Private Student Loan Advice & College Financing Resources

Financial wellness often starts with clarity, and understanding how you are paying for graduate school is no exception. Paying for graduate school has always required careful planning, but starting with the 2026–27 academic year, the math changes for many students.   With the elimination of Grad PLUS loans for new borrowers after July 1, 2026, graduate and professional students may have less federal borrowing capacity than in prior years. That can create a “funding gap” between your program’s total cost and what you can cover through federal loans and personal resources.  Ascent’s Grad School Funding Calculator helps you estimate that gap in under a minute. By entering your program length, cost of attendance, expected annual cost increases, and how you plan to pay (federal loans plus cash/scholarships/family support), you can quickly see what you’ll still need to finance.  Below is a quick walkthrough of what changed, what the calculator is doing behind the scenes, and how to use your results to plan your next steps.  What changed with graduate federal loans (starting July 1, 2026)  Grad PLUS loans are eliminated for new borrowers after July 1, 2026.  Graduate students are limited to Direct Unsubsidized Loans ($20,500/year for graduate programs and $50,000/year for professional programs) and lifetime caps.   For many students, this means federal loans may no longer cover the full cost of attendance.  This calculator is most useful as a planning tool: it helps you model scenarios before you commit to a program, accept an offer, or decide how much you’ll need to cover with savings, scholarships, employer support, or private student loans.  How to Use the Grad School Funding Calculator  If you’re trying to figure out what grad school might actually cost, and what you’ll need to do to cover the difference, this calculator can help. In a few quick inputs, it estimates your total program cost, how much you may be able to cover with federal Direct Unsubsidized Loans (based on annual limits), and what funding gap could be left.  You can use it whether you’ve already been accepted or you’re still comparing options: Ascent’s Grad School Funding Calculator.  Start by Entering Your Program Details  In the first section of the calculator, you’ll enter basic details about your program. The tool uses these inputs to estimate your total multi-year cost and apply the right annual federal loan cap, so the funding gap it shows you is tailored to your situation.  Program type (graduate vs. professional): Start by choosing the type of program you’re planning for. The calculator uses this choice to apply the correct annual federal Direct Unsubsidized Loan limit, because the federal borrowing cap can differ between graduate and professional programs. That annual limit is one of the key pieces the tool uses to estimate how much of your total cost could be covered with federal loans each year.  Have you been accepted? (optional): If you already have an admission offer, choose “Yes.” If you’re still applying, choose “Not yet.” Either way, you can use the calculator—the difference is how precise your inputs can be. If you’re accepted, you can plug in the cost of attendance for that exact school. If you’re not accepted yet, running a few “what if” scenarios can help you compare programs and spot a potential funding gap before you commit.  Program length: Enter how many years you expect to be enrolled (for example, 2 years). The calculator multiplies your annual cost across the number of years (and adjusts for any annual cost increases you enter) to estimate your total program cost—and your total funding needs over time.  Annual cost of attendance (tuition + living expenses): Enter the school’s published cost of attendance for one year (or your best estimate). This is the baseline the calculator uses for your “total cost,” and it typically includes tuition/fees plus housing, food, transportation, books, supplies, and personal expenses.  Cost of attendance annual increase (optional): If you expect costs to rise each year, enter a percentage. The calculator uses this to increase the annual cost in later years (so a 2–4 year program reflects real-world price growth). If you’re not sure, leaving it at 0% gives you a simpler baseline, or your financial aid office may be able to share historical trends.  Choose How You Plan to Pay Each Year  Federal loans per year: Use the slider to select how much you plan to borrow in federal Direct Unsubsidized Loans each year, up to the annual maximum shown for your program type (for many graduate programs, the calculator shows a max of $20,500/year).  Planned cash/scholarships/family contribution per year: Enter any amount you expect to cover without loans—such as scholarships and grants, savings, employer tuition assistance, veteran benefits (if applicable), or support from family.  Calculate Your Funding Gap  After you click “Calculate My Funding Gap," the tool adds up your estimated total cost and subtracts the funding you’ve already planned to use, federal Direct Unsubsidized loans and any cash contributions.   Your results break into three clear buckets: your total cost, your planned funding, and your funding gap.  The gap is the most important number to focus on. It shows where you may need to fill in the difference using a combination of options that make sense for your situation.  For some students, that means continuing to look for scholarships or grants, using employer tuition assistance, or adjusting living expenses or program timing. For others, private student loans may be part of the plan, especially when federal borrowing is capped and remaining costs can’t be covered with savings alone.   If private loans are an option you’re considering, applying with a cosigner can help improve access and may lead to more competitive rates. While it’s a personal decision that comes with shared responsibility, it can be one way to make financing feel more manageable.  Exploring these options side by side can help you understand tradeoffs like interest rates, repayment flexibility, and total cost over time.  Ascent Is Here to Help  Paying for graduate school is a major decision, especially as federal loan rules change. Taking time to understand your total costs, identify any funding gap, and compare your options can help you make a more confident choice, before you commit.  Ascent offers resources for students and families offer guidance about paying for school, better budgeting, career-readiness, and more. Amid ongoing student loan changes, Ascent remains committed to empowering student success and financial wellness.  

