Where does Upstart do business?

Upstart is a marketplace lender based in San Carlos, CA. It was founded in 2012 and offers student loan refinancing in 50 states (and Washington, DC).

What APRs does Upstart offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 8.69% to 29.99% APR.

How much can you borrow via Upstart?

Loan amounts start at $1,000 and go up to $200,000

Does Upstart charge an origination fee?

Yes, Upstart charges a loan origination fee of 1% to 8% of the loan amount. Upstart deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does Upstart charge prepayment fees?

Yes, Upstart charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.

What terms does Upstart offer?

Upstart provides refinancing loans of 3 to 5 years.

What type of borrowers will Upstart consider?

Upstart considers loans applications from:

  • undergraduate degree holders
  • graduate degree holders

What do you need to qualify for a Upstart student loan refinance?

Upstart doesn’t disclose its credit score minimum.

What is the estimated funding time for a student loan refinance via Upstart?

Upstart will typically fund loans within 7 and 14 days of approval.

  • Institution Type
    Marketplace Lending Platform
  • Origination Fee
    1% - 8%
  • Funding Time Range (in days)
    7 - 14
  • Loan Amount
    $1000 - $200000
  • Loan Term (Years)
    3 - 5
  • Fixed APR
    8.69% - 29.99%
"The average 3-year loan on Upstart will have an APR of 18% and 36 monthly payments of $27 per $1,000 borrowed. The average APR on Upstart is calculated based on 3-year rates offered in the last 1 month."
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