Ascent Cosigned Credit-Based Undergraduate Student Loan Review
Cosigned Credit-Based Loan (Undergraduate)
Rewards: Autopay discount (0.25%), Reward of $400 per successful referral, and Graduation Reward (1%)
Yearly Loan Limit: $200,000
Overall Loan Limits: $2,001 (minimum, $6,001 for borrowers with a MA permanent address), $200,000 (aggregate)
Cosigner Terms: Cosigner required, release available after 12 months of on-time payments
Ascent offers three different undergraduate student loan products that provide remarkable flexibility when it comes to having a cosigner and satisfying credit requirements. The Cosigned Credit-Based student loan is designed for students with little to no credit history who are applying with a creditworthy cosigner.
Pros
- Cosigner release available after 12 months of on-time payments
- Offers a graduated repayment plan
- You can borrow up to the full cost of attendance
Cons
- Borrowers of non-cosigned loans must be college juniors or seniors
How does this loan compare?
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| Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available. |
Fixed:
3.59% - 14.16%
Variable:
6.00% - 15.21%
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Fixed:
3.69% - 16.49%
Variable:
5.62% - 16.85%
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Fixed:
3.59% - 17.99%
1
Variable:
5.59% - 17.99%
1
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| Loan repayment terms (Years) | 5, 7, 10, 12, 15 years | 5, 7, 10, 12, 15 years | 5, 8, 10, 15 years |
| Cosigner release? | Yes, after 12 months on-time principal and interest payments | None | Yes, after 24 months on-time principal and interest payments |
Full Review
You’ll notice we rate Ascent highly compared to other lenders, and there’s good reason for that. They offer three different lending products that are each flexible when it comes to repayment and less stringent when it comes to qualifying. The Cosigned Credit Based student loan is available to students with a 0 score or no credit history with a creditworthy cosigner.
Here are some of the benefits of Ascent's student loans: They offer a graduated repayment plan, and you can borrow up to the full cost of attendance at your school, with a $200,000 aggregate loan limit. Like other student loan lenders we review, they don’t charge application, origination or guarantee fees, and they offer fixed and variable interest rates. If you choose to repay your loan early, they won’t charge you prepayment penalties. And when it comes to rewards, borrowers enjoy an auto-debit discount, graduation reward and current customer discount.
Ascent also offers a Progressive Repayment Option, where students in repayment may be eligible to reduce their current Ascent Student Loan monthly payment which would gradually increase over time to pay the loan in full within the original loan term. Students may be a U.S. citizen, U.S. permanent resident, DACA recipient or U.S. temporary resident enrolled at least half-time at an eligible institution, and the cosigner must be a U.S. citizen or permanent resident.
Ascent Student Loans - Private Student Loan Details
- Credit Check: Soft for Rate Check, Hard for Application
- Repayment Terms: 5, 7, 10, 12, 15 years
- Minimum Borrowing Limit: Not specified by lender
- Yearly Borrowing Limit: $200,000
- Aggregate Borrowing Limit: $200,000
- Application Fee: None
- Origination Fee: None
- Prepayment Penalty: None
- Late Fee: Yes
- Minimum Credit Score: Not specified by lender
- Minimum Annual Income: $24,000
- Citizenship Restriction: Available to Citizens, Permanent Residents, DACA students, and International Students with a credit-worthy Citizen or Permanent Resident cosigner
- Minimum Enrollment Restriction: Half-Time
- List of States where Loan is Not Available: None
- Approved Schools Include: Not specified by lender
- Immediate Principal and Interest Repayment: None
- Fixed Monthly Repayment: Yes
- Interest-Only Repayment: Yes
- Full Deferment: Yes
- Length of Grace Period: 9 months
- Maximum Deferment Period: 48 months
- Maximum Forbearance Period: 24 months
- Cosigner Release Option: Yes, after 12 months on-time principal and interest payments
- Death Discharge: Yes
- Disability Discharge: Yes
- US-Based Call Center: Yes
- Hours of Operation (in addition to weekdays): No Evenings or Weekends
- Application Timeline: 1-2 business days to review required materials
- Scholarship Search Tool: Yes
- Sponsors a Scholarship: Yes
- Job and Career Assistance: Yes
- Financial Literacy Training: Yes
Other Loans that Ascent Student Loans Offers:
