Pay for Career Training with an Ascent Loan

Ascent is a leading provider of innovative financial products and student support services that enable more students to access education and achieve academic and economic success.

Here are the most common career training programs payment options:

^*Not an available option through Ascent.

Loan Financing – A loan involves borrowing money upfront to cover your program costs, then paying it back over time plus accrued interest. It typically covers the program’s tuition and sometimes your cost of living as well.

Payment Upfront^* – This option entails paying your full tuition amount upfront. Some schools may give a tuition discount for this payment option.

Payment Plans^* – This option allows you to break up your tuition amount into smaller monthly payments, typically over 12 months. There may be a service fee to choose this option.^*

Scholarships – Many career training programs and organizations award scholarships to students that do not need to be paid back. Ascent’s scholarship giveaways may help cover the cost of your school-related expenses – including tuition, books, rent, groceries, parking and transportation, and more, as well as other monthly bills and purchases.

For more detailed information on your payment options, visit the website of your top schools for more info and download our free PDF guide to choosing a career training programs.

No, they’re consumer loans to help pay for tuition at our partner schools.

There are several key differences, and we encourage applicants to perform their own research into this topic. However, some of the high-level differences between an Ascent consumer loan for career training programs and a private student loan include:

• For private student loans, interest paid may be tax-deductible. For consumer loans for career training programs, interest is not tax-deductible. Please consult your tax advisor to determine if this applies to you.
• Consumer loans for career training programs may be treated differently in the event of a borrower bankruptcy.
• Private student loans may typically only be used for qualified education expenses as defined by the IRS.

To see the status of your career loan application, visit your Ascent dashboard at Career.AscentFunding.com or call Ascent at 877-216-0876. We’ll also send you emails throughout the process to keep you updated. You can save your progress in the application and return to it at any time.

• You will be charged a one-time origination fee of 5.0% of your loan amount for an Ascent career loan. This will be added to the amount you borrow and is included in the total loan principal amount you finance. It helps cover the administrative fees associated with originating the loan. It is the only fee charged for taking out this loan, and it is factored into your loan’s Annual Percentage Rate (APR).
• For Ascent’s Zero Percent Loan (available at certain schools), you will not be charged an origination fee.

We generally send, or “disburse”, your funds two to three weeks after your program starts. However, some schools follow different schedules. You’ll be informed of the exact date during your loan application process, and your school will be informed as well. We work closely with your school throughout the process. On disbursement day, tuition is sent to your school.

Depending on your school and program, you’ll have the choice between several repayment plans. Your repayment plan will determine how and when you’ll repay your loan.

• Interest-only repayment: You’ll start making interest-only payments roughly one month after your program begins. Three months after your program ends, you’ll start making full payments (interest + principal).
• Minimum repayment: You’ll start making minimum payments while you’re in school and for three months after. You’ll start making full payments (interest + principal) roughly three months after your program ends.
• Immediate repayment: You’ll start making full payments (interest + principal) roughly one month after your program starts.

No, with Ascent’s career training loans, you will not incur any fees or penalties if you prepay your loan (either in whole or in part) before the repayment term ends.

Ascent’s application process is designed to help students apply for a career training loan and check their rate without impacting their credit score in less than 10 minutes. We will then work to process your loan application quickly and efficiently but will need your help to speed the process along. Be sure to check your email and respond to requests for additional information from the Ascent team.

You have several monthly payment options, including automated payments. After you are approved for a loan, we’ll help you set up your repayment account with our loan servicer. Launch Servicing is the loan servicer for Ascent’s career training loans. Our servicers send your statements, process payments, and help you with any payment questions. To pay your loan or ask questions about an existing loan, visit AscentFunding.LaunchServicing.com or call 877-209-5297. Download the AscentConnect app to manage your payments and stay up to date with your loan balance.