Zero Percent Loan

Eligible Per Scholas learners will be made aware of the Ascent Zero Percent Loan during their application and admissions process. Once a learner is enrolled in a Per Scholas End User Desk Support, IT Data Center Technician, or IT Support course, the Per Scholas team will share additional details. Once the Per Scholas team determines individuals are ready to apply for a Zero Percent Loan, Per Scholas will provide access to the online application with Ascent.

Our goal at Ascent is to help students from all walks of life and with a broad range of backgrounds get access to the education programs that interest them. We offer two possible ways to qualify for an Ascent Zero Percent Loan: on your own or with a cosigner.  As a Per Scholas learner, applying with a cosigner will not change your loan terms or improve your chances of obtaining a loan.

To see if you pre-qualify for an Ascent Zero Percent Loan, submit an application. In the pre-qualification process, we’ll conduct a soft credit check with no impact to your credit score. After being conditionally approved and confirming your loan details, a hard credit check will be run to finalize the process.

Solo applicants must be U.S. citizens, permanent residents, or DACA recipients.  U.S. temporary residents may apply with a qualified U.S. citizen or permanent resident cosigner. All applicants must pass a credit review that checks for certain derogatory credit items; for example, as of 2/24/2023, certain derogatory credit items that may disqualify you are:

• You have accounts in collection greater than $15,000 (excluding medical debt or student loan debt)
• You are individually a debtor in open bankruptcy proceeding

This list is not intended to be exhaustive, and underwriting requirements may be subject to change. However, there is currently no minimum credit history or credit score required for loan approval for the Ascent Zero Percent Loan.

While our application process asks for income and employment details, we won’t use income, employment, or your requested loan amount to evaluate your application.

Per Scholas learners enrolled in an End User Desk Support, IT Data Center Technician, or IT Support training can apply for a $3,000 Zero Percent Loan from Ascent.

U.S. temporary residents may apply with a qualified U.S. citizen or permanent resident cosigner. 

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. 

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, H-2B, 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.

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.

Yes, you can request to cancel 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. The loan amount available to Per Scholas learners is $3,000.

If you’ve already received funds, you cannot cancel your loan, but can begin repayment at any time without penalty.

You will not be charged an origination fee for Ascent’s Zero Percent Loan for Per Scholas End User Desk Support, IT Data Center Technician, or IT Support training.

Interest rate:

0% for all qualified applicants

Annual Percentage Rate (APR):

0%*

*These examples show no monthly payments while in program and for a 3 month grace period after completion, then full repayment for 36 months post grace period. See rates and repayment examples by program 

For cohorts starting 3/20 and prior:  Ascent will send funds direct to Per Scholas, which you will receive through Steady, an easy-to-use mobile app. Learners will receive three $1,000 payments, with the first arriving as early as your third week of training.

For cohorts starting 3/21 and later: Ascent will send funds to your bank account via direct deposit. Learners will receive three $1,000 payments, with the first arriving about a month after your training begins.

The second and third disbursements will occur in 4-week increments after the first disbursement.

Per Scholas encourages learners to work with the Learner Support Team and Financial Coaches in particular to budget and plan.

If you leave before completing or graduating from the Per Scholas End User Desk Support, IT Data Center Technician, or IT Support course, you will have a 3 month grace period after withdrawing before you enter repayment. If you did not receive the full $3,000 during training, your loan repayment amount will be reduced to only reflect what you’ve received. The total amount that you will repay will be equal to the funds that you received through Steady.

You have several options, including automated payments! As part of your application process, you’ll have the option to enter your payment information. Repayment begins three months after completing or exiting your Per Scholas End User Desk Support, IT Data Center Technician, or IT Support training. You’ll make monthly payments for 36 months. If after 36 months of qualifying payments a balance remains, your loan purchaser has indicated it will be forgiven.

If you do not find a job earning the equivalent of at least $40,000 per year, you may defer repayment by getting in touch with your servicer. Launch Servicing is the servicer for your Ascent Zero Percent Loan. 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 Launch online or call 1-877-209-5297. 

No, payment is not required during Per Scholas End User Desk Support, IT Data Center Technician, or IT Support training. Payment is also not required while you’re in the three-month grace period immediately following graduation or exiting your training.

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.

Zero Percent Loan borrowers have the option to enroll in autopay. There are many benefits to making automatic payments on your loan with autopay:

• Statement Credit: As of January 31, 2024, if you sign up for autopay when you apply for your loan, you will receive a statement credit on your loan balance!
• Avoid stress and late fees. With autopay, your monthly loan payments are automatic, so you’ll never have to worry about missing a loan payment or paying late fees.
• Protect your credit: Making monthly, on-time payments on a loan is one of the best ways to help maintain your credit health. Autopay protects your credit by making sure you pay your loan on time every month.

You can manage your loan and set up autopay through the AscentConnect mobile app or through Launch, your loan servicer:

• Visit and download the AscentConnect mobile app from the Apple App Store or Google Play Store and login using the same credentials as your Ascent account.
• Visit AscentFunding.LaunchServicing.com or by calling 877-209-5297.

For more on autopay, see the Automatic Payment Discount Terms & Conditions for Zero Percent Loans Only.  Automatic Payment Discount statement credit will be applied to outstanding loan balance within 90 days of first payment due date.

If you do not obtain employment earning the equivalent of at least $40,000 a year, you may contact Launch Servicing at any time to request an Unemployment/Underemployment Deferment, under which payments may be postponed. You can reach Launch online or by calling 1-877-209-5297.

If you find that you are making less than $40,000 annually in your current position or have not found employment that has a salary of at least $40,000 per year, then you may be able to take advantage of the Underemployed / Unemployed deferment option.

In order to use this option, please follow these steps:

• DEFERMENT BY CALLING: Call the loan servicer, Launch Servicing at 1-877-209-5297. Please have your 9-digit account number (for Launch) ready or the last 4 of your Social Security Number. The representative will ask you for your information. Once they are able to verify your identity, you will need to request with the representative that you want to use the Underemployed/Unemployed deferment option. From there, the representative will ask you some questions, and once answered satisfactorily, your account may then be put into deferment. It can take up to 10 business days for Launch to process.
• DEFERMENT VIA POSTPONEMENT FORM: Visit the website AscentFunding.com/Postponement and fill out the request form. Please have your 9-digit account number (for Launch) ready and the last 4-digits of your Social Security Number. For the question, “What type of Ascent loan do you have?” select “Bootcamp – Zero Percent Loan.” Under Reason for Deferment – Zero Percent Loan check the box for Unemployed or underemployed and fill in applicable fields listed below. Press “submit” once the form is filled out and upload the applicable documentation in the portal. It can take up to 10 business days for Launch to process and your account may then be put into deferment.

You will need to reach out every 3 months for the deferment to continue. You may request a deferment up to 30 days before your payment due date.

Please note this process is subject to change and Ascent will do its best to update any new procedures in a timely manner. You can always reach out to Launch Servicing directly for the most updated deferment information. They can be reached at 1-877-209-5297 or https://ascentfunding.launchservicing.com/.

Please note that if your circumstances do not fit the criteria for the Underemployed/Unemployed deferment and you find that you are unable to make payments, please contact the loan servicer, Launch Servicing for additional forbearance options. They can be reached at 1-877-209-5297 or https://ascentfunding.launchservicing.com/.

Richland State Bank, member FDIC, is the lender for all Ascent bootcamp loans (including the Zero Percent Loan).

No, they’re consumer loans to help pay for tuition or living expenses 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.
• Ascent’s private college loans may be eligible for cosigner removal, while the bootcamp loans are not.