In the Press Archives - Ascent Funding

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
Ascent Lowers Annual Percentage Rates (APRs) to Support Students and Families
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.

August 14, 2025 | By: Ascent
Ascent Named Best Places to Work in Fintech 2025
For the fourth year, San Diego-based fintech recognized for innovative culture Ascent, a leading provider of innovative financial products and student support services that enable more students to access education and achieve academic and economic success, has been named one of the 2025 Best Places to Work in Fintech, an awards program created in 2017 by Arizent and Best Companies Group. The 2025 list, which includes 29 distinguished companies, was published by Arizent brands American Banker, National Mortgage News, Financial Planning and Digital Insurance on May 12, 2025. "The Best Places to Work in Fintech ranking is a glimpse into the company practices and policies that are popular with employees in the financial sector," said Penny Crosman, executive editor, technology at American Banker. "This year's honorees can serve as an inspiration or nudge to companies looking to attract and retain top talent." Ascent Funding stood out among competitors for its employee-centric practices, commitment to innovation in student lending, and positive workplace environment. "This award validates our dedication to building not just an innovative fintech company, but a workplace where employees can thrive while making education more accessible to students," said Ken Ruggiero, CEO at Ascent. "Our team's passion for helping students achieve their educational dreams not only drives our company culture, but also our success." Ascent's selection was based on a rigorous two-part evaluation process, including an assessment of workplace policies, practices, philosophy, systems, and demographics, along with a comprehensive employee experience survey. The company's focus on empowering both its employees and the students it serves contributed to its outstanding performance in both evaluation areas. “At Ascent, we’ve built a culture where employees are empowered to grow their careers, bring their authentic selves to work, and feel genuinely supported—whether through our hybrid flexibility, professional development programs, or inclusive benefits that evolve with our team’s needs,” said Emily Skoubo, Director of Human Resources at Ascent. For more information about Ascent Funding's innovative approach to private student lending and career opportunities, visit https://www.ascentfunding.com/. For details about Arizent's Best Places to Work in Fintech program, visit www.BestPlacestoWorkFinTech.com or contact Penny Crosman at penny.crosman@arizent.com. About Ascent Ascent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student’s ability to plan, pay, and succeed. Ascent’s rare Outcomes-based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans.

May 12, 2025 | By: Ascent
The Forward Fund, NCAHEC and Ascent Funding Partner to Tackle North Carolina’s RN Shortage
North Carolina’s nursing shortage is projected to reach nearly 12,500 by 2033. To address this shortage, The Forward Fund (TFF) and the North Carolina Area Health Education Centers (NC AHEC) have joined forces to provide zero-interest loans to individuals enrolling in the NC AHEC RN Refresher program offered in collaboration with the University of North Carolina at Chapel Hill School of Nursing. “This partnership is an excellent opportunity to provide RN Refresher students with funding support to eliminate cost as a barrier -to enrollment in the program and subsequently return to nursing workforce. It is a win-win for the RN Refresher and the nursing workforce in North Carolina,” said Dr. Felicia Mosley-Williams, Statewide AHEC Nursing Liaison and Director of the NC AHEC RN Refresher Program. The RN Refresher program provides accelerated, asynchronous education and training for registered nurses with a lapsed license or an active RN looking to update their knowledge. “The RN Refresher program is committed to helping more nurses return to the field, opening a variety of career pathways, and investing in nursing’s commitment to improve the state of healthcare in North Carolina,” said Dr. Jill Forcina, Director of Education and Nursing at NC AHEC. The program consists of 24 self-paced, online modules taught by faculty at the University of North Carolina at Chapel Hill School of Nursing, and a 140-hour clinical practicum managed by local AHECs. Costs for the program are relatively low, however, financial barriers exist preventing RNs from taking advantage of the program. That’s where The Forward Fund’s partnership fills the gap. The Forward Fund will offer zero-interest cost of living loans to individuals enrolling in the RN Refresher program. Loans will vary from $2,000 to $5,000 to cover the cost of living like housing, childcare, and transportation, so RNs can focus on their training and upskilling. “We are proud to partner with NCAHEC and regional area education centers to provide zero-interest financing to support RNs to reenter the workforce,” said Meaghan Dennison, CEO and founder of TFF. “We are thrilled to expand our loan offering to the healthcare space with this partnership.” Loan terms include no minimum credit score, a 3-month grace period upon program completion and a minimum income threshold of $30,000, which accounts for part-time employment. Nurses that do not meet the minimum salary threshold may request income-based deferment, during which period they would have no payments due and remain in good standing with their loan. TFF loans are powered by Ascent Funding as the loan origination and master servicing partner. Once approved, loans are disbursed directly to the student. “We’re thrilled to partner with The Forward Fund and NCAHEC to address the coming nursing shortage by lowering the financial barriers for students,” said Michele Shank, VP, Impact & Senior Counsel from Ascent Funding. “Programs like ours help North Carolina nurses return to work, which only means improved healthcare for all." Interested students learn more about the RN Refresher program here and identify the local contact to be introduced to this financing opportunity. About the Forward Fund The Forward Fund, headquartered in Wilmington, North Carolina, is the state’s only pay-it-forward fund. Dedicated to empowering students, The Forward Fund provides tailored financial support to help students enroll in educational programs, graduate, and secure high-wage employment. This innovative model invests in individual success and ensures local employers gain access to a skilled workforce essential to North Carolina's growth. Website: https://theforward.fund/ LinkedIn: https://www.linkedin.com/company/theforwardfund Contact TFF: https://theforward.fund/contact/ About Ascent Ascent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student’s ability to plan, pay, and succeed. Ascent’s rare Outcomes-Based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans. For more information, visit www.ascentfunding.com.

