Features

Upstart is a student loans 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 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. This is because over a long-term repayment, lenders could lose out on money if interest rates rise.


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

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 penalties?

Yes, Upstart charges additional fees to borrowers who pay off their loans soon than anticipated. Take this into consideration when choosing a lender because prepayment penalties 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 students
  • graduate students

What do you need to qualify for a Upstartloan?

Active duty servicemembers and their covered dependents cannot apply for a loan via Upstart. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.

 

To qualify, applicants must provide the following documentation:

     

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

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

  • Loan Term (Years)
    3 - 5
  • Min Loan
    $1000
  • Fixed APR
    8.69% - 29.99%
  • Undergraduate Students
  • Graduate Students
  • Origination Fee
    1% - 8%
  • Funding Time Range (in days)
    7 - 14
"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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