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Ascent is on a mission to provide access to education for millions of underserved students every year. We believe education is an investment in students’ futures, and we want to empower students of all economic backgrounds and disciplines to maximize the return on that investment.
Features Of Ascent Abroad Education Loan
| Sr. No | Features | Education Loan Details |
|---|---|---|
| 1 | Loan amount | Minimum Loan Amount - $2,001 Maximum Loan Amount - $200,000 |
| 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
Fast & Easy
No Fees
Free Resources And Apps
More Access
The Most Repayment Terms
Ascent has been names named Best Private Student Loan by Forbes Advisor and NerdWallet (to name a few) because Ascent offers great rates and benefits for students and cosigners:
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 | Can students that are Non-U.S. citizens apply for an Ascent college loan? | Yes. Individuals may apply as a borrower or cosigner based on their citizenship status as follows: 1. U.S. Permanent Residents – as a solo borrower, as a cosigner or as a borrower with a qualified cosigner. 2. Deferred Action for Childhood Arrival (DACA) status – as a solo borrower or as a borrower with a qualified cosigner. 3. International Students/U.S. Temporary Residents – as a borrower with a creditworthy cosigner who is a U.S. citizen or permanent resident. NOTE: Students that don’t reside in the United States or U.S. territories will be required to provide evidence they will be living and attending school in the U.S. We’re unable to fund students taking classes outside of the U.S. |
| 2 | 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. |
| 3 | Eligible Courses: | MBA Dental Law Medical General & PhD |
| 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. |
Documents Required for Ascent Abroad Education Loan
| Sr. No | Type | Documents Required |
|---|---|---|
| 1 | International Student | 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 Series, H-1B, H-1C, 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. |
| 2 | DACA Student | 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 | Domestic Student | Provide a Permanent Resident Card. |
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?
1. 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. 2. 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. 3. 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. 4. 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.