If I take a Sixup loan, how much will I have to pay back and when?

Sixup asks students to pay $20/month while in school* -- this helps to build healthy credit behavior and chip away at your loan amount over time. And paying on time may help you to have a positive credit file. 

Your loan will enter into full repayment the earlier of: (a) six months after you graduate, (b) six months after enrollment less than half-time, or (c) 60 months after the loan has been disbursed. 

The amount you will pay each month in repayment will depend on how much you borrowed and at what interest rate. 

* For a $10,000 loan, assuming you make 54 payments of $20 a month for an academic deferment period of 48 months of school plus 6 months, you will then make 120 monthly payments of $172.42, paying a total of $21,770.40, assuming the highest possible rate of 9.49%.

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2 Comments

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    Mily Polo

    Say I get a yearly loan, will I have to pay $20/month for the first loan that I received plus an additional $20/month if I get more loans? 

  • 0
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    Jessie

    You can choose to add on additional $20/mo for each loan, or only keep it at $20/mo. 

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