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CommonBond Student Loan Review

CommonBond is a partner lender from which we receive compensation. Edvisors® evaluates each lender we partner with and only recommend loan programs which we believe are a best fit for our audience.

What is CommonBond Student Loans

CommonBond launched in 2012 and provides a variety of student loan products, including in-school and student loan refinance options. The company was founded by former business students who sought ways to improve the student loan experience.

CommonBond Student Loans

CommonBond offers a selection of student loan products to best meet the needs of their customers. These loans can be used to help fill funding gaps when federal student aid falls short. CommonBond serves students in undergraduate, graduate, and professional school. Their loans come with no application, origination, or prepayment fees. You may choose a fixed or variable rate student loan.

Loans for Students

CommonBond offers student loans for:

  • Undergraduate students
  • Graduate students
  • MBA students
  • Dental students
  • Medical students

CommonBond student loans come with a variety of repayment terms to choose from:

  1. Deferred Payments: Postpone making payments until after graduation
  2. Fixed Monthly Payments: Make a fixed payment of $25 each month while in school
  3. Interest-Only Payments: Make payments on the interest only while in school
  4. Full Monthly Payments: Begin making full monthly payments while in school
 

Apply for a CommonBond Private Student Loan

Recommendation
Best for Private Loans
Interest Rates

Variable as low as: 4.13% APR1

Fixed as low as: 3.99% APR1

Repayment Terms

5, 10 or 15 years

CommonBond Student Loans Cosigner Release

CommonBond allows borrowers to apply to release the cosigner from their loan after 24 consecutive on-time, full payments. Students must be the age of majority in their state and meet the underwriting criteria on their own to qualify. Periods of forbearance will interrupt consecutive payments.

Pros and Cons of CommondBond Student Loans

Pros Cons
 6-month grace period  A cosigner may be required if you are unable to qualify for the loan on your own
 Forbearance available for economic hardship Loan minimum of $2,000
 Flexible repayment terms Lifetime borrowing limit of $500,000
 Cosigner release available after 24 consecutive on-time, full payments  Periods of forbearance interrupt consecutive payments
 No application or prepayment fees  

CommonBond Student Loan Refinance

CommonBond offers student loan refinancing to help you simplify your life and reach your financial goals faster. CommonBond allows refinance borrowers the ability to check their rate with no impact to their credit score. Eligibility criteria for a student loan refinance include:

  • Good credit
  • Employment
  • Attended a qualified school
  • U.S. citizen or permanent resident*

*CommonBond Also accepts certain visa holders

How CommonBond Gives Back

CommonBond has a 1-for-1 social promise through their partnership with Pencils of Promise. For every loan funded, they support the education of a child in the developing world. CommonBond is the first company to bring the 1-for-1 model to education and finance. CommonBond also started CommonBond for Business to help companies with student loan debt benefit solutions for their employees.

CommonBond Customer Service

CommonBond prides itself on its customer service. Their U.S.-based care team is available via phone or online chat Monday through Friday 9am to 8pm EST. You can also reach out to their care team via email.

CommonBond Headquarters

CommonBond’s office is located in New York, NY.

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