Ascent Funding

What Ascent Funding does

Ascent Funding, LLC is a US private student and career-training loan originator headquartered in San Diego, California, founded approximately a decade ago and operating two principal product lines: a private college-loan book (undergraduate, graduate, professional, parent, international, and DACA variants) and a career-training consumer-loan book originated through its wholly owned subsidiary Skills Fund, LLC (d/b/a Ascent Skills Funding). Loans are issued through bank partners — Bank of Lake Mills and DR Bank for college loans, and Richland State Bank or DR Bank for career-training loans — and serviced by Launch Servicing, LLC via the AscentConnect mobile app. Ascent's distribution combines a direct-to-consumer self-serve online application (college.ascentfunding.com and bootcamp.ascentfunding.com) with a 2,300+ institution partnership network and flagship distribution deals such as the May 2026 GMAC partnership for MBA and business-master's students.

Underlying the product is a proprietary loan origination platform that powers soft-credit-pull pre-qualification in under three minutes, school-certified disbursement, and an outcomes-based underwriting model for credit-invisible juniors and seniors that weighs school, program, major, GPA, and SAP rather than relying solely on credit or income. Adjacent platforms include AscentUP (financial wellness, career coaching, and paid remote internship access), AscentConnect (iOS/Android servicing), and an outcomes-research stack (Bright Futures Engine, Grad School Funding/Impact Calculators). The business is venture-backed (Series C closed February 19, 2026 at $45M led by an unnamed global asset manager with Endeavor and Framework Ventures, TD Securities as placement agent, Cooley as legal advisor) and has cumulatively disbursed over $1.5 billion in education loans to more than 220,000 borrowers across 168,000+ families; in September 2024 Ascent completed its first public securitization of career-education consumer loans.

Name

Ascent Funding

Legal name

Ascent Funding, LLC

Website

https://ascentfunding.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Ascent Funding is a San Diego-based private student and career-training loan originator serving US undergraduate, graduate, professional, international, DACA, and bootcamp students through bank-partner distribution and a 2,300+ institution network.

Ownership category

akta.pro rank

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Private Student Loan Origination (College): Primary revenue stream: Ascent originates private college student loans (Cosigned Credit-Based, Non-Cosigned Credit-Based, Non-Cosigned Outcomes-Based, and Parent Loans) on behalf of bank partners Bank of Lake Mills and DR Bank (each Member FDIC). Ascent earns gain-on-sale economics and/or net interest margin on originated and securitized loan volume. No application, origination, or disbursement fees are charged to college borrowers.
2. Career Training Consumer Loans: Ascent (via Skills Fund, LLC, d/b/a Ascent Skills Funding) originates consumer loans for bootcamp and trade-school tuition at partner schools, made available through Richland State Bank or DR Bank. Includes a 5.0% one-time origination fee (except for Ascent's Zero Percent Loan program at certain schools) which is added to the financed principal.
3. Loan Securitization: Ascent completed its first-ever public securitization of career education consumer loans in September 2024, monetizing originated loan pools through capital markets.
4. Loan Servicing Referrals & Partnership Economics: Loans are serviced by Launch Servicing, LLC (referenced as loan-servicing partner). The AscentConnect mobile app is co-powered by Launch Servicing and Ascent Funding, indicating a servicing-referral and platform arrangement that supports ongoing portfolio economics.
5. Referral & Rewards Programs: Borrower-driven referral programs (Refer-a-Friend, Ascent Rewards cash-back shopping program in partnership with Payce, and 1% Cash Back Graduation Reward) drive low-cost customer acquisition with monetization tied to engagement and shopping volume.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels11 records

Core offering

Ascent Funding originates private student loans for undergraduate, graduate, professional, international, and DACA students attending U.S. colleges, as well as consumer loans for tuition at partner bootcamps and trade schools, disbursing funds directly to schools. Loans are made available through FDIC bank partners, feature outcomes-based underwriting for credit-invisible borrowers, no fees on college loans, 9-month grace periods, 12-month cosigner release, autopay discounts, and are paired with the AscentUP student-success platform and the AscentConnect mobile app.

