For learners who have signed the Zero Percent Loan and decide to withdraw from the program after completing the Foundation phase, the amount they owe will depend on the point at which they withdraw. Here are the specific percentages:
If learners withdraw prior to the end of Week 5, they will owe nothing.
If learners withdraw after Week 5, but prior to completing Week 7, they will owe 60.0% of the Total Loan Amount.
If learners withdraw after Week 7, but prior to completing Week 9, they will owe 80.0% of the Total Loan Amount.
If learners withdraw after completing Week 9 of the Eligible Program, no refund is available, and the Program Loan remains due in full.
All learners, whether they complete the program or withdraw, repay according to Ascent Funding’s terms. Learners can defer their repayment every 3 months for up to 60 months until they are earning the equivalent of at least $40,000 per year.
For more information, please visit Ascent’s website or email meritamerica@ascentfunding.com