If you are in need of private loans for your education, there are plenty of lenders out there who may be able to give you what you need. We understand though that it can be a pain in the behind to go through and look at every single option out there, still ending up feeling as though you’re not on the right track. 

There are a number of different companies that you can consider, even if you don’t have a good track record with your credit, if you haven’t had a lot of time to build this up, or if you don’t have a cosigner, but one of the ones that comes up a lot is Ascent Funding. So, we thought that we would take a look at this company, and give you our honest review of who they are, what they can offer, and what the pros and cons are. If you would like to find out more about Ascent Funding, feel free to read on.

Who Is Ascent Funding?

Ascent Funding is a private loan provider that was founded all the way back in 2016. Their goal has always been to ensure that higher education is accessible to as many people as possible, having seen previously how many people are held back simply because they are not able to secure funding. Many students either haven’t had time to build up their credit history, but as such this works against them when they are looking at loans from other companies. Or, the same could be said for those who are unable to have a cosigner. 

Ascent focuses on ensuring that they are able to offer their loans to as many people as possible, even going as far as to have many different types of loans to suit as many situations as they can. Flexibility is the name of the game when it comes to Ascent Funding, and it’s something that makes them stand out.

What Services Are On Offer?

So, what services is Ascent Funding actually able to offer? A lot to be completely honest with you. They’re not just a one dimensional student loan provider, and that’s what makes them so appealing. They are able to offer their services to undergraduates, graduates, DACA recipients, international students in some cases, and offer bootcamps to assist also. 

Undergraduates and graduates are able to apply for loans to cover their tuition, their accommodation, their books, and other equipment that is related to their education. With their flexible repayments and the choice between fixed or variable interest rates, this company really focuses on customer experience, ensuring that the loans work for the borrower.

What Did We Like About Them?

One thing that we love about Ascent Funding is that you are able to pre-qualify without impacting your credit score, which allows you to compare a range of different loan options. You are then able to use all of this information to make an informed choice as to which company you want to go with, taking a lot of the stress out of the process. Nobody wants to impact their credit so early on just for looking.

As well as this, we love the fact that they are so flexible when it comes to their repayment options. You have the choice to pay full payments, interest only payments, and other types depending on your financial situation. This reduces a lot of pressure on the borrower while they are studying, helping them to focus on their studies rather than scrambling to make large repayments.

We also want to point out that one of their biggest advantages is that they are accessible. A lot of private lenders are focused on credit scores more than anything else, which cuts a huge group of people out of being able to qualify. This company isn’t as interested in credit scores, and instead looks at other factors to determine whether someone is eligible for their loans. For example, those who show strong academic performance or good future earning potential are considered for loans with this company. 

As well as this, the application process is generally simple, easy to complete, and doesn’t take a lot of time. You just fill in all of your information, and you’re good to go. There’s no faffing about, there’s no complex language that you’re having to Google just to understand – it’s easy, it’s quick, and it’s convenient. 

What Did We Not Like So Much?

When all is said and done, it’s important to remember that Ascent Funding is still a private lender, and you should make sure that you have exhausted all federal options and legal aid options before you go down this route. This is because federal loans have more protection on them than private loans, and you won’t have access to some of the perks of federal plans including income related repayments. 

Another downside is that some loans have pretty high interest rates. While they are an accessible company, their loans and their rates are heavily dependent on the borrower, which can be a pain in the behind for those who do not have a cosigner, or those who are deemed to be higher risk. As such, for those who may end up with super high interest rates, this company might not be the best choice.

Overall – What Do We Think?

So, overall, would we recommend Ascent Funding to you? Yes, we would. We think that this is a fantastic choice for those that need education loans but don’t have a cosigner. Also, for those who have exhausted all of the federal funding options, or maxed out on their federal loans, this could be a fantastic option. 

Just make sure that you are looking at all of the information provided by the company, and use their tools to learn about financial responsibility and the best way to manage your money moving forward. With so many pros going for them, and only a few cons, it’s definitely worth adding Ascent to your list of options. 

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