Zero Percent Loan

Pay for living expenses with a 0% interest loan from Ascent while enrolled in a Per Scholas IT Support course at select campuses.

A zero interest monthly payment plan built for you

With a Zero Percent Loan, you won’t pay anything until at least three months after you complete or exit your Per Scholas IT Support training. Once you begin repayment, you can make fixed monthly payments without any interest – and defer payment if you’re unemployed. There is 0% interest for the duration of the loan, with no late fees or origination fees, either. Per Scholas learners have the opportunity to apply for a loan in the amount of $3,000.

Flexible repayment options

Defer your repayment every 3 months for up to 36 months until you land a job earning the equivalent of at least $40,000 per year.

0% interest rate

You won’t be charged any interest, late fees, or origination fees on your loan.

Fixed monthly payments

Once you begin repayment, you’ll make low, predictable monthly payments for 36 months.

Preview your monthly payments

Budget for your Zero Percent Loan from start to finish. Check out the example below to see possible monthly payments for your loan.

Your example Zero Percent Loan

Tuition Loan Amount

0 10000

You can borrow up to $3000 for this program.

Monthly in-program payments

$83

Monthly post-program payments

$230

Total loan amount

$5,000

Total cost of loan

$6,500

Interest rate

6.5%

APR *

5.0%

*APR - Annual Percentage Rate

This example shows no monthly payments while in program and for a 3 month grace period after completion, then full repayment for 36 months post-program.

Loan Term

36 Months 36 full monthly payments

Monthly in-program payments

$83

Monthly post-program payments

$230

Total loan amount

$5,000

Total cost of loan

$6,500

Interest rate

6.5%

APR *

5.0%

*APR - Annual Percentage Rate

This example shows no monthly payments while in program and for a 3 month grace period after completion, then full repayment for 36 months post-program.

Frequently asked loan questions

How much can I borrow?

Per Scholas learners enrolled in an IT Support training can apply for a $3,000 Zero Percent Loan from Ascent.

Will I qualify for an Ascent Zero Percent Loan?

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 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.

How do I apply for the 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 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.

If I’m approved for the Zero Percent Loan, how and when do I receive my $3,000?

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

How and when will I repay my Zero Percent Loan?

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 IT Support training. You’ll make monthly payments for 36 months. If after 36 months of qualifying payments a balance remains, 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.

Are payments required while I am in training?

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

What is the Zero Percent Loan’s origination fee?

You will not be charged an origination fee for Ascent’s Zero Percent Loan for Per Scholas IT Support training.

What is the Zero Percent Loan’s interest rate?

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

What if I don’t graduate or complete my training?

If you leave before completing or graduating from the Per Scholas 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.

What if I don’t get a job paying $40,000 per year?

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.

How can I defer my payments?

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.
DEFERMENT VIA PORTAL: Visit the website AscentFunding.LaunchServicing.com to set up an account in the Launch borrower customer portal. By selecting Register Now, fill out the prompts and requested information to proceed. After logged in, reach out to the Launch Customer Support Team via their internal messaging system. In a message, advise that you want to initiate the use of the Underemployed/Unemployed deferment option. A set of questions will either be sent via email or via a telephone call. Once answered, Launch may, set the account in deferment.

You will need to reach out every 3 months for the deferment to continue.

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/.

What if the Underemployed/Unemployed deferment option doesn’t fit my scenario?

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/.

Can I cancel or change my Zero Percent Loan after I apply?

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.

Can I pay off my Zero Percent Loan faster than the initial term?

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.

What is the status of my application?

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.

Can non-U.S. citizens apply?

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-3, J-1, L-1, M-1, M-3, T-1, TN

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

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.

Can I add a cosigner?

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.

Who is Richland State Bank and how is it related to Ascent?

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

Are Ascent bootcamp loans (including the Zero Percent Loan) student loans?

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

Given that Ascent bootcamp loans (including the Zero Percent Loan) are not private student loans, what are some of the key differences between consumer loans for bootcamps and private student loans?

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.