As graduate funding rules change, uncertainty around how to pay for graduate education is increasing. To help students and institutions plan with greater confidence, Ascent has launched two new interactive calculators that bring earlier clarity to graduate school financing in this post-Grad PLUS environment.  Designed to surface potential funding gaps before enrollment decisions are finalized, the calculators help students better understand affordability and help schools evaluate how changes to Grad PLUS access could affect programs over time. Ascent’s Grad School Funding Calculator is designed specifically for students, while our Grad School Impact Calculator supports institution‑level planning—each focused on the decisions its audience needs to make.  By helping users identify gaps sooner, these calculators support more proactive financial planning for students, and more informed program‑level decision‑making for schools and financial aid officers.  Why Grad PLUS Planning Matters Now  For nearly two decades, Grad PLUS loans helped graduate and professional students borrow beyond traditional federal limits to cover the full cost of attendance. As access to Grad PLUS loans changes, students may find that federal aid no longer fully covers program costs, while institutions may see downstream effects on enrollment, yield, and program sustainability.  These changes make timing more important than ever. Students need earlier visibility into affordability, and institutions need better tools to model how funding constraints may affect programs over time. That’s where Ascent’s Grad PLUS calculators come in.  Introducing the Grad School Funding Calculator for Students  As graduate program costs continue to rise, many students are being asked to commit to enrollment before they fully understand how their education will be financed. The Grad School Funding Calculator is designed to close that gap by helping students assess affordability earlier in the decision‑making process.  Rather than focusing on repayment or interest rates, the calculator supports forward‑looking planning. It allows prospective and current graduate students to compare their available federal funding to the total cost of their program, so they can explore options before committing to enrollment.  How the Grad PLUS Calculator Supports Students  The Grad School Funding Calculator guides students through a short set of inputs that reflect the real components of graduate education costs and federal aid limits, including:  Program length, so estimates reflect the full duration of the degree  Annual cost of attendance, including tuition and living expenses  Expected annual cost increases, if applicable  Federal Direct Unsubsidized Loan limits, which are capped annually  Using this information, the calculator estimates the difference between total program costs and available federal funding, highlighting a potential funding gap students may need to address through other resources. These may include scholarships, savings, employer assistance, institutional aid, or private loans.  By surfacing this estimate early, the calculator helps students move from uncertainty to clarity, —providing a more informed starting point for financial planning and reducing last‑minute stress as enrollment decisions approach.  The Grad School Funding Calculator complements Ascent’s broader set of student support resources, including AscentUP, which provides financial wellness guidance, career readiness tools, and coaching to help students plan, progress, and prepare for life beyond graduation.  A Calculator for Schools: Helping Institutions Plan Ahead with Greater Clarity  For institutions, the implications of reduced Grad PLUS access extend beyond individual student access. Schools must understand how changes to graduate funding could affect enrollment, revenue, and long‑term program sustainability, —often before those impacts are visible in application or yield data.  The Grad School Impact Calculator is designed to support that planning. It helps institutions model potential funding gaps at the program level, using enrollment and aid data schools already track, so leaders can evaluate risk and plan proactively rather than react later in the cycle.  How the Grad PLUS Calculator Supports Institutions   The Grad PLUS Impact Calculator allows schools to enter key details about a specific graduate program, including:  Program type and length  Annual cost of attendance, with optional cost growth assumptions  Enrollment assumptions, such as cohort size, growth rate, and attrition  Historical aid mix, including the portion of funding previously filled by Grad PLUS  Schools can input information using either percentages or dollar amounts, with default assumptions available for institutions that don’t have exact figures on hand.  Based on these inputs, the calculator estimates the total amount of funding that would need to be replaced if Grad PLUS loans are no longer available to new borrowers. The result is a multi‑year projection that helps institutions visualize potential impact, assess exposure across cohorts, and plan enrollment and funding strategies with greater confidence.  Helping Students and Schools Plan Ahead  Together, these calculators are designed to meet users where they are, helping students understand affordability at the individual level while helping institutions assess impact at the program level.  They also complement Ascent’s broader set of student support resources, including AscentUP, which provides financial wellness guidance, career readiness tools, and coaching to help students plan, progress, and prepare for life beyond graduation as well as Ascent’s ROI calculator, which helps students understand the long-term return on investment of their education.   As graduate funding continues to evolve, earlier insight creates better options. By helping users identify potential gaps sooner, Ascent’s Grad PLUS calculators support clearer decisions —for students, for schools, and for the future of graduate education.  Learn More with Ascent  Navigating the student loan application process can be challenging, and Ascent is committed to providing students and families with the financial resources needed to pursue their dreams.      From financial wellness resources to our flexible private student loans and undergraduate student loans, we are here to help students and their families make informed decisions about their future in college, and beyond. 

