Ascent student loans are more accessible than most, but there are still specific requirements that prospective borrowers must meet to qualify for a loan. The following criteria apply to all student loan applications:
- Must be at least 18 years old, except for 19 years of age in Alabama and Nebraska and 21 years of age in Mississippi or Puerto Rico.
- Must be a permanent resident in the U.S, a U.S. citizen, or have approved DACA status
- If you are not a U.S. citizen or permanent resident, you must have a co-signer that is
- Must be in an approved institution for at least half-time
If you apply for a student loan with a co-signer, the following criteria apply:
- Co-signer must have a minimum annual income of $24,000
- Co-signer requires over two years of credit history
If you apply for a loan without a co-signer:
- If you are applying for a credit history, you will be subject to a credit check
- If you have no credit history, you must be in a junior or senior class and maintain a GPA of at least 2.9
Ascent offers student loans of between $2,000 and $200,000, and the company has agreements in place with over 2,500 schools around the country. The APR rates on Ascent non-co-signed loans are pretty high as they reflect the extra risk in providing loans to those without co-signers or credit history.
Ascent’s loan terms are readily available for review. The APRs offered are on the high side, but the loans are offered to those who otherwise may struggle to get financing. Key figures are:
- Fixed APR – 4.12% to 14.75%
- Variable APR – 3.04% to 13.30%
- Minimum loan amount – $2,000
- Maximum loan amount – $200,000
Five repayment terms are available for Ascent student loans, varying from five to fifteen years. Ascent is one of the market leaders regarding grace periods, offering nine months post-graduation before borrowers must make payments.
