I was drawn to this company by the promise that education would play an important role in the process and that, if approved, the monwy would be available the next day. It wasn't quite that clear cut, however. I initially logged on to the website on a Wednesday. I did not complete the process at that time because I was still weighing my options. I received a call that afternoon from a representative. This person was very professional and courteous. I informed them that I would make my decision by the next day. I did decide to finish the application, partially based on the follow-up call, and did so on Thursday morning.
I then received an email that evening asking for more documentation that was not originally listed. If it had been, I would have gladly sent it along with the application. The uploading process itself was very easy. So, I uploaded the rest on a Friday morning and received an email that implied that I would hear from them later that day. Nothing. I noted that they had hours of operation on Saturday. I did not hear anything from them that day. I called Monday- it was a holiday- but the phone was answered and my file was said to be complete and that I would hear from them soon. I called again Tuesday morning and was told the same thing. Later that morning I received an email from the person assigned to my file that they had been out since Friday for the weekend. I was a little put out by this, but had already begun to re-evaluate my decision. I contacted a local finance company to begin the process.
I received an email soon after that said I was approved, but they had to wait for the 'clearinghouse' to verify my degree. Also, the interest rate was higher than I had been quoted locally by other companies and that I had received in the past when I have borrowed money. That was disappointing. Since I was informed that the 'clearinghouse' might take a couple of hours or a couple of days to respond, I decided to finish my application with a local company. Within 2 hours I was approved and had my money- and my educational background did not matter. Furthermore, my rate was a full 4 percentage points less than Upstart, with a smaller origination fee.
When I returned to my email, I received word that my application had been approved 'pending additional review.' Then, about an hour later, I received another email telling me that my application had been denied due to my credit dropping 25 points. (That would have been when I accepted the local loan.) Then I received another email expressing regret that I had withdrawn my application.
Overall, it felt like a waste of time. It may work for some people better or, also, if time is not of the essence. Every representative that I spoke with was courteous, but the final two phone reps did not sound as professional as the original one did. They were obviously young and spoke with that annoying, questioning tone that is all too prevalent today. It is not a good phone voice, either. On balance, I could not rate them higher, but they were by no means unpleasant to deal with.
mathmin's review was: