Ascent Funding is a private loan company that prioritises students by offering student loans for education and consumer loans for boot camps. As with other loan providers, students can apply for an Ascent student loan that needs a cosigner. However, Ascent also provides non-cosigned loans that might be based on a student's credit or future earning prospects. Ascent Funding was established in 2015 and is headquartered in San Diego. Students who are neither U.S. citizens nor permanent residents, or who have Deferred Action for Childhood Arrivals status - termed "Dreamers" – are eligible to apply for Ascent private 1student loans.
Ascent Funding aspires to provide access to education for millions of students who want to study abroad, based on the guiding premise that loans should expand your possibilities and not limit them. Ascent believes that students are more than merely their credit score and hence offers them the opportunity to apply for education loans with or without a cosigner. Prospective students interested in pursuing undergraduate, graduate, coding boot camps, or accelerated learning programmes at qualified universities can apply for an Ascent Education Loan and invest wisely in their education.
Features Of Ascent Abroad Education Loan
| Sr. No | Features | Education Loan Details |
|---|---|---|
| 1 | Loan amount | Minimum Loan Amount - $2,001 Maximum Loan Amount - $400,000 |
| 2 | Margin money | Nil |
| 3 | Processing fee | Nil |
| 4 | Processing time | Depends on student profile. |
| 5 | Loan tenure | 20 Years (5, 7, 10, 12, 15, or 20 Years) |
| 6 | Prepayment charges | Nil |
| 7 | Countries covered | USA |
Benefits of Ascent Abroad Education Loan
No Application, Origination, Or Disbursement Fees
Flexible Options
No Prepayment Penalty
Discounts & Cashbacks
Build Credit In Your Own Name
The Most Repayment Terms
Benefits Of Getting Your Ascent Abroad Education Loan Through UniCreds
Higher Chance Of Approval
Online Submission Of Documents
No Cost To You
Calculate EMI for Education Loan
Loan Amount
Interest (p.a)
Loan Duration
Course Duration
Grace Period
Monthly EMI
Principal Amount
Total Interest
Total Amount
Loan Amortization Schedule
Following table show the year wise payment schedule.
| Month | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
|---|---|---|---|---|
Month 1 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 2 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 3 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 4 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 5 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Eligibility Criteria For Ascent Abroad Education Loan
| Sr. No | Type | Requirement |
|---|---|---|
| 1 | For the Borrower & Co-Signer | Ascent Funding takes into account a variety of factors, including creditworthiness, school, programme, graduation date, major, tuition and fees, and others. Ascent loans are available to college students (both undergraduate and graduate) who are enrolled at least half-time in a degree programme at a qualifying school. You must fulfil Ascent's income standards if you are a student borrower without a cosigner and have at least two years of credit history. Student borrowers must have a minimum gross yearly income of $24,000 for the current and preceding years, as well as a monthly debt-to-income ratio of less than 50%. Co-signers must have a gross yearly income of at least $24,000 in the current and preceding years. |
| 2 | Eligible Courses | MBA Dental Law Medical General & PhD |
Documents Required for Ascent Abroad Education Loan
| Sr. No | Type | Documents Required |
|---|---|---|
| 1 | International Students/U.S. Temporary Residents | A VISA that does not expire within 6-months of the end of the enrollment period for which the loan is being requested with an acceptable category as follows: F-1, F-3, G-1, H-1B, H-1C, H-2B, H-3, J-1, L-1, M-1, M-3, T-1, TN Or An I-20 Form (pages 1 & 2 and signed by the school) and an unexpired passport from country of origin. Or Form I-797, Notice of Action and unexpired passport from country of origin from an eligible Temporary Protected Status country. |
| 2 | For DACA status | Provide documentation from the U.S. Department of Homeland Security /U.S. Citizenship and Immigration Services (USCIS) that indicates DACA status that does not expire within 6-months of the end of the enrollment period for which the loan is being requested. |
| 3 | For U.S. Permanent Residents | Provide a Permanent Resident Card. |
| 4 | Documents Required For An Ascent Student Loan | The online loan application is simple, but you must keep specific papers on hand in order to finish the application in one sitting. ID proof (photo ID) Social security number School information Estimated financial aid Employment information Proof of income Contact details for one reference Furthermore, a hard credit check is required. If you want to check if you're pre-qualified for any of the loan alternatives, Ascent provides an eligibility check that includes a soft credit check that won't affect your credit score. |
Loan Repayment For Ascent
For borrowers in financial hardship, payments may be suspended at the lender's discretion. While the borrower is in college, Ascent provides three different repayment options. Fully deferred, interest-only, and $25 minimum repayment options are among them.
Some variable-rate graduate student loans may have a repayment duration of up to 20 years, while other variable-rate loans may have a repayment length of 15 years and fixed-rate loans may have a repayment time of 15 years. The minimum loan amount is $2,001, and students must be enrolled at least half-time at a qualifying school.
How To Apply For Ascent Abroad Education Loan?
Apply Online
- You can begin your application once you've verified your eligibility. Applicants can either check online or receive a callback from one of our expert education loan advisors.
- Based on your circumstances, our expert counsellors can assist you in obtaining an Ascent student loan without or with collateral.
- Once you've changed your profile information, our counsellors will completely review it and, based on your eligibility, provide you with the next set of steps.
Documentation
- UniCreds helps candidates with uploading their documents and paperwork online, sparing you the hassle of going to the bank and thereby enabling you to do it from the comfort of your own home.
- Furthermore, to speed up the process, UniCreds sends you a personalised set of documents to provide from your end on the basis of your profile and the kind of loan you've applied for.
Loan Approval
- Once the banker receives the documents that you’ve submitted, they are uploaded online for approval.
- Above-average students have a higher probability of receiving 90 per cent of their financing as well as a lower rate of interest on the loans.
- Since most loan approvals are received via email, keep an eye out for any email pertaining to your loan amounts, interest rates, moratorium period, and payback period.
Loan Disbursal
- Since this is an entirely online process, borrowers will use the Ascent portal to ensure that the loan is approved, sanctioned, and then rightfully disbursed.