Unlike traditional lenders, who look exclusively at your credit history and want to provide you the largest loan you qualify for, Sixup focuses on providing funding that will have the greatest impact on positive outcomes. We encourage our borrowers to exhaust their other financing options and scholarships before coming to us.
Despite federal aid and private scholarships, most students still have on average $5,000-$10,000 per year of incremental costs, and that's the gap that Sixup helps to cover. We enable students to upgrade to more selective 4-year colleges which often have higher graduation rates, higher median income after graduation and thus better individual outcomes.
First, our funding is all about financing the gap to support better college outcomes. We don't offer the biggest loans out there, but our funding is designed to bridge the gap between all the federal loans and scholarships you receive and the actual cost to attend. We offer $2,500-$15,000 per year (more than $3000 for residents in Georgia), which is generally the range of the gap for most students.
Second, we select our loan recipients based on your future - not your family's past. Unlike commercial banks, we don't require a credit history, credit score or co-signer. While we do check your credit and use your credit history in our decision-making process, having a credit score is not required to receive a loan from us (there are some cases where having a credit score is required).
Finally, we will support you along the way. We want to be there through your college journey and serve as a connection point. We reward good academic performance, so you could get future funding at a lower rate.