Skip links

Ascent vs Discover: Student Loan Comparison

If you were trying to decide between Discover and Ascent when searching for a private student loan to pay for your school.

You must use up all of your federal loans before looking into private ones, and if you have, start making plans for your life after college.

Discover provides some of the greatest customer service and interest rates in the market, but only if you have a co-signer.

Ascent is one of the top private lenders since it accepts most borrowers regardless of whether they have a co-signer or not, and it offers various choices like credit-based and future income-based financing.

Here is the full comparison:

Ascent vs Discover: Who Has Better Terms?

Interest RatesFixed APR: 3.97% To 11.89%.
Variable APR: 1.47% To 9.05%.
Fixed APR
Variable APR
Loan Amounts$2,001 – $200,000$1,000 minimum. Up to 100% of the school-certified cost of attendance
Term Duration5, 7, 10, 12, or 15 years15 years undergraduate students; 20 years graduate students.
Minimum Credit Score680Does not disclose
Income Requirementsno minimum income requirementDid not disclose
Financeive’s rating5/54/5

Who Has Better Rates Discover vs Ascent?

Ascent has cheaper rates than Discover especially if you have a co-signer since you can reduce your rate by %11 with Ascent.

Apply for both Ascent and Discover to see which one could give you the best rates and terms with better repayment options (especially after graduation).

Ascent charges higher interest rates for loans that aren’t cosigned, but you may always refinance to a lower rate once you’ve graduated and gotten a job.

Is an Ascent or Discover Student Loan More Easily Obtained?

Ascent accepts most borrowers with different financial status with different terms and options like credit-based and future income-based.

Choose a credit-based non-co-signed loan over a prospective income-based loan for the best interest rate in this case.

Discover doesn’t disclose specific details about what it takes to qualify for its student loans so you can pre-qualify on Discover’s website to check if you meet the requirements. The lender will explain its decision if Discover rejects your request for a student loan.

“Ascent enabled me to obtain my own loan without the assistance of others,” explains Nikara M. from Western Washington University.

Choose Ascent If You Don’t Have a Cosigner

Ascent and Discover have relatively close interest rates if you apply without a cosigner. The difference is Ascent has a co-signer release option, but Discover does not. 

As Ascent states, “You may be able to remove your cosigner after two years if certain criteria are met. We’ll go into this a little more later.”

Choose Ascent If you Need a Long Forbearance Period

Ascent has a 24-month forbearance period, which is much longer than Discover’s 12-month forbearance period.

As a result, in the event that you lose your job, are placed on furlough, or accumulate more debt, you won’t be forced to make payments for a total of up to 24 months. During this time, interest will continue to accrue just as with other lenders.

What Is Other Students’ Opinion About Both Discover and Ascent?

Discover vs Ascent Student loan - Supermoney reviews
I recently called Discover and begged for my monthly payment to be lower as they were able to do it before, and I was told if I wanted to do it again, I just had to request it every six months. Well for some reason now I’m only eligible to have my payment lowered once more in my entire life, with increased payment following that.
Fred L. Campbell, Discover borrower
Ascent has approved my loan application of $11k (with a cosigner) for the upcoming spring semester, with an APR of 6.22%, but I’ve applied a discount to lower it to 5.98% while making automatic payments, including making $1 monthly payments while in school.
Tracie Wheat, Ascent borrower

Frequently Asked Questions

Ascent Student Loan

Ascent is a student loan lender that caters to borrowers with and without co-signers.

Brian Weatherspoon

Ascent Credit BasedCosigned
Interest Rates
Loan Amounts
Customer Experience
Approval Rate


Ascent is The best option for students seeking to use a co-signer and pay off debts quickly is a co-signed loan.


Discover Student Loan

Discover Financial Services is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans, and credit cards.

Brian Weatherspoon

Discover logo
Interest Rates
Loan Amounts
Customer Experience
Approval Rate


Discover Bank, known primarily for its credit card business, launched Discover Student Loans in 2007. Its private loan is best for students who may need wiggle room on payments.