@Maguitos50 these calculators can be a great resource and a starting off point to get a customized estimate of what a college may cost based on your situation, but it’s important to make sure you are clear on the limitations and are also confirming accuracy.
I also will direct you to our tool that helps to calculate not just the cost of your college, but an estimated ROI as well. College Degree ROI Calculator | Bright Futures™ Engine | Ascent Funding
A topic that I’d like us to discuss is private student loans. Can you speak more about these loans? When should students consider them and how should they choose the right one for their needs?
@CC_Sorin of course!
And finally, 6) appeal for more aid if necessary!
What types of loans does Ascent offer and what are current rates?
Do you have strategies on how to appeal for more aid?
@AllieAscentUP, what are some strategies for students to ensure they are getting the most out of available aid options?
Does Ascent offer any scholarships?
@CC_Sorin of course!
Once you’ve exhausted your other options (federal funding, scholarships, grants, work study), here’s what to keep in mind when shopping for a private student loan that works for you and your family.
Interest, Fees, & APR: The total cost of a loan varies based on interest rate. There may also be fees like origination fees, late fees, etc… When comparing loans, APR (Annual Percentage Rate) is a helpful number that factors these things in to represent the actual annual cost of the loan.
Repayment Options: Because of interest accrual, how and when a loan is paid back matters. Different loan providers will offer different repayment options which may include loan terms of varying lengths. Consider how long it will realistically take to repay the loan value and how customizable the loan terms are.
ACH Benefits: ACH, or Automatic Clearinghouse, refers to setting up automatic loan payments. Since ACH decreases the risk of making late payments, many loan providers offer benefits for signing up
Graduation Benefits: Loan providers want to see you graduate and succeed! Check to see if they offer rewards for making smart money moves and cash back at graduation to celebrate your accomplishment with you!
Grace Periods: Different private loans also come with varying grace periods, or a short timeframe post-graduation when you are not required to make payments. A longer grace period can help students transition from school to the workforce and start repayment with lower stress.
Cosigner Support: Cosigning a loan is a big financial responsibility! Different loans offer different credit requirements, benefits, and procedures around cosigning a loan. Some also offer options that don’t require a cosigner at all!
Success Services: Sometimes it can feel like you’re totally on your own during the loan process, as well as how to succeed in, and after, your education. Seek out lenders who are invested in your success and provide resources to ensure you reach your fullest potential!
You should always do your homework and compare lenders. Here is some more info on how Ascent stacks up: Compare Private Student Loan Lenders: Top Options | Ascent Funding
@CC_Sorin Ascent offers a variety of college loans including undergraduate co-signed and non-cosigned loans, parent loans, loans for international students, DACA students and graduate school loans.
For a limited time we’ve discounted our rates, starting at 3.69% APR*
*Learn more here: Cosigned or Non-Cosigned Loan Options - Ascent Funding
@CC_Sorin Ascent has given away over $332,000 in scholarships to date!!
Here is a full list of all of our current/active no-essay scholarships.
And as a reminder, just for being an active participant in this forum tonight, you are eligible for a $500 scholarship! More info here: Ascent & College Confidential’s $500 Guide to Paying for College Scholarship Giveaway | Ascent Funding
@AllieAscentUP, what are some strategies for students to ensure they are getting the most out of available aid options?
On the topic of scholarships, we hosted a great webinar a few weeks ago titled “Cracking the Code on Scholarships” in partnership with College Confidential and Road2College. You can view the recording here and I love some of these myths we “debunked” in that conversation:
Top misconceptions about applying for scholarships:
“Only top achievers & athletes get scholarships” – While being a star athlete or straight A student can be a great thing to mention when applying for scholarships, there are plenty of opportunities out there if that’s not you. Researching for more niche scholarships that align with your unique passions, or entering more content style scholarships could be the best way to go. Plus, many scholarships are focused more on the financial need of the applicant, meaning federal and government scholarships may be a great fit for you!
“Scholarships are too competitive, so don’t bother applying!” – Applying for financial aid may feel competitive, but researching and applying for scholarships that align with your talents to boost you toward the top of the applicants. Applying for local scholarships will also mean less competition.
“Start researching for scholarships your senior year of high school” – While there may be plenty of scholarship opportunities out there during your senior year, there are scholarships available to you as early as your freshman year and plenty to keep exploring throughout your college journey.
“You must be a great essay writer to win scholarships” – Essay scholarships can feel daunting, and you should always invest time and effort into your submissions, but showcasing your creativity and who you are as an individual in your essay can be just even more valuable.
@CC_Sorin to get the most out of all available aid options, my recommendation is that families and students:
@momofboiler1 this is tricky because every school is different but in addition to being super aware of deadlines and acting quickly, make sure that you have all appropriate documentation to support your appeal, write a clear letter with a strong case and continue to follow up. Don’t be afraid of being persistent through phone calls, emails and even in-person meetings, if they will allow it.
Some examples of documentation to consider with your appeal may include:
We are now at time so I want to THANK @AllieAscentUP for taking the time and sharing such valuable tips and strategies to help our students and parents make an informed decision on how to best pay for college.
@AllieAscentUP thanks for answering our questions and we look forward to seeing you again soon!
@CC_Sorin That was a blast 
, thanks for having me here tonight and feel free to message me if you have more questions!