Private Student Loan Advice & College Financing Resources

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.

With Grad PLUS loans being phased out, graduate students and schools are facing new choices and considerations. While this transition brings some uncertainty, it also opens the door for schools to find new ways to guide and support students as they plan for their educational future.

Graduate funding is changing fast, and schools have an opportunity to rethink how they support students. With the end of Grad PLUS loans under the One Big Beautiful Bill (OBBB) Act, institutions will need to explore new ways to help students cover the cost of high-cost programs like law, medicine, and business. These shifts open space for innovation, helping schools expand access and showcase the value of their programs.

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.  

The elimination of Grad PLUS loans will fundamentally reshape how graduate students finance their education, challenging both access and affordability. Financial aid offices must proactively adapt policies, train staff, and guide, students to navigate a more complex funding system. 

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! 

Why now, what it means, and how it aligns with our mission.  At a time when education costs are rising and student debt continues to dominate national conversations, Ascent has lowered interest rates for undergraduate student loans for a limited time. Fixed rates now start as low as 2.89% Annual Percentage Rate (APR)*, down from 3.09% APR, for eligible borrowers.  This isn’t just a pricing update. It’s a strategic move rooted in our mission: to reduce financial barriers to education, support stronger borrower outcomes, and deliver long-term value to students and their families.  Inside Ascent’s Latest Rate Drop  As of August 5, 2025, Ascent offers low fixed rates available for private undergraduate student loans, starting at just 2.89% APR*. This limited-time offer is designed to help ease the financial burden on students and families amid rising education costs.  To put this rate reduction into perspective, a $10,000 loan at 2.89% APR on a 5-year repayment plan—meaning fixed monthly payments of $179.20 over 60 months—would cost roughly $10,752.23 in total*. Compared to loans with higher interest rates, that could mean hundreds or even thousands of dollars saved over the life of the loan.  Even beyond the numbers, it’s the experience of our borrowers that truly illustrates the difference. Norelle, who recently chose Ascent, shared how our competitive rates and straightforward process made a difference for her:  “Loan options and interest rates are competitive, and the process was transparent and easy.”  For another borrower, Samantha, the value went deeper than just rates:  “It feels like you actually care about me and my goals beyond just a number on a page.”  These voices remind us that lowering rates isn’t just a financial decision — it’s about removing barriers and empowering real students to move confidently toward their futures.  Why is Ascent Dropping Rates Now?   Today’s students are navigating rising tuition, shifts in federal aid, and increasing financial stress. We lowered our rates now to reduce the cost of borrowing at a time when it matters most.  Here’s what drove the decision:  We Listen to Students: Recent surveys found that over 70% of college students feel stressed about their personal finances, and nearly 60% worry they may not have enough money to pay for school. We want to be part of the solution, not the stress.  We Took a Different Path: While many lenders are raising or holding interest rates due to economic uncertainty, we are determined to take a different approach take a different approach—one grounded in accessibility and long-term impact.  We Stay Grounded in Our Mission: Our role goes beyond traditional lending. We’re focused on helping students plan, pay, and succeed academically, financially, and professionally. That means building tools, rates, and resources that work in the real world and reflect what students actually need.  “By lowering our rates, we’re helping reduce the financial barriers that stand between students and the opportunities they deserve—not just access to education, but a real chance at durable economic mobility,” said Ken Ruggiero, CEO of Ascent.   Mission Meets Market  Lowering rates isn’t just a pricing decision, it’s a mission decision.  At Ascent, we’re building a different kind of student lending model—one focused on outcomes, not just loan origination volume. That means helping students graduate with less debt, build credit, and boost their long-term earning potential.  We’re not just funding tuition. Through student-friendly features such as an autopay discount,  as well as financial education, and tools like AscentUP**, we’re investing in futures.  “We built Ascent to make a real difference in students’ lives,” added Ruggiero. “Helping learners become earners is our commitment. And for many, that starts with an affordable rate.”  Does Ascent Anticipate Another Rate Drop? Why or Why Not?   While we can’t predict exact changes in the market, Ascent commits to remaining agile and student-focused in our approach. Future changes will be guided by the same principles that drove this one: respond to what students need, stay disciplined in our pricing, and continue evolving our products to meet the moment.  Looking Ahead  Lowering our rates is one way Ascent is expanding access to education and helping students succeed in school and beyond. Backed by best-in-class teams and technology, we’re constantly improving our financial products and support services to empower students to plan, pay, and thrive.  This update to rates, along with flexible repayment options, financial wellness tools, and career resources through AscentUP, reflects our commitment to delivering more than just funding. We’re focused on outcomes—academic, personal, and economic—that last well beyond graduation.  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.  * =Annual Percentage Rates (APRs) displayed above are effective as of 08/06/2025 and reflect an Automatic Payment Discount of 0.25% on credit-based college student loans submitted prior to 06/01/2025, a 0.5% discount on credit-based college student loans submitted on or after 06/01/2025, and a 1.00% discount on outcomes-based college student loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.  ** 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. 

