When do payments begin?
- If you choose the Deferred Repayment plan, you will not be required to make payments until your grace period ends. The first payment due is typically thirty (30) to forty-five (45) days thereafter. 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 grace period varies depending on the Ascent college loan product:
- 9-month grace period for Ascent Undergraduate, MBA, Law, and Graduate and Health Professionals Loans.
- 12-month grace period for Ascent Dental Loans.
- Up to 36-month grace period for Ascent Medical Loans.
- If you choose the “Interest-Only” or “$25 Minimum” repayment plans, the first payment due is typically thirty (30) to forty-five (45) days after the first disbursement on the loan. (See FAQ, “What are my Repayment Options and Terms?”)