Student Loans with a Cosigner | Ascent Funding (2024)

Low Fixed Rates

Applying for a private student loan typically requires that you meet certain credit score and income requirements. But, as a student, you may not qualify for a loan on your own. You may consider applying for a student loan with a cosigner.

You can apply to release your cosigner after making twelve (12) consecutive, full principal and interest payments on-time or an equivalent prepayment amount while also meeting the other eligibility criteria to qualify including, but not limited to meeting certain minimum credit and income requirements and completing a cosigner release application. See full eligibility criteria requirements at AscentFunding.com/BorrowerBenefits. With Ascent loans, you can request to release your cosigner directly with Launch Servicing or the loan holder.

Note: The option to apply to release the cosigner is only available to student borrowers who are a U.S. citizen, U.S. permanent resident, or have a Deferred Action for Childhood Arrival (DACA) status and is not available to students who are not U.S. citizens or U.S. permanent residents.

Choosing a private student loan with a cosigner may offer benefits when payments are made on time, including:

• Building credit for your future after you graduate.
• Establishing good credit for your cosigner.
• Qualifying for competitive interest rates on other loans.

Even if you have a cosigner, you can apply to release your cosigner after making twelve (12) consecutive full principal and interest payments on-time or an equivalent prepayment amount while also meeting the other eligibility criteria.

A cosigner agrees to become legally responsible to make your student loan payments if, for whatever reason, you are unable to in the future, so it’s important to choose someone who is reliable and meets the eligibility requirements.

Here are a few common types of cosigners:

• A parent or legal guardian
• Aunt, uncle, or other relatives
• Friend (or spouse if you are married)
• Mentor

A cosigned student loan is a student loan that you take out with the help of a creditworthy person. If you have no credit or bad credit, a cosigner with good credit may lower the interest rate of your student loan and allow you to choose better terms.

A cosigner agrees to take equal responsibility for the college loan. This means that if the student borrower is not able to make the payments, the cosigner is still legally obligated to pay the loan. Either party can make the required monthly payments.

A cosigner must meet the following requirements:

• Be a U.S. citizen or U.S. permanent resident
• Have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your borrower
• Must meet a minimum gross annual income of $24,000 for the current and previous year
• Be able to submit a satisfactory proof-of-income

Yes. You can apply to release your cosigner after making twelve (12) consecutive, full principal and interest payments on-time or an equivalent prepayment amount while also meeting the other eligibility criteria to qualify including, but not limited to meeting certain minimum credit and income requirements and completing a cosigner release application. See full eligibility criteria requirements at AscentFunding.com/BorrowerBenefits. The student borrower must make the request to release a cosigner directly through Ascent’s loan servicer, Launch Servicing, or the loan holder.

Note: The option to apply to release the cosigner is only available to student borrowers who are a U.S. citizens, U.S. permanent resident, or have a Deferred Action Childhood Arrival (DACA) status and is not available to students who are not a U.S. citizen or U.S. permanent resident.

• Ascent considers several factors which may include creditworthiness, school, program, cost of attendance, GPA, and other factors.
• Ascent loans are for college students (both undergraduate and graduate) who are at least half-time enrolled in a degree program at an eligible institution.
• Cosigner must be a U.S. citizen or U.S. permanent resident.
• Students may apply without a cosigner if they are a U.S. citizen, U.S. permanent resident, or have a Deferred Action for Childhood Arrival (DACA) status.

Ascent’s credit decisioning criteria is proprietary and subject to change, but you can check what rates you pre-qualify for without impacting your credit score. We consider credit history and several other factors including, but not limited to, credit score:

Cosigned Credit-Based Loan

• 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.

Flexible 5, 7, 10, 12, or 15-year repayment terms.
There’s no penalty for early repayment.

Postpone full principal and interest payments up to 9-months after graduation or leaving the program, or otherwise dropping to less than half-time enrollment status.

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Yes. You can apply to release your cosigner after making twelve (12) consecutive full principal and interest payments on-time or an equivalent prepayment amount while also meeting the other eligibility criteria to qualify including, but not limited to meeting certain minimum credit and income requirements and completing a Cosigner Release application. See full eligibility criteria requirements at AscentFunding.com/BorrowerBenefits. The student borrower must make the request to release a cosigner directly through Ascent’s loan servicer, Launch Servicing, or the loan holder.

Note: The option to apply to release the cosigner is only available to student borrowers who are U.S. citizens or have U.S. permanent resident status or DACA students and is not available to students who are not a U.S. citizen or U.S. permanent resident.

• Ascent considers several factors which may include: creditworthiness, school, program, cost of attendance, GPA, and other factors.
• Ascent loans are for college students (both undergraduate and graduate) who are at least half-time enrolled in a degree program at an eligible institution.
• Cosigner must be a U.S. citizen or have a U.S. permanent resident status.
• Students may apply without a cosigner if they are a U.S. citizen or have U.S. permanent resident or Deferred Action for Childhood Arrival (DACA) status.

Ascent’s credit decisioning criteria is proprietary and subject to change, but you can check what rates you pre-qualify for in just four (4) steps without impacting your credit score. We consider credit history and several other factors including, but not limited to, credit score:

Cosigned Credit-Based Loan

• • 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.

Ascent was great because they were able to answer all of my questions. They made getting to college a lot easier for me.

Grace G. Simmons College

The best thing about Ascent is the fact that they make the process easy . I was able to do everything online and the money was sent directly to my school.

Anjellica C. Northern Arizona University

They talked to me and helped me out in the most possible way. They made sure I got the most that I possibly could.

Rnajee M. Mississippi State University