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Ascent is offering a $100 cash bonus when you take out a student loan. You can also get up to a $525 cash bonus for every person you successfully refer to the student loan provider. Other referral opportunities here.
The Ascent Program for Funding Education is a private student loan program that provides access to higher education funding for undergraduate and graduate students. The online lender offers three options: a traditional co-signed loan, a credit-based non-co-signed loan, and another for borrowers who lack an income, credit history or co-signer. Let’s take a closer look at Ascent and its offers below.
Compare with student loan offers from Splash Financial, SoFi and Credible.
Ascent $100 Borrower Bonus
Get a $100 cash bonus when you apply for an Ascent Student Loan using our referral link.
Once your loan is approved, accepted, funded and disbursed to your school, you’ll receive the bonus via direct deposit or physical check. Payments are made within 60 days from the date you qualify and are sent out on the first Friday of every month.
To be eligible for the borrower bonus you must:
- Be new to Ascent Student Loans.
- Be a U.S. citizen or have U.S. permanent resident status.
- Be at least 18 years of age.
See the referral program rules here.
Ascent Up To $525 Referral Credits
When you participate in Ascent’s Refer-A-Friend program, you can earn up to $525 for every person you successfully refer to Ascent:
- Get a $25 cash bonus when your friend is approved for an Ascent Student Loan using your unique referral link.
- Get an additional $500 cash bonus when your friend’s loan is funded and disbursed.
Your friend will also earn a $100 cash bonus when their loan is funded and disbursed.
To participate, sign in or create an Ascent account, get your unique referral link, then share your referral link. There’s no limit to how many people you can refer, nor how many referral bonuses you can earn.
Ascent Student Loans
Ascent offers private student loans for undergraduate and graduate students. All Ascent Student Loans require only a soft credit check to qualify and to see what rate you’ll get. There are no application or origination fees, as well as no prepayment penalty fee. However, if your payment is 10 days late, you’ll be subject to a 5% fee (between $5 and $35).
| CO-SIGNED | CREDIT-BASED | FUTURE INCOME-BASED |
| Borrowers with a co-signer. | Borrowers with no co-signer, but with income & credit. | Borrowers with no cosigner, income or credit. |
| Loan Amount $1,000 – $200,000 | Loan Amount $1,000 – $200,000 | Loan Amount $1,000 – $20,000 |
| Variable-Rate Loan Term 5, 10, or 15 years | Variable-Rate Loan Term 5, 10 or 15 years | Variable-Rate Loan Term 10 or 15 years |
| Fixed-Rate Loan Term 5 or 10 years | Fixed-Rate Loan Term 5 or 10 years | Fixed-Rate Loan Term 10 years |
Ascent’s future income-based loans take into account your future earnings, rather than your current financial situation, as part of its underwriting process. For the co-signed and credit-based loan options, you will have to meet certain income and credit requirements:
| CO-SIGNED | CREDIT-BASED |
| Student credit score > 540 Co-signer credit score > 740 | Student credit score > 680 Student credit history > 2 years |
| Income > $24,000 per year | Income > $24,000 per year |
If you take out an Ascent Student Loan with a co-signer, you can apply to release your co-signer after making 24 principal and interest payments on time. You can also apply for deferment or forbearance (up to 24 months) if you face financial hardship.
Ascent Student Loans Extras
Take advantage of all Ascent has to offer, including:
- 0.25% – 2.00% interest rate reduction. For enrolling in autopay.
- Cashback rewards. You’re eligible for a 1% cashback reward upon graduation, terms apply.
- $1,000 scholarship giveaway. Every month, Ascent gives away a $1,000 scholarship. For details, go to Ascent’s Instagram page.
- Refer-a-friend program. More on that below.
Bottom Line
Ascent Student Loans provides a wide range of student loan products to suit just about any type of student borrower. Plus, Ascent loans don’t carry an application or origination fee. Only a soft credit pull is required to check your rate, so you don’t have anything to lose when you apply for an Ascent Student Loan. In fact, you’ll earn a $100 cash bonus if approved and you accept the loan offer.
Credible and SoFi also offer borrower bonuses on their student loan products.
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