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Ascent vs SoFi: Student Loan Comparison

When looking for a private student loan to pay for your education, you could be debating between Sofi and Ascent.

Before considering private loans, you must first exhaust all federal loans. If you have done this, you should begin making arrangements for your life after college.

Sofi offers several flexible repayment choices as well as no fees and free job counseling.

Ascent is a leading private lender because it accepts the majority of customers, regardless of whether they have a co-signer or not, and because it provides a range of options, including credit-based and future income-based financing.

Here is the full comparison:

Ascent vs Sofi: Who Has Better Terms?

Interest RatesFixed APR: 3.97% To 11.89%.
Variable APR: 1.47% To 9.05%.
Fixed APR: 3.75% – 13.55%
Variable APR: 1.69% – 11.98%
Loan Amounts$2,001 – $200,000$5,000 up to your total cost of attendance.
Term Duration5, 7, 10, 12, or 15 years5, 10, or 15 years.
Minimum Credit Score680700
Income Requirementsno minimum income requirementDid not disclose
Financeive’s rating5/53.9/5

Who Has Better Rates Sofi vs Ascent?

Ascent has lower rates than Sofi, especially if you have a co-signer, since you may cut your rate by %11 with Ascent.

To find out which company would provide you with the best rates, periods, and repayment alternatives, apply for both Ascent and Sofi (especially after graduation).

Even if Ascent charges higher interest rates for loans without consigners, you may always refinance to a cheaper rate once you’ve earned your degree and secured a job.

Is an Ascent or Sofi Student Loan More Easily Obtained?

Ascent accepts most borrowers with different financial statuses 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.

Sofi didn’t disclose its minimum credit score, but the typically accepted credit was 700 which is a bit higher than Ascent (680 required credit score).

SoFi is more concerned with how responsible you’ve been with paying bills than with how long you’ve been doing so.

“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

If you apply without a cosigner, Ascent and Sofi offer quite comparable interest rates. The distinction is that whereas Sofi does not offer a co-signer release option, Ascent does.

You might be able to get rid of your cosigner after 2 years, according to Ascent, “when provided specific requirements are satisfied. Later, we’ll delve a bit more into this.”

Choose Ascent If You Need a Long Forbearance Period

Ascent offers a forbearance period of 24 months, which is substantially longer than Sofi’s forbearance period of 12 months.

Consequently, you won’t be obligated to make payments for a total of up to 24 months in the event that you lose your job, are put on furlough, or accrue extra debt. As with other lenders, interest will continue to accumulate during this period.

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

Ascent Other People Review
I couldn’t figure out why Sofi kept reporting my payment as late. They will not accept your monthly payment unless you pay them on the EXACT day it’s due!! They will not apply for your monthly payment even if it’s a day early!! They will put your early payment as an extra payment and you will have to make another payment if you goof up on your exact due date. Paying EARLY caucus this!!!! Not late!!!!
Larry of Charlotte, NC
I am a young college student who has little banking experience and hasn’t utilized credit very much yet. Because of this, getting a cosigner can be impossible. I’m excited to find out that Ascent doesn’t require such a thing, making the whole process easier for its primary market. Despite this, they still maintain competitive rates, which is great.
Jon Zachary, University of Illinois

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.


SoFi Student Loan

SoFi is a global leader in marketplace lending, having provided over $6 billion in loans. With student loan refinancing, mortgages, mortgage refinancing, and personal loans, SoFi is reinventing financial services for responsible customers.

Brian Weatherspoon

Interest Rates
Loan Amounts
Customer Experience
Approval Rate


Sofi offers several flexible repayment choices as well as no fees and free job counseling.