Friday, July 1, 2022
HomeBusinessSixup Student Loans Review

Sixup Student Loans Review


Find the Best Student Loans for You

Sixup only offers undergraduate student loans for low-income, high-potential borrowers. Loans are available for students attending four-year nonprofit colleges who have a funding gap after maximizing federal, state and institutional aid, scholarships and work study, as well as students transferring from a two- to four-year nonprofit college.

Currently, undergraduate loans are offered by Sixup in these locations:

  • Arkansas
  • California
  • Colorado
  • Connecticut
  • District of Columbia
  • Florida
  • Georgia
  • Massachusetts
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • Oregon
  • Texas
  • Virginia
  • West Virginia
  • Wisconsin

Sixup offers undergraduate loans with fixed and variable interest rates. Loan terms last for 10 years, with a borrowing range of $2,500 to $15,000 per academic year. Georgia residents must borrow at least $3,000 and the minimum loan amount for California residents is $5,000. Sixup doesn’t offer discounts, but repeat borrowers who apply for new loans may qualify for lower rates if they have a positive account history. The total amount you can borrow over the course of your undergraduate career is $60,000.

Sixup doesn’t require a credit history to be approved for student loans. While your credit score and history are checked as part of the decision-making process, a low credit score or thin credit file doesn’t necessarily work against you. If you have a credit score, a FICO score of 600 is recommended. Sixup also takes into account your overall indebtedness, academic standing and grade point average for loans. Co-signers are not accepted.

Sixup offers deferment periods for students who are still in school, during the six-month period following graduation and at any time when you’re enrolled less than half-time, up to 60 months. During the deferment period, borrowers have the option of making nominal, interest-only payments toward their loans at a rate of $20 per month. All Sixup student loans have a 10-year repayment term.

Forbearance periods are available in certain situations when you have a documented and verifiable hardship, such as a job loss or reduction in hours. Forbearance periods are granted on a case-by-case basis and can extend up to 18 months over the life of the loan.

Along with loans, Sixup offers scholarships for undergraduate students. Scholarships are worth $5,000 per academic year. Applicants must submit an essay and meet the scholarship program’s GPA and academic requirements to be considered.

Sixup is currently not rated with the Better Business Bureau, nor does it have a rating on Trustpilot.

  • Undergraduates who have exhausted all sources of federal student aid.
  • Undergraduates without enough credit to qualify for other private student loans.
  • Undergraduates who have financial need and a solid academic record.



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments