Get a loan that goes beyond tuition
Ascent’s Short-Term Loans are 12- and 24-month consumer loans designed for students attending training programs at lower price points.
Short-Term Loans allow students to receive tuition funding for eligible programs from $1,000 - $6,000. With Ascent, more of your students have access to straight forward loans and student-friendly payment options.
- Unsecured consumer loan
- School certified
- 90% average net funding amount
- Dischargeable in bankruptcy
- Minimum loan amount: $1,000
- Maximum loan amount: $6,000
- .25% ACH discount for automatic payments
- 5% Origination Fee
- Interest Rate for 12-month loan term: 9%
- Interest Rate for 24-month loan term: 11%
- Students can make interest-only, principal
& interest, or $25/month repayment until
3 months after graduation
- 12-month or 24-month term
- Grace Period: Program + 3 months
- Deferment & Forbearance available for all
Ascent loans (up to 12 months)
- School manages refunds & withdrawals via
- The school must meet Ascent’s QualityAssurance criteria
- Non-Title IV
- Program at approved school
- Program tuition less than $6,000
- Borrowers must be at least 18 years of age or at the age of majority in the respective state of residence. Must have a U.S. based address.
- Solo borrowers & co-signers must be U.S.Citizens, permanent residents, or haveDeferred Action for Childhood Arrival(DACA) status; temporary U.S. residentsable to demonstrate legal authorizationto reside in the U.S. (as described in theProgram Guidelines) while attending aneligible institution may be eligible with aqualified co-signer
Ascent Student Application: At a Glance
From the partnership page, when the student enters in their email and desired program, a new tab will open. The first section for 1: School will auto populate with the school, program, and location (attending Remotely if Online or Applicable campus(es) will populate).
In Step 2:Youis where Ascent gathers allthe personal information of the applicant. The first step is requesting the student’s name.
The next screens will ask for phone number, citizenship, personal email and SSN. The next screen asks for student’s permanent address.
The following screens are for the mailing address and birth date.
It is important to note that the borrower must be considered a legal adult. In most states the legal adult age is 18, however, some states are 19. We are unable to accept applications from 16-and 17-year-olds that are emancipated and wish to apply with anadult cosigner.
In Step 3: Employment–this information is for data collection purposes only. This information is not used for an approval or denial. Ascentasksfor highest level of education, ifthe student currently employed,and what is their estimated annual income.
In Step 4: Loan Information, the first question is asking will be the start date of the program be within 90 days of the day they are applying? This is important because Ascent needs a credit report to not have more than 90 daysin-between the two dates based on requirements set by our lending bank. If a student tries to apply for a program more than 90 days, please advise them to wait to apply until they are in that window of time.
Next, the student will enter in their requested amount of tuition. The Ascent minimum is $2,000with the maximum set by the school for each program. If a student tries to enter less than $2,000 or more than the maximum, then an error message will appear.
The student must accept the approval disclosure in order for application to progress. Ifthey decline then the application will immediately cancel.
- Radical transparency: Students know their fixed interest rate, term options, and exact repayment amounts before they even apply.
- Peace of mind: Students know their school is committed to their success and that the program has been approved by Ascent.
- Student-friendly fine print: Students can make interest-only payments during program, a grace period after competition, ACH discounts, and no pre-payment penalties.
- Ease of application: 10 minute application, credit decisions just minutes after applying, and no teaser rates to trick students.