Podcasts Business Student Loan Planner Every Loan Has a Story: Private Student Loans and How They Work with Ascent CEO and Co-Founder Ken Ruggiero

Every Loan Has a Story: Private Student Loans and How They Work with Ascent CEO and Co-Founder Ken Ruggiero

Published: July 26, 2022, 5 a.m.

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Ken Ruggiero, CEO and Co-founder of Ascent, joins me and we look at his unique journey to founding Ascent, a fintech company that applies a holistic lens to the student loan industry. It\\u2019s the kind of discussion that\\u2019s full of diverse insight into governmental policy, first-hand knowledge of the student loan industry\\u2019s long history and the reflections on the outsized power that higher education lobby wields.

Learn how Ascent has been honored by the American Bankers Association for its data- and tech-driven approach that also incorporates educational elements to advance financial literacy, life skills and career support.

You\\u2019ll also get a peek into Ken\\u2019s emphatic advice: If you\\u2019re struggling to keep up with payments, don\\u2019t go into denial. Loan providers are there to help you work it out!

In today\\u2019s episode, we\\u2019re covering:

  • Ken\\u2019s professional evolution within the student loan sector over the past two decades
  • A complex understanding of the context for FFEL loans
  • How student loan and FFEL restructuring made Ken step away
  • What events propelled Ken\\u2019s decision to re-enter the student loan market in 2017
  • How Ascent grew out of a desire to serve students who have no resources, no credit and no support in funding their education
  • Ken\\u2019s journey of Ascent\\u2019s loan portfolio performance and forbearance amidst pandemic
  • Why anyone would use a private student loan in today\\u2019s environment\\xa0
  • Why private student loan companies like Ascent exist
  • Refinancing and whether it makes sense to renegotiate your loan, including Ken\\u2019s advice
  • Ken\\u2019s explanation of the finer points of Parent PLUS and Grad PLUS loans, patterns and shifts in borrowing
  • A back-door method of education funding that parents without resources might try
  • Alternatives to student loans that Ken recommends
  • All about Ascent\\u2019s Bright Futures Engine that integrates student loans with the preparedness and healthy financial habits for students
  • What is peak season and why it matters

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