May 12, 2025 | 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
Fulfillment Fund Partners with AscentUP and CareerSpring
LOS ANGELES, Dec. 12, 2024 /PRNewswire/ -- Fulfillment Fund, a Los Angeles-based organization dedicated to making college a reality for students growing up in educationally and economically under-resourced communities, is proud to announce its partnership with AscentUP and CareerSpring to provide best-in-class resources and support for its students. This partnership represents a significant step for Fulfillment Fund, as these national organizations will offer even more tailored, foundational career guidance to meet students' unique needs. The partnership coincides with Fulfillment Fund's recent appointment of Amy Grat as Chief Executive Officer, aligning with her vision of advancing the organization's mission to help students access higher education and prepare for their careers and lives, and partner with like-minded organizations for even more student success. Grat's extensive background in career education and youth development, and her passion for organizational impact, create even more opportunities to achieve its mission, beginning with her advocacy to launch this innovative partnership. "We're excited to partner with AscentUP and CareerSpring to enhance our Career Readiness programming. These collaborations will broaden our reach and provide students and recent grads with the tools and experiences needed to bridge the gap between college and their first career-building job. By connecting first-generation, low-income students with professionals across industries, we'll help them gain career exposure, develop networking skills, and build the valuable social capital needed to pursue meaningful careers." - Amy Grat, CEO Fulfillment Fund AscentUP, a student success company, provides professional development training and wrap-around support to help learners build confidence, develop new skills, and jumpstart dream careers. The 50 hours of asynchronous career readiness training designed specifically for the Gen Z audience as well as the customized 1x1 and group coaching experiences provide in-demand intervention to Fulfillment Fund learners. "AscentUP is thrilled to partner with Fulfillment Fund to deliver the unmet need of education-to-employment career readiness which will empower students with the skills and confidence to reach their highest potential," said Allie Danziger, Senior Vice President and General Manager of AscentUP. "Our proven platform offers personalized school success and career readiness support to more than 50,000 learners, has delivered financial literacy and wellness training to over 100,000 students to date, and school success coaching to thousands - we cannot wait to see how our platform can support even more students through Fulfillment Fund's shared mission." CareerSpring empowers first-generation and/or low-income students and graduates with career information, career development skills, professional networks, and employment opportunities, through a free, scalable technology platform and a nationwide community of volunteers and allies. "CareerSpring is excited to continue and expand our partnership with Fulfillment Fund to support their first-generation and/or low-income students and alumni with access to our Career Platform and resources. We've seen firsthand the difference early career exploration, social capital, and personalized career guidance can have in ensuring that our Advisees attain meaningful, high quality employment. We look forward to continuing to support the Fulfillment Fund team and their students," said Paul Posoli, Founder of CareerSpring. Fulfillment Fund's joint partnership with AscentUP and CareerSpring will benefit students throughout 2025. ABOUT FULFILLMENT FUNDFounded in 1977, Fulfillment Fund works to make college a reality for students from under-resourced communities in Los Angeles. Through its partnerships with local schools and community organizations, Fulfillment Fund delivers high-quality, individualized programs that empower students to achieve their educational and career goals. For more information, visit www.fulfillment.org. 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 CAREERSPRINGCareerSpring is a non-profit organization dedicated to empowering first-generation and/or low-income (FGLI) students and graduates with career information and skills, professional networks, and employment opportunities, through a free, scalable Platform and a nationwide community of volunteers and allies. To learn more or get involved, visit www.CareerSpring.org.

