To be eligible for the Ascent student loan, you need to provide various documents and information. These include identity proof, which can be your PAN Card or Employee Identity card, along with your Social Security Number. Also, details about your employment, school information, and estimated financial aid are required. It's also important to provide proof of your income and offer contact details for one reference.
Ascent Education Loan for Abroad Studies
International NBFC
7 days Loan Processing Time
Margin
NA
Processing Fees
0%
Collateral
NA
Non Collateral
Upto 1.5 Crore
Repayment Tenure
Upto 10 Years
Cosiger Needed
Yes
Collateral Loans
NA
Non Collateral Loans
Upto 1.5 Crore
Features of Ascent
Education Loan Abroad
Ascent Funding wants to help millions of students achieve their dream of studying abroad. They believe that loans should open doors, not close them. At Ascent, they understand that students are more than just a credit score. That's why they give students the option to apply for education loans with or without a cosigner. Whether you're aiming for undergraduate, graduate, coding boot camps, or accelerated learning programs at recognized universities, you can apply for an Ascent Education Loan to make a smart investment in your education.
Loan Margin: NA
Processing Fees: NA
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹1.5 Crore (Non Collateral) |
| Margin money | NA |
| Interest rate | 9.8% |
| Processing fee | 0% |
| Processing time | 7 Working Days |
| Loan tenure | Upto 10 Years |
| Prepayment charges | Interest to be paid during the moratorium period. EMI starts after the completion of course + 6 months. |
| Countries covered | Ascent offers abroad education loans to study in USA only |
| Moratorium | Course Duration + 6 months. |
Benefits of Avanse Education Loan
Zero Fees Throughout the Process
With Ascent, you won't be charged any application, origination, or disbursement fees and secure your loan through the online hassle-free process.
No Penalty for Prepayment
You won't face any penalty fees if you prepay your loan. If you choose to pay off your loan early, you'll get more affordable monthly payments after graduation.
Flexible Education Loan
Ascent provides flexible education loans which helps them in pausing or reducing their payments. They also provide Progressive Repayment Option, to provide you with the option to make reduced installments after graduation. Ascent also provides substantial deferral and forbearance options, if you qualify for them.
Establish your own credit
If you are a U.S. citizen, permanent resident, and hold DACA status, you have the option to release the cosigner after making twelve (12) consecutive full principal and interest payments on time or an equivalent prepayment amount, meeting other specified criteria. Additionally, there is also an outcomes-based non-cosigned loan option for juniors and seniors who are U.S. citizens, permanent residents, or DACA students, provided that you meet certain eligibility requirements.
Flexible Repayment Options
Choose from repayment options of 5, 7, 10, 12, 15, or 20 years, depending on your preference.
How To Apply For Ascent
Education Loan For Abroad Studies?
You can get in touch with our team of experts by filling out the form on our website. Lorien will schedule a callback with you and guide you through the process.
From helping you upload documents online to presenting it to the banks, Lorien will help you throughout the application process.
Once all your documents are uploaded & KYC is done, you can expect your loan to get sanctioned within a few working days.
Why Choose Lorien To Get Education Loan From Ascent?
Higher Chances of Approval: Generally, banks dismiss education loan applications if they find any missing documents, property issues, or other issues. But with Lorien, you have access to experts who can reach out to the bank and help you resolve your queries on time.
Ease of Use: Students can easily contact us by filling out a form on the website and our most trusted experts will reach out to them to help them with any query. The process is simple and efficient to make your study abroad dreams a reality.
100% Free Assistance: Our services are free of cost and we do not charge our students for helping them apply for their education loans.
Quicker Loans: Our experts make sure that your education loan is sanctioned as early as possible. We also keep track of the application and make sure that all the requirements from your end are fulfilled.
Build your dream career with us.