Product overview

Ascent Funding operates a single, integrated education-finance platform composed of a core private student-loan offering and adjacent consumer (career-training) loans, supported by a borrower success module (AscentUP), a mobile servicing app (AscentConnect), a no-essay scholarship program, and a suite of outcomes-oriented planning tools (Bright Futures Engine, Grad School Funding Calculator, Grad School Impact Calculator). The core college-loan product is divided into Undergraduate (Cosigned, Non-Cosigned Credit-Based, Non-Cosigned Outcomes-Based, Parent, International, DACA), Graduate (MBA, Dental, Law, Medical, Health Professions, PhD & Master's, Computer Science & Engineering), and Parent Student Loan sub-products, while the Career Training Loans product funds tuition at partner bootcamps and trade schools. AscentUP delivers financial wellness, career coaching, and paid-internship access layered on top of every funded loan, and AscentConnect provides 24/7 loan servicing on iOS and Android.

Differentiator

Problem solved

Functional benefit

Brands

• AscentUP: Borrower benefits platform offering financial wellness, career training, college and career coaching, and access to paid remote internship opportunities for Ascent loan applicants and borrowers.
• AscentConnect

Products and services

• College Loans (Undergraduate, Graduate, Parent) Private student loans for undergraduate, graduate, and parent borrowers at eligible U.S. degree-granting institutions, covering tuition, room and board, books, and other school-certified expenses. Fixed APRs start at 2.69% and variable APRs at 3.65%, with aggregate limits up to $200,000 (undergraduate) and $400,000 (graduate), terms of 5–15 years (up to 20 for graduate), 9-month grace period, autopay discounts, 12-month cosigner release, and no application, origination, disbursement, late, NSF, or prepayment fees.
• Career Training Loans (Bootcamps and Trade Schools) Consumer loans funding tuition at Ascent's partner bootcamps and trade schools (aviation, welding, nursing, dental assisting, coding, HVAC, esthetics, linework, medical sales, etc.), with $2,000–$40,000 total borrowing, a one-time 5.0% origination fee (excluded from the 0% loan program at select schools), 1% autopay discount, multiple repayment plans, no prepayment penalty, and direct disbursement to the partner school.
• Non-Cosigned Outcomes-Based Undergraduate Loan Non-cosigned private student loan for eligible undergraduates with a 3.0+ GPA, using school, program, major, GPA, and SAP factors in lieu of traditional credit/income underwriting. Variable APRs 12.36%–14.51% and fixed APRs 13.32%–15.48%, 10 or 15-year terms, capped at $20,000 per academic year and $200,000 aggregate, with a 1.00% autopay discount.
• Graduate and Professional Student Loans Private student loans for master's, doctoral, and professional students covering up to $400,000 in aggregate, with terms of 5–20 years, 9-month standard grace, multi-year residency deferment for medical and dental borrowers, 0.5%–1% autopay discount, and no fees. Includes MBA, Dental, Law, Medical, Health Professions, PhD & Master's, and Computer Science & Engineering sub-products.
• Medical School Loans (MD/DO/DVM/VMD/DPM) Private loans for medical students (MD, DO, DVM, VMD, DPM) with a 36-month grace period, up to 48 months of additional residency deferment (up to 84 months / 7 years total), 7–20 year terms, and Deferred, $25 Minimum, Interest-Only, or Immediate repayment options.
• Dental School Loans (DMD/DDS) Private loans for DMD/DDS dental students with a 12-month grace period and up to 48 months of additional residency deferment (up to 60 months / 5 years total), flexible repayment options, and no prepayment penalty.
• MBA Student Loans Private student loans for MBA students with cosigned and non-cosigned, DACA, and international eligibility, fixed APRs starting at 2.69% and variable APRs starting at 3.65%, with Deferred, $25 Minimum, Interest-Only, and Immediate repayment plans.
• International Student Loans Private student loans for non-U.S. citizens, non-permanent residents, and non-DACA students at U.S. universities, requiring a U.S. citizen or permanent resident cosigner with $30,000 minimum annual income. Variable APRs 3.65%–16.56% for international medical school cosigned, with customized MBA, Medical, Dental, Law, and General Graduate terms.
• DACA Student Loans Cosigned and Non-Cosigned credit-based and outcomes-based loans for undergraduate and graduate DACA students, with $200,000 (undergrad) and $400,000 (graduate) aggregate limits, available across MBA, Medical, Dental, Law, and General Graduate program variants.
• Parent Student Loans Private loans for parents, grandparents, guardians, and sponsors to pay for an eligible student's education, with fixed APR 5.55%–15.81%, variable APR 4.85%–14.31%, 5–15 year terms, Immediate Repayment, 0.5% autopay discount, and no application, origination, or disbursement fees.
• AscentConnect Mobile App Native iOS and Android application giving Ascent borrowers 24/7 loan status, payment, autopay enrollment, and account management, co-powered by Launch Servicing, LLC and Ascent Funding, LLC.
• AscentUP Student Success Platform Embedded financial wellness, career training, college and career coaching, and paid remote internship platform available to Ascent loan applicants and borrowers, described by the company as the only student lender to require this as part of the loan application. Includes 1.2 million+ minutes of financial wellness education accessed.
• Aviation Loan Program Career-training loan product targeted at aviation students attending partner flight schools, with tuition ranges of approximately $5,000 to $40,000, originated as part of Ascent's expansion into aviation vertical financing.
• Graduate Outcomes-Based Loan Program Outcomes-based graduate loan product extending Ascent's proprietary outcomes-based underwriting to graduate and professional students as part of the company's vertical expansion, positioned to address the funding gap from the federal Grad PLUS loan elimination.