Building credit might feel far off while you’re still in high school, but starting early can give both students and parents a head start on financial confidence. Your credit history affects more than just loans—it can influence renting your first apartment, buying a car, or even signing up for a cell phone plan.  This guide explains how to start building credit safely, what age is appropriate, and common mistakes to avoid, so teens can establish a strong financial foundation that lasts into college and adulthood.  Understanding Credit History  Credit history is the record of how someone manages borrowed money over time. It includes information about credit cards, loans, and other accounts, showing whether payments are made on time, how much debt is carried, and how long accounts have been open. Lenders, landlords, and even some employers use this information to assess financial reliability.  Even if your teen has never opened a credit card or taken a loan, they can start building credit in other ways. For example, being added as an authorized user on a parent’s account lets them begin establishing a positive credit profile. Without any credit history, teens may become “credit invisible,” making it harder to access loans, rent apartments, or qualify for favorable rates later.  Why Credit Matters for Students  A strong credit history can open many doors as teens transition into adulthood. It affects their ability to rent an apartment, qualify for student or car loans, secure lower interest rates, and even sign up for cell phone or utility accounts. Starting to build credit in high school gives teens the chance to practice responsible habits in a low-stakes environment. By paying balances on time, keeping credit utilization low, and monitoring spending early, they can avoid costly mistakes and set themselves up for financial confidence in college and beyond.  The Right Time for High Schoolers to Start Building Credit  There isn’t one strict age to begin, but high school is an ideal stage for high schoolers to start building credit. Teens can start as early as 13–16 years old by becoming authorized users on a parent’s credit card. This gives them credit history exposure without legal responsibility for the debt.  For older teens ready to manage their own account, student or secured credit cards are appropriate around 16–18 years old, depending on the issuer. Starting early provides a low-risk environment to learn about credit, balances, payments, and interest before college or major financial obligations.  How to Start Building Credit in High School  Starting to build credit in high school doesn’t have to be intimidating. One of the simplest ways is for a teen to become an authorized user on a parent or guardian’s credit card. This approach allows the teen to benefit from a positive payment history while the parent remains legally responsible for the account. It’s a safe way to introduce the concept of credit, letting teens see how balances, payments, and interest work in real time.  For older teens who are ready to manage their own account, student or secured credit cards can be excellent tools. Student credit cards are designed for young borrowers with little or no credit history and typically come with lower limits, making them easier to manage. Secured credit cards require a cash deposit that becomes the credit limit, offering a controlled environment for teens to learn responsible usage while minimizing risk.  No matter the method, the focus should be on building consistent, healthy habits. Paying balances on time, keeping credit utilization low, and regularly monitoring accounts are essential practices that can set a teen up for long-term financial success. By guiding teens through these steps, parents can help their children gain practical experience, develop confidence in handling money, and lay the foundation for a strong credit history that will benefit them well into adulthood.  Benefits of Building Credit Early  Starting to build credit in high school has long-term advantages. A positive credit history can help you qualify for better interest rates on student loans, personal loans, and auto loans. It can make renting your first apartment easier, since landlords often check credit before signing a lease. Even some employers check credit reports as part of the hiring process.  Beyond practical benefits, learning to manage credit early helps you develop financial discipline. You’ll understand the importance of paying bills on time, tracking expenses, and making intentional financial choices. These lessons can prevent costly mistakes and give you confidence when handling larger financial responsibilities in college and adulthood.  Common Mistakes to Avoid  While building credit early has benefits, it must be done carefully. High school students should avoid overextending themselves. Maxing out credit cards, missing payments, or applying for too many accounts at once can hurt your credit score.  It’s also important to monitor your credit reports for errors. Mistakes can happen, and catching them early prevents unnecessary damage to your score. You can request free credit reports annually from the three major bureaus, and some apps provide ongoing monitoring to help you stay on top of your credit health.  Another common mistake is treating credit like free money. Even small balances need to be paid on time. Late payments or accumulating debt can undo months of careful credit-building. Start small, pay in full each month, and increase responsibility gradually.  Final Thoughts  Building credit in high school is not about taking on debt or rushing into financial responsibilities. It is about learning, practicing, and laying the groundwork for financial independence. Students who start early have a better chance of securing loans with lower interest rates, renting apartments without stress, and avoiding costly financial mistakes.  Looking for more info? Check out our latest guide to Why Your FICO Score Matters to Lenders, here.   Learn More with Ascent   Navigating the student loan application process can be challenging, and Ascent is committed to providing students and families with the financial resources needed to pursue their dreams.      From financial wellness resources to our flexible private student loans and undergraduate student loans, we are here to help students and their families make informed decisions about their future in college, and beyond. 

If you’re applying for student loans, credit cards, or other financial tools for the first time, you’ve probably heard the term FICO® Score. But what does it actually mean, and why does it matter so much when you’re paying for school?

Applying for a private student loan can feel overwhelming, especially if it’s your first time dealing with things like credit, interest rates, and loan paperwork. You might be wondering how approval works, what lenders look for, or how you can improve your chances of getting approved.  The good news is that there are simple, practical steps you can take to make your application stronger from the start!  Whether you’re applying on your own or with a cosigner, preparing ahead of time can help you find better options and feel more confident in the process.  Here are seven essential tips to help you improve your private student loan application and set yourself up for success.  1. Check Your Credit Before You Apply  Your credit history plays an important role in many private student loan applications. Before you apply, take time to review your credit report and FICO® Score so you know where you stand.  Many banks and credit card companies offer free access to your score, and you can also request your credit report through Experian, Equifax, or TransUnion.   Reviewing your credit early helps you understand what’s affecting your score and where you can improve. If you’re just starting out, focus on making every payment on time, keeping credit card balances low, and avoiding maxing out your limit. Small habits like setting up autopay or paying more than the minimum when you can, can build strong credit over time and make the process feel more manageable.  2. Dispute Errors on Your Credit Report  Checking your credit is important, but accuracy matters just as much. Your credit report shows the full picture of your borrowing history, including every loan, credit card, and payment in your name. Lenders review this entire report, not just your score, when evaluating your application.   As you review it, look for anything that does not seem right, such as accounts you do not recognize, incorrect balances, or payments marked late when you paid on time.  If you find an error, take action. You can dispute inaccurate information directly with the credit bureau and the lender that reported it. Fixing mistakes early can help protect your credit and prevent small issues from affecting your approval.  3. Apply With a Cosigner When It Makes Sense  If you’re new to credit or have a limited credit history, applying with a cosigner can strengthen your application. A cosigner is someone—often a parent or trusted family member—who agrees to share responsibility for the loan.  