Private Student Loan Advice & College Financing Resources

If you’re applying for student loans, credit cards, or other financial tools for the first time, you’ve probably heard the term FICO® Score. But what does it actually mean, and why does it matter so much when you’re paying for school?

Applying for a private student loan can feel overwhelming, especially if it’s your first time dealing with things like credit, interest rates, and loan paperwork. You might be wondering how approval works, what lenders look for, or how you can improve your chances of getting approved.  The good news is that there are simple, practical steps you can take to make your application stronger from the start!  Whether you’re applying on your own or with a cosigner, preparing ahead of time can help you find better options and feel more confident in the process.  Here are seven essential tips to help you improve your private student loan application and set yourself up for success.  1. Check Your Credit Before You Apply  Your credit history plays an important role in many private student loan applications. Before you apply, take time to review your credit report and FICO® Score so you know where you stand.  Many banks and credit card companies offer free access to your score, and you can also request your credit report through Experian, Equifax, or TransUnion.   Reviewing your credit early helps you understand what’s affecting your score and where you can improve. If you’re just starting out, focus on making every payment on time, keeping credit card balances low, and avoiding maxing out your limit. Small habits like setting up autopay or paying more than the minimum when you can, can build strong credit over time and make the process feel more manageable.  2. Dispute Errors on Your Credit Report  Checking your credit is important, but accuracy matters just as much. Your credit report shows the full picture of your borrowing history, including every loan, credit card, and payment in your name. Lenders review this entire report, not just your score, when evaluating your application.   As you review it, look for anything that does not seem right, such as accounts you do not recognize, incorrect balances, or payments marked late when you paid on time.  If you find an error, take action. You can dispute inaccurate information directly with the credit bureau and the lender that reported it. Fixing mistakes early can help protect your credit and prevent small issues from affecting your approval.  3. Apply With a Cosigner When It Makes Sense  If you’re new to credit or have a limited credit history, applying with a cosigner can strengthen your application. A cosigner is someone—often a parent or trusted family member—who agrees to share responsibility for the loan.  Because many cosigners have longer credit histories, their involvement can help:  Increase approval chances  Improve interest rate options  Unlock higher borrowing limits  At Ascent, we saw 4x higher approvals offs when students apply for an Ascent loan with a cosigner*. For many students, having a cosigner is a practical way to access better loan terms while building their own credit at the same time.  Also, keep in mind that some lenders, like Ascent, offer a cosigner release which helps set students up for financial success and removes cosigner’s responsibility.  4. Borrow Only What You Need  Private student loans are usually limited to your school’s certified cost of attendance, which includes tuition, housing, meals, books, and basic living expenses. Before applying, take a few minutes to review these costs and think honestly about what you really need to cover.  A helpful approach is to start with your total school costs, then subtract any money you already have from savings, scholarships, grants, or family support. The remaining amount is often a better estimate of what you actually need to borrow.  Applying for scholarships  Completing the FAFSA (Free Application for Federal Student Aid) each year to access federal student loans and other university-based financial aid  Contacting your school’s financial aid office to negotiate your financial aid offer.  Taking advantage of on-campus work-study programs to make some money during school  Borrowing only what you need now can make a big difference later. Smaller loan balances often mean lower monthly payments after graduation and more flexibility as you start your career.  5. Show Strong Financial Habits  Lenders look for signs that borrowers can manage money responsibly. Simple habits can make a meaningful difference in how your application is reviewed.  Focus on:  Paying all bills on time  Keeping credit card balances low  Avoiding unnecessary debt  Maintaining existing accounts in good standing  These habits strengthen your credit profile over time and signal reliability to lenders.  6. Do Your Research on Loan Types  When you apply for a private student loan, you usually have the choice between fixed-rate and variable-rate loans. Understanding the difference can help you pick the option that fits your circumstances.  Variable-rate loans can go up or down over time with the market. This can save you money if you plan to pay off your loan quickly, but it also comes with more uncertainty.  Fixed-rate loans stay the same for the life of your loan, so your payments won’t change. They can give you peace of mind, but your rate won’t drop if market rates go down.  Doing a little research now can help you choose a loan type that works for you today and keeps your options open for the future.  7. Apply When You're Financially Ready Timing matters. Applying when your credit is in good shape, your cosigner is also prepared, your documents are organized, and your school information is confirmed can make the process smoother and less stressful.  Before you apply, make sure you have:  Your school and program details  Cost of attendance information  Any income documentation, if required  A cosigner lined up, if needed  Having everything ready can help prevent delays, reduce mistakes, and make it easier to get approved quickly. It also gives you a clear picture of how much you actually need to borrow so you can plan with confidence.  What If You’re Not Approved Right Away?  If your application isn’t approved on the first try, it doesn’t mean you’ve failed, and it doesn’t mean you’re out of options. Many students strengthen their applications by adding a cosigner, improving their credit, or adjusting their borrowing amount.  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.    * 4x higher acceptance rates were observed between November 2024 through January 2025 across all products when a loan application is cosigned vs without a cosigner. Ascent’s minimum credit requirements vary based on loan product, credit history, and whether you’re applying with a cosigner. You can see your rates without impacting your credit score to help you determine which product could be best for you based on your unique circumstances. 

