Private Student Loan Advice & College Financing Resources

Ascent Funding explains what student loan forbearance is and what the pros and cons of forbearance are. Learn more and see if you qualify.

EFC stands for Expected Family Contribution and is a number used in the FAFSA process to help calculate your eligibility for financial aid. Learn more about EFC and the switch from EFC to SAI.

If college savings or financial aid falls a bit short, you may find yourself exploring different loan options to help fund your student’s education. However, that can feel like navigating through a wild maze of options. Thankfully, there are loans to help you support your student, including two loan types for parents: private parent loans and federal parent PLUS loans.   These loan options have their own set of rules, benefits, and downsides and the choice you make could affect your finances and your student’s academic path. Understanding federal parent PLUS loans vs. private loans can help you make smart financial decisions that meet your needs while ensuring that your student gets a great education.  At a Glance: Parent PLUS Loan vs. Private Loan  ​​​Understanding the difference between federal parent PLUS loans vs. private student loans is a crucial first step to financing your student’s future. Here’s a quick side-by-side comparison of each college student loan:  Feature Private Parent Loans Parent PLUS Loans Type of Interest Fixed or variable Fixed Interest Rates 3.39%-17.99% (Source) 9.08% for 2024-25 school year (Source) Origination Fees Varies by lender; Ascent’s Parent Student Loan has no application, origination, or disbursement fees 4.228% Repayment Terms Varies by lender; typically 5-25 years Varies by loan balance and repayment plan; 10-25 years Deferment Options May offer deferment or forbearance options based on the lender Deferment or forbearance options are available, though terms may vary Borrowing Limits Up to cost of the school's attendance; some lenders have set borrowing limits Up to the cost of the school's attendance minus federal financial aid Credit Requirements Varies based on the lender; typically above 600 Additional application requirements for those with adverse credit histories FAFSA Requirement? No Yes Degree Type Undergraduate or advanced degrees Can only be used for undergraduate degree  What Is a Parent PLUS Loan? Parent PLUS loans, now known as Direct PLUS loans, are federal loans with fixed interest rates and fees currently set by the U.S. Department of Education. Parents of dependent undergraduate students can apply for these loans to cover education expenses for college and select trade schools, or other career training institutions. The fixed interest rate provides more stable repayment options but can come with a higher interest rate compared to private student loans.  To be eligible for a parent PLUS loan:  You need to be the biological or adoptive parent of a dependent undergraduate student (legal guardians or grandparents are only eligible if they legally adopt the student).  You must meet minimum credit requirements based on a credit check.  Students must meet the overall financial aid eligibility requirements.  Students must be a U.S. citizen or eligible non-citizen.  The student can’t have student loan defaults unless resolved or consolidated into another federal loan.  What Is a Private Parent Loan?  A private parent loan, often referred to as a parent student loan, can help parents secure a loan to cover any costs that exceed what federal loans and financial aid cover for your student’s education, including non-tuition expenses.   When comparing private parent student loans vs. private student loans for students, a private loan:  Allows a legal guardian to apply if their student is working toward an undergraduate or a graduate degree, or certification education at an eligible school.   Gives other options for families who do not meet all the loan requirements.   Can offer more competitive rates.  Can provide the additional funding needed to fully cover education costs but may have more stringent credit requirements.  May offer flexible repayment options and allow borrowers to defer payments while your student is in school.  Not all schools are eligible to certify a parent student loan, so be sure to check with the student’s school before applying. You can check your rate with Ascent without impacting your credit score here.    Parent PLUS Loans vs. Private Student Loans: What’s the Difference? Each college student loan type offers unique benefits and challenges that can influence your financial roadmap. Below is a summary comparison of parent PLUS loans vs. private student loans:   Interest rates: Private student loans may offer varying interest rates depending on your credit score, while parent PLUS loans have a fixed interest rate set by the government.  Fees: Both loan types may come with fees, but the types of fees and amounts can differ. It’s important to understand what fees you may incur, so you’re not paying more than you need to. (An Ascent Parent Student loan has no fees, ever.)  Repayment terms: Private parent loans may provide a range of repayment options depending on the lender. Ascent’s Parent Student loan features both Interest-Only and Immediate Full Principal & Interest (P&I) in-school repayment options. Parent PLUS loans have three repayment options: Standard Repayment, Graduated Repayment, and Extended Repayment.  Deferment options: Some private loans may offer deferment options while your student is enrolled in school. Parent PLUS loans also offer deferment options, though the terms may vary. Remember that during deferment, interest continues to accrue on the loan.  Eligibility criteria: Private lenders may have unique credit and income eligibility requirements, so check the eligibility requirements to make sure you qualify. You cannot have an adverse credit history with Parent PLUS loans and must meet general eligibility requirements. In either case, a hard credit check may be done.  Loan amounts: The loan amounts for private parent loans can vary depending on your credit history, while a parent PLUS loan amount is limited to the full cost of your child’s education, including tuition, room, board, and other associated costs.  How to Decide Between a Parent PLUS Loan and a Private Student Loan Choosing the right student loan option will depend on your financial situation and unique needs. Before deciding, consider the financial aid package your student may receive, which will outline the cost of attendance and the federal loans and/or grants they’re eligible for.  Your creditworthiness, income, and budget are also important factors that may influence your decision between a parent PLUS loan vs. a private loan.   When a Parent PLUS Loan Might Make Sense  A parent PLUS loan may be a good option if:  You have an average or mediocre credit score: Since parent PLUS loans are based on when you borrow, rather than on creditworthiness, you don’t have to have good or excellent credit to benefit. You must show that you don’t have an adverse credit history that includes issues like bankruptcy.  You work for a nonprofit or are a public servant: You may be eligible for the Public Service Loan Forgiveness (PSLF) program if you took out a parent PLUS loan.   You want to consolidate into a federal student loan: Many people with federal loans make use of income-driven repayment plans, but those apply to federal student loans, not parent PLUS loans. However, you may consolidate into a federal loan if you are eligible and thus qualify for income-driven repayment plans.  When a Private Loan Might Make Sense  A private loan may be a good option if:  You have a good to excellent credit score: Interest rates for private loans are partially based on the borrower’s creditworthiness. When comparing parent PLUS loans vs. private loans, you’ll likely get a better rate on a private loan if you have great credit.   You prefer a shorter loan term: Private loans often have more repayment term options.   ​​You can pay the loan quickly: Private loans may offer variable interest rates. If you borrow while rates are low and can pay it back quickly, you could capitalize on those low interest rates.​​​  ​​​You are trying to build your credit: Borrowing private student loans can help build and improve your credit history when managed responsibly. Since private student loans are reported to credit bureaus, making on-time payments consistently can strengthen your credit score over time. A strong credit profile can open doors to better interest rates on future loans, credit cards, and even housing opportunities. ​​  Alternatives to Parent Student Loans While parent student loans are a common solution for covering education costs, other options are available. Research may uncover other financing options that better fit your budget and needs to help cover your student’s school expenses. Other financing options include:  Cosigned loans: This allows a parent or cosigner to share the financial responsibility for the loan with their student. Cosigned loans can make it easier for your student to qualify for a loan or secure a better interest rate, especially if you have a good credit history. For a deeper dive into cosigning, check out our article: why do you need a cosigner?  Researching scholarships: Explore private scholarships available for your child’s field of study or extracurricular activities.​ Ascent has awarded over $330,000 in scholarship giveaways to date. ​  Discussing alternative financial aid options with your college or trade school: Engage early with financial aid offices at prospective colleges to understand all available options to ensure you maximize available aid.  Exploring savings plans: Consider establishing an education savings plan early to help offset future education costs.   Considering work-study programs: Work-study opportunities can help your family cover education costs while providing your student with valuable work experience. You can check to see if you’re eligible for work-study programs by completing the Free Application for Federal Student Aid (FAFSA®).  Choosing an affordable school: Consider colleges or trade schools that fit your budget, so you don’t have to borrow as much. In-state institutions, public universities, and trade schools may be more affordable if you’re on a tighter budget.  Learn More with Ascent Navigating the financial path to higher education can be challenging for parents and students, and understanding your options is the key to making informed decisions about your future and finances. Whether you’re a parent, guardian, or student borrower, Ascent is here to help you decide between a parent PLUS loan vs. a private loan so you can achieve your financial goals. For more tips and resources, check out our financial wellness center or follow our blog for new updates. FAQ  What Are the Negatives About Parent PLUS Loans?  Potential drawbacks of a parent PLUS loan are that they are non-transferable, may have higher interest rates, and have no grace period (parents are expected to start paying on the loan within 60 days of loan disbursement).   Do Parent PLUS Loans Get Forgiven When a Parent Dies?  Yes, if ​a parent​​, ​or the qualifying student​,​ dies, the loan will be discharged.   Do Parent PLUS Loans Have Lower Interest Rates?  No, parent PLUS loans typically have higher interest rates because eligibility isn’t based on creditworthiness. If you have good credit and desire lower interest rates, private lenders may offer better rates for student loans.  What Disqualifies You from a Parent PLUS Loan?  An adverse credit history may disqualify you for a parent PLUS loan. Adverse history occurs if you have issues like bankruptcy or foreclosure on your record. You may be able to appeal or add a cosigner to receive a parent PLUS loan.   Is It Better for a Parent or Student to Take Out a Private Loan?  Generally, if the parent has a good credit score, they may qualify for better interest rates and terms. However, if your student qualifies for financial aid and federal student loans, it may be beneficial to start there so you’re only taking out additional loans for what you need.  

