Ascent Expands Impact Loan Program, Makes Education Accessible to More Adult Learners

SAN DIEGO, Nov. 8, 2023 /PRNewswire/ -- Ascent, a leader in outcomes-based lending and student success, announced today that its Impact Loan Program has expanded to offer zero percent interest rate loans to qualifying participants of CareerDash, a Colorado-based job training program.

"When we launched our Impact Loan Program, our goal was to continue sourcing impact partners to create custom financing options that support the economic mobility of adult learners," said Chief Impact Officer of Ascent Tristan Fleming. "This is the first state-specific model to launch under our Impact Loan Program, and we look forward to expanding tailored access to more forward-looking states across the country. We're dedicated to driving positive student outcomes in creative ways. This is another great example of our hardworking team bringing our vision to life."

In partnership with CareerDash and the Colorado Pay It Forward Fund (a philanthropy-backed job training initiative preparing Coloradans for in-demand jobs launched by the nonprofit Social Finance), this custom loan product developed under Ascent's Impact Loan Program will expand access to CareerDash's job training programs to qualifying Colorado residents. Flexible loan terms include no interest or fees and the ability for customers to pause payments after leaving school if they don't secure a full-time job and earn a certain minimum salary.

"There are hundreds of thousands of individuals in Colorado that want more from their careers but don't know where to start," said Founder of CareerDash Bob Sherriff. "We believe through these partnerships and amazing financing options; we can create real and sustainable paths for Coloradans to improve their lives and achieve family-supporting incomes."

The Impact Loan Program was created to meet the growing demand of individuals who wished to upskill but lacked access to affordable financing options. This program helps adult learners pursue and earn their way to higher-paying jobs and supports Ascent's impact goal to increase students' income by $10 billion in five years.

To learn more about Ascent and its loan products, click here.

About Ascent 
Ascent is the leading provider of innovative financial products and student support services that enable more students to access education and achieve academic and economic success. We are obsessed with driving positive student outcomes. Everything Ascent offers is designed with the best-in-class teams and technology to increase every student's ability to plan, pay, and succeed.

SOURCE Ascent Funding