AWS Lambda VS ASCENT

• Scalability
  AWS Lambda automatically scales your application by running your code in response to each trigger. This means no manual intervention is required to handle varying levels of traffic.
• Cost-effectiveness
  You only pay for the compute time you consume. Billing is metered in increments of 100 milliseconds and you are not charged when your code is not running.
• Reduced Operations Overhead
  AWS Lambda abstracts the infrastructure management layer, so there is no need to manage or provision servers. This allows you to focus more on writing code for your applications.
• Flexibility
  Supports multiple programming languages such as Python, Node.js, Ruby, Java, Go, and .NET, which allows you to use the language you are most comfortable with.
• Integration with Other AWS Services
  Seamlessly integrates with many other AWS services such as S3, DynamoDB, RDS, SNS, and more, making it versatile and highly functional.
• Automatic Scaling and Load Balancing
  Handles thousands of concurrent requests without managing the scaling yourself, making it suitable for applications requiring high availability and reliability.

Possible disadvantages

• Cold Start Latency
  The first request to a Lambda function after it has been idle for a certain period can take longer to execute. This is referred to as a 'cold start' and can impact performance.
• Resource Limits
  Lambda has defined limits, such as a maximum execution timeout of 15 minutes, memory allocation ranging from 128 MB to 10,240 MB, and temporary storage up to 512 MB.
• Vendor Lock-in
  Using AWS Lambda ties you into the AWS ecosystem, making it difficult to migrate to another cloud provider or an on-premises solution without significant modifications to your application.
• Complexity of Debugging
  Debugging and monitoring distributed, serverless applications can be more complex compared to traditional applications due to the lack of direct access to the underlying infrastructure.
• Cold Start Issues with VPC
  When Lambda functions are configured to access resources within a Virtual Private Cloud (VPC), the cold start latency can be exacerbated due to additional VPC networking overhead.
• Limited Execution Control
  AWS Lambda is designed for stateless, short-running tasks and may not be suitable for long-running processes or tasks requiring complex orchestration.

• Flexible Loan Options
  Ascent offers a variety of loan options including cosigned and non-cosigned loans, allowing students with different financial backgrounds to apply.
• No Cosigner Required for Some Loans
  Ascent provides non-cosigned loan options, which is beneficial for students who do not have access to a cosigner.
• Competitive Interest Rates
  Ascent offers competitive interest rates for both fixed and variable-rate loans, which can help reduce the cost of borrowing.
• Loan Benefits and Rewards
  Borrowers can access features like 1% cash back upon graduation, and forbearance options, which provide financial relief and incentives.
• Flexible Repayment Options
  Ascent provides various repayment plans, such as interest-only payments, deferred payments, and immediate repayment options tailored to different financial needs.

Possible disadvantages

• Eligibility Requirements
  Some loan options have stringent eligibility criteria, including credit score requirements, which may limit access for some students.
• Variable Rates Can Increase Costs
  While variable interest rates can be initially lower, they present the risk of increasing over time, potentially raising the cost of the loan.
• Limited Loan Terms
  The repayment term options may be limited compared to other lenders, potentially leading to higher monthly payments.
• Non-Traditional Loans May Have Higher Rates
  Loans without a cosigner or with non-traditional underwriting criteria might come with higher interest rates to offset the increased risk.
• Cosigner Release Conditions
  For cosigned loans, the conditions for releasing a cosigner can be stringent and may require several years of consecutive, on-time payments.

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Tracking ASCENT since Mar 2021.