Realize your potential. Our programs are fast, flexible and affordable.
Flexible options to cover your program costs
We’ve got you covered with diverse options from our partners, ensuring our programs are accessible to everyone, regardless of their bank account:
Ascent Funding’s Zero Percent Loan
Learners in our IT Support, Data Analytics, UX Design and Cybersecurity programs can apply for Ascent Funding’s Zero Percent Loan to cover the program costs. Plus, you’ll only start repaying your loan when you’re making at least $40k per year.
Sponsorships
Some employers and organizations, such as Amazon, may cover some or all of the program costs for eligible learners. Please speak to your employer to see if they offer sponsorship for programs such as Merit America.
Self-funding
For those who prefer to pay for their Merit America program upfront in full with their own funds, self-funding is also an option.
How much does it cost?
$5700. Our IT Support, Data Analytics, UX Design and Cybersecurity* programs cost the same whether you choose to pay in full upfront, take Ascent’s Zero Percent Loan or have a sponsor.
Note: Your program cost may be lower than $5700 if you receive sponsorship from an employer. *Cybersecurity program cost is an estimate and subject to change.
What is Ascent Funding?
Ascent Funding is a third-party lending organization that seeks to provide access to education for millions of underserved students every year.
Ascent Funding is not affiliated with Merit America but is partnering with Merit America to ensure equitable financing for borrowers who may otherwise not be able to easily access Merit America’s programming.
What is Ascent's Zero Percent Loan?
If you choose Ascent’s Zero Percent Loan, here’s a look at what you can expect.
Ascent Funding Zero Percent Loan
Down payment
$0
Monthly in-program payments
$0
Income threshold After completing the program, you won’t pay unless your income is above this level.
The equivalent of at least $40,000 per year
Monthly post-program payments This is the amount you’ll pay each month once you enter repayment.
Up to $95
Number of payments This is the maximum number of payments you’ll make if your income stays above the threshold for the entire contract length.
Up to 60
Payment cap This is the maximum you’d pay if your income stays above the threshold for the entire contract length.
$5,700
Contract length Your payment obligation is waived after this time has passed – even if you’ve paid nothing.
60 months
$0 Down
If you choose Ascent Funding’s Zero Percent Loan, you won’t make any payments until three months after completing or exiting your Merit America program. Once you start repaying the loan, you will make monthly payments without incurring any interest charges, and if you happen to become unemployed, you can delay payment. Throughout the loan period, the interest rate will remain at 0%.
Please note that Merit America does not provide or administer or otherwise control the terms of the loan. Prospective borrowers should review the terms and conditions of the Zero Percent Loan program provided by Ascent Funding on their website.
You won’t pay anything until at least three months after you complete or exit your Merit America program.
Defer your repayment every three months for up to 60 months until you’re earning the equivalent of at least $40,000 per year. If, after 60 months of qualifying payments a balance remains, it will be forgiven.
Once you begin repayment, you’ll make low, predictable monthly payments of up to $95 for no more than 60 months. Use Ascent’s monthly payment calculator to preview your monthly payments based on your selected program.
You won’t be charged any interest, late fees, or origination fees on your loan.
Apply to the program and learn more. We provide ways to learn more about the payment options throughout the application process. If you’re accepted, you begin the “Foundation” phase, our trial period, to see if Merit America is right for you. You don’t sign anything at this point.
2
Immerse yourself
The “Immersion” phase of the program, where most of the technical content from partners and professional content from Merit America are taught, is next. This phase lasts 10-17 weeks, depending on the program.
Before entering this phase, you will commit to paying for your program costs, either by obtaining a loan or paying full upfront.
3
Search for jobs
“Job Success” begins after the technical and professional learning is complete. During this 3-month phase, you interview with our employer partners and search for jobs with your coach.
4
Start your career
If you have opted to take Ascent’s Zero Percent Loan, you’ll start making fixed monthly payments only once you’re earning $40,000 or more.
Opportunity for All
Merit America exists to support learners to transition out of low-wage jobs into careers they love. We believe that cost should not be a barrier to your career transition. We offer learner-friendly options to cover your cost, including upfront sponsorship, Ascent’s Zero Percent Loan, and direct payment. If none of these options are available to you, Merit America has set aside a limited number of spaces for our Opportunity for All program. If you apply for an Ascent Zero Percent Loan and do not qualify, are not sponsored by your employer, and cannot pay in full upfront, you can apply for the program, which will cover 100% of the cost for Merit America.
Some companies and government programs offer sponsorships to cover the cost of the program.
Please contact us to learn more about these options.
Payments from the program only cover a portion of your program costs — the rest comes from philanthropy and other revenue sources.
Ascent Funding independently evaluates eligibility for the Zero Percent Loan. Merit America has no influence over the decision-making about or administration of the Zero Percent Loan.
There are two possible ways to qualify for an Ascent Zero Percent Loan: on your own or with a cosigner. For the Merit America program, applying with a cosigner will not change your loan terms or improve your chances of obtaining a loan.
To see if you pre-qualify for an Ascent Zero Percent Loan, submit an application. In the pre-qualification process, Ascent will conduct a soft credit check with no impact to your credit score. After being conditionally approved and confirming your loan details, a hard credit check will be run to finalize the process.
Solo applicants must be U.S. citizens, permanent residents, or DACA recipients. U.S. temporary residents may apply with a qualified U.S. citizen or permanent resident cosigner. All applicants must pass a credit review that checks for certain derogatory credit items; for example, as of 2/24/2023, certain derogatory credit items that may disqualify you are:
You have accounts in collection greater than $15,000 (excluding medical debt or student loan debt)
You are individually a debt or in open bankruptcy proceeding
This list is not intended to be exhaustive, and underwriting requirements may be subject to change. However, there is no minimum credit history or credit score required for loan approval for the Ascent Zero Percent loan.
While the Ascent application process asks for income and employment details, they won’t use income, employment, or your requested loan amount to evaluate your application.
Learners should apply directly to Ascent Funding for the Zero Percent Loan, and will get a personalized link during the Foundations phase of the program. You can find further information on their website.
Please note that Merit America does not administer or provide the loan, nor is Merit America involved in any determinations of eligibility or other decision-making for Ascent Funding’s Zero Percent Loan program.
According to Ascent’s website: No, payments are not required during your program and while you’re in the three-month grace period following completion or termination of the immersion phase.
At Merit America, we understand that life can get in the way. We also realize that our program isn’t for everyone. If you’ve signed Ascent’s Zero Percent Loan and leave the program after the Foundation phase, you’ll only pay for the percentage of the program you’ve completed.
If you withdraw prior to the end of Week 5, you’ll owe nothing.
If you withdraw after Week 5, but prior to completing Week 7, you’ll owe 60% of the Total Loan Amount.
If you withdraw after Week 7, but prior to completing Week 9, you’ll owe 80% of the Total Loan Amount.
If you withdraw after completing Week 9 of the Eligible Program, no refund is available, and the Program Loan remains due in full.
If you find that you are making less than $40,000 annually in your current position or have not found employment that has a salary of at least $40,000 per year, then you may be able to take advantage of the Underemployed / Unemployed deferment option.
In order to use this option, please follow these steps:
DEFERMENT BY CALLING: Call the loan servicer, Launch Servicing at 1-877-209-5297. Please have your 9-digit account number (for Launch) ready or the last 4 of your Social Security Number. The representative will ask you for your information. Once they are able to verify your identity, you will need to request with the representative that you want to use the Underemployed/Unemployed deferment option. From there, the representative will ask you some questions, and once answered satisfactorily, your account may then be put into deferment.
DEFERMENT VIA PORTAL: Visit the website AscentFunding.LaunchServicing.com to set up an account in the Launch borrower customer portal. By selecting Register Now, fill out the prompts and requested information to proceed. After logged in, reach out to the Launch Customer Support Team via their internal messaging system. In a message, advise that you want to initiate the use of the Underemployed/Unemployed deferment option. A set of questions will either be sent via email or via a telephone call. Once answered, Launch may, set the account in deferment.
You will need to reach out every 3 months for the deferment to continue.
Please note this process is subject to change and Ascent will do its best to update any new procedures in a timely manner. You can always reach out to Launch Servicing directly for the most updated deferment information. They can be reached at 1-877-209-5297 or https://ascentfunding.launchservicing.com/.
We’re so confident in our program that we promise that if you still don’t earn at least $40k within the two years after you have completed the Immersion phase of your chosen Merit America program, you don’t have to pay. If you qualify by fulfilling the requirements, and don’t earn at least $40,000 a year within two years of your completing the Immersion phase, you may be eligible for a full refund or cancellation of your loan. Learn more at www.meritamerica.org/guarantee.
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