Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Student Loans Sixup Student Loans Review Updated Jul 13, 2023   |   4-min read Reviewed by Jeff Gitlen, CEPF® Reviewed by Jeff Gitlen, CEPF® Expertise: Student loans, personal loans, home loans, insurance, credit cards Jeff Gitlen, CEPF®, is the director of content operations at LendEDU. He graduated from the Alfred Lerner College of Business and Economics at the University of Delaware. Learn more about Jeff Gitlen, CEPF® Check Ratesat Sixup’s secure websiteEditorial RatingEditorial RatingWhat we like:Unique Acceptance ProcessFixed APR6.58% – 9.19%Variable APR6.28% – 9.22%Loan TermsNot providedLoan Amounts$2,500 to $15,000 per year.Compare the best private student loansCompare Lenders If you’re an undergraduate looking for private loans for college, you may have come across the online lender, Sixup. Sixup is a new kind of student loan company that has a unique acceptance process. They market themselves as a company that seeks to help low-income borrowers and first-generation college students. And they actually put their money where their mouth is; borrowers aren’t required to have any credit history or use a cosigner to apply for a loan. Applicants’ credit score isn’t the primary relevant factor to the approval process for a Sixup loan. Let’s look at how Sixup got started and exactly how they differ from other online lenders. In this review: Rates, Amounts, Repayment, & EligibilityPros of Sixup Student LoansCons of Sixup Student LoansSixup BackgroundAlternatives to Sixup Sixup Student Loans Overview Application Process Sixup’s application process is simple and you can get started online in just minutes. The initial application will take about 10 minutes and the full application will take around 20 minutes. Loan Amounts, Interest Rates, & Repayment Terms Sixup provides loan amounts between $2,500 and $15,000. Current fixed interest rates range from 6.455% APR to 9.029% APR and variable interest rates range from 6.674% APR to 9.065% APR. Eligibility Requirements Sixup’s model is different than traditional online lenders because they don’t require an extensive credit history or a cosigner. Instead, they look at an applicant’s financial need and academic performance. They want to provide loan options to students who are high academic achievers and might not have access to funding. Sixup student loans are offered to U.S. residents that are attending a four-year college and for-profit schools are not eligible. They are currently available in the following states: Arkansas, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Massachusetts, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, Oregon, Texas, Virginia, West Virginia, and Wisconsin. Pros of Sixup There are a lot of advantages to taking out a loan through Sixup, especially for low-income students. Their loans are easy to apply for and unlike most lenders, they don’t require a cosigner. This is a huge advantage to anyone with a limited credit history and no access to a cosigner. And they make an effort to reach out to groups of students that might otherwise be overlooked. Cons of Sixup On the downside, their loan rates compared to other student loan lenders are relatively high, so you may be able to lock in better rates elsewhere. Plus, Sixup is only available to residents who are living in certain states, which means they will be inaccessible to many borrowers. Additionally, you won’t be able to refinance your loans directly through Sixup, although other restructuring options are available. Sixup Student Loans Background Sixup was founded in 2015 and is currently based in San Francisco. But it’s the story of how they got started that is more interesting. Many of Sixup’s founders were first-generation college students that came from low-income families. Attending college was a struggle because they had to work multiple jobs to pay for school after maxing out their federal loans. They started Sixup in an effort to help keep other students from struggling the way they did. This is why their focus is on first-generation and low-income college students. What is unique about Sixup is the company does more than just provide student loans. They also help students transfer to better schools, succeed in school, and find better jobs after they graduate. Alternatives to Sixup Loans You should always consider all your options before deciding on a lender. Make sure to compare Sixup’s rates to other banks and online lenders like Funding University or Ascent, who also offers no cosigner student loans. Make sure you take advantage of as many scholarship and grant opportunities as possible before taking out additional loans. Many people in Sixup’s target market will find they have access to income-oriented scholarships that they weren’t previously aware of. Other Options to Consider: Best Private Student Loan CompaniesStudent Loans for Bad CreditList of Student Loan Companies Bottom Line Sixup student loans provide a unique opportunity to first-generation, low-income colleges students who might have trouble accessing financing. For student loans without a cosigner, their interest rates are relatively low, though still higher than federal student loan interest rates. While their current geographic reach is limited, Sixup does have plans to expand their loan programs nationwide. This will allow them to provide loans to more students. However, make sure to explore all of your options before deciding on a borrower. While they are a noble company with a unique process, there are limits to taking out a loan from Sixup.