Ascent Student Loan is a financial service and resource for those students who require assistance through funding for their higher education. It functions on different levels with a number of terms and options tailored to meet individual needs. Fundamentally, the Ascent Student loan offers two advantages to anyone interested. It is free to apply and still quite new to the scholastic world. Investment is a concept and business model to understand while considering Ascent as an option for financial resources. After all, that is how the decision makers who run these institutions see the funds they have available. The following is an objective Ascent Student Loan review.
Ascent Student Loan Overview
Ascent Student Loan basically has three different models of operation known as Tuition, Independent and Health. All three loan services are specifically designed to help turn a good run of education into something great. Tuition is a run of the mill co-sign loan, while Independent is tailored for Junior and Senior students or graduates. As the name may suggest, Health is a form of financial aid specifically set aside for those studying in the medical field.
There are a few different Ascent Student Loan reviews, but they all resonate with the same positive tone and draw similar conclusions. Overall, the collective purpose and function of the Ascent Student Loan are straightforward and simple. It is a hassle-free line of finance for specific types of students. It helps students across the board whether have a source of income, an undergraduate degree, good credit, or need a cosigner. Yet, there is a secondary and crucial aspect to the finances available through Ascent.
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The practically of these loans all boils down to innovation through flexible and quick payment structures. Starting with the Tuition model, borrowers must have a cosigner to close the deal. Moreover, there are standards for the eligibility of co-signers who can sign on a student loan, which include a high credit score and an income of roughly 24,000 dollars. As student loan terms apply, the Ascent model is actually a pretty sweet deal.
However, there is a condition that the amount of a loan, during any one period, may not exceed the cost of a student’s tuition. This particular loan is useful for supplementing needs that may not be met through a student’s FASFA package. It is also an opportunity to take advantage of an extra lifeline while working to reach graduation. Anyone looking into this financial assistance should know there is a grace period of 6 months for payments. The loan servicer is the University Accounting Service. And, the funds themselves are flowing through either Richland State Bank FDIC or Turnstile Capital Management.
A few key points:
- Fixed rates range from 5.29 – 11.54 percent
- Variable rates range from 5.29 – 11.54 percent
- Loan terms include 5, 10, or 15 years
- Minimum amounts start at 2,000 dollars
- Maximum amounts reach 2,000 dollars
Ascent Student Loan Requirements
Even though it may sound too good to be true, the standards for qualifying for an Ascent Student Loan are pretty easy. Borrowers are advised to look over more than one Ascent Student Loan review to get a fuller understanding of these standards.
The most difficult or discriminating condition is attending a school that is eligible to receive the funds in the first place. Even then, a good two or four-year institution qualifies as eligible. After that, it is just a matter of being a citizen of the United States or a properly documented international student. The information needed to get the process started is simple enough to include social security number, valid identification, and other pertinent details regarding the borrower’s lifestyle.
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Comparably, it is about as intrusive and painful a process as signing your life away to drive off the dealer’s lot with a brand new automobile. There is a small bit of fine print when it comes to cosigner eligibility. With all the good credentials in place, loan applicants need to know there is a tiny list of restrictions that apply to eligibility.
Naturally, these reason for a not getting approved apply to applicant and cosigner collectively. The list of “no” includes previously defaulted loans, repossession, tax liens, foreclosure, and garnishment. It also includes no delinquent payments more than 60 past due within the last two years. In the free and clear debt wise, qualified students only need to have a solid budget and source of income to feel good about their chances.
A few key points:
- Cosign credit score must be higher than 600.
- Annual income requirements are 28,000 dollars.
- A qualified cosigner must be a United States citizen or a permanent resident.
- Ascent loans come with no application fee.
We Liked Ascent Student Loan Because…
There are a number of practical and rational reasons to look into the Ascent Student Loan and recommend it to others. It should be noted that these loans come with a number of deferment exceptions and a forbearance option just in case things do not go as planned for borrowers. Of course, there are the standard defer payment options of being in school, in service to the country, or accepted into a residency program. The education deferments allow for 24 months of putting off payments. However, the military service deferment allows for 36 months, which can be cumulative.
The Ascent financial assistance grants forbearance on payments up to four times lasting one two three months on each occurrence. As far as features or incentives go, these deferment and forbearance allowances are pretty much bread and butter by popular standards. Honestly, they can be found on just about any Ascent Student Loan review. However, there are extras available through the loan network that prove advantageous to student borrowers.
First of all, these loans come with a cosign release option, which means after 2 years of successful payments a cosigner can be written out of the equation. And, there is a 1% cash back bonus upon graduation attached to loans if a student so desires. While the Ascent Student Loan may appear to be pennies from heaven, there is some fine print at the bottom of the deal. Absolutely, schools that do not hold Title IV accreditation can not see Ascent monies.
Not Sure About…
As this content is an Ascent Student Loan review, it only makes sense to lead with the good news first. The report is that this institution operates on the level and does not scam. It is worth a student’s time to investigate and apply for financing at their convenience. More than one establishments agree that the services provided are definitely beneficial to willing and able participants.
Online Reviews Say That
It really is not just a numbers game for the people who work under the Ascent establishment. Every now and then, an Ascent Student Loan review understands and conveys this notion. They look at a number of factors before making the final decision regarding student’s loan application.
However, it should be noted that many review organizations recommend thoroughly looking into other options before signing on the dotted line with Ascent. This is not a smirk or smudge on the reputation of the loan provider. It is more like a general guideline attached to the review of any service in itself.
There is one little detail some Ascent Student Loan reviews seem to keep overlooking. Although Ascent has no standing with the Better Business Bureau regarding its service, there is no need for concern. This lack of standing stems from a fairly new origin dated 2017.
Ascent Student Loan Contact Details
Like just about any business these days, contacting Ascent is more than easy. The institution has toll free numbers to dial, and an email address as well. Not to mention potential borrowers can contact University Accounting Services themselves using a toll-free number whenever they are ready. It is as simple as dialing 877-216-0876 to contact Ascent or 800-999-6227 to reach UAC. The email address is firstname.lastname@example.org. You can see more contact details on their website.
Even though the subject matter is the financing of higher education, which greatly affects a person’s future, there’s no reason to overthink the Ascent student option. For one, it has the potential to help countless people across the United States as a nation. More importantly, two simple truths apply to the process itself. It is better than nothing, and all they can do is say no. Thank you for reading our Ascent Student Loan review! Share your experience and thoughts in the comments below!