Heading to college in 2026 is exciting, but paying for it can feel stressful, especially if this is your first time dealing with financial aid or student loans.   The good news is you don’t have to figure it all out at once. Starting early gives you a big advantage. You can find scholarships, understand federal aid, and figure out which student loan options make sense for you.  In this guide, we will walk you through tips on student loans so you know what to expect and exactly how to prepare.  Start With the FAFSA as Soon as It Opens  One of the first steps every high school senior should take, even if you plan on taking out student loans, is completing the FAFSA (Free Application for Federal Student Aid).  This form determines your eligibility for federal grants, work-study, and federal loans and many colleges and scholarships use it to award aid, too.  For the 2026–27 academic year, the FAFSA opened up on October 1, 2025, and the deadline to submit in time for most federal aid is June 30, 2027. Submitting early gives you the best chance at available grants and need-based aid, which don’t have to be repaid.   Even if you don’t think you’ll qualify for need-based aid, it’s still worth submitting. You might be surprised by what you’re eligible for, and completing it keeps your options open.  Apply for Scholarships Early and Often  Scholarships are one of the easiest ways to reduce how much you might need to borrow for college. Start looking early and check opportunities at the local, state, and national level, including awards from colleges, community groups, and employers.  Even smaller scholarships can add up fast, so don’t overlook them. And remember, Ascent also offers monthly scholarship giveaways!  For more information, check out our webinar on How to Pay for College with Scholarships, here.  Do Your Homework on Student Loan Options  We know student loans can feel overwhelming, but taking a little time now to understand your options can make a big difference later. The goal is to find a private student loan that works for your budget and your future.  Private student loans typically come in two types: fixed-rate and variable-rate:  Variable-rate loans can go up or down over time with the market. This can save you money if you plan to pay off your loan quickly, but it also comes with more uncertainty.  Fixed-rate loans stay the same for the life of your loan, so your payments won’t change. They can give you peace of mind, but your rate won’t drop if market rates go down.  Doing a little research now, comparing options, and asking questions can help you pick the loan that’s right for you. And remember, you don’t have to figure this out alone. Parents, guardians, your school’s financial aid office, and the team at Ascent can help you weigh your choices and feel confident about your decision.  Plan How Much You Really Need to Borrow  When getting ready to apply for a private student loan, plan how much you really need to borrow and only borrow what is necessary.   Private lenders limit loans to the cost of attendance, but this does not equal just tuition – this includes things like housing, textbooks, even a laptop. Your college will certify your cost of attendance when you apply and you can likely even see that when you decide to enroll at that school.  Smart budgeting can help you minimize your loan amount and avoid extra interest and repayment stress after graduation.  Consider a Cosigner for Student Loans  If you’re new to credit or have a limited credit history, applying with a cosigner can strengthen your application. A cosigner is who agrees to share responsibility for the loan, often a parent or trusted family member.   Because many cosigners have longer credit histories, their involvement can increase your chances of approval, improve your interest rate options and potentially unlock higher borrowing limits.   For many students, this is a practical way to access better student loan terms while building their own credit at the same time. Also, keep in mind that some lenders, like Ascent, offer a cosigner release which helps set students up for financial success and removes cosigner’s responsibility.  Keep Your Credit and Financial Habits Strong  If you decide to use private student loans, your credit score (or a cosigner’s score) may affect approval and interest rates. Learn how credit works, pay bills on time, and avoid opening too many new accounts too quickly. Good habits now can set you up for better borrowing terms and financial confidence later.  You’ve got this, and your financial planning now can set you up for success long after graduation!  Looking for more information? Check out our Ultimate Guide to Budgeting for College Students.  Learn More with Ascent  Navigating the student loan application process can be challenging, and Ascent is committed to providing students and families with the financial resources needed to pursue their dreams.     From financial wellness resources to our flexible private student loans and undergraduate student loans, we are here to help students and their families make informed decisions about their future in college, and beyond. 

