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Ascent puts you and your family first.

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Cosigner release option

Build credit in your own name and apply to release your cosigner after making 12 payments on-time or an equivalent amount and meeting additional eligibility criteria.

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Flexible payment options

Choose from affordable fixed or variable rates, customize your repayment terms, and pay off your student loan with a cosigner early and without penalties.

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Benefits that put you first

Cover up to 100% of your attendance costs. Plus, you can get 1% cash back and a discount if you set up automatic payments.

Student loans with a cosigner:

How they work

Check your pre-qualified rates without impacting your credit score.

4 simple steps and NO application fees.

Getting your cosigned student loans shouldn’t be complicated. From your first application to your final payment, we’re committed to helping you every step of the way.

  • See your pre-qualified rates
  • Customize your cosigned student loan
  • Upload your documents
  • We fund the loan to your school

FAQs about cosigned student loans

When do I need a cosigner for a private student loan?

Applying for a private student loan typically requires that you meet certain credit score and income requirements. But, as a student, you may not qualify for a loan in your own name or for the amount you need to cover all your expenses. That’s the time to consider applying for a student loan with a cosigner who takes on the obligation to make payments in case you fall into financial hardship.

You can apply to release your cosigner after making twelve (12) consecutive full principal and interest payments on-time or an equivalent prepayment amount while also meeting the other eligibility criteria to qualify including, but not limited to meeting certain minimum credit and income requirements and completing a Cosigner Release application. See full eligibility criteria requirements here. With Ascent loans, you can request to release your cosigner directly with Launch Servicing.

Note: The option to apply to release the cosigner is only available to student borrowers who are U.S. citizens or have U.S. permanent resident status or DACA students and is not available to students who are not U.S. citizens or U.S. permanent residents.

What are the benefits of a student loan with cosigner?

Choosing a private student loan with a cosigner may offer a number of benefits when payments are made on time, including

  • Build credit for your future after you graduate.
  • Establish good credit for your cosigner.
  • Qualify for competitive interest rates on other loans.

Even if you have a cosigner, you can apply to release your cosigner after making twelve (12) consecutive full principal and interest payments on-time or an equivalent prepayment amount while also meeting the other eligibility criteria.

Who can cosign a student loan?

A cosigner agrees to become legally responsible to make your student loan payments if, for whatever reason, you are unable to in the future, so it’s important to choose someone who is reliable and meets the eligibility requirements.

Here are a few common types of cosigners:

  • A parent or legal guardian
  • Aunt, uncle, or other relatives
  • Friend (or spouse if you are married)
  • Mentor

What is a cosigned student loan?
A cosigned student loan is a student loan that you take out with the help of a creditworthy person. If you have no credit or bad credit, a cosigner with a good credit record may lower the interest rate of your student loan and allow you to choose better terms.

A cosigner agrees to take equal responsibility for the college loan. This means that if the student borrower is not able to make the payments, the cosigner is still legally obligated to pay the loan. Either party can make the required monthly payments.

What are the requirements to cosign a student loan?
The cosigner on a student loan must:

  • be a U.S. citizen or have a U.S. permanent resident status
  • have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your borrower.

Choose from affordable fixed or variable rates

Ascent offers credit-based private student loans with a cosigner at competitive rates.

Fixed APR

4.12% - 14.27%*

  • You make the same payment every month
  • Your interest rate is set the day you apply, and doesn’t change
Variable APR

3.04% - 11.55%*

  • Your payment may be more or less each month
  • Your interest rate may vary with market conditions

*Rates displayed above are effective as of 10/01/2022 and reflect an Automatic Payment Discount of 0.25% (for Credit-Based Loans). For more information, see repayment examples and review the Automatic Payment Discount Terms and Conditions.
Lowest APRs require interest-only payments, the shortest loan term, and a cosigner, and are only available to our most creditworthy applicants and cosigners with the highest average credit scores.

More ways to customizeyour private student loan without a cosigner

Repayment Terms
Flexible 5, 7, 10, 12, or 15-year repayment terms.
There’s no penalty for early repayment.
Repayment Options

  • Deferred Repayment: Start payments up to 9 months after leaving school.
  • $25 Minimum Repayment
  • In-School Interest-Only Repayment
    See repayment examples »

Discounts

  • 0.25% Automatic Payment Discount  applied when eligible borrowers are making automatic payments on their Ascent cosigned credit-based student loan via auto-debit from their personal checking account.
  • 1% Cash Back Graduation Reward upon satisfaction of certain terms and conditions.

Loan Amounts

  • Minimum: $2,001
  • Maximum (aggregate): $200,000 for Undergraduate Loans; $400,000 for Graduate Loans

Tips & tools for financial success

Don't lose your financial freedom before you have the chance to earn it! To help you borrow responsibly, we incorporate financial wellness into our application process and give you exclusive access to tools and content to help you get set for greater financial success. Financial Wellness Tips

Have questions about our cosigned credit-based private student loans?We’ve got answers.

From your first application for a private student loan with a cosigner to your final payment, we’re committed to helping you every step of the way. Our 100% U.S.-based Ascent Customer Service team is here for you.


Can I eventually remove the cosigner from my loan?
Yes. You can apply to release your cosigner after making twelve (12) consecutive full principal and interest payments on-time or an equivalent prepayment amount while also meeting the other eligibility criteria to qualify including, but not limited to meeting certain minimum credit and income requirements and completing a Cosigner Release application. See full eligibility criteria requirements at AscentFunding.com/BorrowerBenefits. The student borrower must make the request to release a cosigner directly with Launch Servicing or the loan holder.

Note: The option to apply to release the cosigner is only available to student borrowers who are U.S. citizens or have U.S. permanent resident status or DACA students and is not available to students who are not a U.S. citizen or U.S. permanent resident.

What are the eligibility requirements for the Ascent Cosigned Credit-Based Loan option?

  • Ascent considers several factors which may include: creditworthiness, school, program, cost of attendance, GPA, and other factors.
  • Ascent loans are for college students (both undergraduate and graduate) who are at least half-time enrolled in a degree program at an eligible institution.
  • Cosigner must be a U.S. citizen or have a U.S. permanent resident status.
  • Students may apply without a cosigner if they are a U.S. citizen or have U.S. permanent resident or Deferred Action for Childhood Arrival (DACA) status.

What are the Ascent credit requirements for the Cosigned Credit-Based Loan option?
Ascent’s credit decisioning criteria is proprietary and subject to change, but you can check what rates you pre-qualify for in just four (4) steps without impacting your credit score. We consider credit history and several other factors including, but not limited to, credit score:

 

Cosigned Credit-Based Loan

    • Student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner.
    • Cosigners must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your borrower.

What are others saying about Ascent?

Win Money for School

Every year, Ascent awards over $80,000 in scholarships for college and bootcamp students.

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