The recent passage of the "Big Beautiful Bill" (OBBBA) is transforming how graduate students fund their education. With Grad PLUS loans being eliminated and federal repayment plans overhauled, both students and schools face critical challenges. These comprehensive reforms have created uncertainty among graduate students and financial aid officers alike, who are left to navigate potential funding gaps and the impact these policy changes may have on enrollment. Because of the significant repercussions the Big Beautiful Bill will have on student loans—and the students and schools that rely on them to finance higher education—staying informed is critical.  Graduate students and financial aid officers should understand how the Big Beautiful Bill’s impact on student loans may alter borrowing limits and repayment strategies and what alternative options are available for financing higher education. Key Takeaways The Big Beautiful Bill eliminates Grad PLUS loans for new borrowers after July 1, 2026, requiring graduate students to seek alternative funding options. Federal borrowing caps for graduate and Parent PLUS loans have significantly decreased, potentially causing funding shortfalls. Economic hardship and unemployment deferments are going away, limiting borrowers’ repayment flexibility. Pell Grant eligibility expansion indirectly impacts graduate funding dynamics at many institutions. Increased 529 plan withdrawal limits offer additional flexibility for funding education costs. Ascent offers private graduate student loans to help graduate students shore up funding gaps and help schools secure financial support for their students in the wake of these unprecedented changes.  Key Changes in the “Big Beautiful Bill” Affecting Student Loans The Big Beautiful Bill’s extensive range of reforms is slated to completely shift federal student loan policies and impact a wide range of people, including: New and current borrowers Parents relying on federal loans Schools navigating financial aid programs These latest changes to student loans are part of the Trump administration’s broader education reforms, which student borrowers, parents, and financial aid officers should monitor closely.  The End of Grad PLUS Loans One of the most impactful Big Beautiful Bill student loan changes is the termination of the federal Grad PLUS loan program.  Grad PLUS loans, which will no longer be available to new borrowers starting July 1, 2026, allowed graduate students to borrow up to the total cost of attendance, minus any other financial aid received. Critics typically argued that these loans contributed significantly to rising student debt by encouraging excessive borrowing. In addition, they were accused of placing financial strain on students post-graduation. To address these concerns, the bill replaces Grad PLUS loans with increased borrowing limits for Direct Unsubsidized Loans, albeit with lower overall limits. While the shift aims to control debt accumulation, it leaves many graduate students searching for alternative funding sources. New Borrowing Caps Under the Big Beautiful Bill college loan adjustments, borrowing limits for graduate students and Parent PLUS loans have decreased significantly. Graduate students now face stricter annual and aggregate caps, limiting their access to federal funds. Similarly, Parent PLUS loans, which helped parents bridge funding gaps for their dependent students, also face new limitations. The caps on the various loans are as follows: $20,500 per year with a lifetime grad school cap of $100,000 for graduate students $50,000 per year with a lifetime cap of $200,000 for professional graduate students (e.g., medical or law school) $20,000 a year and $65,000 per child for parent PLUS borrowers Changes to Pell Grant Eligibility In contrast to cuts to other funding sources, the Big Beautiful Bill has expanded Pell Grant eligibility, increasing the number of undergraduate students eligible for this form of aid. The expansion of Pell Grants could indirectly affect graduate funding as institutions redistribute financial aid budgets or priorities. Schools may, for example, shift resources toward undergraduate students who now qualify for the expanded grants. In practice, students who receive full scholarships from colleges or universities will no longer be eligible for additional funding via Pell Grants. Contrast that with students in workforce training programs, whose eligibility has increased. Where these grants could previously only pay for courses of less than 600 hours or 15 weeks, that eligibility has expanded. Student Loan Repayment Plan Changes Among the most notable student loan repayment plan changes under the bill is the removal of specific repayment plans, including the popular SAVE plan. Other casualties include Pay As You Earn (PAYE), Income-Based Repayment (IBR), and Income-Contingent Repayment (ICR) plans: SAVE (Saving on a Valuable Education): Caps payments at 5–10% of discretionary income and forgives remaining balance after 10–25 years. It replaced REPAYE and offers the lowest monthly payments for most borrowers.  IBR (Income-Based Repayment): Payments are 10–15% of discretionary income, with forgiveness after 20–25 years. Borrowers must demonstrate partial financial hardship.  PAYE (Pay As You Earn): Requires a partial financial hardship; caps payments at 10% of discretionary income, with forgiveness after 20 years. Only available to newer borrowers.  ICR (Income-Contingent Repayment): Payments are the lesser of 20% of discretionary income or a fixed 12-year repayment, adjusted for income. Forgiveness occurs after 25 years. Available to all Direct Loan borrowers.  While eliminating these plans may simplify available federal repayment options, it reduces flexibility for borrowers. Graduate students, for example, should prepare for stricter repayment terms and limited choices moving forward. Don’t panic, though. The phase-outs for these plans are somewhat slower, and current borrowers have until July 1, 2028, to switch to a new plan. Those 7.7 million Americans enrolled in the Biden-era SAVE plan will see interest on those loans resume on August 1, 2025. Removal of Economic Hardship Deferment Another critical aspect of the Big Beautiful Bill’s student loan changes is its elimination of deferment options for unemployment and economic hardship. Previously, borrowers experiencing financial difficulty could temporarily pause their federal loan payments. With these protections removed, borrowers must carefully plan to avoid financial distress during repayment periods. Increased Withdrawal Limits on 529 Plans Finally, the bill introduces higher withdrawal limits for 529 college savings plans. Families and students can now withdraw larger amounts each year without penalties, making 529 plans more flexible for offsetting education costs in the face of reduced federal aid.  