December 26, 2024 | By: Ascent
Leading Education Finance Company Wins Industry Awards
SAN DIEGO, July 9, 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, was recently awarded "Best Student Loan for Independent Students" in NerdWallet's 2024 Best-Of Awards. The company was concurrently named "Best Private Lenders of 2024" by The College Investor, "Best Student Loans of 2024" by Forbes Advisor, and a "2024 Best Places to Work in Fintech" by American Banker. NerdWallet's Best-Of Awards winners are chosen through a rigorous and objective evaluation process where its team of trusted Nerds - composed of seasoned journalists and subject-matter experts - assesses features it believes are most important to consumers. This year's award is Ascent's fourth win in this category and sixth from NerdWallet in recent years, previously winning "Best Private Student Loan Overall," "Best Student Loan for Independent Students," and "Best Student Loan for Flexible Repayment." "We are committed to investing in our team that passionately advances our mission to provide innovative, student-centered financial solutions to as many students, parents, and guardians as possible," said Ken Ruggiero, co-founder and CEO of Ascent. "These awards recognize our best-in-class teams and their exceptional contributions to our borrowers." Ascent is lauded for its student-driven offerings and outcomes, which are representative of its belief that loans should expand a student's possibilities rather than limit them, and continuous innovation of new products and wrap-around support services to help its students succeed. Over the last 12 months, it rolled out innovative products and solutions to further empower borrowers, including: no late fees; the AscentUP internship program; and Ascent's Parent Loan, Impact Loan, and Enterprise Loan. Ascent now offers 40 repayment options to college borrowers – no other student lender offers more choices. Ascent is consistently acknowledged as a leader in the student lending industry, repeatedly receiving accolades from respected organizations including CNBC, Investopedia, Bankrate, Forbes, The College Investor, and more. To learn more about award-winning Ascent, visit www.ascentfunding.com or contact Jenny Gustafson at jenny@likemindstalk.com or (713) 416-7280. 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.

July 10, 2024 | By: Ascent
Education Finance Leader Delivers Resource in Response to Ongoing FAFSA^® Issues
SAN DIEGO, June 20, 2024 /PRNewswire/ — Ascent is committed to helping students plan, pay and succeed throughout their education and is proud to launch the "Ultimate Guide to Paying for College" through its partnership with AscentUP, a professional training and career readiness platform. A completely free resource AscentUP created for nonprofits, high schools, parents, and students, the interactive 10-minute guide offers an answer to this year's adverse updates to the Free Application for Federal Student Aid (FAFSA®) application process. The 2024–25 FAFSA form updates were intended to provide financial aid eligibility to more students through a streamlined application. Unfortunately, a three-month delay in the form's access, coupled with debilitating errors and miscalculations, meant a 27 percent decrease in submissions compared to last year. Additionally, nearly 20 percent of FAFSA submissions to date need to be reprocessed due to student aid index calculation errors and incorrect tax data provided by the Internal Revenue Service (IRS). The impacts are so great that local governments have even declared this a "state of emergency" as seen most recently in West Virginia. While many await their FAFSA fates, AscentUP's "Guide" offers actionable tools to assist students and families in evaluating and making educated decisions around which college to attend and how to make it a financial reality. Through The Bright Futures™ Engine, students begin the course by learning how to select their ideal college based on criteria including costs, majors, faculty, location, and on-campus experience. After understanding how to select their future college, students are guided through the options to make education affordable, including federal financial aid, scholarships, and employment. This includes an overview of how the FAFSA process is intended to work and what its results mean for families' financial possibilities as well as where private loans can fill the gap between FAFSA and the actual cost associated with their selected college. Lastly, the Guide defines and educates students on common terms and strategies to pay off loans quickly and with confidence. "As passionate arbiters of student success and ensuring loans result in positive outcomes, we are frustrated with the Department of Education's lack of performance for college-bound students," said Ken Ruggiero, co-founder and CEO of Ascent. "AscentUP's 'Ultimate Guide to Paying for College' offers transparent and accessible tips and best practices to alleviate the stress students and families naturally face during their college application and admissions process. Our guide is even more crucial in the wake of this year's appalling FAFSA errors." Because most higher education institutions require students to secure enrollment with a nonrefundable deposit by May 1, many still don't know how much aid they will be eligible for, if at all. Consequently, approximately 700,000 students face an impossible decision surrounding college acceptance and the prospect of attending college at all. These blunders will further widen the education-to-employment gap that low income and first-generation students already experience. AscentUp and its Guide aims to help as many students as possible navigate the staggering repercussions created by this year's FAFSA updates. As a leader in outcomes-based lending and education finance, Ascent is committed to offering students the wrap-around support services and educational resources that are designed to help borrowers succeed and lead financially independent lives. Its investment in AscentUP and the "Ultimate Guide to Paying for College" advances its mission of setting students up for success, regardless of hardships or external forces. To learn more about the "Ultimate Guide to Paying for College," Ascent and its AscentUP program, visit ascentup.com/ultimate-guide-paying-for-college. ABOUT ASCENT Ascent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student's ability to plan, pay, and succeed. Ascent's rare Outcomes-based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans. 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.

