Ascent Blog: Tag: College Students

A Guide to Parent PLUS Loans
Mar 15, 2022 | By: Ascent | In: Blog, For Students, For Cosigners
What are Parent PLUS loans, and should you look into one? Ascent Funding breaks down what Parent PLUS loans are… Read More
529 College Savings Plan: How to Save for Your Student’s College Fund
Jan 10, 2022 | By: Ascent | In: Blog, For Cosigners, For Parents and Cosigners
A 529 college savings plan is an investment plan to pay for various education costs. Learn more about 529 college… Read More
3 Ways to Address Student Loan Debt Fatigue
Dec 08, 2021 | By: Ascent | In: Blog, For Students
Feeling emotionally drained, weary, or burnt out when it comes to your student loans? Do you see no end in… Read More
5 Ways to Overcome Fear of Student Loan Debt
Nov 29, 2021 | By: Ascent | In: Blog, For Students
The topic of student loans can be scary and cause a lot of anxiety for students. Ascent Funding covers five… Read More
More than Just a Student Loan: What to Look for When Choosing a Private Student Loan
Nov 22, 2021 | By: Ascent | In: Blog, For Students, For Cosigners, For High School Students
When it comes to choosing a private student loan lender, who you work with makes a big difference. Learn more… Read More
The Truth About Private Loans: Top 4 Myths Debunked
Oct 27, 2021 | By: Ascent | In: Blog, For Students, For Cosigners, For High School Students
There are plenty of myths surrounding the idea of private student loans. Ascent Funding is here to debunk 4 common… Read More
How to Successfully Ask Someone to Cosign a Student Loan
Oct 13, 2021 | By: Ascent | In: Blog, For Students, For College Students, For High School Students
Want to ask someone to be your student loan cosigner but are unsure how? Learn how to approach the conversation… Read More
How Much Student Loan Debt is Too Much? 5 Ways to Avoid Overborrowing
Sep 22, 2021 | By: Ascent | In: Blog, For Students, For High School Students
Over half of students overborrow during their time in college. Check out these helpful tips to avoid overborrowing student loans. Read More
Credit Scores 101
Sep 13, 2021 | By: Ascent | In: Blog, For Students, For Cosigners
What is a credit score, and what exactly is a "good" credit score? Learn the basics of credit scores and… Read More
FAFSA® 101: Everything You Need to Know
Sep 07, 2021 | By: Ascent | In: Blog, For Students, For Cosigners, For High School Students
What is FAFSA®? When is it due? Find answers to these questions and more in our FAFSA® 101 crash course. Read More

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“@type”: “Question”,
“name”: “What are credit scores?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “A credit score is a three-digit number that lenders use to determine your creditworthiness (your reliability to pay back a loan on time).”
}
},{
“@type”: “Question”,
“name”: “Why are credit scores important?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Your credit score can impact many aspects of your financial wellness journey, including insurance premiums, interest on loans (including cosigned student loans or non cosigned student loans), credit card rewards, and even cable or phone prices and eligibility.”
}
},{
“@type”: “Question”,
“name”: “How do I check my credit score?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Though it is possible to contact the credit bureaus directly for your reports, the government-authorized website is AnnualCreditReport.com.”
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},{
“@type”: “Question”,
“name”: “What’s a good credit score?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Typically, scores below 580 are considered “poor,” 580-669 is “fair,” 670-739 is “good,” 740-799 is “very good,” and 800-850 is “exceptional.””
}
},{
“@type”: “Question”,
“name”: “How often are credit scores updated?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Credit scores are updated whenever new information is sent to a reporting agency, usually once every month or month and a half. However, there is no hard and fast rule.”
}
},{
“@type”: “Question”,
“name”: “Why are my three credit scores different?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Your Experian, Equifax, and Transunion scores may differ because the credit bureaus have different information, information hasn’t reached them, or they weigh factors differently.”
}
},{
“@type”: “Question”,
“name”: “How are credit scores calculated?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Credit scores look at your length of credit history, types of credit, payment history, and amount of debt, then use those data points to help lenders evaluate how creditworthy you are. FICO has also started incorporating bank account information as another variable.”
}
},{
“@type”: “Question”,
“name”: “When should I start building credit?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “There are benefits to building credit as early as possible. Some banks allow minors to be authorized users on their parents’ credit cards, for instance, which can help you begin to establish credit at an early age.”
}
},{
“@type”: “Question”,
“name”: “Why are credit cards so important for building credit?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Credit cards have limits based on your payment history, and how trusted you are to repay what you’ve borrowed. If you have a high credit limit and an on-time payment history, credit agencies are more likely to see you as a creditworthy borrower.”
}
},{
“@type”: “Question”,
“name”: “How does paying down my loans and credit cards affect my credit?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Paying down loan amounts and credit cards can slowly make your credit score go up, but the effects aren’t usually immediate.”
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