They do a thorough check and hence provide the great rates. Amazing customer service and support. Would definitely recommend.
dhanwaniravi's review was:
The process was very easy and there was always someone there to assist you along the way. Very wonderful folks at upstarts to really get my financial life back on track. I am very appreciative of the opportunity they gave me to really bring my life back together. I just want to say thank you to the upstart team :)
kenlui1's review was:
The do not use your credit score to approve loans. I and my wife have 800 credit scores, plenty of income and assets, and they would not approve us because we hadn't fiananced many vehicles in the past. I guess you get penalized for paying cash.
I remember stumbling upon Sofi during the summer before my freshman year. I was at a total lost because I had no financial aid as a middle class student. Loans were my only option, I maxed out my federal loans for the year and still needed to cover my required dorm expenses. My parents and several other family members got denied for student loans.
At the time Sofi was fairly new and didn't require a cosigner. So I applied and was approved for a 16,000 dollar loan. It seemed too good to be true after a while summer of searching a week before school I struck luck.
Intrest Rate: 6.49%
Payments: $167 per month for 178 months/ 15 years
You can opt in/out for full deferment or interest only
You also choose the own terms of your plan. I chose one of the longer payment options because of the horror stories I've heard from students who pick loan terms that aren't ideal with their post grad salary and later have to refinance or default. I do however plan on paying more once I have decent income.
Also Sofi is very understanding when it comes to forbearance request and grace periods. There were several instances when I left my university for financial or mental health issues. I then went to a local community college while I regathered myself.
The bad news is that most schools didn't auto- report to Sofi so my loans did go into repayment, almost every semester that I wasn't enrolled at my normal university. The good news is that they process request extremely fast 2-5 days usually 3. They really don't want to ruin your credit any more than you do.
30 days late = report to credit agency
90 days late = default
45 day period forbearance after approved request expires
6 month grace period after graduation before repayment begins
SoFi now requires a cosigner so it maybe harder to get now but if I ever needed another student loan I'd choose SoFi first over all other companies.
NichelleJn's review was:
Thanks to Mitch, I am on my way to bigger and better things. After this month, I can see the light at the end of the tunnel getting brighter. I will once again be able to do things that need done. I can get myself back to an excellent position that I was at a couple years ago. I am very pleased with the way Mitch handled this for me, the options he gave me, and the follow up when I called with the good news. I don't like being in this position, but am very happy for people like Mitch. I see a much brighter future again for me. I found out the hard way how people can get into these situations very quickly. Consolidated Credit has taken over and I am happy. Thank You, Pat Burns
I applied for this loan through Credit Karma, of which I've been a long time member. Had a credit card that was a huge thorn in my side with a ridiculous interest rate. Would have taken SO long to pay it off. Applied for a loan with Lending Club and was approved right away with a surprisingly low interest rate. I will be able to pay off that credit card now in full and will only take 36 months to pay off this loan. Saved me a ton of money. Also, easy steps process and money was in my account within days! Very happy and impressed!
dsalemmo's review was:
I recently applied for a $5000 loan from Springleaf due to credit karma advising me that I had a "very good" potential for approval. My credit score at that time was 640. I will spare you the details of the malfunctioning online process but will say that after calling I was told I had good payment history and a decent debt to income ratio, so there should be no problem despite my lower credit score. I was told I would be called within 3 hours but after 5 hours of waiting I called the rep. back only to get a voice mail to which I left a message. The next day I still had not heard back so I called the general customer service line. I was told I was not approved due to my debt budget. While I am more than capable of paying for this loan, (I wouldn't not have applied for it had I not already set up a budget for it) I can understand the reasoning. What bothered me overall was the poor customer service and the fact that credit karma said I had "very good" odds. If I wouldn't have seen that I probably could have just gone to my bank, who knows and trusts me, and walked out with the loan the same day. Lastly, I have tried to post this review 3 times but it logs me out each time. Makes me think credit karma might be screening these bad reviews for this company.
SamAff's review was:
This was the first time I ever applied for an "online loan". I only did it because Credit Karma reccommended it to me as a way to begin to raise my credit scores. I asked to borrow $250.00 for a period of 14 days. I was approved instantly! I applied on Monday, and the money was direct deposited into my bank account on Wednesday (today!). I now plan to borrow a small amount of money from LendUp at least once a month, until it reflects on my credit report by way of a higher credit scores, that I am a person who can be fully trusted to pay back his loans early, or on the exact day the loan is due. Lastly, I see that some people wrote that they had a bad experience with LendUp. Well I had no such experience!
Darkvoice52's review was:
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