Because many cosigners have longer credit histories, their involvement can help:  Increase approval chances  Improve interest rate options  Unlock higher borrowing limits  At Ascent, we saw 4x higher approvals offs when students apply for an Ascent loan with a cosigner*. For many students, having a cosigner is a practical way to access better loan terms while building their own credit at the same time.  Also, keep in mind that some lenders, like Ascent, offer a cosigner release which helps set students up for financial success and removes cosigner’s responsibility.  4. Borrow Only What You Need  Private student loans are usually limited to your school’s certified cost of attendance, which includes tuition, housing, meals, books, and basic living expenses. Before applying, take a few minutes to review these costs and think honestly about what you really need to cover.  A helpful approach is to start with your total school costs, then subtract any money you already have from savings, scholarships, grants, or family support. The remaining amount is often a better estimate of what you actually need to borrow.  Applying for scholarships  Completing the FAFSA (Free Application for Federal Student Aid) each year to access federal student loans and other university-based financial aid  Contacting your school’s financial aid office to negotiate your financial aid offer.  Taking advantage of on-campus work-study programs to make some money during school  Borrowing only what you need now can make a big difference later. Smaller loan balances often mean lower monthly payments after graduation and more flexibility as you start your career.  5. Show Strong Financial Habits  Lenders look for signs that borrowers can manage money responsibly. Simple habits can make a meaningful difference in how your application is reviewed.  Focus on:  Paying all bills on time  Keeping credit card balances low  Avoiding unnecessary debt  Maintaining existing accounts in good standing  These habits strengthen your credit profile over time and signal reliability to lenders.  6. Do Your Research on Loan Types  When you apply for a private student loan, you usually have the choice between fixed-rate and variable-rate loans. Understanding the difference can help you pick the option that fits your circumstances.  Variable-rate loans can go up or down over time with the market. This can save you money if you plan to pay off your loan quickly, but it also comes with more uncertainty.  Fixed-rate loans stay the same for the life of your loan, so your payments won’t change. They can give you peace of mind, but your rate won’t drop if market rates go down.  Doing a little research now can help you choose a loan type that works for you today and keeps your options open for the future.  7. Apply When You're Financially Ready Timing matters. Applying when your credit is in good shape, your cosigner is also prepared, your documents are organized, and your school information is confirmed can make the process smoother and less stressful.  Before you apply, make sure you have:  Your school and program details  Cost of attendance information  Any income documentation, if required  A cosigner lined up, if needed  Having everything ready can help prevent delays, reduce mistakes, and make it easier to get approved quickly. It also gives you a clear picture of how much you actually need to borrow so you can plan with confidence.  What If You’re Not Approved Right Away?  If your application isn’t approved on the first try, it doesn’t mean you’ve failed, and it doesn’t mean you’re out of options. Many students strengthen their applications by adding a cosigner, improving their credit, or adjusting their borrowing amount.  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.    * 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. 

Heading to college in 2026 is exciting, but paying for it can feel stressful, especially if this is your first time dealing with financial aid or student loans.   The good news is you don’t have to figure it all out at once. Starting early gives you a big advantage. You can find scholarships, understand federal aid, and figure out which student loan options make sense for you.  In this guide, we will walk you through tips on student loans so you know what to expect and exactly how to prepare.  Start With the FAFSA as Soon as It Opens  One of the first steps every high school senior should take, even if you plan on taking out student loans, is completing the FAFSA (Free Application for Federal Student Aid).  This form determines your eligibility for federal grants, work-study, and federal loans and many colleges and scholarships use it to award aid, too.  For the 2026–27 academic year, the FAFSA opened up on October 1, 2025, and the deadline to submit in time for most federal aid is June 30, 2027. Submitting early gives you the best chance at available grants and need-based aid, which don’t have to be repaid.   Even if you don’t think you’ll qualify for need-based aid, it’s still worth submitting. You might be surprised by what you’re eligible for, and completing it keeps your options open.  Apply for Scholarships Early and Often  Scholarships are one of the easiest ways to reduce how much you might need to borrow for college. Start looking early and check opportunities at the local, state, and national level, including awards from colleges, community groups, and employers.  Even smaller scholarships can add up fast, so don’t overlook them. And remember, Ascent also offers monthly scholarship giveaways!  For more information, check out our webinar on How to Pay for College with Scholarships, here.  Do Your Homework on Student Loan Options  We know student loans can feel overwhelming, but taking a little time now to understand your options can make a big difference later. The goal is to find a private student loan that works for your budget and your future.  Private student loans typically come in two types: fixed-rate and variable-rate:  Variable-rate loans can go up or down over time with the market. This can save you money if you plan to pay off your loan quickly, but it also comes with more uncertainty.  Fixed-rate loans stay the same for the life of your loan, so your payments won’t change. They can give you peace of mind, but your rate won’t drop if market rates go down.  Doing a little research now, comparing options, and asking questions can help you pick the loan that’s right for you. And remember, you don’t have to figure this out alone. Parents, guardians, your school’s financial aid office, and the team at Ascent can help you weigh your choices and feel confident about your decision.  Plan How Much You Really Need to Borrow  When getting ready to apply for a private student loan, plan how much you really need to borrow and only borrow what is necessary.   Private lenders limit loans to the cost of attendance, but this does not equal just tuition – this includes things like housing, textbooks, even a laptop. Your college will certify your cost of attendance when you apply and you can likely even see that when you decide to enroll at that school.  Smart budgeting can help you minimize your loan amount and avoid extra interest and repayment stress after graduation.  Consider a Cosigner for Student Loans  If you’re new to credit or have a limited credit history, applying with a cosigner can strengthen your application. A cosigner is who agrees to share responsibility for the loan, often a parent or trusted family member.   Because many cosigners have longer credit histories, their involvement can increase your chances of approval, improve your interest rate options and potentially unlock higher borrowing limits.   For many students, this is a practical way to access better student loan terms while building their own credit at the same time. Also, keep in mind that some lenders, like Ascent, offer a cosigner release which helps set students up for financial success and removes cosigner’s responsibility.  Keep Your Credit and Financial Habits Strong  If you decide to use private student loans, your credit score (or a cosigner’s score) may affect approval and interest rates. Learn how credit works, pay bills on time, and avoid opening too many new accounts too quickly. Good habits now can set you up for better borrowing terms and financial confidence later.  You’ve got this, and your financial planning now can set you up for success long after graduation!  Looking for more information? Check out our Ultimate Guide to Budgeting for College Students.  Learn More with Ascent  Navigating the student loan application process can be challenging, and Ascent is committed to providing students and families with the financial resources needed to pursue their dreams.     From financial wellness resources to our flexible private student loans and undergraduate student loans, we are here to help students and their families make informed decisions about their future in college, and beyond. 

