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

Sixup asks students to pay $20* per month until six months after either graduation or not enrolling at least half time (up to 60 months), defer all payments until the end of that period, or switch between the two options. Taking the $20 payment option 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 $176.38, paying a total of $22,245.60, assuming the highest possible rate of 9.933(9.224% APR)%.

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