Updated: September 15, 2021

Ascent Cosigned Credit-Based Undergraduate Student Loan Review

Cosigned Credit-Based Loan (Undergraduate)

Advertising disclosure
Undergraduate
Student Loan Rating
4.5 of 5
Fixed 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.
3.26% - 11.10%
Variable 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.
1.85% - 9.60%
Repayment Terms
5 years, 7 years, 10 years, 12 years, 15 years
Important Information

Rewards: Autopay discount (0.25%), Reward of $525 per successful referral, and Graduation Reward (1%)

Yearly Loan Limit: $200,000

Overall Loan Limits: $2,001 (minimum), $200,000 (aggregate)

Cosigner Terms: Cosigner required, release available after 24 months of on-time payments

 

The bottom line:

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 24 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
  • They charge a fee on late payments
Ascent Student Loans College Ave Earnest
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.
Fixed:
3.26% - 11.10%
Variable:
1.85% - 9.60%
Fixed:
3.24% - 13.24%
Variable:
1.24% - 12.23%
Fixed:
2.99% - 12.78%
Variable:
0.99% - 11.44%
Loan repayment terms (Years) 5 years, 7 years, 10 years, 12 years, 15 years 5 years, 8 years, 10 years, 15 years Up to 15 years
Cosigner release? Yes, after 24 months on-time payments Yes, after 24 months on-time payments None

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 (which are among the lowest in the market). 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

Interest Rates, Fees and Terms
  • Credit Check: Soft for Rate Check, Hard for Application
  • Repayment Terms: 5 years, 7 years, 10 years, 12 years, 15 years
  • Minimum Borrowing Limit: $2,001
  • Yearly Borrowing Limit: $200,000
  • Aggregate Borrowing Limit: $200,000
  • Application Fee: None
  • Origination Fee: None
  • Prepayment Penalty: None
  • Late Fee: Yes
Requirements to Qualify
  • 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
Repayment Options
  • Immediate Principal and Interest Repayment: None
  • Fixed Monthly Repayment: Yes, Yes
  • Interest-Only Repayment: Yes
  • Full Deferment: Yes
Repayment Details
  • Length of Grace Period: 6 months
  • Maximum Deferment Period: 48 months
  • Maximum Forbearance Period: 24 months
  • Cosigner Release Option: Yes, after 24 months on-time payments
  • Death Discharge: Yes
  • Disability Discharge: Yes
Customer Service
  • 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
Extras
  • Scholarship Search Tool: Yes
  • Sponsors a Scholarship: Yes
  • Job and Career Assistance: Yes
  • Financial Literacy Training: Yes
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