Higher education is in the midst of a major transformation, and so is how students pay for it. Drawing on Ascent’s proprietary data and leading third-party research, The Future of Student Loans: 2025 Trend Report uncovers how today’s students are making financial decisions, what’s driving their stress, and the innovative ways they’re using scholarships, grants, and digital tools to chart smarter, more confident paths to graduation. Financial Confidence Remains Limited:   For many students, college isn’t just an academic challenge; it’s their first major financial one. Between managing tuition, rent, and daily expenses, students are being asked to make high-stakes decisions for the first time, often without the financial literacy or guidance to support them. This uncertainty affects everything from the schools they choose to the confidence with which they step into their careers. Students don’t just need funding; they need a financial playbook. Only 26.5% of students feel very confident managing their personal finances. 1 in 3 say financial concerns have a major influence on their academic or career decisions. 31% say better access to scholarship tools and guidance would help build financial confidence. Students are signaling a clear need: education about money and everyday finances is just as important as education funded by it. Paying for Tuition Is the Top Concern:  The cost of a degree continues to define and often limit students’ choices. With tuition rising faster than wages, students are getting increasingly resourceful, combining grants, scholarships, and side hustles to make it all work. But despite their creativity, the numbers make one thing clear: paying for college remains a heavy emotional and financial lift. Nearly half (49.2%) say paying tuition or fees is their biggest financial concern. 25.9% cite finding enough scholarship or aid as their next biggest challenge. 47% rely primarily on scholarships or grants to fund their education or manage debt. However, these funds are often limited, making it difficult for many students to cover their costs fully. In fact, just 0.1% of students receive full-tuition awards. In short, while the dream of higher education remains strong, the price tag attached to it continues to be students’ biggest barrier, both financially and emotionally. First-Generation Students Face Higher Financial Stress:  For first-generation students, the path to college often represents a family milestone, but also a heavier financial burden. Without the safety net of experience or inherited guidance, they’re navigating a system designed for those who already know the rules. Even with more grant support, many first-gen students still turn to loans and credit cards to bridge the gap. In Trellis’ 2023 Student Financial Wellness Survey, 38% of respondents identified as first-generation students (n=19,634). This includes 41% at two-year institutions and 35% at four-year institutions. 68% worry about paying for school, and 24% are unsure how they’ll afford their next semester. They’re more likely to receive grants (66% vs. 48%), but also more likely to take out loans (40% vs. 33%) or use credit cards for college costs (35% vs. 28%). The data highlight a persistent challenge: even with more grant support, first-generation students are still taking on more debt than their peers, reflecting the additional hurdles they face when navigating college finances without a family safety net. Student Engagement With Financial Wellness Content Is High:  Students are craving clarity, and they’re finding it in financial wellness content. As they move through the application process, many are actively seeking out education around repayment, budgeting, and long-term planning. The demand points to a new kind of student mindset: one that values proactive financial learning as much as academic success. 1 in 4 users (24%) who interact with Ascent chatbots during the application process seek out financial wellness (FinWell) content. Students are 3x more likely to explore FinWell content during the application process than from their student account homepage (24% vs. 7%). This indicates that students are curious and actively seeking to educate themselves before taking out a loan, and are more often thinking about repayment when they do. Repayment plans are the most explored topic, accounting for 35% of all engagement and climbing steadily. This surge in engagement shows that students want to borrow wisely, understand how loans work, see how repayment fits into their budgets, and grasp what borrowing means for their long-term financial well-being. Ideally, they are more likely to carry that awareness into their repayment plans. Loan Requests Are Increasing, With Popular Majors Emerging:  With college costs on the rise, student loan borrowing continues to increase. The story isn’t just about borrowing more, it’s about borrowing with purpose. Students are increasingly pursuing majors that align with stable, career-driven fields, signaling a pragmatic shift toward education as an investment in employability. The top five majors among approved borrowers are Nursing, Business, Biology, Psychology, and Mechanical Engineering. Students are making strategic choices and leaning into fields that promise stability, skill demand, and a clearer return on their educational investment. Conclusion: The Path Forward As the cost and complexity of higher education continue to rise, one thing is clear: today’s students are more resourceful, informed, and determined than ever. They’re seeking smarter, more sustainable ways to fund their education by leveraging digital tools, exploring scholarships, and redefining what financial wellness looks like. Looking ahead, the next era of student finance will be defined by personalization and empowerment. Students want guidance that’s as dynamic as their goals. This means giving them real-time insights, proactive support, and funding models that evolve with their needs. The institutions, lenders, and leaders that step up to meet them with transparency, technology, and trust will not only help them reach graduation but also set the foundation for lifelong financial wellness and success.

