Ascent student loans is not as well known as some other student lenders, but its unique Independent loan makes it a good option for upper-class undergrads and grad students. It also offers a cosigned loan, which is more typical in the private student loan market. But for full-time juniors, seniors, and grad students, Ascent may be one of the few options to qualify for private loans and rates are competitive.
Travis Hornsby, founder of Student Loan Planner, suggests creating a refinancing ladder to maximize your savings. “The way you do this is start with a payment you can afford pretty easily, say, a 10- or 15-year loan. Pay extra when you have extra, and you’ll cut down the amount that you owe rapidly,” Hornsby explained. “After a couple of years, you can refinance again to a seven-year loan, often with the same payment but with a lower interest rate. Finally, you could refinance one more time to a five-year loan before you finish paying off the entire amount.”
There are some circumstances that may result in your no longer having to repay your federal student loan. For instance, some or all of your loan could be forgiven in exchange for your performing certain types of service such as teaching or public service. Or the obligation to make further payments on your loan might be discharged based on specific factors such as your school closing or your becoming totally and permanently disabled. Take a look at all the possibilities: Find out what circumstances qualify your loans for forgiveness, cancellation, or discharge.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 1.9299999999999997% effective October 10, 2019.

Cosigner Release: If you are approved for a student loan with a cosigner, some lenders will allow you to release the cosigner from your loan (making them no longer responsible for repayment) after you make a certain number of on-time monthly payments. If this is something that is important for you, be sure to check if the lenders you are considering offer it and how long it takes.
Key information to understand student loans includes being aware of the annual and cumulative loan limits, interest rates, fees, and loan term for the most popular private student loan programs. Often the interest rates, fees and loan limits depend on the credit history of the borrower and co-signer, if any, and on loan options chosen by the borrower such as in-school deferment and repayment schedule. Loan term often depends on the total amount of debt.

If you have good credit, you can usually get a better interest rate. You can also choose a shorter repayment term so you can pay off your loans faster. The downside is that you give up protections like deferment of income-based repayment plans on federal loans, which puts you at risk if you lose your job and can’t afford student loan payments for a while.


Refinancing replaces multiple student loans with a single private loan at a lower interest rate. You can choose a new loan term that’s shorter than the one you originally received. That may increase your monthly payment, but it will help you pay the debt faster and save money on interest. You’ll also have just one bill to pay, rather than multiple.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. As certified by your school and less any other financial aid you might receive. Minimum $1,000. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/4/2019. Variable interest rates may increase after consummation.
Publisher Disclosure: PrivateStudentLoans.com is an independent advertising-supported platform for consumers to search, compare and apply for private student loans. PrivateStudentLoans.com is not affiliated with any colleges or universities. Lender search results do not constitute an official college preferred lender list. PrivateStudentLoans.com receives compensation from lenders that appear on this site. This compensation may impact the placement of where lenders appear on this site, for example, the order in which the lender appear when included in a list. Not all lenders participate in the Edvisors site. Lenders that participate may not offer products to every school.
There are no application, origination, or late fees from Discover. In fact, there are no fees at all. Discover doesn’t even charge late fees. That’s a unique and possibly valuable feature for some borrowers. In addition, Discover offers a 1.0% cash reward on each new student loan for borrowers with a 3.0 or better GPA. That’s a great good grades discount and another unique feature that makes Discover a good option for student loans.
Many students ignore their loans until after graduation, but it’s wise to start paying them off while you’re in school. Get a part-time job while you’re in college and dedicate most or all of the earnings to your student loans. If you can pay off $800 a month while you’re in school, then you’ll have paid off $30,000 or more by the time you graduated. For some people, that’s their entire amount owed!

The most expensive college in the United States—Sarah Lawrence College, in Bronxville, New York—charges $44,220 a year for tuition. And that doesn’t include fees and room and board, which can cost an additional $14,000. Even more disturbing is that the annual cost of a college education has risen by 130 percent in the past 20 years, according to the College Board. As a result, Americans have racked up about $1 trillion in education debt from both federal and private student and parent loans.
Publisher Disclosure: PrivateStudentLoans.com is an independent advertising-supported platform for consumers to search, compare and apply for private student loans. PrivateStudentLoans.com is not affiliated with any colleges or universities. Lender search results do not constitute an official college preferred lender list. PrivateStudentLoans.com receives compensation from lenders that appear on this site. This compensation may impact the placement of where lenders appear on this site, for example, the order in which the lender appear when included in a list. Not all lenders participate in the Edvisors site. Lenders that participate may not offer products to every school.
Elaine Rubin is the Senior Contributor and Communications Specialist at Edvisors. Ms. Rubin is responsible for maintaining content, responding to press and media inquiries, as well as serving as the lead contributor for the Edvisors blog and the Ask the Edvisor column. Ms. Rubin volunteers in the local Las Vegas community to help students and families understand the importance of education for success. Ms. Rubin has worked in higher education finance for more than 10 years, including seven years with the U.S. Department of Education's office of Federal Student Aid, and provides information and advice from both personal and professional experiences. She holds a Bachelor of Arts degree in Political Science with a concentration in Public Policy and Administration from Northeastern University.
Graduates may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school. Any federal loans refinanced with Lender are private loans and do not have the same repayment options that federal loan program offers such as Income Based Repayment or Income Contingent Repayment.

“People are borrowing twice as much as they were a decade ago because grants and scholarships are not keeping up with the escalating costs of college,” says Mark Kantrowitz, the publisher of FinAid.org and FastWeb.com, free online financial-aid resources. To wit: Graduates of the class of 2011 have an average of $27,200 in debt, up from about $17,600 in 2001.
to be employed full-time at a qualifying public service organization (federal, state or local government agency, entity or organization, federal, state or local non-profit organizations with a 501(c)(3) designation, military service, emergency management, public safety or law enforcement, public health services, public education or public library services, school library or other school-based services, public interest law services, early childhood education, public service for individuals with disabilities and public service for the elderly)

The other thing to consider with repayment is what your repayment term will be after you leave school. Most often, lenders will offer multiple term lengths ranging from 5 to 15 years, though some do offer longer terms. The longer your term, the lower your monthly payment will be, but the more your loan will cost over time, and vice-versa for shorter terms.
U-fi® is a registered trademark of Nelnet, Inc., for products and services provided by Nelnet Consumer Finance, Inc. You should exhaust lower-cost federal borrowing options before turning to non-federal loans. You are, of course, not limited to seeking loans or other products from U-fi.com, and are free to obtain information and loans from all other providers of student loans and related products.
For example, you could apply part of your yearly bonus from work or a tax refund to your debt, said Brian Walsh, a certified financial planner and financial planning manager at SoFi. Or you could participate in a challenge like dry January or a no-spend month to come up with the extra cash. It might feel painful to put something fun like a cash windfall toward your student loan debt, but the results can be dramatic.
If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan. Student loans can come from the federal government, from private sources such as a bank or financial institution, or from other organizations. Loans made by the federal government, called federal student loans, usually have more benefits than loans from banks or other private sources. Learn more about the differences between federal and private student loans. 
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