Ascent Blog: Tag: private student loans no cosigner

Bag of money

Time’s Ticking! ⏰ Take advantage of new lower rates on college student loans from 3.79% to 15.86% APR*

Apply Now

*Annual Percentage Rate; See rates and repayment examples
{ “@context”: “”, “@type”: “FAQPage”, “mainEntity”: [{ “@type”: “Question”, “name”: “How does student loan deferment work?”, “acceptedAnswer”: { “@type”: “Answer”, “text”: “Student loan deferment allows you to temporarily stop making payments on your student loans for a certain period. Deferment can greatly benefit students who need extra time after graduation to find a job and start earning money to cover their bills. However, there are a few things to keep in mind. For example, interest may still accrue when you opt for deferment on your federal or private student loans, which means your loan amount will continue to increase when you’re not making payments. However, some federal student loans won’t accrue interest during the deferment period.” } },{ “@type”: “Question”, “name”: “Should you defer your student loan payments?”, “acceptedAnswer”: { “@type”: “Answer”, “text”: “While we encourage all students to make payments on their student loans while in school, we know it isn’t an option for all students. If you attend classes at least half-time, deferring your payments until after graduation is a common option some students can leverage. Even though interest accrues during this time, some students still opt to make interest-only payments while in school to slowly chip away at their overall loan balance, without the pressure of having to make a payment. Some lenders like Ascent may allow you to make payments even if you select a deferred repayment plan.” } },{ “@type”: “Question”, “name”: “Does deferment hurt your credit?”, “acceptedAnswer”: { “@type”: “Answer”, “text”: “Short answer — No. A deferment is not reported to the major credit bureaus, giving you a little financial elbow room while you get back on solid ground. Get familiar with the terms of your loan and reach out to your loan servicer to ask as many questions as you need to feel comfortable making payments. Many lenders offer financial counseling to help you enter repayment successfully.” } },{ “@type”: “Question”, “name”: “How long can you defer student loans?”, “acceptedAnswer”: { “@type”: “Answer”, “text”: “You may be wondering — When does student loan deferment end? Federal student loans can be deferred for up to 36 consecutive months — or three straight years. Again, the federal government may step in from time to time to pause payments for these loans, but this is the timeline you’ll want to keep in mind. Private lenders have different rules and benefits for their borrowers, which is why it’s important to be as proactive as possible and reach out to understand your repayment options.” } }] }