For nearly twenty years, the Grad PLUS loan program has been a major pillar of federal financial aid for graduate and professional students. These loans allowed students to borrow beyond traditional federal limits and cover their full cost of attendance, including tuition, housing, books, and living expenses. For many, Grad PLUS was the bridge that made graduate school financially possible.  However, starting July 2026, new Grad PLUS loans will no longer be available under the One Big Beautiful Bill (OBBB) Act.   This pivotal change raises a central question: What will the end of Grad PLUS loans mean for the future of graduate education?  While the full impact remains to be seen, one word comes to mind: opportunity. Opportunity to innovate, rethink graduate funding, and build smarter, more sustainable solutions for students and institutions alike.  What’s Changing: New Federal Limits   Under the new law, federal borrowing for graduate students will be capped:  Graduate (Academic) Programs: $20,500 annual limit, $100,000 lifetime maximum  Professional Programs (Law, Medicine, etc.): $50,000 annual limit, $200,000 lifetime maximum.  Borrower Category Pre-OBBBA Limit New OBBBA Limit Undergraduate Stafford (Dependent) $5,500 - $7,500 per year; $31,000 aggregate Unchanged Undergraduate Stafford (Independent) $9,500 - $12,500 per year; $57,500 aggregate Unchanged Parent PLUS (Parents of Undergrad) Full Cost of Attendance $20,000 per year; $65,000 aggregate per student Graduate Stafford (Masters/PhD/MBA) $20,500 per year; $138,500 aggregate $20,500 per year; $100,000 aggregate Graduate Professional Stafford (MD/JD/DDS) $20,500 per year; $138,500 aggregate $50,000 per year; $200,000 aggregate Graduate Grad PLUS Full Cost of Attendance Eliminated All Federal Loans Combined No lifetime cap $257,500 lifetime cap  Previously, Grad PLUS loans allowed students to borrow beyond federal limits, filling gaps left by Direct Unsubsidized Loans. Once the program is phased out, students will need to explore other options, such as private loans, scholarships, or institutional aid, to fund their education. Financial aid offices will be crucial partners in helping students navigate these choices and stay on track with their goals.  A Brief Look Back: Grad PLUS and Its Impact  Grad PLUS loans weren’t just widely used; they shaped graduate education. While only 16% of graduate students rely on the program, Grad PLUS accounted for 32% of all federal graduate lending, showing just how central it became in helping students pursue advanced degrees. These loans were especially common in high-cost programs, with nearly a quarter of students in programs costing $25,000 to $70,000 using Grad PLUS, and that share rising to 30% for programs above $70,000, according to a 2024 report from the Georgetown University Center on Education and the Workforce.  Beyond helping students, Grad PLUS also influenced institutions. The availability of additional federal funds allowed schools to expand programs, support student opportunities, and invest in resources. However, research suggests that tuition increases sometimes offset the benefits of increased federal lending. Today, according to recent federal data, about 1.8 million borrowers hold Graduate PLUS loans totaling approximately $119.2 billion in debt, a scale that demonstrates the program’s significance and the magnitude of this transition.  What’s Next: A New Era in Graduate Funding  With Grad PLUS loans being phased out, graduate education is entering a new era, one that calls for creativity, collaboration, and thoughtful planning.  For Students  For students, this shift requires the exploration of a broader mix of funding options. Scholarships, grants, and institutional aid will play an increasingly central role in covering costs, while private loans can provide flexible solutions to bridge any gaps. Engaging early with financial aid offices can help students build a comprehensive plan, minimize uncertainty, and feel more confident about their financial path through graduate school. Thoughtful planning now can reduce stress later and ensure students can focus on their studies and career goals without unexpected financial obstacles.  For Institutions  The end of Grad PLUS loans is prompting schools to rethink how graduate programs are funded. Hybrid approaches that combine scholarships, grants, and external funding can help students cover high-cost programs without relying on a single source of support.  Institutions are also exploring ways to make aid more flexible and targeted, from directing resources where they’re most needed to offering modular programs or tuition schedules that let students progress at their own pace.  Partnerships with private lenders can further support students, offering customized loan programs, streamlined processes, and flexible repayment options. Some lenders provide resources beyond financing, such as career readiness tools, coaching, and internship opportunities, to help students graduate on time and launch successful careers.  By combining these strategies, schools can create funding systems that are clear, manageable, and tailored to student needs, helping students navigate the post-Grad PLUS world with confidence.  For Private Lenders  As federal aid changes, private lenders can play a key role in supporting the graduate funding landscape post-Grad PLUS. Thoughtful partnerships open the door to solutions like customized loan programs, flexible repayment options, and streamlined processes that reduce administrative hurdles. Many lenders also provide additional support, offering resources including financial wellness tools, career readiness programs, and internship opportunities to help students successfully complete their programs and transition into their careers.  When considering private student loans, it’s important to choose a lender that’s transparent about rates and fees, offers flexible repayment options, and provides responsive support throughout your borrowing journey. Look for lenders who prioritize student needs, allow for cosigner release, and offer benefits like autopay discounts or hardship protections. Avoid companies that aren’t upfront about terms or make unrealistic promises, and always research reviews to ensure you’re partnering with a trustworthy lender who will support your goals from enrollment to repayment.  Check out our Guide to Choosing the Best Private Lender here, for more information.   Final Thoughts  The end of Grad PLUS is a moment for all stakeholders to think strategically, plan proactively, and embrace flexible solutions. With careful planning, collaboration, and thoughtful use of available resources, the post-Grad PLUS world can be a time of smarter, more sustainable funding that helps students pursue their education and institutions maintain vibrant, accessible programs with student success at their forefront.  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. 

With Grad PLUS loans ending for new borrowers in July 2026, the private loan market for grad students has shifted fast. Lenders are competing harder for your business, rates vary widely based on your credit, and you've got more options than ever if you know where to look.

Whether you're currently in school, preparing to start, or managing your loan repayment, Ascent provides practical tools and insights to help you make informed financial decisions with confidence. Paying for college can be confusing, especially with all the recent changes to financial aid and student loans. To help make things a little clearer, we partnered with Mission Federal and the University of San Diego to host “Understanding Student Loan Changes Amidst Uncertainty,” a webinar designed for students and families.   Ascent’s SVP and GM of AscentUP, Allie Danziger, Mission Fed's VP of Marketing and Community Relations, Neville Billimoria, and University of San Diego’s Director of Financial Aid, Kellie Nehring, shared helpful advice on FAFSA updates, scholarships, student loans, and how to plan for different college paths, whether that’s a four-year university, a community college, or something in between.  If you missed the webinar, no worries! You can watch it here but we’ve also summarized the learnings below.   Changes to Federal Loan Policy  Big shifts are on the horizon—new federal policy changes are set to reshape repayment, forgiveness, and loan eligibility in ways that every student and family should know about.  Starting July 1, 2026, federal loan regulations will undergo major updates that will directly impact how students and parents pay for college, beginning with the 2026–2027 academic year. Graduate students will no longer be able to borrow Grad PLUS Loans, a change that could make financing advanced degrees more challenging. For undergraduates, Parent PLUS Loans will still be available, but borrowing will be capped at $20,000 per year—posing funding gaps for families at higher-cost schools while having less effect at more affordable institutions. The good news? If you’re starting school this Fall and plan to use Grad PLUS or Parent PLUS Loans, your borrowing won’t be affected for the upcoming academic year. Still, these upcoming changes are prompting schools to explore creative solutions, from expanding institutional loan options to connecting families with private lenders. For students and parents alike, understanding these shifts early is key to preparing for the future of college financing.  Parent PLUS Loans have unique repayment rules that families should understand before borrowing. Eligibility requires a credit check, and repayment begins just 60 days after the second disbursement, often during the spring semester of a student’s first year. These payments cannot be deferred until six months after graduation, meaning parents may need to start making payments while their student is still in school. International students aren’t eligible for federal aid, but they may still qualify for other financial aid programs and resources.  Guidance for Navigating Student Loans  As you plan for the road ahead, it’s important to understand the key details of student loans to stay informed and make confident financial decisions.  Completing the Free Application for Federal Student Aid (FAFSA) each year is the first and most important step in determining your eligibility for federal financial aid. Depending on your situation, you may also need to fill out an institutional or state application to maximize your options. For many students, federal loans will play a key role: subsidized loans are need-based and don’t accrue interest while you’re in school, as long as your Student Aid Index is lower than your school’s cost of attendance. On the other hand, unsubsidized loans begin accruing interest right away, though repayment is deferred until six months after graduation or withdrawal. Once repayment starts, it’s critical to stay on track—missing payments, even during forbearance, can create lasting challenges. Remember, you’ll be repaying the loan servicer that manages your account, so building good habits now will set you up for success after graduation. The good news is that repayment plans can be tailored to your income, giving you some flexibility as you begin your career.  Federal student loan interest rates typically shift by about 5–10% each year and reset every July 1st for the upcoming academic year. In contrast, private lenders adjust rates which can make them more competitive depending on the market.   Ascent offers low rates and multiple benefits that help students plan, pay, and succeed in college. Our borrowers also receive access to our AscentUP program which provides tools, resources, and coaching, as well as access to paid internship opportunities, to support students on professional development, building confidence, developing new skills, and jumpstart dream careers.  More Ways to Pay  Beyond student loans, there are several ways to help make college more affordable.  Campus jobs offer flexible hours and valuable experience, often available through the financial aid office, athletics department, or housing office. If you qualify, federal work-study can provide an added chance to earn money while gaining valuable experience. The key is to explore these options early at the schools you’re considering, so you can combine resources and create a strategy that makes paying for college feel more manageable.  When it comes to paying for college, scholarships are the ultimate win— it’s free money you never have to pay back. There are scholarships out there for nearly everything—academics, athletics, leadership, volunteering, unique hobbies, and even your favorite ice cream flavor. The more you apply for, the more chances you have to stack up real savings. For students 14+, Ascent offers no-essay scholarships! Check out the latest opportunities and enter to win here!  As you navigate paying for college, remember that you don’t have to do it alone—your school’s financial aid team is there to support you. Whether it’s asking about scholarships, staying on top of deadlines, appealing for additional aid, or finding out who to contact about repayment options, reaching out early can make a huge difference. Building a relationship with the financial aid office not only helps you avoid frustration and discouragement but also ensures you have a trusted resource to turn to whenever questions come up. Don’t hesitate to ask plenty of questions, seek advice, and lean on the broader network of support around you. By gathering input from multiple sources and staying connected, you’ll be better equipped to make confident, informed decisions about your financial journey! 