Making the decision to go to dental school is a big decision. That’s why it’s important to have a clear understanding of the financial investment that you are signing up for. As you begin to explore your dental school options, you’ll also come across how you’ll navigate the costs and fund your education. Whether you are just starting to think about dental school, or starting your application, this guide will offer you the tools and information you may need about DAT fees, finding ways to pay for your tuition through scholarships, payment plans and more, to make your process easier and get you started on the right track.   “Pursuing a career in healthcare is undeniably challenging, but for those fueled by true passion, it becomes a deeply rewarding journey. The first and most important step is developing the right mindset and being prepared.” - S. Chintalapudi, Dental School Applicant  What is the DAT & What Are the Fees?  The DAT is the Dental Admission Test and it is crucial to your application process. The exam includes four sections timed over five hours and fifteen minutes. It is accepted by all dental schools in the U.S., and select schools in Canada, and is one of the factors that is considered when evaluating a potential student. When you apply for the exam, there is a non-refundable and non-transferable exam fee of $560. There is also a partial fee waiver that can cover 50% of the exam fee and 100% of a full practice test, but there are a limited number available per year. Additionally, you may have to qualify for additional requirements that you can find on the American Dental Association website and Candidate Guide.   In addition to figuring out how you will pay for the costs of the test, also make sure to choose the right testing day for you. Give yourself enough time and budget to take all the practice exams you may need and hire a tutor if  needed. Planning for your DAT exam properly will help set you up for success, both academically and financially!  “Beyond tackling rigorous science classes, you might need tutoring, which can range from free to $30 an hour. Shadowing dentists and volunteering are typically free but require significant time investment. Then comes preparing for the DAT. Prep courses range from $400 to over $1,000. Accelerated courses focusing on “high-yield” topics add another $100 or more per class. While many resources are available, programs like DAT Booster or Bootcamp often provide sufficient preparation within three months to six months.” - S. Chintalapudi, Dental School Applicant  Understanding Tuition  Similar to undergraduate tuition, dental school tuition can vary depending on if you are attending a public or private institution. On average, public dental schools have a total tuition of about $180K and private total tuition of up to $330K, as according to the ADA. However, tuition does not include everything you may need when in school. There are additional costs for dental instruments, textbooks, living expenses such as housing, food, transportation, and other potential school materials. These expenses could impact you by potentially adding another $32,000 or so to your total expenses.   “When interviewing at each school, the administration is pretty transparent on what the cost breakdown for everything is, but I didn’t expect dental school to cost more than medical school!” - T. Nguyen, Current Dental School Student   What are your funding options?  Don’t let the expenses overwhelm you. There are many ways you can fund your tuition and other expenses while in school.   Work Study: There are work study programs that give you the opportunity to earn money while also gaining experience on or off campus. Check with your school to verify if this is an option for you!   Part-Time Employment can also help provide a source of income as you balance work and study hours.   Payment plans may be another option for you if your school offers them. Payment plans allow you to separate your tuition payments into installments rather than paying the full amount all at once, which can make the expense more manageable.   Scholarships are also an option for you whether you are an undergraduate or graduate student. Ascent has helped students by awarding over $330,000 in no-essay scholarship giveaways! Big or small, any amount you are awarded can help cut your costs.   Ascent offers Dental School Loans with flexible repayment plans!  Get the financial flexibility you need to attend dental school by exploring your options and taking note of how you can prepare as you start applying.   “Expenses can accumulate quickly, including DAT prep courses, interview travel costs, primary and secondary application fees. However, planning ahead and seeking out resources and mentorship can make a significant difference in navigating this process more smoothly.” - M.Le, Dental School Applicant  Before you begin your dental school journey, keep in mind the costs of the Dental Admission Test (DAT), tuition, and living expenses. Being proactive in figuring out your funding options is the first step to preparing for a successful journey. While the application process and funding options can seem intimidating, Ascent is here to provide the information and resources that you may need. Contact a student loan specialist today.  

