What are my Ascent college loan repayment options and terms?
Please see Ascent’s repayment examples for undergraduate students and repayment examples for graduate students.
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- You may be eligible for the following repayment options if you:
- Apply with a cosigner; (or)
- Apply without a cosigner and have more than two (2) years credit history, meet the minimum credit score, are prequalified, and have a minimum gross annual income of $30,000
- Interest-Only Repayment: The Interest-Only Repayment option requires that while the student is enrolled at least half-time at an eligible institution, and during the Grace Period, the borrower will pay at least the interest that accrues on the loan each month. Upon graduation or if no longer enrolled at least half-time, the borrower will make full principal and interest payments for the remaining term of the loan.
- $25 Minimum Repayment: The $25 Minimum Repayment option requires that while the student is enrolled at least half-time at an eligible institution, and during the Grace Period, the borrower will pay a monthly payment of at least $25. Upon graduation or if no longer enrolled at least half-time, the borrower will make full principal and interest payments for the remaining term of the loan. Any unpaid interest will accrue and capitalize upon entering full principal and interest repayment.
- Deferred Repayment: The Deferred Repayment option allows for the borrower to postpone principal and interest payments on the loan while the student is at least half-time enrolled at an eligible institution. Interest accrues during this in-school period and is capitalized upon entering repayment. Repayment begins once the grace period ends, after the student ceases to be enrolled at least half-time at an eligible institution (either by graduation or otherwise). The in-school and grace period varies depending on the Ascent loan type as indicated below:
| Ascent’s College Loan Type | In-School Period | Grace Period |
| Undergraduate | Up to 60-months | 9-months |
| Graduate – Medical | Up to 48-months | Up to 36-months |
| Graduate – Dental | Up to 48-months | 12-months |
| Graduate – Other (MBA, Law, Health Professionals, Nursing Pharmacy, MA, MS, PhD, etc.) | Up to 36-months | 9-months |
- Terms: Flexible 5-year, 7-year, 10-year, 12-year, 15-year or 20-year repayment terms may be available depending on the loan options you select. There’s no penalty for early repayment. Ascent borrowers who choose a loan term of 20 years WILL ONLY receive a variable interest rate. For certain loans with low balances, the minimum monthly payment amount may cause the loan amortization schedule to be less than the selected term.
- You may be eligible for the following repayment options if you:
- Apply without a cosigner and DO NOT meet the current income or credit requirements
- Upon graduation or if you're no longer enrolled at least half-time in school, you may be eligible to customize your repayment plan with the Progressive Repayment option. Ascent’s Progressive Repayment option helps make payments more affordable for students who are making payments on their Ascent loan upon graduation or are no longer enrolled at least half-time. If you submitted an Ascent college loan on or after 05/17/2019, you may be eligible for Ascent’s Progressive Repayment option allowing you to reduce your current monthly payment that would gradually increase over time so that the loan would be fully paid off within the original loan term.
- Immediate Repayment: The Immediate Repayment option allows for the borrower to begin making full payments (principal + interest) on the loan right away. Payments of principal and interest begin 30 to 60 days after the loan is disbursed. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. (See Terms & Conditions.)