SAN DIEGO, Feb. 19, 2026 Ascent, a leading provider of innovative financial products and student support services, today announced the successful close of its Series C funding round. Federal policy shifts that cap the amount of federal loans available for education are driving more students toward private lenders to help cover their tuition bills. The private student loan need is projected to double to $26B over the next three years, and Ascent is positioned to support these students looking to pursue their educational goals. The round was led by a global asset manager and provides the capital Ascent needs to grow its leadership team, scale its unique education financing platform and expand into critical new education verticals. Ascent has built significant momentum to meet this demand, establishing partnerships with more than 2,300 institutions and training providers, resulting in a 30% increase in loan originations year over year. Over the last decade, Ascent has disbursed over $1.5 billion in education loans to more than 168,000 families through its diverse suite of traditional college loans, including cosigned and non-cosigned options, and its industry-leading outcomes-based financing. "At Ascent, we've always believed that a student's potential shouldn't be limited by their current financial circumstances, but rather fueled by their future success," said Ken Ruggiero, Co-Founder and CEO of Ascent Funding. "As federal policies shift and traditional funding gaps widen, our mission to offer financing for traditionally overlooked and underserved individuals and families so they can gain access to post-secondary education and build a foundation for durable economic mobility has never been more important. This new capital will allow us to double down on our goals, providing students with the funding they need to invest in their future." Ascent is grounded in delivering innovative financing alongside a culture of respect, dignity, and personalized financial education and support, equipping students with the tools and confidence to succeed. This funding allows Ascent to continue to bring innovative products to students: Graduate Outcomes Based Loan Product — As federal policy shifts make graduate school harder to access, many qualified learners are at risk of being left behind. Ascent is committed to changing that through its continued focus on Outcomes Based Lending and bringing this solution to graduate students by evaluating each student's expected post-graduation earning potential, not just their current credit profile, to offer loans that they can afford to pay back post-graduation. Aviation Loan Program — Flight training tuition and expenses often exceeds $100,000 and are frequently ineligible for federal aid, leaving aspiring pilots with limited financing options. Ascent's Aviation Loan program is designed around early-career aviation pathways, evaluating students based on expected starting income rather than current credit history or cosigner access. The initiative builds on Ascent's established track record supporting skilled trades such as electrical lineworkers, welders, and healthcare professionals. Grad School Loan Calculator — A proprietary interactive digital tool that provides immediate clarity on the cost of advanced degrees. The calculator allows students and financial aid officers to model the total cost of attendance and the need for private student loans vs. federal loans, helping borrowers assess funding needs against future earning potential rather than traditional credit constraints. Ascent's growth is anchored by a team that understands both the complexity of student financing and the real lives behind every application. With this new funding, Ascent is announcing several leadership appointments to support its next phase of growth:  Ryan Gray, has been appointed Co-President and will oversee Finance, Capital Markets, Credit & Analytics, Technology, Operations and Human Resources. Tristan Fleming, has been appointed Co-President and will lead Sales & Marketing, Product, Impact, and Legal & Compliance. "Ryan Gray and Tristan Fleming have been instrumental to Ascent's growth for the last 10+ years and are widely respected leaders in education finance," said Ruggiero. "Their new roles position Ascent to accelerate innovation, bring new products to market faster, and respond to the evolving needs of students and schools." Along with a strong team of more than 120 professionals headquartered in San Diego, Ascent will continue to differentiate itself from traditional lenders by partnering closely with institutions and families, combining flexible financing with practical financial wellness support. This relationship-driven approach enables Ascent to scale across diverse markets while advancing our mission to increase borrower income by $10 billion by 2028, as well as remain focused on serving credit-invisible borrowers who are often overlooked by traditional credit models. TD Securities served as exclusive placement agent for Ascent on the Series C financing, and Cooley served as legal advisor to Ascent. For more information about Ascent's innovative financing and student success initiatives, 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.  For more information, visit www.ascentfunding.com.

