Ascent Non-Cosigned Credit-Based Undergraduate Student Loan Review
Non-Cosigned Credit-Based Loan (Undergraduate)
Ascent offers three different undergraduate student loan products that provide remarkable flexibility when it comes to having a cosigner and satisfying credit requirements. The Non-Cosigned Credit Based loan is best for creditworthy student borrowers.
How does this loan compare?
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 Non-Cosigned Credit Based undergraduate student loan is Ascent's product for students who have already built a credit history, allowing them to apply without a cosigner.
Here are some of the attractive aspects of Ascent's student loans: They have non-cosigned loan options for undergraduate students, they offer a graduated repayment plan, and you can borrow up to the full cost of attendance at your school. Like other lenders on our list, 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.
On the downside, the Ascent non-cosigned loans are restricted to juniors and seniors. Meaning, if you’re a freshman or sophomore, you’ll need to have someone cosign your loans. Additionally, if you go down the non-cosigned route, you get the option of fully deferring your loan payments, but not of paying a fixed amount each month or the interest-only payments (which both help reduce your total student loan debt).
Since there is no cosigner on the Non-Cosigned Credit Based loan, this is a more difficult loan to qualify for, requiring minimum income of $24,000 annually and a FICO score of 680 with 2+ years of credit history.
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: $2,001
- 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: None
- Immediate Principal and Interest Repayment: None
- Fixed Monthly Repayment: None
- Interest-Only Repayment: None
- Full Deferment: Yes
- Length of Grace Period: 9 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
- 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