While managing your student loans can be intimidating, there are ways to simplify staying on top of repayment! It is important to organize information such as what type of student loan you have, certain dates you need to know, your repayment plan, and how to track your payment progress in a way that makes it easy to stay on top of. In this guide, we’ll break down how you can organize and manage your student loan repayment without stress.  The Cost of Missing Payments  Staying disorganized with your student loans could turn into some serious financial consequences. Losing track of payments could lead to missing payments, which then could lead to late fees, higher interest rates, and this could put your credit score in jeopardy. Don’t let your student loans become a long-term burden and take care of your future by being prepared and staying organized today.   Your Student Loan Options  First off: to manage your student loan repayment, you have to understand what type of loan you have. Do you have a federal student loan, a private student loan, or both? Gather the information you need about your loans, including the amounts, interest rates, and due dates. These key details will help you stay organized and avoid missing payments. Where can you get this information? Try checking your loan documents in an online dashboard or account. Make sure you know how to contact your loan servicer, which is the company that handles your payments, in case you have questions or concerns.  Creating your Payment Plan  Once you’ve gotten a clear understanding of your loans, you’re ready to create a payment plan! Most student loans have monthly minimum payments, which are the smallest amount that you are required to pay each month. However, paying more than the minimum payment can help you pay off your loan faster! If your budget allows it, or if you’re able to, paying more than the minimum can make a huge difference over time, and lower the amount of student loan interest you will pay in the future. With Ascent, there are no early repayment fees!   To stay on top of your monthly payment, and avoid missing one, you can enroll in automatic payments where the funds are automatically taken out of your bank account. Here at Ascent, we offer borrowers a 0.25%-1.00% discount on every payment when you are signed up for autopay*. If autopay is not available for you, or if you want another way to keep track of your payments, set personal reminders such as adding a reminder in your digital calendar or writing it in your physical calendar – however you keep track of important school or work deadlines. The key to having a successful plan is finding one that works for you.  Track your Payment Progress   After you’ve created a payment plan, it is essential to stay on top of your repayment by tracking your progress. Keeping track of your payment history and loan balance can help spot any potential discrepancies and see how far you’ve gotten. In addition, stay in touch with your loan servicer as they can provide updates on your account and let you know of any issues relating to your payments. Keeping an open line of communication with your servicer is a way to be proactive with your loan, so that you’re never caught off guard. Ascent has an app that makes it easy for you to manage your loans whenever and wherever you may be. The AscentConnect App allows you to make payments, set up autopay, check your updated loan details or balance, and more.  Extra Way to Pay: Scholarships  Applying to scholarships is an additional way to get funding for your student loan repayment. There are scholarships available for undergraduate and graduate students. Most scholarship applications are free, and it doesn’t hurt to apply - the key is to never stop applying! Even if you don’t think you’d be a good fit, you never know. Every scholarship that you are awarded can go toward reducing your loan balance or your expenses. The more you apply, the better your chances of being awarded some financial aid. Ascent has given away over $330,000 in scholarship giveaways to date. Apply now and make sure you sign up for our newsletter to stay up to date with future opportunities to win dollars for school.   Paying Off Your Student Loans:  Understanding your student loan type, creating a repayment plan, tracking your progress, and finding ways to reduce expenses are key steps in effectively managing your student loan repayment. While paying off student loans can feel overwhelming, breaking the process into manageable steps can make it easier and more manageable. Stay consistent with your student loan payments, and while it may take time, you'll pay off your loans sooner than you think!   * The final ACH discount approved depends on the borrower’s credit history, verifiable cost of attendance, and is subject to credit approval and verification of application information. Automatic Payment Discount of 0.25% is for credit-based loans and a 1.00% discount is for outcomes-based loans when you enroll in automatic payments. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. Automatic Payment Discount of 0.25% available for Credit-Based Loans and Career Training Loans and an Automatic Payment Discount of 1.00% available for Undergraduate Outcomes-Based Loans. Learn more at AscentFunding.com/Ts&Cs. 