Higher education is in the midst of a major transformation, and so is how students pay for it. Drawing on Ascent’s proprietary data and leading third-party research, The Future of Student Loans: 2025 Trend Report uncovers how today’s students are making financial decisions, what’s driving their stress, and the innovative ways they’re using scholarships, grants, and digital tools to chart smarter, more confident paths to graduation. Financial Confidence Remains Limited:   For many students, college isn’t just an academic challenge; it’s their first major financial one. Between managing tuition, rent, and daily expenses, students are being asked to make high-stakes decisions for the first time, often without the financial literacy or guidance to support them. This uncertainty affects everything from the schools they choose to the confidence with which they step into their careers. Students don’t just need funding; they need a financial playbook. Only 26.5% of students feel very confident managing their personal finances. 1 in 3 say financial concerns have a major influence on their academic or career decisions. 31% say better access to scholarship tools and guidance would help build financial confidence. Students are signaling a clear need: education about money and everyday finances is just as important as education funded by it. Paying for Tuition Is the Top Concern:  The cost of a degree continues to define and often limit students’ choices. With tuition rising faster than wages, students are getting increasingly resourceful, combining grants, scholarships, and side hustles to make it all work. But despite their creativity, the numbers make one thing clear: paying for college remains a heavy emotional and financial lift. Nearly half (49.2%) say paying tuition or fees is their biggest financial concern. 25.9% cite finding enough scholarship or aid as their next biggest challenge. 47% rely primarily on scholarships or grants to fund their education or manage debt. However, these funds are often limited, making it difficult for many students to cover their costs fully. In fact, just 0.1% of students receive full-tuition awards. In short, while the dream of higher education remains strong, the price tag attached to it continues to be students’ biggest barrier, both financially and emotionally. First-Generation Students Face Higher Financial Stress:  For first-generation students, the path to college often represents a family milestone, but also a heavier financial burden. Without the safety net of experience or inherited guidance, they’re navigating a system designed for those who already know the rules. Even with more grant support, many first-gen students still turn to loans and credit cards to bridge the gap. In Trellis’ 2023 Student Financial Wellness Survey, 38% of respondents identified as first-generation students (n=19,634). This includes 41% at two-year institutions and 35% at four-year institutions. 68% worry about paying for school, and 24% are unsure how they’ll afford their next semester. They’re more likely to receive grants (66% vs. 48%), but also more likely to take out loans (40% vs. 33%) or use credit cards for college costs (35% vs. 28%). The data highlight a persistent challenge: even with more grant support, first-generation students are still taking on more debt than their peers, reflecting the additional hurdles they face when navigating college finances without a family safety net. Student Engagement With Financial Wellness Content Is High:  Students are craving clarity, and they’re finding it in financial wellness content. As they move through the application process, many are actively seeking out education around repayment, budgeting, and long-term planning. The demand points to a new kind of student mindset: one that values proactive financial learning as much as academic success. 1 in 4 users (24%) who interact with Ascent chatbots during the application process seek out financial wellness (FinWell) content. Students are 3x more likely to explore FinWell content during the application process than from their student account homepage (24% vs. 7%). This indicates that students are curious and actively seeking to educate themselves before taking out a loan, and are more often thinking about repayment when they do. Repayment plans are the most explored topic, accounting for 35% of all engagement and climbing steadily. This surge in engagement shows that students want to borrow wisely, understand how loans work, see how repayment fits into their budgets, and grasp what borrowing means for their long-term financial well-being. Ideally, they are more likely to carry that awareness into their repayment plans. Loan Requests Are Increasing, With Popular Majors Emerging:  With college costs on the rise, student loan borrowing continues to increase. The story isn’t just about borrowing more, it’s about borrowing with purpose. Students are increasingly pursuing majors that align with stable, career-driven fields, signaling a pragmatic shift toward education as an investment in employability. The top five majors among approved borrowers are Nursing, Business, Biology, Psychology, and Mechanical Engineering. Students are making strategic choices and leaning into fields that promise stability, skill demand, and a clearer return on their educational investment. Conclusion: The Path Forward As the cost and complexity of higher education continue to rise, one thing is clear: today’s students are more resourceful, informed, and determined than ever. They’re seeking smarter, more sustainable ways to fund their education by leveraging digital tools, exploring scholarships, and redefining what financial wellness looks like. Looking ahead, the next era of student finance will be defined by personalization and empowerment. Students want guidance that’s as dynamic as their goals. This means giving them real-time insights, proactive support, and funding models that evolve with their needs. The institutions, lenders, and leaders that step up to meet them with transparency, technology, and trust will not only help them reach graduation but also set the foundation for lifelong financial wellness and success.

For nearly twenty years, the Grad PLUS loan program has been a major pillar of federal financial aid for graduate and professional students. These loans allowed students to borrow beyond traditional federal limits and cover their full cost of attendance, including tuition, housing, books, and living expenses. For many, Grad PLUS was the bridge that made graduate school financially possible.  However, starting July 2026, new Grad PLUS loans will no longer be available under the One Big Beautiful Bill (OBBB) Act.   This pivotal change raises a central question: What will the end of Grad PLUS loans mean for the future of graduate education?  While the full impact remains to be seen, one word comes to mind: opportunity. Opportunity to innovate, rethink graduate funding, and build smarter, more sustainable solutions for students and institutions alike.  What’s Changing: New Federal Limits   Under the new law, federal borrowing for graduate students will be capped:  Graduate (Academic) Programs: $20,500 annual limit, $100,000 lifetime maximum  Professional Programs (Law, Medicine, etc.): $50,000 annual limit, $200,000 lifetime maximum.  Borrower Category Pre-OBBBA Limit New OBBBA Limit Undergraduate Stafford (Dependent) $5,500 - $7,500 per year; $31,000 aggregate Unchanged Undergraduate Stafford (Independent) $9,500 - $12,500 per year; $57,500 aggregate Unchanged Parent PLUS (Parents of Undergrad) Full Cost of Attendance $20,000 per year; $65,000 aggregate per student Graduate Stafford (Masters/PhD/MBA) $20,500 per year; $138,500 aggregate $20,500 per year; $100,000 aggregate Graduate Professional Stafford (MD/JD/DDS) $20,500 per year; $138,500 aggregate $50,000 per year; $200,000 aggregate Graduate Grad PLUS Full Cost of Attendance Eliminated All Federal Loans Combined No lifetime cap $257,500 lifetime cap  Previously, Grad PLUS loans allowed students to borrow beyond federal limits, filling gaps left by Direct Unsubsidized Loans. Once the program is phased out, students will need to explore other options, such as private loans, scholarships, or institutional aid, to fund their education. Financial aid offices will be crucial partners in helping students navigate these choices and stay on track with their goals.  A Brief Look Back: Grad PLUS and Its Impact  Grad PLUS loans weren’t just widely used; they shaped graduate education. While only 16% of graduate students rely on the program, Grad PLUS accounted for 32% of all federal graduate lending, showing just how central it became in helping students pursue advanced degrees. These loans were especially common in high-cost programs, with nearly a quarter of students in programs costing $25,000 to $70,000 using Grad PLUS, and that share rising to 30% for programs above $70,000, according to a 2024 report from the Georgetown University Center on Education and the Workforce.  Beyond helping students, Grad PLUS also influenced institutions. The availability of additional federal funds allowed schools to expand programs, support student opportunities, and invest in resources. However, research suggests that tuition increases sometimes offset the benefits of increased federal lending. Today, according to recent federal data, about 1.8 million borrowers hold Graduate PLUS loans totaling approximately $119.2 billion in debt, a scale that demonstrates the program’s significance and the magnitude of this transition.  What’s Next: A New Era in Graduate Funding  With Grad PLUS loans being phased out, graduate education is entering a new era, one that calls for creativity, collaboration, and thoughtful planning.  For Students  For students, this shift requires the exploration of a broader mix of funding options. Scholarships, grants, and institutional aid will play an increasingly central role in covering costs, while private loans can provide flexible solutions to bridge any gaps. Engaging early with financial aid offices can help students build a comprehensive plan, minimize uncertainty, and feel more confident about their financial path through graduate school. Thoughtful planning now can reduce stress later and ensure students can focus on their studies and career goals without unexpected financial obstacles.  For Institutions  The end of Grad PLUS loans is prompting schools to rethink how graduate programs are funded. Hybrid approaches that combine scholarships, grants, and external funding can help students cover high-cost programs without relying on a single source of support.  Institutions are also exploring ways to make aid more flexible and targeted, from directing resources where they’re most needed to offering modular programs or tuition schedules that let students progress at their own pace.  Partnerships with private lenders can further support students, offering customized loan programs, streamlined processes, and flexible repayment options. Some lenders provide resources beyond financing, such as career readiness tools, coaching, and internship opportunities, to help students graduate on time and launch successful careers.  By combining these strategies, schools can create funding systems that are clear, manageable, and tailored to student needs, helping students navigate the post-Grad PLUS world with confidence.  For Private Lenders  As federal aid changes, private lenders can play a key role in supporting the graduate funding landscape post-Grad PLUS. Thoughtful partnerships open the door to solutions like customized loan programs, flexible repayment options, and streamlined processes that reduce administrative hurdles. Many lenders also provide additional support, offering resources including financial wellness tools, career readiness programs, and internship opportunities to help students successfully complete their programs and transition into their careers.  When considering private student loans, it’s important to choose a lender that’s transparent about rates and fees, offers flexible repayment options, and provides responsive support throughout your borrowing journey. Look for lenders who prioritize student needs, allow for cosigner release, and offer benefits like autopay discounts or hardship protections. Avoid companies that aren’t upfront about terms or make unrealistic promises, and always research reviews to ensure you’re partnering with a trustworthy lender who will support your goals from enrollment to repayment.  Check out our Guide to Choosing the Best Private Lender here, for more information.   Final Thoughts  The end of Grad PLUS is a moment for all stakeholders to think strategically, plan proactively, and embrace flexible solutions. With careful planning, collaboration, and thoughtful use of available resources, the post-Grad PLUS world can be a time of smarter, more sustainable funding that helps students pursue their education and institutions maintain vibrant, accessible programs with student success at their forefront.  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. 

With Grad PLUS loans ending for new borrowers in July 2026, the private loan market for grad students has shifted fast. Lenders are competing harder for your business, rates vary widely based on your credit, and you've got more options than ever if you know where to look.

With Grad PLUS loans being phased out, graduate students and schools are facing new choices and considerations. While this transition brings some uncertainty, it also opens the door for schools to find new ways to guide and support students as they plan for their educational future.

Graduate funding is changing fast, and schools have an opportunity to rethink how they support students. With the end of Grad PLUS loans under the One Big Beautiful Bill (OBBB) Act, institutions will need to explore new ways to help students cover the cost of high-cost programs like law, medicine, and business. These shifts open space for innovation, helping schools expand access and showcase the value of their programs.

The elimination of Grad PLUS loans will fundamentally reshape how graduate students finance their education, challenging both access and affordability. Financial aid offices must proactively adapt policies, train staff, and guide, students to navigate a more complex funding system. 

Whether you're currently in school, preparing to start, or managing your loan repayment, Ascent provides practical tools and insights to help you make informed financial decisions with confidence. Paying for college can be confusing, especially with all the recent changes to financial aid and student loans. To help make things a little clearer, we partnered with Mission Federal and the University of San Diego to host “Understanding Student Loan Changes Amidst Uncertainty,” a webinar designed for students and families.   Ascent’s SVP and GM of AscentUP, Allie Danziger, Mission Fed's VP of Marketing and Community Relations, Neville Billimoria, and University of San Diego’s Director of Financial Aid, Kellie Nehring, shared helpful advice on FAFSA updates, scholarships, student loans, and how to plan for different college paths, whether that’s a four-year university, a community college, or something in between.  If you missed the webinar, no worries! You can watch it here but we’ve also summarized the learnings below.   Changes to Federal Loan Policy  Big shifts are on the horizon—new federal policy changes are set to reshape repayment, forgiveness, and loan eligibility in ways that every student and family should know about.  Starting July 1, 2026, federal loan regulations will undergo major updates that will directly impact how students and parents pay for college, beginning with the 2026–2027 academic year. Graduate students will no longer be able to borrow Grad PLUS Loans, a change that could make financing advanced degrees more challenging. For undergraduates, Parent PLUS Loans will still be available, but borrowing will be capped at $20,000 per year—posing funding gaps for families at higher-cost schools while having less effect at more affordable institutions. The good news? If you’re starting school this Fall and plan to use Grad PLUS or Parent PLUS Loans, your borrowing won’t be affected for the upcoming academic year. Still, these upcoming changes are prompting schools to explore creative solutions, from expanding institutional loan options to connecting families with private lenders. For students and parents alike, understanding these shifts early is key to preparing for the future of college financing.  Parent PLUS Loans have unique repayment rules that families should understand before borrowing. Eligibility requires a credit check, and repayment begins just 60 days after the second disbursement, often during the spring semester of a student’s first year. These payments cannot be deferred until six months after graduation, meaning parents may need to start making payments while their student is still in school. International students aren’t eligible for federal aid, but they may still qualify for other financial aid programs and resources.  Guidance for Navigating Student Loans  As you plan for the road ahead, it’s important to understand the key details of student loans to stay informed and make confident financial decisions.  Completing the Free Application for Federal Student Aid (FAFSA) each year is the first and most important step in determining your eligibility for federal financial aid. Depending on your situation, you may also need to fill out an institutional or state application to maximize your options. For many students, federal loans will play a key role: subsidized loans are need-based and don’t accrue interest while you’re in school, as long as your Student Aid Index is lower than your school’s cost of attendance. On the other hand, unsubsidized loans begin accruing interest right away, though repayment is deferred until six months after graduation or withdrawal. Once repayment starts, it’s critical to stay on track—missing payments, even during forbearance, can create lasting challenges. Remember, you’ll be repaying the loan servicer that manages your account, so building good habits now will set you up for success after graduation. The good news is that repayment plans can be tailored to your income, giving you some flexibility as you begin your career.  Federal student loan interest rates typically shift by about 5–10% each year and reset every July 1st for the upcoming academic year. In contrast, private lenders adjust rates which can make them more competitive depending on the market.   Ascent offers low rates and multiple benefits that help students plan, pay, and succeed in college. Our borrowers also receive access to our AscentUP program which provides tools, resources, and coaching, as well as access to paid internship opportunities, to support students on professional development, building confidence, developing new skills, and jumpstart dream careers.  More Ways to Pay  Beyond student loans, there are several ways to help make college more affordable.  Campus jobs offer flexible hours and valuable experience, often available through the financial aid office, athletics department, or housing office. If you qualify, federal work-study can provide an added chance to earn money while gaining valuable experience. The key is to explore these options early at the schools you’re considering, so you can combine resources and create a strategy that makes paying for college feel more manageable.  When it comes to paying for college, scholarships are the ultimate win— it’s free money you never have to pay back. There are scholarships out there for nearly everything—academics, athletics, leadership, volunteering, unique hobbies, and even your favorite ice cream flavor. The more you apply for, the more chances you have to stack up real savings. For students 14+, Ascent offers no-essay scholarships! Check out the latest opportunities and enter to win here!  As you navigate paying for college, remember that you don’t have to do it alone—your school’s financial aid team is there to support you. Whether it’s asking about scholarships, staying on top of deadlines, appealing for additional aid, or finding out who to contact about repayment options, reaching out early can make a huge difference. Building a relationship with the financial aid office not only helps you avoid frustration and discouragement but also ensures you have a trusted resource to turn to whenever questions come up. Don’t hesitate to ask plenty of questions, seek advice, and lean on the broader network of support around you. By gathering input from multiple sources and staying connected, you’ll be better equipped to make confident, informed decisions about your financial journey!