News Archives - Ascent Funding

How to Improve Your Private Student Loan Application: 7 Essential Tips
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.

February 26, 2026 | By: Ascent
Ascent Funding Closes $45MM Series C Financing to Support the Future of Student Lending
SAN DIEGO, Feb. 19, 2026 Ascent, a leading provider of innovative financial products and student support services, today announced the successful close of its Series C funding round. Federal policy shifts that cap the amount of federal loans available for education are driving more students toward private lenders to help cover their tuition bills. The private student loan need is projected to double to $26B over the next three years, and Ascent is positioned to support these students looking to pursue their educational goals. The round was led by a global asset manager and provides the capital Ascent needs to grow its leadership team, scale its unique education financing platform and expand into critical new education verticals. Ascent has built significant momentum to meet this demand, establishing partnerships with more than 2,300 institutions and training providers, resulting in a 30% increase in loan originations year over year. Over the last decade, Ascent has disbursed over $1.5 billion in education loans to more than 168,000 families through its diverse suite of traditional college loans, including cosigned and non-cosigned options, and its industry-leading outcomes-based financing. "At Ascent, we've always believed that a student's potential shouldn't be limited by their current financial circumstances, but rather fueled by their future success," said Ken Ruggiero, Co-Founder and CEO of Ascent Funding. "As federal policies shift and traditional funding gaps widen, our mission to offer financing for traditionally overlooked and underserved individuals and families so they can gain access to post-secondary education and build a foundation for durable economic mobility has never been more important. This new capital will allow us to double down on our goals, providing students with the funding they need to invest in their future." Ascent is grounded in delivering innovative financing alongside a culture of respect, dignity, and personalized financial education and support, equipping students with the tools and confidence to succeed. This funding allows Ascent to continue to bring innovative products to students: Graduate Outcomes Based Loan Product — As federal policy shifts make graduate school harder to access, many qualified learners are at risk of being left behind. Ascent is committed to changing that through its continued focus on Outcomes Based Lending and bringing this solution to graduate students by evaluating each student's expected post-graduation earning potential, not just their current credit profile, to offer loans that they can afford to pay back post-graduation. Aviation Loan Program — Flight training tuition and expenses often exceeds $100,000 and are frequently ineligible for federal aid, leaving aspiring pilots with limited financing options. Ascent's Aviation Loan program is designed around early-career aviation pathways, evaluating students based on expected starting income rather than current credit history or cosigner access. The initiative builds on Ascent's established track record supporting skilled trades such as electrical lineworkers, welders, and healthcare professionals. Grad School Loan Calculator — A proprietary interactive digital tool that provides immediate clarity on the cost of advanced degrees. The calculator allows students and financial aid officers to model the total cost of attendance and the need for private student loans vs. federal loans, helping borrowers assess funding needs against future earning potential rather than traditional credit constraints. Ascent's growth is anchored by a team that understands both the complexity of student financing and the real lives behind every application. With this new funding, Ascent is announcing several leadership appointments to support its next phase of growth: Ryan Gray, has been appointed Co-President and will oversee Finance, Capital Markets, Credit & Analytics, Technology, Operations and Human Resources. Tristan Fleming, has been appointed Co-President and will lead Sales & Marketing, Product, Impact, and Legal & Compliance. "Ryan Gray and Tristan Fleming have been instrumental to Ascent's growth for the last 10+ years and are widely respected leaders in education finance," said Ruggiero. "Their new roles position Ascent to accelerate innovation, bring new products to market faster, and respond to the evolving needs of students and schools." Along with a strong team of more than 120 professionals headquartered in San Diego, Ascent will continue to differentiate itself from traditional lenders by partnering closely with institutions and families, combining flexible financing with practical financial wellness support. This relationship-driven approach enables Ascent to scale across diverse markets while advancing our mission to increase borrower income by $10 billion by 2028, as well as remain focused on serving credit-invisible borrowers who are often overlooked by traditional credit models. TD Securities served as exclusive placement agent for Ascent on the Series C financing, and Cooley served as legal advisor to Ascent. For more information about Ascent's innovative financing and student success initiatives, visit ascentfunding.com. ABOUT ASCENTAscent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student's ability to plan, pay, and succeed. Ascent's rare Outcomes-Based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans. For more information, visit www.ascentfunding.com.

February 19, 2026 | By: Ascent
The Future of Student Loans: 2025 Trend Report
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.