Planning for college is an exciting time of life, but it can get stressful when you don't have a clear plan or know your options for paying for college, including loans for undergraduate students.With some research and planning, you can make informed financial choices that benefit you and those supporting you. Following the three steps below will help you understand different ways to pay for college, including types of financial aid, so the only thing you have to worry about is your classes – not your next tuition payment. 1. Start Saving What You Can According to the Education Data Initiative, 30% of families have a dedicated college savings fund, which may include a 529 plan that’s tax deductible. However, they also found that 54% of parents don’t even know what the 529 plan is. If you and your parents can save for college, it’s good to start early, so you understand how to pay for college or university in ways that benefit you most. Here are a couple of options: 529 savings plan: This is a popular way to pay for college because it offers tax-free earnings and withdrawals when the savings are used at eligible educational institutions. There may also be benefits when reporting income on the FAFSA form, and if it’s not spent, you or your parents may be able to roll the funds into a Roth IRA tax-free. The downside is you must spend funds on educational expenses or incur a 10% penalty on withdrawals used for other purposes.  Mutual funds: They give you or your parents the freedom to spend on whatever you want, and you can invest as much as you want. The downside is these funds are subject to taxes and count as income on your FAFSA form. Custodial accounts: These are transferred from an adult to a child when they turn 18, 21, or 25, depending on your state’s regulations. They offer the freedom to save and spend as you want but are subject to taxes.  A few other ways to pay for college include savings from U.S. bonds, a Roth IRA, and a Coverdell Education Savings Account (ESA).  1. Choose a School That Fits Your Budget Deciding how to pay for college starts when choosing your school. Before you enroll, consider the school’s cost and experience. It may seem difficult to measure these factors, but it’s easier when you break it down into your overall return on investment (ROI).  Here are five factors to consider when choosing a school: Cost: This can vary greatly, particularly when comparing public and private colleges. Private colleges are typically more expensive. Major: Consider how your chosen field of study will impact your future salary, and if it will provide the income to pay back loans efficiently. Use a college ROI calculator to estimate how much money you can expect to earn after graduation. Faculty: Good professors can help you network and potentially offer access to relevant internships and job opportunities. Location: Estimate your travel and living expenses for the area so you know what you can expect to spend. Experience: Think about what type of extracurriculars you plan on joining and what they may cost. You can set yourself up for success by finding a balance between your academic interests and your finances, both now and after you graduate. 2. Get the Most Out of Financial Aid Many people take out private student loans to help pay for college, but there are several other ways to pay for college, including financial aid.  Your eligibility for federal financial aid is determined by filling out the FAFSA, which tells you how much you can receive in grants, student loans, and scholarships to pay for college.  Federal student loans are borrowed directly from the U.S. Department of Education at a lower fixed interest rate. Direct subsidized loans (based on need) for undergrads don’t have to be paid back until you graduate, leave school, or drop to part-time status.  Federal grants: There are several types of grants for students including the Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and the Teacher Education Assistance for College and Higher Education (TEACH) Grant. Eligibility and annual awards vary depending on need and field of study. Under select circumstances (like withdrawing early), you may have to repay a grant.  Your financial aid package is determined each year by you and your parent’s income and assets, and you will have to fill it out for each year you plan to attend college.  4. Apply for Scholarships Scholarships are a great way to pay for college because they don’t have to be paid back, making college more affordable for you and your parents or guardians. They may cover all college expenses or a portion, depending on the type of scholarship. Scholarships can be: Offered by your educational institution or other organization. Awarded based on need or merit. For athletes. Specific to certain groups like women or people of color. It’s important to start scholarship research early to meet application deadlines and eligibility requirements. You can find scholarships by: Contacting your school of choice. Searching online. Talking to your school counselor or advisor. Checking with nonprofits, community organizations, foundations, or religious organizations that align with your interests, beliefs, or field of study. Researching state and federal agencies. As you find scholarships, confirm they are legitimate. Searching for financial aid and scholarships is free, and organizations should never ask for money when applying. 5. Ask About Work Study College work-study programs allow you to earn money for school expenses by working a part-time job that’s typically on campus. You must fill out the FAFSA if you’re seeking a federal work-study program. If you’re eligible, you’ll be notified in your financial aid offer. If you don’t qualify for a work-study job through your FAFSA application, consider a part-time position either on or off campus to help pay for college.  A part-time job or paid internship can help cover extra costs associated with college while adding to your resume. It’s also a great way to build relationships and network with others in your field.  One potential downside to work-study programs is that your hours are capped, and wages are lower. You may also have limited job availability and more competition for work-study positions. 6. Use a Tuition Payment Plan Tuition payment plans are a great way to pay for college over time instead of all at once. Through an agreement with your college or university, you can pay tuition-related expenses on a monthly, quarterly, or semester basis. Some plans may also cover room and board if you choose to live on campus, but they typically don’t cover textbooks, personal expenses, or off-campus housing.  If you’re considering a tuition payment plan, it’s important to understand the details as some plans may have rules, fees, or penalties. Fees are typically more common if your payment plan goes beyond the academic school year.  7. Choose the Right Private Lender While your FAFSA financial aid package may include federal student loans and other support, you may still have a gap in funding for your desired school. Private student loans can help cover any shortfalls, but it’s important to compare multiple loan offers to ensure you find the solution that’s best for you and your family.  As you explore private loans, look at the following details to find the one with the best benefits for your future: Interest, fees, and APR: The cost of your loan depends on the interest rate applied to your balance and fees charged by the lender. Knowing the APR helps compare the cost of both interest and fees.  Repayment options: Understand how long your loan lasts and when payments begin.  ACH benefits: Some lenders offer borrower perks if you enroll in automatic ACH payments.  Graduation benefits: Look for additional benefits, like cash back at graduation, that may be awarded by a lender when you graduate from your program.   Cosigner support: Some private student loans require you to get a loan with a cosigner, while others do not. Find a lender that matches your family’s decision on who is responsible for the loan.  Success services: Some lenders offer complimentary access to professional development training, resources, and coaching, like AscentUP. Like choosing the right college, finding ways to pay for college involves multiple factors, including cost and borrower experience, so it’s important to do your research and make a choice that’s best for you! Get the Ultimate Guide to Paying for College As you find ways to pay for college, Ascent is here to serve as a resource for building a strong financial foundation.  From scholarship opportunities to FAFSA advice, you’ll find everything you need to take the stress out of paying for college in our Ultimate Guide to Paying for College. Being informed on how to make responsible financial decisions can help you pursue your goals and attend your dream school. FAQ What are some other ways you can pay for college? In addition to federal financial aid, student loans, and work-study programs, there are other options for paying for college. These include employer tuition assistance, 529 savings plans, and education tax credits. At what age does your parents' income not matter for college? You are considered a dependent student on the FAFSA form if you are under 24 years old. These are special circumstances when you may be considered independent under 24: You are married. You have dependents. You are an active-duty US Armed Forces member or a veteran. You are working toward an advanced degree (master’s or doctorate) the same year you’re seeking financial aid.  You have a legal guardian who isn’t a parent or step-parent, or you are emancipated You are unhoused or at risk of being unhoused. Can I get a Pell Grant without my parents? Federal Pell Grants are ways to pay for college and are typically awarded to undergraduates who need more financial assistance. You can apply for the Pell Grant without your parents' information, but only if considered an independent student per the FAFSA criteria. If you are incarcerated and part of an approved Prison Education Program, you may qualify for the Federal Pell Grant.

Interested in applying for private student loans? Learn more about the step-by-step process of how to apply for a private student loan from Ascent Funding.

The federal student loan payment pause is set to end soon. Make sure you are financially prepared with information from Ascent Funding.