College is an exciting time to explore, grow, and gain independence—including getting comfortable with money. Budgeting might sound intimidating, but it’s really just a way to make sure your money supports the life you want to live. With the right strategy and tools, any student can manage money effectively, reduce stress, and set themselves up for future financial success.  Why Budgeting is Crucial for College Students  Budgeting gives you control over your money, even when it feels like you don’t have much. It helps you cover essentials, avoid debt, and still enjoy life on and off campus. Whether you’re managing a part-time income or student loans, a budget keeps you organized, prepared for surprises, and builds good habits for life after college.  Step 1: Understand Your Finances – Creating a Realistic Budget  Before you can build a budget that works, you need to understand where your money is coming from and where it’s going. Taking the time to get clear on your income, expenses, and savings goals is the foundation of smart money management.   Track Your Income Sources:  Before you can plan how to spend or save, it’s important to know how much money you have coming in. Identifying all your income sources will give you a clear starting point for your budget.  Financial aid (grants, scholarships, loans)  Job income  Family support or allowance  Know Your Expenses: Prioritize Needs vs. Wants  Once you understand your income, the next step is to track your spending. Breaking your expenses into needs and wants can help you make smarter decisions about where your money goes.  Fixed Expenses (Needs): Tuition, rent, utilities, insurance, credit cards, bills  Variable Expenses (Wants): Food, entertainment, supplies, clothing, personal care  Savings: Fund Your Future   Saving might not feel urgent right now, but it’s one of the most powerful habits you can start. Even small contributions help you build a financial safety net and encourage long-term habits that will support your goals well beyond college.  Savings Accounts: Emergency Fund, travel expenses, pet care  High Yield Savings Account: Have higher interest rates and enable faster growth of your savings  Retirement Plans (401k, Roth IRA): Tax-advantaged savings plans to help grow savings over time for retirement expenses  Use a Budgeting Method  Choosing a budgeting method gives structure to your financial plan and helps you stay consistent with your spending, savings, and goals.  50/30/20 Rule: 50% needs, 30% wants, 20% savings/debt repayment  This rule helps individuals manage their finances by prioritizing essential expenses, discretionary spending, and long-term financial goals.  50% Needs: Essential expenses you must pay to live and work  30% Wants: Non-essential but enhance quality of life  20% Savings: Strengthening your financial future  Envelope Method: Physical or digital envelopes for each category  Determine budget categories  Set monthly budget for each  Withdraw cash and fill envelopes  Spend only from those envelopes  Step 2: Save Where You Can  Once you’ve built a basic budget, the next step is finding ways to stretch your dollars further. The good news? As a college student, there are tons of easy ways to save without sacrificing fun or convenience. From student discounts to smart spending habits, a few small changes can make a big difference. Here’s how to make the most of what you have.  Student discounts: Show student ID at restaurants, shopping stores, movie theaters, etc.  Apps to get student discounts: UNiDAYS, Student Beans  Textbooks: Rent, buy used, library copies  Food: Cook at home, use meal plans wisely, avoid daily coffee shop habits, check supermarket ads for deals  Transportation: Use public transit, bike, or carpool  Most colleges provide free transportation passes  Entertainment: Attend free campus events, share streaming accounts  Step 3: Prepare for the Unexpected  Even the best budgets can be thrown off by surprise expenses. Whether it’s a last-minute trip home, a medical bill, or an extra textbook you didn’t plan for, life happens. That’s why it’s important to build a financial cushion that helps you handle the unexpected without stress—or debt. Here’s how to stay prepared and protect your budget.  Build an Emergency Fund: Aim for a $500 goal to start  Plan for Irregular Expenses: Books, holidays, trips, birthdays, medical expenses  Step 4: Use Tools to Stay on Track  Creating a budget is a great start—but staying on track takes a little help. Thankfully, there are plenty of simple tools that can keep you organized and consistent, even on your busiest days. Whether you prefer apps, spreadsheets, or calendar reminders, the right tools can make managing your money quicker, easier, and less stressful. Let’s look at a few that can help you stay in control.  Spreadsheets: Custom Google Sheets or Excel  Download Ascent’s Student Budgeting Sheet here!  Banking Tools: Auto alerts for low balance, spending summaries  Calendar Reminders: For bill due dates and budget check-ins  Block specific date/time on your calendar to sort your finances  Common Budgeting Mistakes to Avoid  Even with the best intentions, it’s easy to slip up. Being aware of common budgeting mistakes can help you stay on track and avoid unnecessary stress. Here are a few pitfalls to watch out for:  Underestimating daily spending: Every purchase adds up!  Not reviewing your budget monthly: Adjust for changes  Overlooking one-time costs: Move-in costs, graduation fees, etc.  Relying on your credit cards: Make sure you have the funds to pay them back  Building Healthy Financial Habits  Good budgeting isn’t just about numbers—it’s about building habits that support your goals over time. With a few consistent practices, managing your money can become second nature. Here’s how to turn smart choices into lasting habits:  Track every dollar: Even small purchases add up  Set time aside time to review your account weekly  Set your goals: avoid overdrafts, reduce credit card use  Stick to your budget for 3 months? Treat yourself (responsibly)!  Final Thoughts Budgeting is an essential skill that can make your college experience less stressful and more empowering. It’s not about getting everything right the first time—it’s about starting small, staying flexible, and learning from your experiences. With a little effort and consistency, you’ll build habits that not only help you thrive in college but also set you up for long-term financial success.