Co-signed Student Loan from Ascent®

Pros & Cons

Fixed Rates

Repayment Options

• Interest Only Repayment: The Interest-Only Repayment option requires that while the student is enrolled at least half-time at an eligible institution, the borrower will pay at least the interest that accrues on the loan each month. Upon graduation or if no longer enrolled at least half-time, the borrower will make full principal and interest payments for the remaining term of the loan.
• $25 Minimum Repayment: The $25 Minimum Repayment option requires that while the student is enrolled at least half-time at an eligible institution, the borrower will pay a monthly payment of at least $25. Upon graduation or if no longer enrolled at least half-time, the borrower will make full principal and interest payments for the remaining term of the loan. Any unpaid interest will accrue and capitalize upon entering full principal and interest repayment.
• Deferred Repayment: The Deferred Repayment option allows for the borrower to postpone principal and interest payments on the loan while the student is at least half-time enrolled at an eligible institution. Interest accrues during this in-school period and is capitalized upon entering repayment. Repayment begins once the grace period ends, after the student ceases to be enrolled at least half-time at an eligible institution (either by graduation or otherwise).

Requirements

• Ages

  You must be the age of majority in your state.

• Residence

  You must be a U.S. citizen or permanent resident; if you are not a U.S. citizen or permanent resident, you may be able to qualify for a loan if you have a creditworthy cosigner.

• Requirements Description
  • Student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner. Cosigners must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your borrower.
  • Non-Cosigned Credit-Based Loan for undergraduate and graduate students. Student borrowers must have more than two (2) years of credit history with a minimum credit score.
  • Non-Cosigned Outcomes-Based Loan for undergraduate (juniors and seniors ONLY). Eligible student borrowers with no credit score, or eligible students that meet a minimum credit score with or without two (2) years of credit history.