Ascent Funding Launches New Financial Wellness Resources to Educate Students Before Taking on Debt

SAN DIEGO, Aug. 26, 2020 /PRNewswire/ -- Ascent Funding, LLC, an award-winning education finance company, today announced the launch of a new suite of financial wellness resources that educate students and parents to make more informed decisions to pay for college.

The free interactive financial wellness content and videos aim to help borrowers understand the implications of taking on student loan debt from application to the final payment. Topics include selecting a repayment plan, avoiding default, understanding common misconceptions about student loans, and more.

"The process of borrowing money to pay for college is complicated," said Ken Ruggiero, Chief Executive Officer at Ascent. "Only 16% of millennials are considered to be financially literate. Our goal is to bring transparency throughout the process of applying for student loans, so students understand the risk and responsibility before they take on debt. The federal government requires students to take a similar evaluation before graduating, but that's too late."

During Ascent's loan application process, students and parents will test their knowledge with multiple choice and true or false questions. Applicants who score below 80% will watch a series of engaging short videos to help educate them on challenging topics.

A previous study by Ascent found 45% of college students or their parents used a combination of federal and private loans to pay for their college education. The same survey found 57% of college students want more training on how loan processing and credit works.

"It's evident college students want and need more resources to understand their options to pay for college," said Kim McNealy, Chief Marketing Officer at Ascent. "We're seeing more students take financial responsibility for their college education. We must provide the tools they need, empowering them to make smarter financial decisions."

For more information on Ascent's financial wellness resources, please visit AscentStudentLoans.com/FinancialWellnessRelease.

About Ascent Funding, LLC

Student loans should expand possibilities, not limit them. Ascent created a new private student loan program that gives students more opportunities to pay for college with or without a cosigner. Ascent loans are originated by Richland State Bank, Member FDIC.

Contact for Press Inquiries

Lauren Thayer | Director of Marketing
619-684-7294
[email protected] 

SOURCE Ascent Funding, LLC