Quantifiable outcome

• 30% year-over-year increase in loan originations (reported alongside the February 2026 Series C close)
• +4 more outcomes

Segments8 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

22 partnerships are on record, tiered flagship, core and minor.

• GMAC (Graduate Management Admission Council)flagshipGTM or Marketing Partner · 19 May 2026On May 19, 2026, GMAC and Ascent Funding announced a partnership to help MBA and specialized business master's students finance their degrees amid the elimination of Grad PLUS loans starting July 1, 2026. Under the partnership, GMAC-connected students gain access to Ascent offerings including autopay interest-rate discounts, cash-back graduation rewards, and career readiness tools via AscentUP.
• Cooley LLPcoreImplementation/ SI/ Consulting Partner · 22 February 2026Acted as legal advisor for Ascent's $45 million Series C financing, supporting the close alongside TD Securities and the unnamed global asset manager lead investor.
• SAFE Credit UnionminorGTM or Marketing Partner · 16 February 2025Co-hosted webinar "Paying for College 101: Navigating FAFSA, Scholarships & Loans" with Ascent in February 2025, and co-promoted a $1,000 Tuition Tactics scholarship giveaway to drive education-content engagement.
• Scholarships360minorGTM or Marketing Partner · 14 February 2025Co-marketed $1,000 scholarship giveaway with Ascent in February 2025 as part of ongoing monthly no-essay scholarship programs; partnership provides cross-promotion to drive top-of-funnel awareness and email capture for both organizations.
• Fulfillment FundminorGTM or Marketing Partner · 27 December 2024Fulfillment Fund partnered with AscentUP and CareerSpring to expand student support services; the partnership connects Ascent's student-success and career readiness tools with Fulfillment Fund's college-access programming for underserved high school and college students.
• The Forward FundcoreStrategic or Co-development Partner · 9 December 2024Ascent and The Forward Fund launched a $7 million fund in December 2024 to expand education access for underserved students; the fund provides financing and student-support services to help borrowers access postsecondary education pathways.
• AmpersandcoreStrategic or Co-development Partner · 27 July 2023Ascent announced the acquisition of Ampersand, a web-based professional development platform, to improve workforce preparation for graduates; the deal signifies a strategic move to enhance skills training for young professionals alongside Ascent's financing products.
• Bank of Lake MillsflagshipOEM/ Whitelabel/ Licensing PartnerBank partner that makes Ascent Funding, LLC college loan products available to consumers (each Member FDIC); loans are subject to credit approval. NMLS #1761645.
• DR BankflagshipOEM/ Whitelabel/ Licensing PartnerBank partner that makes Ascent's college loans (Ascent Funding, LLC) and career training loans (Skills Fund, LLC d/b/a Ascent Skills Funding) available to consumers (each Member FDIC); loans are subject to credit approval.