February 19, 2026 | By: Ascent
Ascent Funding Named a Finalist for U.S. Chamber of Commerce Foundation’s 2025 Citizens Awards
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.

November 03, 2025 | By: Ascent
What the Elimination of Grad PLUS Loans Means for Graduate Schools and How to Prepare
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.

February 18, 2026 | By: Ascent
Ascent Named Best Student Loan Lender for no-cosigner loans from Buy Side from The Wall Street Journal
SAN DIEGO, CA – March 13, 2025 – Ascent, a leading provider of student loans and financial wellness resources, is proud to announce recognition as the “Best Student Loan Lender for no-cosigner loans” from Buy Side of The Wall Street Journal. This prestigious acknowledgment highlights Ascent’s commitment to empowering students with affordable financing options and robust tools to support educational and financial success. The Journal’s evaluation highlighted Ascent’s innovative approach to student lending, which prioritizes accessibility, flexibility, and borrower support. Ascent was recognized for its ability to cater to a broader range of students, including those with limited or no credit history, by considering forward-looking factors like future earning potential rather than solely relying on credit scores. This forward-thinking approach, coupled with competitive rates, customizable loan terms, and progressive repayment options that adjust to borrowers’ incomes, sets Ascent apart. Ascent offers a uniquely personalized and student-centric borrowing experience, making it the clear leader in no-cosigner loans. Ascent is committed to empowering students and families with transparent lending processes designed to simplify financing a college education. Ascent offers a variety of loans, enabling support for a diverse range of students with varying financial needs and circumstances. With over 40 flexible repayment options, Ascent allows students to tailor their loan experience to fit their unique financial situations, ensuring manageable repayment plans. Ascent does not charge application or disbursement fees, demonstrating its commitment to affordability and transparency. Additional standout features of Ascent’s approach to supporting student outcomes includes cash-back rewards upon graduation and the distinction of having awarded more than [scholarship_awards_amount] in scholarships. By focusing on accessibility and student-centered solutions, Ascent empowers students to pursue their educational dreams with confidence. Ascent goes beyond just financing but provides borrowers’ long-term financial success through AscentUP, an asynchronous training platform and wrap around support services with resources for budgeting, school success, and career readiness. "We're proud to be recognized by The Wall Street Journal as a top student loan lender,” said Kim McNealy, SVP & General Manager of Education Financing at Ascent Funding. “This recognition underscores our commitment to providing students with the financial tools and resources they need to succeed both academically and financially. Through flexible loan options, financial literacy resources, and innovative support services, we strive to break down barriers to education and help students navigate their academic and financial futures with confidence." The Journal’s evaluation process involved a comprehensive analysis of 19 companies across key categories such as repayment options, eligibility requirements, interest rates, loan terms, and customer support. Each lender received a weighted score, with repayment options accounting for 30%, eligibility for 25%, interest rates for 20%, loan terms for 15%, and customer support for 10%. Ascent’s innovative lending practices and borrower-focused features excelled across these categories, solidifying its position as the top choice for no-cosigner loans. ABOUT ASCENTAscent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student's ability to plan, pay, and succeed. Ascent's rare Outcomes-Based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans. For more information, visit www.ascentfunding.com. ABOUT WALLSTREET JOURNAL The Wall Street Journal (WSJ) is a leading global news organization, renowned for its in-depth coverage of business, finance, and world news, providing readers with trusted analysis and commentary across print, digital, and mobile platforms; recognized as a premier source for business information, the WSJ is published by Dow Jones and boasts a distinguished reputation for high-quality journalism, including multiple Pulitzer Prizes.

