Private Student Loan Advice & College Financing Resources

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.

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 [email protected] 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. 

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. 

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. 

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  [email protected]  877-216-0876 

Students, including those with DACA status, attending accelerated learning programs can apply for Ascent's Outcomes Loan to cover their school costs.

This summer, Ascent is ready to help even more students pay for the upcoming school year, which includes making record-breaking enhancements and launching competitive rates.

Ascent now offers loans for coding bootcamps or accelerated learning programs to further support students investing in higher education.

Ascent has done it again!

Ascent's CEO, Ken Ruggiero, shared his thoughts on the past year and what he's looking forward to in 2021 - including advice for students. Check it out here.

Ascent is dedicated to helping students and their families pay for college, as well as cultivate a strong company culture with new awards.