Fund Your Future

No, they’re consumer loans to help pay for tuition or cost of living at our partner schools.

There are several key differences, and we encourage applicants to perform their own research into this topic. However, some of the high-level differences between an Ascent consumer loan for bootcamps and a private student loan include:

• For private student loans, interest paid may be tax-deductible. For consumer loans for bootcamps, interest is not tax-deductible. Please consult your tax advisor to determine if this applies to you.
• Consumer loans for bootcamps may be treated differently in the event of a borrower bankruptcy.
• Private student loans may typically only be used for qualified education expenses as defined by the IRS.

Yes, you can add a cosigner to your loan. There are two ways to qualify for an Ascent bootcamp loan: on your own, or with a cosigner. Depending upon your credit health, a cosigner might be required. Cosigners may strengthen your application’s overall credit health. In some scenarios, adding a cosigner may reduce your interest rate and lower your payments. If you’re concerned about your eligibility for an Ascent loan, consider adding a cosigner with strong credit health.

You can choose to add a cosigner before you submit your loan application, or may be given the option to add a cosigner after you apply.

If you’d like to add a cosigner when you apply, you can select this option in the application. If your cosigner is with you, they can start their portion of the application right away. If not, we’ll send them an email asking them to complete their part. Your cosigner’s portion of the application will look very similar to yours.

We’ll keep you and your cosigner updated on the status of your application throughout the process. You’ll receive an email or a notification in the application if you or your cosigner have any required steps to take.

You will be charged an origination fee of 5.0%. This will be added to the amount you borrow and is included in the total loan principal amount you finance. It helps cover the administrative fees associated with originating the loan. It is the only fee charged for taking out this loan, and it affects your loan’s Annual Percentage Rate. Washington residents will have a 4% origination fee applied to the first $20,000 of the borrowed amount, and a 2% origination fee applied to any amount borrowed over $20,000. See example

Yes, you can request to cancel or decrease your loan after you apply. Log in to your Ascent account at bootcamp.ascentfunding.com or reach out to [email protected] to request changes to your loan.

If funds haven’t been sent to your school, Ascent can easily process a request to cancel or decrease your loan.  If funds have already been sent to your school, we’ll follow your school’s refund policy.

Please note that Ascent can’t increase your loan amount after you apply. Instead, you may be able to cancel your loan and reapply for a greater loan amount.

Our goal at Ascent is to help students from all walks of life and with a broad range of backgrounds get access to the programs that interest them. We offer two possible ways to qualify for an Ascent loan: on your own or with a cosigner.

To see if you pre-qualify for an Ascent bootcamp loan, submit an application. In the pre-qualification process, we’ll conduct a soft credit check with no impact to your credit score. In addition to learning more about your eligibility, you can also see the rates and terms you pre-qualify for.

Applicants must be U.S. citizens, permanent residents, or DACA recipients with established credit history & no outstanding education loan defaults. U.S. temporary residents may apply with a creditworthy cosigner that is a U.S. citizen or U.S. permanent resident.

Adding a cosigner can help strengthen your application’s overall credit health, and may even help lower your loan’s interest rate, APR, or monthly payments.

Yes. Individuals may apply as a borrower or cosigner based on their citizenship status as follows:

• U.S. Permanent Residents – as a solo borrower, as a cosigner or as a borrower with a qualified cosigner.
• Deferred Action for Childhood Arrival (DACA) status – as a solo borrower or as a borrower with a qualified cosigner.
• U.S. Temporary Residents – as a borrower with a qualified cosigner only.

Documentation requirements: The following are documentation will be required to verify your individual resident status:

• For U.S. Permanent Residents: Provide a Permanent Resident Card.
• For DACA status: Provide documentation from the U.S. Department of Homeland Security / U.S. Citizenship and Immigration Services (USCIS) that indicates DACA status that does not expire within 6-months of the end of the enrollment period for which the loan is being requested.
• For U.S. Temporary Residents:

A VISA that does not expire within 6-months of the end of the enrollment period for which the loan is being requested. with an acceptable category as follows:  F-1, F-3, G Series, H-1B, H-1C, H2-B, H-3, J-1, L-1, M-1, M-3, T-1, TN

OR

An I-20 Form (pages 1 & 2 and signed by the school) and an unexpired passport from country of origin.