March 13, 2025 | By: Ascent
Ascent and the Forward Fund Launch $7 Million Fund
SAN DIEGO, Dec. 4, 2024 /PRNewswire/ -- Ascent, a leading provider of innovative financial products and student support services that enable more students to access education and achieve academic and economic success, is proud to announce the launch of a $7 million fund in partnership with The Forward Fund. As part of Ascent's growing Impact Program and advancement of its goal to increase income for students by $10 billion in five years, this partnership provides alternative financing solutions for adult learners to increase access to higher education or workforce training, and, ultimately, advance economic mobility. In the U.S. today, 6 million adults are currently unemployed while 8 million jobs are available, many within skilled trades that aren't always seen as attractive to young adults and their parents. Meanwhile, 181 million Americans do not hold a college degree which often means trade roles are their most viable options. A recent McKinsey & Company report found that the trades with the largest and most critical gaps include construction laborers, electricians, welders, cutters, solderers, and braziers. Ascent and The Forward Fund began their collaboration on October 28 to provide easier access to these critical trade roles. The partnership will initially support students attending The Cape Fear Community College Electrical Lineworker Training Program. The Carolina Energy Workforce Consortium estimates that the industry will need approximately 800 new linemen each year for the next five years. In this pilot initiative for Southeastern North Carolina's The Forward Fund, Ascent will provide loan origination and servicing through 0% interest loans. Loan repayments are tied to career and economic outcomes and cycled back into the Fund to "pay it forward" to future learners. "American adults are struggling to find jobs today while employers are not convinced the applicants' skills meet their needs. While Ascent is already supporting those who need accessible loan offerings, including our Outcomes-Based and Zero-Percent Loans, this partnership enables us to take our mission one step further, combining the power of social, public and private sectors to address the widening gap between high-demand jobs and adult learners who are prepared for the workforce," said Tristan Fleming, Chief Impact Officer of Ascent. "93% of Ascent college loan borrowers and 82% of Ascent bootcamp and career loan borrowers come from low income backgrounds and earn higher salaries upon graduation from their programs. These funds will allow us to provide even more opportunities and stronger durable economic mobility for North Carolinians." "We are thrilled to collaborate with Ascent Funding, a leader in innovative student financing solutions," said Meaghan Dennison, CEO of The Forward Fund. "As the state's first pay-it-forward fund, we have an incredible opportunity to provide effective and sustainable funding mechanisms for workforce development. By utilizing Ascent's expertise, we can focus on helping our learners secure quality employment, leading to higher wages and greater economic mobility." This partnership comes on the heels of Ascent's Colorado-based Forward Fund, in partnership with Social Finance, that empowers adult learners attending The Master's Apprentice and CareerDash workforce training programs. As celebrated in its 2023 Impact Report, Ascent's Impact and Zero-Percent Loans have supported more than 2,500 students to date. The Forward Fund partnership will bring Ascent one step closer to fulfilling its mission of increasing student income by $10 billion by 2028. To learn more about Ascent's commitment to adult learners, visit ascentfunding.com. ABOUT ASCENTAscent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student's ability to plan, pay, and succeed. Ascent's rare Outcomes-based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans.

December 09, 2024 | By: Ascent
Ascent Completes First Ever Public Securitization of Career Education Consumer Loans
SAN DIEGO, Sept. 11, 2024 /PRNewswire/ -- Ascent, a leading provider of innovative financial products and student support services, enabling students to access education and drive durable economic mobility, is proud to announce the closing of its second public securitization, and its first securitization of career education consumer loans. Ascent's career loans provide funding to students attending skills training programs with high return on investment of their education, including coding, automotive, cybersecurity and other trade skills. The issuance included three classes of fixed-rate notes: Class A, Class B, and Class C, all of which were rated by Morningstar DBRS. Atlas SP acted as structuring agent and Atlas SP and Cantor Fitzgerald acted as bookrunners for the deal. This comes on the heels of the student success company's first public securitization of college loans in a $287 million offering. With an estimated 57% of high school graduates never enrolling in college and 44 million students attending but not graduating college, Ascent's career loans provide a much-needed alternative, empowering adult learners to attend high ROI programs that drive economic mobility. These learners can benefit from faster program completion and lower tuition due to shorter programs. To date, Ascent has provided $450 million to over 42,000 skills training students, enabling these learners to increase incomes and improve the FICO score of 98% of its borrowers. "At Ascent, we are passionate about developing innovative products that make entry into the workforce a reality for as many adult learners as possible," said Ken Ruggiero, co-founder and CEO of Ascent. "After our first successful public securitization, I'm proud to have completed our first-ever securitization of career education consumer loans which will help us continue to offer affordable financing to learners and enable growth with more training providers." "We were able to attract several new investors which allowed us to create this new ABS asset class." said Ryan Gray, Chief Financial Officer and Chief Operating Officer of Ascent. "This securitization is transformative to our platform as we continue to provide access for adult learners to pursue skills training for high demand jobs at lower costs. Ascent is committed to building durable economic mobility for its students. The company is more than a student lender, focused on helping students plan, pay and succeed before, during and after school, remaining steadfast in its goal of improving the income of its borrowers by $10 billion dollars in five years. View the 2023 impact report here. ABOUT ASCENTAscent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student's ability to plan, pay, and succeed. Ascent's rare Outcomes-based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans.