Around 18 million students complete the FAFSA® annually, yet billions of dollars in federal aid go unclaimed each year.  Filling out the FAFSA doesn’t have to be stressful. Understanding how to get started and what information you need to have to fill it out can feel overwhelming – but we’re here to help. For the 2025-2026 FAFSA webinar, we gathered our experts William Wozniak, VP of Communications and Student Services at INvestEd, and Peg Keough, Director of Education at College Aid Pro, to speak with Kumba McGill, our webinar host and Relationship Manager at Ascent. Bill, Peg, and Kumba covered all the important details you need to know to navigate this year’s FAFSA. Get a beginner’s rundown of the FAFSA at 5:50 - What is the FAFSA and why is it important?  Here are the five major takeaways from our session to help you navigate the FAFSA with confidence: Not sure if you're eligible for aid? Apply anyway! The Free Application for Federal Student Aid, also known as the FAFSA, is the starting point for determining eligibility for federal grants and loans, work-study opportunities, state and institutional aid, and even some private scholarships. That’s a whole lot of opportunity in just a single application! In almost all cases, it’s better to file for the FAFSA than it is to not file for the FAFSA. The amount of aid you could be eligible for might surprise you! Skipping it could mean leaving money on the table. Learn about eligibility at 21: 20 - Who is eligible & how do I stay eligible? The 2025-2026 FAFSA has been simplified Good news! The FAFSA has been significantly streamlined. These updates are designed to make the FAFSA more accessible and less time-consuming. This year, the application has been slimmed down – from 108 questions to only 36! Instead of filling out questions you don’t even need to consider, the form uses something called “skip logic” and will skip questions that don’t apply to you, ensuring a quicker and more user-friendly experience. Additionally, tax information is now automatically pulled in from the IRS. (Hooray!) This will save time and reduce errors commonly made when transferring information from tax documents. Make Sure You Understand Key Changes Every FAFSA season brings changes, and this year is no exception. In addition to simplifying the application and importing tax information, this year’s application aims to provide overall greater access to financial aid. If you haven’t been eligible for some types of aid in the past, you may now be eligible for it this year. If it’s been a while since you’ve filled out the FAFSA, you might remember the Expected Family Contribution (EFC). This has been replaced with the Student Aid Index (SAI). The SAI is calculated slightly differently than the EFC – but many families will not see a big difference. Family size and Adjusted Gross Income (AGI) calculations have changed, which would expand eligibility for Pell Grants. Furthermore, the FAFSA is now available in more languages – making it accessible to more families. Listen to the changes in-depth at 17:15 – What's changed? Be prepared to submit additional information Being prepared to submit additional information also means being informed on deadlines. Depending on how you or your student applies for admission (early decision, early action, or regular decision), your college may prioritize your application differently. Learn more about important due dates and deadlines at 11:15 - Important due dates and deadlines If your state offers aid, submitting the FAFSA sooner than later is highly encouraged because some states award aid first-come, first-served. Check your state’s deadline on the FAFSA website. Completing the FAFSA is just the beginning. Colleges may request extra documentation, such as proof of income changes or details about special circumstances. To avoid surprises, submit your FAFSA early – ideally a week before the earliest college deadline. Documents that you will need include: 2023 Federal tax forms and W2s Information about untaxed income (e.g. child support, veterans education benefits, etc.) Current cash or investment balances For more on preparing for your application, go to 27:32 - What do I need to get started? Explore all your options While the FAFSA is an essential first step, it’s not the only resource for paying for college. Scholarships, private loans, and state-specific aid programs can also play a significant role. Filing the FAFSA can even help you identify gaps that these additional resources might fill. Hear how our experts view additional options at 1:07 – What are my other options? In Conclusion All in all, paying for college doesn’t need to be stressful – but it does take some proactive planning. Starting with the FAFSA ensures you have access to as many opportunities as possible. For a detailed breakdown of these insights, watch our webinar recording – and don’t hesitate to reach out to our team of student loan experts with any questions! https://www.youtube.com/watch?v=xYo-DDmWZq8