Fill this form and our experts will contact you
Eligibility Criteria For Ascent Education Loan Abroad
Eligibility Criteria for Borrower
- Ascent considers various factors like creditworthiness, school, program, graduation date, major, tuition, and fees for providing loans
- They provide loans to both Undergraduate and Postgraduate college students enrolled at least half-time in a qualifying school
- If you're a student borrower without a cosigner and have at least two years of credit history, you must meet Ascent's income standards
- Student borrowers need a minimum gross yearly income of $24,000 for the last two years, with a monthly debt-to-income ratio below 50%
Eligibility Criteria for Co-Borrower
- Cosigners need to have a minimum gross yearly income of at least $24,000 for the last two years
Eligible Courses
- MBA
- General & PhD
- Dental
- Medical
- Law
For Applicants:
- Identity proof (PAN Card or Employee Identity card)
- Social Security Number
- Information of your Employment
- School information
- Estimated financial aid
- Your income proofs
- Contact details for one reference
International Students/U.S. Temporary Residents:
- You must have a valid VISA that does not expire at least 6 months within the end of the enrollment period for which you're requesting the loan. The acceptable VISA categories are F-1, F-3, G-1, H-1B, H-1C, H-2B, H-3, J-1, L-1, M-1, M-3, T-1, and TN
- Or, you can provide an I-20 Form (pages 1 & 2, signed by the school) along with an unexpired passport from your country of origin
- Or, you can provide Form I-797, Notice of Action, and an unexpired passport from your country of origin if you are from an eligible Temporary Protected Status country
For DACA Status:
- Document from the U.S. Department of Homeland Security/U.S. Citizenship and Immigration Services (USCIS) confirming your DACA status. Ensure that your DACA status remains valid for at least six months after the completion of the enrollment period for which you're applying for the loan
For Permanent Residents of the U.S:
- Permanent Residency Card
Documents Required
Repaying the Loan
If the borrowing is facing financial difficulties, the lender may choose to pause payments. Ascent offers three different plans while the borrower is in college: fully deferred, interest-only, and a minimum repayment of $25.
Variable-rate graduate student loans might have a repayment period of up to 20 years, while some variable-rate loans may have a 15-year repayment period, along with fixed-rate loans. The minimum loan amount is $2,001, and students need to be enrolled at least half-time at a qualifying school.
Expenses Covered in Ascent Education Loan
- Tuition fees
- Hostel and mess fees
- Examination, library, and laboratory fees
- Insurance premium
- Caution deposits, building funds, and refundable deposits
- Reading material and uniform
- Travel expenses
- Laptop
- Admission acceptance fees
- Other expenses
FAQs
Bringing answers to your questions
What are the eligibility criteria for Ascent's education loans for studying abroad?
What is the interest rate on education loans for studying abroad, and how is it calculated?
Ascent offers education loans with very low-interest rates. The exact interest rate may vary, and it is advisable to contact them directly or visit their official website for the most up-to-date information.
What is the process for applying for an Ascent education loan for studying abroad?
You can apply for an Ascent education loan for studying abroad by getting in touch with Lorien. Fill out the form on our website, and our experts will schedule a callback with you. They will guide you through the application process, help you upload necessary documents online, and present the application to Ascent. Once all documents are uploaded and KYC is done, the loan is expected to be sanctioned within a few working days.
Does Ascent offer any special benefits or interest rate reductions for exceptional academic performance?
Ascent's education loans are known for their low-interest rates, providing financial support for students aspiring to study abroad. While Ascent may not explicitly mention special benefits for exceptional academic performance, Lorien, as your trusted education loan partner, works diligently to ensure you access the most favorable terms. By leveraging our expertise and relationships with financial institutions, Lorien assists you in securing the best interest rates available. Our commitment is to make your study abroad journey financially viable, offering personalized support to enhance your overall experience.
Is there a co-applicant or guarantor required for the loan?
Yes, a co-applicant is required for Ascent's education loan, and it is typically the student's parent(s). In certain cases, a guardian, relative, or siblings can act as the co-applicant.
What collateral or security is required for the loan?
Collateral requirements may vary based on individual circumstances and the loan amount. Lorien, as your dedicated education loan partner, can facilitate this communication, ensuring you receive accurate and personalized information tailored to your specific needs. Contact us to navigate the intricacies of collateral or security for your Ascent education loan, making your application process smoother and more transparent.
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