September 17, 2024 | By: Ascent
Ascent Partners with Social Finance to Support The Master's Apprentice Program!
Denver, CO (May 29, 2024) — Denver-based trade school The Master’s Apprentice today announced a partnership with the Colorado Pay It Forward Fund, a job training initiative designed to help more Coloradans enter in-demand careers. Through this partnership, qualifying Master’s Apprentice students can access zero-interest loans to help them pay for living expenses as they complete the program’s hands-on, six-week training. Though The Master’s Apprentice is no-cost for students, many are unable to leave full-time work to enroll in the program. These living expense loans address financial challenges so students can focus on training. All loan repayments are recycled into the Fund to support future learners. The loans are originated by Ascent Funding, a leader in outcomes-based lending and student success. “Our program provides transformative instruction and leads participants to well-paying careers in the skilled trades, if they can commit to six weeks of training,” said Scott Flores, Chief Operating Officer of The Master’s Apprentice. “This partnership provides a bridge over financial barriers for students, making it possible for more people to make that commitment and begin the next chapter of their lives.” “We’re excited to be leading the Colorado Pay It Forward Fund’s investment in The Master’s Apprentice,” said Andrew Chen, Vice President of Impact Investments at Social Finance. “The Master’s Apprentice has a track record of successfully placing graduates in trades apprenticeships and entry-level construction jobs, helping them access economic mobility. The program is also building a pipeline of more diverse, skilled talent for local employers. It’s a win-win.” Founded in 2013, The Master’s Apprentice is a pre-apprenticeship program that prepares workers for in-demand careers in a variety of trades, including carpentry, electrical, plumbing, and heating, ventilation, & air conditioning (HVAC). In addition to hands-on learning in workshops, participants receive instruction in financial literacy, construction math, and other soft skills to prepare them for success in the job market. The program serves students from diverse backgrounds, including young learners (ages 18-36) and those who were previously incarcerated. Over 80% of Master’s Apprentice graduates land industry jobs after training, earning starting wages that are on average $8,000 higher than their previous salaries. Eden, a single mother with some prior training in the trades, struggled to land a job in the industry. She enrolled in The Master’s Apprentice after learning that their intensive program would help broaden her skills. The zero-interest loan, which she used to cover rent, kept her afloat during training. Before she even graduated, Eden received multiple job offers. She accepted a position as a Cabinet and Furniture Restoration Technician at Furniture Medic, as the role provided a pathway into a career she is passionate about. Today, she makes double what she was earning previously in her retail job. “Enrolling in The Master’s Apprentice was the best thing I could have done. It not only gave me the skills I needed to start a new career, but it provided me with a loan that allowed me to focus on my training without worrying about how I would pay my rent,” said Eden. “Now I have a job that I’m passionate about. I’m not just making ends meet, I’m building a future for myself and my daughters.” The Colorado Pay It Forward Fund is an initiative of national nonprofit Social Finance and five Colorado foundations, including Colorado Gives Foundation, The Colorado Health Foundation, Gary Community Ventures, Walton Family Foundation, and other local donors. The Fund aims to strengthen the workforce development ecosystem in Colorado by providing low-or-no interest loans to learners, training providers, and employers to train more workers for the state’s most in-demand jobs. Students interested in enrolling in training with The Master’s Apprentice can apply here. Enrollment is currently opening for training starting on June 24. More information about the Colorado Pay It Forward Program is available at socialfinance.org/Colorado. ### About Social Finance Social Finance (SF Advisors, LLC) is a national nonprofit and registered investment advisor. We work with the public, private, and social sectors to create partnerships and investments that measurably improve lives. Our Impact Investment team designs, launches, and manages impact-first investments. Our Advisory team partners with government and philanthropy leaders to implement data-driven programs for social impact. And through the Social Finance Institute, we aim to build the field and change systems through actionable research, communities of practice, and educational outreach. Since our founding in 2011, we have mobilized more than $350 million in new investments designed to help people and communities realize improved outcomes in workforce and economic mobility, health, and housing. Learn more at socialfinance.org. About Ascent Ascent is the leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed with the best-in-class teams and technology to increase every student’s ability to plan, pay, and succeed. Ascent’s rare Outcomes-based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans.

