Terms & Conditions

TERMS & CONDITIONS

For Students

Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate.  The Ascent Program for Funding Education may be funded by Richland State Bank (RSB) or Turnstile Capital Management, LLC (TCM), which are not affiliated entities. Certain restrictions and limitations may apply. The Ascent Program for Funding Education products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. All loan products may not be available in certain jurisdictions. Other terms and conditions apply.  The Ascent Program for Funding Education is a federally registered trademark of TCM and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.


  1. Variable rate loans are based on a margin between 5.75% and 12.50% plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent. The current LIBOR is 1.216%, which may adjust monthly. Your interest rate may increase or decrease, based on 1-Month LIBOR changes, resulting in an Annual Percentage Rate (APR) range between 6.97% and 13.21% based on your credit worthiness and your selected program.  (Rates are effective as of 07/01/2017.)

  2. Payments may be deferred. Subject to lender discretion, forbearance and/or deferment options may be available for borrowers who are encountering financial distress.

  3. Making interest only or partial interest payments while in school will not reduce the principal balance of the loan. There are three flexible in-school repayment options that include fully deferred, interest only, and immediate repayment. For more information: Click here for a repayment example.

  4. A repayment term of up to twelve (12) years is available under the full principal and interest (immediate repayment) plan, and a repayment term of up to ten (10) years is available under the interest only plan or deferred repayment.

  5. Interest rate reduction of 0.25% for enrollment in automatic debit applies only when the borrower and/or co-signer signs up for automatic payments and the regularly scheduled, current amount due is successfully deducted from the designated bank account each month. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of In-School, Deferment, Grace or Forbearance. If you have two (2) returned payments for Nonsufficient Funds, we may cancel your automatic debit enrollment and you will lose the 0.25% interest rate reduction. You will then need to requalify and re-enroll in automatic debit payments in order to receive the 0.25% interest rate reduction.

  6. All applicants (individual and cosigner) are required to complete a brief online financial literacy course as part of the application process to be eligible for funding.

  7. Eligibility, loan amount and other loan terms are dependent on a number of factors, including: loan product, other financial aid, creditworthiness, school, program, graduation date, major, cost of attendance, income and other factors. Aggregate loan limits may apply. The cost of attendance is determined and certified by the educational institution.

  8. The legal age for entering into contracts is eighteen (18) years of age in every state except Alabama where it is nineteen (19) years old, Nebraska where it is nineteen (19) years old (only for wards of the state), and Mississippi and Puerto Rico where it is twenty-one (21) years old.

Contact Us

Call 866-524-7756 toll-free, Monday – Friday from 7:00AM to 4:00PM (PDT) or email us with the form below. Please include your phone number and best time to reach you.