What is Ascent’s interest rate?

Ascent’s college loans are offered with a variable interest rate OR a fixed interest rate option.

• Variable Rate: A variable rate means your actual interest rate could be lower or higher during your loan term than the rate you are given while completing the loan application.
• Fixed Rate: A fixed rate means your interest rate will not increase or decrease while you are making monthly payments until your loan is paid in full. It will stay the same for the life of the loan.

Choosing a fixed rate versus a variable rate is entirely up to you but be sure to do your research beforehand on what will be the best fit for your journey to financial wellness. Ascent’s credit decisioning criteria is proprietary, but you can check what rates you pre-qualify for in just four (4) steps without impacting your credit score.

• The interest rate is based on a number of factors and may be lower for a Cosigned Credit-Based Loan compared to a Non-Cosigned Outcomes-Based Loan.
• You will know your exact interest rate percentage (for a fixed rate loan) after applying and selecting a repayment option.
• Applicants must select an interest rate option prior to accepting the loan offer.

Borrowers are eligible to receive an Automatic Payment Discount of either 0.25% for credit-based college student loans if the loan application was submitted prior to 06/01/2025, a 0.5% discount for credit-based college student loans if the loan application was submitted on or after 06/01/2025, and a 1.00% discount for outcomes-based college student loans which is applied when eligible borrowers are making automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. Borrowers will lose this benefit after two (2) non-sufficient funds payments, until they re-qualify and re-enroll in automatic payments. (See Ascent’s Automatic Payment Discount Terms & Conditions.)