Ascent Funding Announces Record-Breaking Enhancements to Expand Access for College Students

SAN DIEGO, July 8, 2021 /PRNewswire/ -- Ascent Funding, named Best Private Student Loan of 2021 by Forbes Advisor and NerdWallet, announces major enhancements to its award-winning loan options to become the leader in outcomes-based lending.

Ascent's July 2021 enhancements include:

• Rates as low as 1.82% with automatic debit discount (some of the lowest in Ascent's history - see rates).
• Expanded eligibility for Deferred Action Childhood Arrival (DACA) students without a cosigner (for college and bootcamp loans).
• More repayment options than other lenders with a newly added 15-year fixed loan option. Ascent now offers 5, 7, 10, 12, 15, and 20-year repayment terms based on loan type.
• Ascent's mobile-friendly application process incorporates financial wellness and allows borrowers to see their rates in as little as three minutes without impacting their credit score.
• 1.00% discount for students who enroll in automatic payments with Ascent's Non-Cosigned Outcomes-Based Loan.

"From the very beginning, we have always put students first, and we want to make sure every student has the resources they need to be successful for school this Fall," said Chairman and Chief Executive Officer Ken Ruggiero. "The number one reason students drop out of school is because they don't have the money to pay for it. Ascent's Outcomes-Based Loan was created to help upperclassmen and adult learners cover the cost of their education when they are no longer supported with federal and state financial aid."

DACA students eligible for Ascent's cosigned loans are now eligible to qualify for Ascent loans without a cosigner. Furthermore, Ascent expanded eligibility for DACA and international students to enter all of Ascents scholarships, including the 50 Days of $1,000 Scholarships Giveaway this summer. 

Ascent's newest release includes an updated proprietary algorithm to enable even more students to pre-qualify for an Ascent loan without a cosigner. The algorithm helps students lacking sufficient credit or income qualify for an Outcomes-Based Loan based on several factors such as school, degree program, graduation date, expected outcomes, major, credit, and cost of attendance.

"We're continuing to improve our process for pre-qualifying borrowers in underserved populations as they explore options to pay for school," said Chief Marketing Officer Kim McNealy. "We also want to make sure we're educating students and their parents every step of the way, which is why we incorporate financial wellness within our application process."

To learn more about Ascent's enhancements and its loan products, visit AscentFunding.com/Enhancements.

About Ascent Funding

Ascent Funding, the leading outcomes-focused company committed to student success, revolutionizes how students pay for higher education at more than 2,600 traditional schools and coding bootcamps. Ascent believes education is an investment for the future, and we want to empower students from all economic backgrounds to maximize the return on that investment.

Contact for Press Inquiries

Lauren Garner | Senior Director of Marketing
877-216-0876
[email protected]

SOURCE Ascent Funding, LLC