The law doubles the annual tax‑free withdrawal limit from $10,000 to $20,000 per beneficiary for K–12 qualified expenses, starting in tax year 2026. What These Changes Mean for Graduate Borrowers The student loan changes introduced by the Big Beautiful Bill present significant challenges to graduate students, specifically due to the loss of Grad PLUS loans. Students who use them took out nearly $32,000 last year, according to an analysis from Bloomberg. And because many of those students come from low-income backgrounds and minority communities, it would hit students with limited options the most. These were key funding sources that covered comprehensive education costs. With reduced federal borrowing options, grad students must prioritize financial literacy and budgeting skills to manage their education expenses, especially with changes to student loan repayment plans. Students must now emphasize evaluating their chosen degree programs' return on investment (ROI). Paying close attention to school selection, tuition costs, and future earning potential will help them ensure manageable debt levels. Tools like Ascent’s College Degree ROI Calculator can help students assess the potential return on college investment based on school and major. As federal funding tightens, grad students with strong credit histories will likely explore competitive private lending options to bridge funding gaps. Graduate school programs for a master’s degree can cost anywhere between $44,640 and $71,140, depending on the program and whether the school is public or private. These costs are even higher for medical and law school. And that’s just tuition; books, fees, and other cost of living expenses elevate the numbers even higher. Graduate school scholarships and grants can help pay for school, but most won’t cover the full costs. That’s a significant disparity that leads to graduate students taking out hundreds of thousands of dollars in loans over their graduate career. In this more restrictive funding environment, proactive financial planning and informed decision-making are critical. Students and families should leverage available resources and guidance to better navigate these challenging times. What This Means for Schools and Financial Aid Offices These developments also have big impacts on financial aid offices for universities with graduate programs. Because federal funding sources like Grad PLUS loans are being eliminated and borrowing limits decreased, graduate schools are expected to face increased pressure to help their students bridge substantial funding gaps. To effectively manage these changes, financial aid offices will need to cultivate strong relationships with credible private lenders to ensure students maintain reliable access to essential funds.  Ascent provides valuable resources for schools, offering flexible graduate loan solutions, career readiness training, and enhanced financial education. When schools partner with reputable private lenders like Ascent, they can mitigate these funding shortfalls to ensure their students remain financially supported through graduation. Ascent is Here to Support Graduate Students Amid Federal Changes With such significant shifts in federal student loan policies, graduate programs and their students are facing increasing uncertainty about how they'll bridge new funding gaps. At Ascent, we’ve spent years working closely with schools and students to navigate complex financial landscapes. Our expertise allows us to offer flexible, customized private lending solutions specifically tailored to graduate education. By partnering with Ascent, schools can confidently: Boost enrollment numbers by providing accessible graduate student loans that attract qualified students who might otherwise choose not to attend due to affordability concerns. Support underserved student populations who risk being unfunded in the wake of federal loan eliminations and lowered borrowing limits. Maintain financial stability and avoid disruptions caused by recent federal loan changes—allowing institutions to better plan, budget, and support their graduate cohorts without interruption. Ascent’s commitment to enabling student success extends beyond funding alone. Students gain access to robust financial literacy resources, personalized career support through AscentUP, scholarship opportunities, and tools designed to strengthen students’ financial wellness throughout their graduate experience, and beyond. Together, graduate schools and students can rely on Ascent to navigate these unprecedented times with stability, confidence, and clarity. Contact us to learn more about our private graduate student loans and support offerings for grad students and schools.  FAQs How does the Big Beautiful Bill impact graduate student loans? The Big Beautiful Bill eliminates Grad PLUS loans, reduces federal borrowing caps, ends key deferment options, and revises repayment plans. These changes significantly impact graduate students’ funding strategies and could create hardship for those with significant financial needs. What are my options since Grad PLUS loans have been eliminated? Graduate students can now use increased Direct Unsubsidized Loans (with lower limits) or seek scholarships to help pay for school. You may want to consider private lenders like Ascent, which offer competitive graduate loan options. What to do if my student loan deferment has been removed? If your deferment options have been removed, you can explore income-driven repayment plans, refinancing, or alternative private loans to help manage your payments more effectively. How has the Big Beautiful Bill changed borrowing limits for student loans? Federal borrowing limits for graduate and Parent PLUS loans have significantly decreased. This has created funding gaps that students must fill through alternative financial strategies or private lending options. How can Ascent assist graduate students with receiving funding? Ascent offers graduate students flexible private loan options with competitive interest rates, but that’s not all. We also provide financial literacy resources and career support through the AscentUP program to ensure students remain financially supported.

