CommonBond is a student loan provider that targets MBA students and graduates from a network of graduate school programs in a variety of fields, such as accounting, nursing, engineering and finance. The company was launched 2012 by David Klein, Michael Taormina and Jessup Shean, all graduates from Wharton Business School. CommonBond loans have extremely low rates and are open to all students and graduates enrolled in a participating school. The company is based in New York City and has a B+ rating with the BBB.

How Does CommonBond Work?

CommonBond provides two types of loans: student loans refinance loans. The rates are extremely low and borrowers can choose terms of up to 20 years and refinance loans of up to $500,000. The loans also provide forbearance and deferral option for when borrowers face financial difficulties and there is no penalty for prepayment. If a loan is approved, the funds are sent directly to the borrower's school. If there is any money left after paying for tuition and fees, the school will pay out the balance directly to the borrower.

What Are CommonBond's Rates?

Rates for refinancing and for private student loans vary depending on whether you choose a variable rate, fixed rate or hybrid loan, the length of the term and your credit profile. 

For student loan refinancing, you can choose between having a variable, fixed or hybrid APR. The variable rate ranges from 2.79% APR to 6.97% APR, the fixed rate ranges from 3.35% APR to 6.99% APR, and the hybrid rate ranges from 3.86% APR to 6.66% APR.

For private student loans, you can choose between having a variable or fixed APR. The variable rate ranges from 3.05% APR to 9.19% APR and the fixed rate ranges from 5.50% APR to 9.92% APR.

How Much Money Can I Borrow from CommonBond?

Students can borrow up to their school's cost of attendance minus scholarships and other loans. The maximum amount is $110,000. Graduates can refinance up to $220,000 in student loans.

Which States Does CommonBond Operate In?

As long as you're a U.S citizen or a permanent resident and either attend an eligible university or attended a participating school you can apply for a loan with CommonBond.

What Is CommonBond's Application Process Like?

Loan applications are done online and take only minutes to complete. Graduates can refinance their student loans, such as federal, private, corporate-sponsored and international student loans. Loans from friends or relatives, personal loans and Bar study loans do not qualify for refinance loans.

How Is CommonBond Better than Other Lenders?

CommonBond gives students and graduates access to extremely low rates and favorable loan terms even if they don't have good credit. There are no prepayment penalties, you don't have to start paying until six months after you graduate and your payments will get paused if you lose your job.

  • Loan Term (Years)
    5 - 20
  • Min Loan
  • Variable APR (Refinancing)
    2.79% - 6.97%
  • Fixed APR (Refinancing)
    3.35% - 6.99%
  • Cosigner Optional
  • Undergraduate Students
  • Graduate Students
  • Parents of Dependent
  • Grace Period / Deferred Interest
  • No Origination Fee
  • Student Loan Type
    • Private
    • Refinance
  • Unemployment Protection
  • Funding Time
    1-2 weeks
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Common Bond allows you to borrow up to the cost of attendance at your school. There are fixed rate and variable rate loans, and the interest rates for both are really low. But watch out for fees, which can eat into what you actually receive.

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