Dos and Don’ts for Freshmen: Navigating Your First Year with Student Loans  Congratulations on starting this exciting chapter of your life! While starting college can be exciting and new, remember that it is also normal to be confused and have questions – especially if you are financing your education through loans. If you have student loans, knowing how to manage these loans will help you set yourself up for financial success!   To help you prepare for your first year with student loans, we’ve prepared some dos and don’ts to help you navigate your first year with student loans.  Do: Visit your school’s financial aid office  Financial aid offices are on college campuses with the #1 goal of providing information and support to students that need financial assistance. While the office can help you manage your current loans and expenses, there are also opportunities like scholarships and grants that can help lower the amount of money needed on a loan. Ascent also has dedicated student loan specialists to help guide you through applications and answer any questions you may have; additionally, Ascent borrowers receive access to AscentUP, with unlimited access to budgeting resources to support you on how to pay back your loan. At Ascent, we are committed to your success and give that extra help to our borrowers every step of the way!  Don’t: Pass up scholarship opportunities  Don’t overlook scholarships, regardless of where you are in your education!  Did you know that 1.7 million private fellowships and scholarships awarded every year? Scholarships can significantly reduce tuition costs or any other financial expenses that go towards your education, such as textbooks and transportation. Ascent has awarded over [scholarship_awards_amount] in scholarships to date, including no-essay applications that may help you cover some school-related expenses – and are not just for Ascent borrowers. Don’t forget – scholarships should not only be on your radar as you enter college, but the entirety of your college career! Take a look at our active scholarships now: Ascent Scholarships.  Do: Budget and keep track of your expenses  Budgeting and tracking your expenses are crucial to make sure you are spending and saving money appropriately. Tuition, living expenses, social outings, credit card payments, and any other expenses can pile up quicker than you may expect. To keep your costs down, take every opportunity you have when it comes to student discounts and deals; which make it easier to save even more money as a student! When you set a budget, you can avoid unnecessary debt and financial stress. Additionally, you can prioritize spending your money on your essentials like food, rent, textbooks and other supplies, while also putting aside money for savings and emergencies.   Don’t: Wait until graduation to think about repayment   Do not procrastinate or push off thinking about how you are going to pay back your loans! Keep track of your payment due dates, add them onto your digital calendar or reminders list, or write it down. As a borrower, you can review the repayment option you selected in your documents which are available in your Ascent Dashboard under Repayment Schedules. You can also consider setting up automatic payments. When you are enrolled in automatic payments, you take out the extra stress every month of remembering to make a payment. Instead, the payment is automatically deducted from your bank account.   Additionally, Ascent offers borrowers a 0.25%-1.00% discount on every payment when signed up for autopay*. That’s right, we pay you to make smart financial choices. Don’t forget that when you have some extra cash (like a signing bonus or holiday gift!) to contribute to your loan for early payments, or to pay off your loan earlier than expected, it will always benefit you – with Ascent there are no application, origination, disbursement or early repayment fees.  Just remember to keep in regular communication with your loan servicer to stay informed on any changes or updates relating to your loan or payments.  Do: Apply for FAFSA before any student loans  FAFSA opened on December 1st for the 2025-2026 academic year and helps determine your federal aid eligibility.  Regardless of if you think you will be eligible – fill it out. Applying for FAFSA creates opportunities for potential financial assistance that can significantly reduce the cost of your education. This includes Pell Grants, federal student loans, and work-study programs.  Additionally, make sure to submit your FAFSA before you apply for private student loans to see what you can receive first.  As you make your way through this new chapter of your academic journey, remember that the choices you make in your first year can influence both your college and financial experience. When you include tasks like visits to the financial aid office, applying for scholarships and FAFSA, and budgeting and figuring out repayment into your routine, you will be setting yourself up for success. Keep these dos and don’ts in mind as you make the most of your freshman year!  *ACH or Automatic Payment Discount is subject to credit approval and verification of application information. When you enroll in automatic payments, an Automatic Payment Discount of 0.25% is applied to credit-based private education loans and a 1.00% discount is applied to outcomes-based private education loans. For Ascent consumer loans made prior to March 3, 2024, the current Automatic Payment Discount is an interest rate reduction of 0.25%. For Ascent consumer loans made after March 3, 2024, the current Automatic Payment Discount is an interest rate reduction of 1.00%. Automatic Payment Discount is not available for delinquent accounts. For more information about Ascent’s consumer loan and benefits, visit Ascent Terms and Conditions. For more information about Ascent’s private education loan and benefits, see repayment examples and review Ascent’s Terms and Conditions and Borrower Benefits.

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.