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. 

It’s finally summer! Whether you're kicking off your mornings with a run, gaming with friends, or soaking up the sun poolside, this is your time to unwind. While the season is all about fun and freedom, it’s also a great opportunity to be mindful of your money. The choices you make now—both in spending and saving—can set you up for a smoother, more stress-free school year.   Save this Summer  Open a Savings Account  Even small deposits from a paycheck or birthday card can add up fast. Credit unions often offer student-friendly savings accounts that help you set goals, earn interest, and build smart financial habits. You can even automate your deposits—just set it and forget it!   SAFE Credit Union has some great savings account options—from traditional savings to high-dividend savings accounts—so you can start your savings journey now.  Apply for Scholarships  Applying for scholarships is a wonderful way to save money this summer! Ascent Funding offers a $1,000 scholarship giveaway every month; no essay required!   Budget Around Plans but Leave Room for Spontaneity  Create a simple monthly budget based on your known expenses—like back-to-school shopping, beach days, or a friend’s birthday. Then, add a “spontaneous spending” cap. Whether it’s $30 or $100, this lets you enjoy last-minute BBQs or froyo runs without wondering where your money went. Use SAFE Credit Union’s financial guides or your favorite app to stay on track.  Apply the 24-Hour Rule  Thinking about that $65 pair of sunglasses or a $90 concert outfit? Wait 24 hours. Still want it tomorrow? Go for it. For bigger purchases, wait 48–72 hours. It gives you time to check your budget and see if it’s really worth it.  Use Student Discounts  Student status = Savings.  Apps like UNiDAYS and Student Beans offer deals on clothes, tech, food, and gym memberships.  Always ask: “Do you offer student discounts?” You’d be surprised how often the answer is yes!  Try a No-Spend Challenge  Pick a weekend—or even just a day— where you only spend on necessities.  It’s a fun, low-pressure way to reset your habits, be more intentional, and boost savings.  Go on a Staycation  You don’t need a passport to have fun.  Explore your city like a tourist—check out local concerts, free museum days, night markets, or hiking trails.  You’ll save hundreds on travel while still making memories.  Smart Summer Splurges  Invest in Timeless Summer Staples  Choose breathable, durable fabrics like cotton and linen.  Stick to neutral colors and classic styles that won’t go out of fashion.  Think cost-per-wear for long-term savings.  Prioritize Health: Buy the Sunscreen  Sunscreen isn’t optional—it’s both self-care and long-term financial protection.  A $10 bottle now is less than future medical costs.  Pro tip: Buy in bulk or check for student discounts at local stores.  Final Thoughts  There are infinite ways to spend and save responsibly. It’s an easy way to stay in control of your money this summer, and come fall, you’ll be glad you did!  About the Author Kristina Nguyen is a community college student studying Business Administration with an emphasis in Marketing. As President of the Business Club and Transfer Club at her school, she helps students navigate the transfer process, connect with industry professionals, and access scholarship resources. After graduating from high school at 16, Kristina entered community college unsure of what to expect and unaware of the many opportunities available. Now, as she prepares for her own transfer to a four-year university, she’s passionate about helping other students feel confident in their journey and realizes there’s no shame in taking an alternative route to their goals.