Federal policy shifts that cap the amount of federal loans available for education are driving more students toward private lenders to help cover their tuition bills. The private student loan need is projected to double to $26B over the next three years, and Ascent is positioned to support these students looking to pursue their educational goals. The round was led by a global asset manager and provides the capital Ascent needs to grow its leadership team, scale its unique education financing platform and expand into critical new education verticals.

Ascent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student's ability to plan, pay, and succeed. Ascent's rare Outcomes-Based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans.