-income backgrounds—the skills and confidence they need to achieve lasting success and economic mobility.”  With minimal underwriting and a 90%+ approval rate, the Zero Percent Loan program allows students to pursue training with no interest or fees. It also offers protections such as payment deferral if a minimum income threshold isn’t met, plus living stipends to support program completion. The results speak for themselves: 98% of participants didn’t have a cosigner, 93% came from low-income backgrounds, and 76% had no college degree. After completing their programs, graduates report an average income increase of an impressive $24,000.  The winners of the 2025 Citizens Awards will be announced during the U.S. Chamber Foundation’s Business Solves Conference on October 28, 2025. Learn more about the awards program and register to attend the event here.    About Ascent   Ascent is a mission-driven fintech company committed to redefining student lending through a focus on access, affordability, and lasting economic impact. Backed by institutional capital, we offer innovative loan options for college and career training programs—helping more students qualify, with or without a cosigner.   But funding is just the start. From career readiness tools to financial wellness resources to over $330,000 in no-essay scholarships, everything we build is designed to turn education into real opportunity.   Learn more about how we’re working to increase student income by $10 billion by 2028 in our Impact Report.  About the U.S. Chamber of Commerce Foundation    The U.S. Chamber of Commerce Foundation harnesses the power of business to create solutions for the good of America and the world. We anticipate, develop, and deploy solutions to challenges facing communities—today and tomorrow.