July 26, 2024 | By: Ascent
Leading Education Finance Company Launches Solution for Parents
SAN DIEGO, June 25, 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, recently launched its Parent Student Loan. For the first time, parents, grandparents, guardians, or sponsors will be able to apply for a loan without the student. Ascent's Parent Loan is designed for parents, grandparents, guardians, and sponsors of a student working towards an undergraduate degree, graduate degree, or certificate education at an eligible Title IV school. Parent Loan borrowers benefit from the following features: no late or insufficient fund fees, on top of no application, origination, or disbursement fees, and no penalty if loans are paid off early; a choice of Interest-Only or Immediate Full Principal & Interest (P&I) in-school repayment options; and competitive interest rates. While traditional student loans require students to meet specific eligibility criteria including full-time enrollment, credit score and proof of income, Ascent's Parent Loan offers an alternative for families who do not meet all of the requirements to apply for, or be awarded, a loan. Students will not bear any financial responsibility as cosigners with the Parent Loan product; instead, their parent, grandparent, guardian, or sponsor applies for the loan and is wholly responsible for future loan payments. Additionally, Ascent's Parent Loan provides an opportunity for students to rebuild their credit while increasing the likelihood of their becoming eligible borrowers in the future. By enabling students with damaged credit to qualify for a loan, through their parents and where they would not otherwise, Ascent is helping fulfill its guiding principle of ensuring loans should expand students' possibilities, not limit them. "With the cost of tuition continuing to skyrocket, and generally outpacing most American families' income and financial capacity, we are always exploring innovative options to make the college dream a reality," said Ken Ruggiero, co-founder and CEO of Ascent. "The Parent Loan is one more way in which we hope to realize a more equitable educational landscape." As with any Ascent product, parents can invite their student(s) to access AscentUP, a professional training platform available to Ascent borrowers that offers durable skills resources, training and coaching via relevant courses, and expert insights, empowering confidence for students to reach their career and financial goals. Additionally, Ascent recently launched the AscentUP Internship Program offering borrowers exclusive access to paid remote internships. The Parent Loan offering is part of Ascent's ongoing commitment to the financial future of students and families, providing multiple ways for borrowers to earn money throughout the year, including student and parent scholarships, referral programs, the ability to earn cash back through Ascent Rewards and automatic payment discounts. To learn more about Ascent and its new Parent Loan, visit www.ascentfunding.com or contact Jenny Gustafson at jenny@likemindstalk.com or (713) 416-7280. 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.

July 02, 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 Completes First Public Securitization of College Loans in $287 Million Offering
SAN DIEGO, May 23, 2024 /PRNewswire/ -- Ascent, a leading provider of innovative financial products and student support services, enabling students to access education and achieve academic and economic success, is proud to announce its inaugural public securitization in a $287.43 million transaction. The offering included its most innovative product to increase access to college education, the pioneering Outcomes-based Loan. The inaugural issuance included three classes of fixed-rate notes: Class A, Class B, and Class C, all of which were rated by Morningstar DBRS, with assigned ratings of AA (sf), A (sf) and BBB (L) (sf), respectively. Atlas SP acted as structuring agent and Atlas SP and Barclays acted as bookrunners for the deal. "We are pleased with the execution of the first ever public securitization that includes a product like Ascent's Outcomes-based Loan," said Ken Ruggiero, co-founder and CEO of Ascent. "The efficient execution on our first public transaction provides new and longstanding investors with confidence in Ascent's underwriting model and comprehensive suite of student support services." "We are grateful for the exceptionally strong investor demand for this offering from our large, diversified group of capital providers," said Ryan Gray, Chief Financial Officer and Chief Operating Officer of Ascent. "Ascent's strong capital markets execution continues to be a key differentiator as we grow the business and continue to innovate our products to achieve our long-term goals." 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 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.

May 23, 2024 | By: Ascent