Ascent Raises $45 Million In Series C Funding Round

The funding will help the San Diego-based company grow its leadership team, scale its education financing platform, and enter new verticals.

Published on Feb. 22, 2026

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Ascent, a provider of private student loans and related support services based in San Diego, California, has secured $45 million in Series C equity financing. This round was led by an unnamed global asset manager and is positioned to address the increasing demand for private education financing driven by recent federal policy changes that impose stricter caps on federal student loans. The proceeds will be used to enhance Ascent's platform and product offerings, with a focus on areas like aviation training and graduate programs where federal aid falls short.

Why it matters

This funding round represents a strategic infusion of capital for Ascent to capitalize on evolving market dynamics in student lending, as federal loan caps push more students toward private options, creating opportunities for providers like Ascent to expand. Ascent's mission emphasizes enabling access to education for underserved populations, including first generation students, those with limited credit histories, DACA recipients, and international students, by offering loans that prioritize future earning potential over traditional credit metrics.

The details

Ascent maintains a workforce of over 120 employees and has forged partnerships with more than 2,300 educational institutions and training providers across the United States, fueling a 30% year over year growth in loan originations. Over the past decade, Ascent has disbursed in excess of $1.5 billion in education loans to more than 168,000 families. The Series C funding is intended to accelerate Ascent's expansion efforts, including bolstering its leadership team, enhancing its proprietary education financing platform, and venturing into new educational verticals with a particular emphasis on graduate level and career focused programs where costs often exceed federal aid limits.

  • Ascent completed a $45 million Series C funding round in February 2026.

The players

Ascent

A San Diego-based provider of private student loans and related support services, focused on enabling access to education for underserved populations.

TD Securities

The exclusive placement agent for Ascent's Series C funding round.

Cooley

The legal advisor for Ascent's Series C funding round.

Ken Ruggiero

The Co-Founder and CEO of Ascent.

Ryan Gray

The newly appointed Co-President of Ascent, overseeing finance, capital markets, and operations.

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What they’re saying

“This capital will reinforce the company's role in providing accessible financing to overlooked demographics, fostering economic mobility through education.”

— Ken Ruggiero, Co-Founder and CEO of Ascent (superbcrew.com)

What’s next

Ascent plans to use the Series C funding to enhance its platform and product offerings, with a focus on areas like aviation training and graduate programs where federal aid falls short.

The takeaway

Ascent's $45 million Series C funding round highlights the growing demand for private education financing solutions, particularly as federal loan caps push more students toward alternative options. The company's innovative credit models, extensive partnerships, and commitment to borrower success position it to further differentiate in the student lending market and contribute to broader economic mobility through accessible education financing.