Updated: July 6, 2021

Ascent Non-Cosigned Future Income-Based Student Loan Review (Juniors and Seniors Only)

Non-Cosigned Future Income-Based Loan (Juniors and Seniors Only)

The bottom line:

Ascent offers three different lending products that provide remarkable flexibility when it comes to having a cosigner and satisfying credit requirements. We rate their Non-Cosigned Future Income-Based Loan the best, though it is limited to $20,000 annually.

Pros

  • Borrowers can qualify based on alternative criteria to credit or income
  • Offers a graduated repayment plan
  • 2% discount for autopay

Cons

  • Borrowers of non-cosigned loans must be college juniors or seniors
  • Borrowers of non-cosigned loans are not offered the fixed or interest-only repayment options
  • They charge a fee on late payments
Advertising disclosure
Undergraduate
Student Loan Rating
3.5 of 5
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
10.27% - 12.46%
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
8.91% - 11.32%
Repayment Terms
5 years, 7 years, 10 years, 12 years, 15 years
Important Information

Rewards: Auto-Debit Discount, Graduation Reward, Current Customer Discount

Yearly Borrowing Limit: $200,000, normally, but $20,000 for the Non-Cosigned Future Income-Based Loan

Overall Borrowing Limits: $1,000 (minimum), $200,000 (aggregate maximum for all borrowers)

Cosigner Terms: Cosigner is optional, offers Cosigner Release after 24 months of on-time payments

Wondering how much that loan is going to cost you? Check out our free Loan Calculator!
Input your loan terms and we’ll tell you how much you can expect to pay monthly and in total

You’ll notice we rate Ascent highly compared to other lenders, and there’s good reason for that. They offer three different lending products that are each flexible when it comes to repayment and less stringent when it comes to qualifying. The best of their three loan programs is the Non-Cosigned Future Income-Based Loan, which is a unique student loan in that for borrowers with no credit history, alternative criteria like GPA, school of attendance, and major can be used to qualify for a non-cosigned loan.

Ascent's non-cosigned loan options, they offer a graduated repayment plan, and you can borrow up to the full cost of attendance at your school. Like other lenders on our list, they don’t charge application, origination or guarantee fees, and they offer fixed and variable interest rates (which are among the lowest in the market). If you choose to repay your loan early, they won’t charge you prepayment penalties. And when it comes to rewards, borrowers enjoy an auto-debit discount, graduation reward and current customer discount.

You can borrow up to the full cost of attendance with Ascent, but their Non-Cosigned Future Income-Based Loan is limited to an annual maximum of $20,000. Their non-cosigned loans are also restricted to juniors and seniors. Meaning, if you’re a freshman or sophomore, you’ll need to have someone cosign your loans. Additionally, if you go down the non-cosigned route, you get the option of fully deferring your loan payments, but not of paying a fixed amount each month or the interest-only payments (which both help reduce your total student loan debt).

Ascent Student Loans - Private Student Loan Details

Interest Rates, Fees and Terms
  • Credit Check: Not specified by lender
  • Repayment Terms: 5 years, 7 years, 10 years, 12 years, 15 years
  • Minimum Borrowing Limit: $2,001
  • Yearly Borrowing Limit: $20,000
  • Aggregate Borrowing Limit: $200,000
  • Application Fee: None
  • Origination Fee: None
  • Prepayment Penalty: None
  • Late Fee: Yes
Requirements to Qualify
  • Minimum Credit Score: None
  • Minimum Anual Income: None
  • Maximum Debt-to-Income Ratio: None
  • Citizenship Restriction: Available to Citizens, Permanent Residents, DACA students, and International Students with a credit-worthy Citizen or Permanent Resident cosigner
  • Minimum Enrollment Restriction: Half-Time
  • List of States where Loan is Not Available: None
  • Approved Schools Include: Not specified by lender
Repayment Options
  • Immediate Principal and Interest Repayment: None
  • Fixed Monthly Repayment: None
  • Interest-Only Repayment: None
  • Full Deferment: Yes
Repayment Details
  • Length of Grace Period: 6 months
  • Maximum Deferment Period: 48 months
  • Maximum Forbearance Period: 24 months
  • Cosigner Release Option: Yes, after 24 months on-time payments
  • Death Discharge: Yes
  • Disability Discharge: Yes
Customer Service
  • US-Based Call Center: Yes
  • Hours of Operation (in addition to weekdays): No Evenings or Weekends
  • Application Timeline: 1-2 business days to review required materials
Extras
  • Scholarship Search Tool: Yes
  • Sponsors a Scholarship: Yes
  • Job and Career Assistance: Yes
  • Financial Literacy Training: Yes
Ascent Student Loans College Ave Earnest
Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Fixed:
10.27% - 12.46%
Variable:
8.91% - 11.32%
Fixed:
3.49% - 13.24%
Variable:
1.29% - 12.23%
Fixed:
3.34% - 12.78%
Variable:
1.04% - 11.44%
Loan repayment terms (Years) 5 years, 7 years, 10 years, 12 years, 15 years 5 years, 8 years, 10 years, 15 years Up to 15 years
Cosigner release? Yes, after 24 months on-time payments Yes, after 24 months on-time payments None