To qualify for a loan, all loan borrowers must:

1) be a U.S. citizen currently living in the U.S., or a permanent resident currently living in the U.S.; (unless military personnel on active duty, in which case it is not required that the applicant be currently living in the US.)

2) be at least 18 years old;

3) have a valid email account;

4) have a verifiable name, date of birth and social security number;

5) have a full time job, a full time job offer starting in 6 months (except if accepted to a partner bootcamp and seeking employment after graduation), a regular part time job or another source of regular income;

6) have a personal banking account at a U.S. financial institution with a routing transit number;

7) meet our minimum credit requirements; and

8) if an existing borrower on the Upstart Loan Program, the borrower/applicant must (i) have made on-time payments for your 6 previous consecutive payments, with no failed payments , (ii) have no more than one outstanding loan in the Upstart Loan Program at the time of application, and (iii) have no more than $50,000 of total principal outstanding at the time the loan originates.

9) if you have finished paying off an existing loan and made on-time monthly payments for the 6 previous consecutive months, you are able to apply for a second loan after your most recent payment is cleared (14 days from the payment date). 

If you have finished paying off an existing loan and any of the 6 most recent monthly payments were not on time or you paid off the loan before reaching 6 monthly payments, there is a 60 day cooling off period before reapplying.