Ascent and GMAC Announce New Initiative to Support MBA Students with Flexible Financing and Career Readiness Tools

PR Newswire

SAN DIEGO, May 19, 2026

SAN DIEGO, May 19, 2026 /PRNewswire/ -- GMAC (Graduate Management Admission Council), a global nonprofit association of leading business schools and central hub for business school candidates, today announced a collaboration with Ascent Funding, a leading provider of private student loan products and student support services, facilitated through its bank partners. Together, GMAC and Ascent aim to help Master of Business Administration (MBA) and other business master's program students better plan for, pay for, and succeed in their graduate business education.

According to GMAC's latest research on prospective business school students, aspects like cost and lack of financial aid, are cited as candidates' most common barriers to pursuing a graduate business degree. As policies around financial resources for higher education shift, many qualified and motivated learners risk being left behind. Increasingly the barrier isn't ability - it's access to funding.

Ascent prides itself on its student-focused benefits, easy application, flexible repayment options, and commitment to expanding access to education financing through its outcomes-based funding model, which evaluates students' expected post-graduation earning potential, rather than relying solely on current income and credit profile. Together, GMAC and Ascent are helping to provide more students with access to flexible, student-centric financing solutions that reflect the realities of today's business talent.

"We know that education has the potential to change the trajectory of someone's life, but too often, access comes down to outdated measures like credit history or current income, not future potential," said Ken Ruggiero, CEO of Ascent. "At Ascent, we've built our model around outcomes, because we believe students should be evaluated based on where they're going, not just where they're starting. Working with GMAC allows us to meet aspiring business school students at a critical moment and give them the tools and financing they need to move forward with confidence."

Students in the GMAC ecosystem may take advantage of a suite of financial and professional benefits provided by Ascent to support them throughout their graduate business school journey, including*:

0.5% - 1.00% autopay interest rate discount
1% cash back reward upon graduation
Access to Ascent's proprietary professional training and career readiness platform, with a 9-month post-graduation grace period before repayment begins
A dedicated Ascent representative for personalized application support

"For more than 70 years, GMAC's mission has been to connect aspiring business leaders with the opportunities and resources for them to realize their potential," said Joy Jones, CEO of GMAC. "As the path to graduate management education becomes more complex, collaborations like this play an important role in helping candidates navigate both the financial and professional aspects of their journey. By working with Ascent, we're able to help make candidates aware of tools and support at this critical juncture, empowering them not only to enroll in business school but also to thrive during and after their programs."

To further support informed decision-making, Ascent created a proprietary Grad School Funding Calculator that helps graduate students estimate their total cost of attendance, assess federal loan limits under current policy, and identify any potential funding gap between available federal aid and program costs. By clarifying where gaps may exist, the tool gives students a clearer picture of the financing they may need beyond federal loans and other resources.

For more information, visit Ascentfunding.com/GMAC.

*All Ascent Funding, LLC loans are originated by Ascent's FDIC-member bank partners. All benefits, rates, and repayment features are subject to eligibility, credit approval, and loan terms, and may vary.

ABOUT ASCENT

Ascent is a leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success. Everything Ascent offers is designed by leading industry professionals and with advanced technology and innovation to increase every student's ability to plan, pay, and succeed. Ascent's rare Outcomes-Based Loan provides funding to credit-invisible borrowers who generally do not benefit from traditional credit. Ascent products also include: Cosigned Loans, Solo Loans, Career Loans, Parent Loans, Graduate Loans, Access Loans, Enterprise Loans and Impact Loans. For more information, visit www.ascentfunding.com.

About GMAC

GMAC is a global nonprofit association of leading graduate business schools committed to connecting future business leaders with educational opportunities and advancing graduate management education worldwide. Through assessments, research, events, and recruitment solutions, GMAC provides the tools and information necessary for schools and candidates to discover and evaluate each other. With teams in China, India, the United Kingdom, and the United States, GMAC serves millions of visitors each year across its digital platforms.