June 02, 2024 | By: Ascent
Ascent is Providing Access to Paid Internships and Free Career Training  for Its Borrowers
AscentUP and Riipen Partner to Launch Paid Internship Program, Exclusive to Ascent Borrowers   SAN DIEGO, May 2, 2024 – Ascent is proud to unveil the AscentUP Internship Program, in partnership with AscentUP and Riipen to offer its borrowers exclusive access to paid remote internships, as well as invaluable professional development training and one-on-one career coaching. Funding for the inaugural cohort was provided, in part, by a grant from Goal Beyond, a 501c3 non-profit organization with a shared mission to empower learners with practical experience and the robust skills essential for thriving in today's dynamic workforce.   The AscentUP Internship Program is designed to bridge the education-to-employment skills gap and equip students and recent graduates with the skills, confidence and experience necessary to succeed in today’s competitive job market. While internships have been proven to be extremely beneficial in securing experience and future employment, the top reason for not having an internship is difficulty in obtaining one (Gallup, 2023).  Through a comprehensive curriculum consisting of custom-developed career readiness micro-courses and personalized coaching sessions, followed by a connection to project-based internships, participants will gain enhanced resume credentials, access to paid internships and increased employability prospects.   "Cultivating career pathways and driving durable economic mobility for our borrowers has always been at the core of our mission,” said Co-Founder and CEO of Ascent, Ken Ruggiero. “By partnering with Riipen to launch the AscentUP Internship Program, we're not just offering internships; we're opening doors to invaluable opportunities that can shape their futures. The first internship is often the most elusive yet crucial step in launching a successful career and we believe that by providing this access, we're not only helping individuals gain immediate skills and experiences, but also laying down a foundation for long-term financial success."   The AscentUP Internship Program addresses the following areas: Professional development opportunities: Participants receive training, coaching, and hands-on experience to cultivate essential skills and confidence for future career endeavors. Access to vetted talent: Employers gain access to a pool of skilled individuals actively seeking practical experience, reducing recruitment costs and bringing fresh perspectives from emerging talent, driving business innovation and growth.   “This program aligns perfectly with Riipen's mission of empowering students with real-world work based learning experiences and augments this with proven career readiness training from AscentUP, said CEO of Riipen, Dana Stephenson. “Through this collaboration, students will gain access to the tools and skills they need to excel in today's competitive job market, setting them up for success in internships and projects available on the Riipen marketplace. We believe that this partnership will not only bridge the gap between education and employment but also pave the way for students to thrive in their future careers."   In this partnership, AscentUP will pilot the integration of its training platform with Riipen’s experiential learning marketplace, with a focus on tracking participant outcomes and income generation. By combining career readiness coaching with experiential learning, the program aims to achieve higher outcomes for our borrowers and help Ascent reach its goal of increasing income for its borrowers by $10 billion in the next five years. About Ascent: Ascent is the leading provider of innovative financial products and student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed with the best-in-class teams and technology to increase every student's ability to plan, pay, and succeed. For more information, visit www.ascentfunding.com.      About AscentUP: AscentUP is dedicated to bridging the education-to-employment gap and empowering students to achieve their full potential in the workforce. Through comprehensive training, coaching, and experiential learning opportunities, AscentUP aims to equip students with the skills and confidence needed for career success. For more information, visit AscentUP.com.   About Riipen: Riipen is a leading experiential learning platform that connects students with real-world projects from industry partners. By facilitating meaningful collaborations between students and employers, Riipen aims to bridge the gap between education and employment while driving innovation in the workforce. For more information, visit Riipen.com About Goal Beyond: Goal Beyond is a non-profit organization, founded in 2021 and based in San Diego, CA, with a mission to create the ecosystem enabling all learners to access a quality education and employers to source talent in a rapidly evolving labor market. Our strategy focuses on four core themes to empower learners along the entire continuum of their academic and professional paths to unlock durable economic mobility. For more information, visit www.goalbeyond.org For media inquiries, please contact: Jessica Schwartz, Social Impact jschwartz@ascentfunding.com 877-216-0876

July 26, 2024 | By: Ascent
Ascent Launches Outcomes-Based Lending Options for Bootcamps
Students, including those with DACA status, attending accelerated learning programs can apply for Ascent's Outcomes Loan to cover their school costs.

August 08, 2024 | By: Ascent