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SuperMoney Net Recommendation Score -71% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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23 users don't recommend
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Upstart is an online lending marketplace that specializes in offering loans to recent college grads with fair to excellent credit. Instead of focusing exclusively on credit scores, credit history, and income, Upstart looks at the education and job history of loan applicants when assessing eligibility.

How Does It Work?

Upstart has developed its own algorithm to calculate the likelihood a borrower will default on a loan. The algorithm includes factors other lenders don't look at so closely, such as area of study and their grades on standardized tests.

The company provides young adults with promising futures but without a lengthy credit history the chance to pay off their debt at lower rates. Even borrowers with less than 10 years of credit history can qualify for low rates, particularly when they have a college-level education. Having a job is not a requirement for borrowers who are attending an Upstart partner bootcamp.

What Are The Rates And Terms?

- Rates range from 6% APR to 29.99% APR depending on how you score with Upstart's creditworthiness algorithm.

- Borrowers can choose loan terms of three or five years depending on eligibility.

How Much Money Can I Borrow?

Loan amounts range from $1,000 to $50,000. 

Which States Do They Operate In?

Upstart operates in all states except West Virginia.

What Is the Application Process Like?

It only takes a few minutes to complete the online application and Upstart performs a soft pull on your credit so that applying won't affect your credit score. As well as the usual credit related questions, the application questionnaire looks into your level of education, what you majored in, your salary and your field of work. After a couple of minutes, you will receive a preliminary rate based on the information you provided. Final approval is contingent on verification of the submitted information.

The minimum FICO score to qualify for a loan is 620 and Upstart requires borrowers to have a source of regular income. 

How Is It Better Than Other Lenders?

Upstart allows college graduates with limited credit history to qualify for competitive rates by using a new data-driven method of identifying creditworthy clients. This creates a more comprehensive view of borrowers' likelihood to default. It also gives a chance to recent graduates loaded down with debt or who need start-up cash to get their careers going. The application process is simple; there is no prepayment penalty, and rates are fixed.

This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Duplicate offers received as a result of multiple injuries by the same person are void. This offer may be accepted only by the person identified in this offer and legally able to enter into a contract for the extension of credit and a U.S. citizen or permanent resident and currently a resident in the US. You may be eligible for loan amounts from $1,000 to $50,000, subject to final loan approval. The minimum loan amount is $6,000 for borrowers in Ohio and $7,000 for borrowers in Massachusetts. APRs range from 6.00% - 29.99%. Not all applicants will qualify. Loan approval, APR and loan amount will be determined based on your credit, income and other information provided in the application. Closing your loan is contingent upon you meeting our eligibility requirements, our verification of your information and your agreement to all of the terms and conditions on the website. If you accept your loan by 5 PM ET (except weekends and holidays) you will receive your funds the next business day. Education-related loans are subject to a mandatory 3 business day waiting period, following the applicant’s acceptance of the loan terms. is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


Available in 49 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee
Late Fee Amount
Origination Fee
0% - 8%
Minimum Age
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Only Individual Applications
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Credit Score Range
620 - 850
850 300 620
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income
Bank Account Required?
Verification Documents Required?
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Funding Time Range (in days)
1 - 7
0 14
Approval Speed (Hours)
Pre-Approved Soft Credit Inquiry
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
Customizable Payment Dates
Loan Term (Months)
36 - 60
1 180
Loan Amount
$1K - $50K
$100 $100K+
6% - 29.99%
4% 100%+


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