Navigating Education Evolution: An Ask Me Anything session with Ascent’s CEO Ken Ruggiero 

Education is always evolving, and keeping track of the changes can be overwhelming. From critical FAFSA updates to new Department of Education regulations, staying informed has become increasingly complex. Recognizing these challenges, we’re taking a proactive approach to support you. On April 10th, we hosted an exclusive Ask Me Anything (AMA) session with our CEO, Ken Ruggiero, creating a direct line of communication between you and our leadership. 

The session revealed widespread uncertainty about the impact of recent changes on financial aid processes and next steps. Your concerns are our priority, which is why this AMA was designed to provide clear, authoritative answers to your most pressing questions. 

Couldn’t make it to the live session? We’ve got you covered. We’ve carefully compiled the most significant questions and comprehensive answers in this detailed recap. Our goal is to transform uncertainty into understanding, empowering you to navigate these changes with confidence. 

When you say, “dismantle the U.S. Department of Education,” what do you mean? 

There’s been growing discussion about potential changes to the U.S. Department of Education, including the possible transfer of federal student loans to the Small Business Administration (SBA). While nothing has officially changed yet, President Trump issued an executive order on March 20, 2025, to begin dismantling the Department of Education. Following this, he announced that the SBA will take over the administration of the student loan portfolio. 

That said, there may be some challenges to making these changes a reality. Since much of the federal student loan system is governed by law, it’s not clear how these would be implemented without approval from Congress. 

We know this news can be confusing and stressful, especially if you’re relying on federal aid right now. But rest assured, your current loans and aid are unaffected for the time being. While these changes may impact future borrowers, we’ll be here to keep you updated and support you through any changes that come your way. 

Will my payments still be deferred until I finish school? 

If you chose in-school deferment when you took out your loan from Ascent, your payments will remain deferred as long as you’re enrolled at least half-time. This means you won’t need to make monthly payments until after you graduate or drop below half-time status, depending on your loan terms. It’s also important to note that a change in the administrator of the federal student loan program should not affect your eligibility to defer payments while you’re in school. However, making early payments during deferment can still reduce your total loan cost and help you get ahead with repayment. 

I want to know if there will still be funding for students that are going to school outside of private lenders? I thought FAFSA helps us avoid interest on loans. 

Great question! You’re not alone in wondering this. Yes, federal student aid through FAFSA is still currently available. Nothing has changed how students apply for, or receive, federal grants, work-study, or subsidized loans.  

While there have been recent discussions about potential shifts in how federal education is managed, no changes to FAFSA or federal aid have been approved at this time.  

If you’re planning for school, it’s still a good idea to complete your FAFSA application as soon as possible and explore all options- federal and private loans- as well as scholarships to make the best financial decision for your situation. 

Will FAFSA payments be altered or canceled altogether because of the DOE getting cut? 

As of today, we haven’t heard anything about FAFSA payments being altered or canceled due to changes with the Department of Education. While there have been some changes within the DOE, they’ve assured that essential programs like FAFSA are still up and running. You can continue applying for financial aid as usual, and we’ll keep you updated if anything changes. 

Why is FAFSA taking so long this year?  

FAFSA is taking longer this year due to a major redesign for the 2024–2025 academic year, aimed at simplifying the process. However, technical issues and reduced staffing at the Department of Education have caused delays in processing and sending information to colleges. We know it’s a stressful time, especially when you’re waiting on financial details to make decisions, but these delays are part of the transition to the new system. 

Can I still submit my FAFSA if I haven’t yet?  

Yes, you can still submit your FAFSA! The federal deadline to submit the FAFSA for the 2024-2025 academic year is June 30, 2025. However, some states and schools have earlier deadlines for their own aid programs. Just keep in mind that some funding might be limited the longer you wait, so try to submit it as soon as you can to maximize your chances of getting the most aid available. 

How is FASFA and other forms of aid like TAP, going to be affected? And how can people go about paying for their education? 

We know how important financial aid is, and we want to reassure you that FAFSA and programs like TAP are still available to help you pay for school. There’s been a lot of talk about changes, but for now, nothing has affected these programs, so you can still count on them to support you.   

With the income-based repayment plan no longer available, how much will students expect to pay monthly in repayments and what advice can you share about how to do this with a small income? 

Good news – the application process for income-driven repayment (IDR) plans, including SAVE, PAYE, ICR, and IBR, is now open again after a brief pause. This means borrowers can apply for these plans and potentially reduce their monthly payments based on income, providing valuable relief if finances are tight. However, while the application process is back up and running, several provisions of these plans remain on pause. For more details, visit: https://studentaid.gov/announcements-events/idr-court-actions. 

If you’re working on a smaller income, we recommend looking into one of these plans. Along with that, taking a look at budgeting strategies can help you make the most out of your funds. Don’t forget to check out any forgiveness programs that might be available to you, as well. They could really make a difference in the long run.  

For further assistance, student borrowers should reach out to their loan servicers or visit the Federal Student Aid website for the most up-to-date guidance and resources. 

Can you provide general info on a Parent Plus Loan? 

A Parent Plus Loan is a federal loan that lets parents help cover the cost of their child’s college education. It can cover up to the full cost of attendance, minus any other aid, and has a fixed interest rate of 9.08% for the 2024-2025 school year. This process includes a simple credit check, and while payments usually start after the loan is disbursed, parents can request to defer payments while their student is in school. 

Thank you for this opportunity. As a prospective international student, what are my chances of getting funding, considering these new changes? Thank you. 

Ascent offers loans to international students with creditworthy U.S. cosigner. While recent changes to the Department of Education may impact federal loan processes, Ascent’s eligibility for international students remain simple: you’ll need a U.S. cosigner and be enrolled at least half-time. 

To stay informed about loan options and eligibility criteria, we welcome international students to visit our International Student Loans page. 

How can I reduce my payments to something actually manageable? 

Making your loan more manageable is all about staying proactive! You can set up automatic payments to keep things simple and avoid any late fees. If you’re able, try to pay a little extra each month – even small payments can help reduce your balance faster. And remember, the Ascent team is always here to help!  

To explore more options for making your loan payments more manageable, you can contact Ascent’s customer service team.  

How can I push for the Department of Education to stop changes?!! 

It’s understandable to want your voice heard, especially when it comes to something as important as education and student loans. There are lots of ways to get involved – reaching out to your reps, joining advocacy groups, or signing petitions can all help.  

Here are a few petitions you can sign:  Link & Link 

Find the best way that works for you to get involved. Your voice counts! 

Why does Ascent care? 

At Ascent, we’re committed to helping students achieve their goals, and we know education is an important investment in your future. Our goal isn’t just about providing loans – it’s to empower you with clear, accessible options so you can make the best financial choices for your future. Your success means a lot to us, both while you’re in school and beyond.