• Richland State BankflagshipOEM/ Whitelabel/ Licensing PartnerBank partner that makes Skills Fund, LLC (d/b/a Ascent Skills Funding) career training loan products available to consumers (each Member FDIC); loans are subject to credit approval.
• Launch Servicing, LLCcoreOthersLoan servicer for Ascent's college and career training loans; co-powers the AscentConnect mobile app alongside Ascent Funding, LLC. Handles borrower statements, payments, autopay, and customer service touchpoints across the loan lifecycle.
• Payce (Ascent Rewards)minorGTM or Marketing PartnerAscent Rewards cash-back shopping program offered via partnership with Payce, letting borrowers earn cash back on purchases at participating retailers; promoted on the parent-loan page to support borrower engagement and retention.
• Skills Fund, LLC (d/b/a Ascent Skills Funding)flagshipOEM/ Whitelabel/ Licensing PartnerAscent's career training loan subsidiary, operating under the Ascent Skills Funding brand, originates consumer loans for bootcamp and trade school tuition and is made available through Richland State Bank or DR Bank.
• North American Lineman Training CenterminorChannel Partner/ Reseller/ DistributorPartner school in McEwen, TN that refers students to Ascent's career training loans for linework programs (~$18,820 tuition). Students apply via Ascent's co-branded bootcamp application flow.
• Epic Flight AcademyminorChannel Partner/ Reseller/ DistributorPartner aviation school in Erlanger, TN and New Smyrna Beach, FL that directs students to Ascent's aviation career-training loans (~$40,000 tuition); representative of Ascent's growing aviation vertical tied to its new Aviation Loan program.
• US Aviation AcademyminorChannel Partner/ Reseller/ DistributorPartner aviation school in Denton, TX ($5,000–$36,000 tuition range) that refers students to Ascent's career training loans as part of Ascent's aviation vertical expansion.
• Western Welding AcademyminorChannel Partner/ Reseller/ DistributorPartner welding school in Gillette, WY ($30,000–$35,800 tuition) that refers students to Ascent's career training loans.
• Heavy Construction AcademyminorChannel Partner/ Reseller/ DistributorPartner construction training school in Brentwood, NH (~$19,300 tuition) that refers students to Ascent's career training loans.
• Academy of Healthcare ExcellenceminorChannel Partner/ Reseller/ DistributorPartner allied-health school in Vineland, NJ ($3,100–$28,650 tuition) that refers students to Ascent's career training loans; Ascent has a dedicated landing page for the school's tuition.
• Medical Sales CollegeminorChannel Partner/ Reseller/ DistributorPartner education provider with multiple U.S. locations plus Online ($9,350–$18,995 tuition) that refers students to Ascent's career training loans.
• Northern California Nursing AcademyminorChannel Partner/ Reseller/ DistributorPartner allied-health school in Daly City, CA ($2,170–$38,570 tuition) that refers students to Ascent's career training loans.
• Financial Advisor Training InstituteminorChannel Partner/ Reseller/ DistributorOnline partner education provider (~$15,500 tuition) that refers students to Ascent's career training loans in the financial services education track.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ascent Funding