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Zero Percent Private Education Loan

Ascent helps Western Governors University ReNEW Fund participants cover their tuition with a 0% interest loan.

A zero interest monthly payment plan built for you

With a Zero Percent Private Education Loan, you won’t pay anything until at least three months after you complete or exit your Western Governors University program. Once you begin repayment, you can make monthly payments without any interest – and defer payment if you’re unemployed. There will be 0% interest for the duration of the loan.

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Flexible repayment options

Defer your repayment every 3 months for up to 60 months or 84 months until you are earning an annualized total income of at least $60,000. 

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Fixed monthly payments

Once you begin repayment, you’ll make low, fixed monthly payments for 60 months or 84 months, depending on your loan term.

Preview your monthly payments

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

Please select a program

Your example Zero Percent Private Education Loan

0 10000

You can borrow up to $20000 for this program.

0 10000

You can borrow up to $0 for living expenses for this program.

6.5 13.5
Monthly in-program payments
$83
Monthly post-program payments
$230
Total loan amount
$5,000
Total cost of loan Tooltip
This total cost includes the total loan amount, origination fee, and estimated interest.
$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 60 months or 84 months post-program.
Monthly in-program payments
$83
Monthly post-program payments
$230
Total loan amount
$5,000
Total cost of loan Tooltip
This total cost includes the total loan amount, origination fee, and estimated interest.
$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 60 months or 84 months post-program.
Piggy bank

How to use Ascent to pay for your program

  1. Submit an application to see if you pre-qualify without any impact to your credit score
  2. Preview your repayment options and choose the plan that works best for you
  3. Ascent confirms your eligibility with a hard credit check, and your school confirms your enrollment
  4. Ascent sends your tuition to your school so you can focus on your program

Frequently asked loan questions

What is the ReNEW Fund?

The ReNEW Fund is a philanthropic fund created to support students to affordably finance their college education and secure quality jobs, and it has partnered with Ascent Funding to make Zero Percent Private Education Loans available for eligible students.

To learn more about the ReNEW Fund program at Western Governors University, please contact The Financial Aid Office at [email protected] or visit www.wgu.edu/renewfund.

How much can I borrow for tuition?

Each year, between $2,000 to $20,000 and not to exceed the total cost of attendance as certified by Western Governors University.

Will I qualify for an Ascent Zero Percent Private Education Loan?

Your program has created very flexible underwriting terms described below making it very likely that you will qualify for an Ascent Zero Percent Private Education Loan on your own without the need for a cosigner.  Applying with a cosigner will not change your loan terms or improve your chances of obtaining a loan, unless you are a U.S. Temporary Resident, in which case a U.S. citizen or permanent resident cosigner is required. 

To see if you pre-qualify for an Ascent Zero Percent Private Education 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 6/1/2024, 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); and/or
  • 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 Private Education loan. 

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

How do I apply for the Ascent Zero Percent Private Education Loan?

Your school (i.e. WGU) will provide you with an intake form link to assess your eligibility and will provide eligible individuals with a counseling session. After successfully completing these steps, your school will give you a link to learn more about the Ascent Zero Percent Private Education Loan and, if you are ready, you can go ahead and apply 

How and when will I repay my Zero Percent Private Education Loan?

You have several options, including automated payments! As part of your application process, you’ll have the opportunity to enter your payment information. Repayment begins three months after completing your program. You’ll make monthly payments for the length of your selected repayment term, after completing or terminating your program. If you make qualifying payments for the full length of your repayment term and a balance remains, The ReNEW Fund has indicated it will be forgiven.

If you are not earning a total income of at least $60,000 annually, you may defer repayment by getting in touch with your servicer and requesting deferment. Launch Servicing (“Launch”) is the servicer for your Ascent Zero Percent Private Education 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 at 1-877-209-5297.  

Are payments required while I am in program?

No, payments are not required during your program and during the three-month grace period immediately following completion or termination of Western Governors University program.

What is the Zero Percent Private Education Loan’s origination fee?

You will not be charged an origination fee for the Ascent Zero Percent Private Education Loan. 

What is the Zero Percent Private Education 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 60 months or 84 months post grace period, based on the selected loan term.

Will my Zero Percent Private Education Loan be refunded if I don’t get a job?

If you are not earning a total income of at least $60,000 annually, you may contact Launch Servicing at any time to request an Unemployment / Underemployment Deferment under which payments may be postponed. 

What if I don’t complete my program?

You will have a three-month grace period after withdrawing from your program before you enter repayment. The first payment is due shortly thereafter (typically within 30 to 45 days from the end of the grace period), after which monthly payments are required over 60 months or 84 months (your selected repayment term). 

See your school’s refund policy for details around tuition obligations.   

How can I defer my payments?

If you are not earning a total income of at least $60,000 annually, then you may be able to take advantage of the Underemployed / Unemployed deferment option by contacting Launch Servicing.

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 digits 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 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 and provide documentation 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/. 

 

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 Private Education Loan after I apply?

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. 

Can I pay off my Zero Percent Private Education 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-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 

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 Zero Percent Private Education Loans.  Ascent acts as the origination processor for the Zero Percent Private Education Loans processing loan applications on behalf of the bank. 

Can I set up automatic payments for my Ascent Zero Percent Private Education 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 $25 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, which can affect your credit. 
  • 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. 

For more on Autopay, see the  Automatic Payment Discount Terms & Conditions for Zero Percent Private Education Loans.  An Automatic Payment Discount in the form of a $25 statement credit will be applied to outstanding loan balance within 90 days of first payment due date.