OR

Form I-797, Notice of Action and unexpired passport from country of origin from an eligible Temporary Protected Status country from this list: https://www.uscis.gov/humanitarian/temporary-protected-status.

You can submit an application and become pre-qualified as early as 90 days before your program. Pre-qualification allows you to preview your rates and loan options. In the pre-qualification process, we’ll conduct a soft credit check with no impact to your credit score. Before accepting a loan option, please ensure you have enrolled in your program.

Yes, you can prepay your loan at any time without penalty. You have the flexibility to make early payments or fully pay off your loan without prepayment fees.

You can get a 1.00% interest rate reduction (depending on loan terms) if payments on your Ascent loan are made by automatic payment. The Automatic Payment Discount is available if you are enrolled in automatic payments from your personal checking account and the amount is successfully withdrawn from the authorized bank account each month. (See Automatic Payment Discount Terms & Conditions.)

Your interest rate is the base cost of borrowing money for the duration of your loan and is a percentage of the principal loan amount. It can be fixed (it will not change) or variable (it could change over time). Variable interest rates can increase or decrease throughout the life of your loan, which may result in your monthly payment changing over time. All Ascent loans for Montes HealthCare College are fixed rate – your rate won’t go up!

To see the status of your loan application, visit your Ascent account dashboard at bootcamp.ascentfunding.com. We’ll also send you emails throughout the process to keep you updated. You can save your progress in the application and return to it at any time.

No, you can reduce your total cost by making early payments! This is a benefit we hope our borrowers take advantage of. When you apply for a loan, we show you as many details as we can upfront. One of those details is the total cost of the loan, which is the total amount you’ll pay over the scheduled lifetime of the loan. Our calculation of the total cost assumes that you will pay off your loan by making monthly on-time minimum payments for your entire loan term, which is either 3 years (36 months) or 5 years (60 months). The total cost includes (1) the origination fee of 5% of your loan amount, (2) the loan amount, and (3) the interest accrued over the lifetime of the loan.

With our loans, you can make early payments or fully pay off your loan at any time with no prepayment fees. Many of our borrowers graduate from their programs, land jobs, and pay off their loans early! This is a financially smart move, because if you make early payments, you’ll accrue less interest over the lifetime of your loan. In summary – we don’t hold you to the total cost you see in your loan offers. If you make early payments, you can reduce the interest you accrue, which reduces your loan’s total cost!

You can get a 1.00% interest rate reduction (depending on loan terms) if payments on your Ascent loan are made by automatic payment. The Automatic Payment Discount is available if you are enrolled in automatic payments from your personal checking account and the amount is successfully withdrawn from the authorized bank account each month. Any loans originated prior to March 11, 2024 will receive a 0.25% interest rate discount if payments are made automatically. Any loans originated on or after March 11, 2024 will receive a 1.00% interest rate discount if payments are made automatically.  (See Automatic Payment Discount Terms & Conditions.) 

Richland State Bank (RSB), Member FDIC, is an Ascent Funding bootcamp and career loan lender, and prior to January 31, 2021, originated all Ascent college loans.

DR Bank, Member FDIC, has been an Ascent Funding college loan lender since July 5, 2023, and an Ascent Funding bootcamp loan lender since November 16, 2023.

12 month loan term

12.50% interest rate – Interest Only, Immediate Repayment
13.00% interest rate – Minimum Repayment
18.42% – 21.88% estimated Annual Percentage Rate

24 month loan term

13.50% interest rate – Interest Only, Immediate Repayment
14.00% interest rate – Minimum Repayment
17.38% – 18.50% estimated Annual Percentage Rate

36 month loan term

6.99 – 15.75% interest rate – Interest Only, Immediate Repayment

7.25 – 15.99% interest rate – Minimum Repayment

7.50 – 16.25% interest rate – Deferred

9.15% – 19.26% estimated Annual Percentage Rate

60 month loan term

8.75 – 16.25% interest rate – Interest Only, Immediate Repayment

9.00 – 16.50% interest rate – Minimum Repayment

9.25 – 16.75% interest rate – Deferred

10.37% – 18.51% estimated Annual Percentage Rate

To see repayment examples available for a specific program, please reference the above loan calculator.

