KEN RUGGIERO

Increasingly prohibitive costs and complexities of financing higher education create formidable obstacles to students’ academic and economic success, particularly for students from low-income backgrounds and historically underrepresented groups. Traditional lenders have traditionally excluded these students due to perceived risk tied to issues such as poor credit scores, a lack of financial understanding, or first-time college attendance. This means that thousands of students are not just struggling to fund education, but also failing to manage a financial future that could have been full of upward mobility.

Ascent was established to help students overcome these basic challenges by redefining what a student loan company can be. Ascent’s mission goes way beyond the mere facilitation of money; it is a personal investment in the overall students and their families. Founded in 2016 and headquartered in San Diego, CA, Ascent offers a new view on the student lending world: one that puts financial literacy, career readiness, and economic mobility front and center. Unlike traditional providers of loans for education, Ascent goes beyond financing by equipping students and their families with the tools, resources, and support necessary for durable economic success.

Ascent serves students going to college, students currently attending college, graduate students, career school students, and their families – the majority of whom are from low-income backgrounds. This segment often faces three critical challenges: expensive tuition, extremely limited access to credit, and inadequate capabilities in managing financial knowledge. Ascent aims to tear down these barriers with student-centric loans that come with no fees, discounts for enrolling in autopay, and the opportunity to build your own credit.

The AscentUP platform is available to Ascent’s college borrowers and embodies a commitment to holistic student success, where borrowers are provided with financial wellness education, career coaching, access to paid work experiences, and job readiness programs. By requiring financial literacy training throughout the loan process, Ascent makes sure that borrowers are not just getting access to funds but also gaining the skills for debt management, credit building, and eventual job placement.

Unlike most of the private lenders, Ascent views itself as a student success organization. All applicants will spend time gaining financial education at the point of application. AscentUP’s resources towards promoting professional growth, financial wellness, and academic success are made available to college borrowers over the life of the loan. Ascent offers multiple options to ensure borrowers make smart financial choices for their situation.

Ascent has had a positive impact on the lives of over 100,000 families; over 93% of its college loan borrowers and 82% of its career loan borrowers meet its definition of a low-income borrower. Ascent is committed to driving life-changing outcomes and has seen a 136% average increase in income for career education graduates within a year of graduation. Focused on financial wellness, Ascent has recorded over 1.2 million minutes in financial literacy training amongst its borrowers, while more than 50,000 students have benefited from tailored coaching and tools through the AscentUP Program.

Ascent also contributes to education through scholarships, having to this date issued over $340,000 in scholarships. Ascent’s key focus is on building better futures through financial understanding in every corner of the borrowing process and fostering a diverse and inclusive staff. Ambition for five years: Ascent aims to ensure that through it, students increase income by a level of $10 billion. Innovation in Ascent’s loan offerings and the portfolio of its benefits are indispensable to reach this objective.

Under the leadership of CEO Ken Ruggiero, Ascent has garnered numerous accolades, including the 2024 NerdWallet Best-Of Award for “Best Student Loan for Independent Students” and was named among “The Best Private Lenders of 2024” by The College Investor. In previous years, Ascent received accolades from NerdWallet, including the 2023 awards for “Best Student Loan for Independent Students” and “Best Student Loan for Flexible Repayment,” as well as the 2021 Best-Of Awards for Private Loans, Co-Signed Loans, and Outcomes-Based Non-Co-Signed Loans. The Balance recognized Ascent for providing “Best Student Loans for Bad Credit,” “Best Student Loans Without a Co-Signer,” and “Best Student Loans.” 

Forbes Advisor praised Ascent for its offerings, listing it among the best for Private, International, and Low-Interest Student Loans, as well as for Graduate, Medical, and Nursing School Loans. Ascent also received the Editor’s Choice Award from badcredit.org for being a “Top Private Student Loan Provider” and was rated #1 Student Loan Lender by DollarGeek. Beyond lending, Ascent’s commitment to its team has earned it accolades such as the 2023 Best Places to Work in SoCal, recognition by American Banker as a Best Place to Work in Fintech in 2024 and 2023, and acknowledgement as one of San Diego’s Best and Brightest Companies to Work For in 2022. The San Diego Business Journal also named Ascent among its Best Places to Work in 2022 and 2020.

“We are committed to investing in our team that passionately advances our mission to provide innovative, student-centered financial solutions to as many students, parents, and guardians as possible,” said Ken Ruggiero, co-founder and CEO of Ascent. “These awards recognize our best-in-class teams and their exceptional contributions to our borrowers.”

Ascent is more than a student loan company — it is an education partner that strongly believes in turning financial obstacles into opportunities and realizing lasting economic mobility for students and their families.