You have several options, including automated payments! After you apply for a loan, we’ll help you set up your repayment account. You’ll make your first payment about one month after your program starts (interest-only repayment, immediate repayment or minimum repayment).

You’ll make monthly payments until your loan is fully repaid, and we’re happy to say there’s no prepayment penalty or fee for early payments on Ascent loans. You can choose to pay the minimum monthly payment, or you can make larger payments. You have the flexibility to pay off your loan anytime before your loan term ends.

Ascent offers several repayment options.

FOR THE SHORT TERM LOAN:

• Minimum Repayment option allows you to make minimum payments while you’re in school & for three months after. You’ll start making full payments about three months after your program ends.
• Interest-Only Repayment option allows you to hold on to more of your savings during your training. You’ll start making low, interest-only payments about one month after your program starts and continue those payments for three months after the program ends. After this interest-only period, you’ll start making full payments (interest + principal).
• Immediate Repayment option allows you to quickly get started on repayment. You’ll start making full payments about one month after your program starts.

FOR THE STANDARD LOAN:

• Deferred Repayment Loans allow you to make no payments while you’re in school & for three months after. You’ll start making full payments about three months after your program ends.
• Interest-Only Repayment Loans allow you to hold on to more of your savings during your training. You’ll start making low, interest-only payments about one month after your program starts and continue those payments for three months after the program ends. After this interest-only period, you’ll start making full payments (interest + principal).
• Immediate Repayment Loans allow you to quickly get started on repayment. You’ll start making full payments about one month after your program starts.
• Minimum Repayment option allows you to make minimum payments while you’re in school & for three months after. You’ll start making full payments about three months after your program ends.

Launch is the loan servicer for Ascent’s loans. This means Launch will collect your monthly payments during the repayment phase of your loan.

Need to pay your loan? Have a question about repayment on an existing loan?

Visit AscentFunding.LaunchServicing.com or call 877-209-5297.

For the Short-Term Loan: Once you’ve begun full repayment (after the minimum repayment or interest only period), your loan term will be 12 or 24 months. To see repayment examples available for a specific program, please reference the above loan calculator See example

For the Standard Loan: Interest-Only Repayment, Immediate Repayment, Minimum Repayment, and Deferred Repayment Loans: Once you’ve begun full repayment (after the grace, interest only and/or minimum repayment period), your loan term will be 36 or 60 months. See example

While it is our hope that every student graduates and finds an awesome job in their chosen field, we understand that other circumstances may intervene.

If you are owed a refund by your school, Ascent will follow your school’s refund policies. Please refer to your school’s refund policies and student agreements. If your school offers an employment guarantee refund, the terms and requirements set therein, as well as the decision to extend a refund in such a scenario, is solely at the discretion of your school. Please contact your school for any questions regarding an employment guarantee refund or a standard refund.

Regarding your borrowed tuition funds:

• You are responsible for repaying the full amount you borrow, plus accrued interest and fees.
• If you are owed a tuition refund by your school, the refund transaction will be made to Ascent in the amount of the refund due (but in no event greater than what we paid to the school on your behalf). If there is a balance on your loan after any applied refund, you will be required to immediately start making monthly payments for the balance.

You are responsible for repaying the full amount you borrow, plus accrued interest and fees.

If you are owed a tuition refund by your school, Ascent will follow your school’s refund policies. Please refer to your school’s refund policies and student agreements. Please contact your school for any questions regarding a standard refund.

If you are owed a tuition refund by your school, the refund transaction will be made to Ascent in the amount of the refund due (but in no event greater than what we paid to the school on your behalf). If there is a balance on your loan after any applied refund, you will be required to make monthly payments for the balance.

For Immediate Repayment, you’ll continue to make interest and principal payment as you did before.

For Interest-Only, Deferred, and Minimum Repayment options, you’ll still have three months of interest-only, no, or minimum repayments, based on the plan you selected.

• Interest-Only Repayment Option: Monthly interest payments are required roughly one month after your program starts.
• Immediate Repayment Option: Yes, full payments (interest + principal) are required roughly one month after your program starts.
• Minimum Repayment Option: Yes, payments are required roughly one month after your program starts.
• Deferred Repayment Option: No, you will make no payments in school or for the three months after you complete the program. Roughly three months after your program is done, you will begin making full payments (principal + interest).