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  CommonBond Student Loan Refinance

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CommonBond Student Loan Refinance
in Student Loan Refinancing from CommonBond, Inc

Not Currently Available

CommonBond Student Loan Refinance

in Student Loan Refinancing from CommonBond, Inc
SuperMoney Net Recommendation Score +93  


This product is strongly recommended by SuperMoney users with a score of +93, equating to 4.9 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

14 users recommend
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Splash Financial Student Loan Refinance
Splash Financial Student Loan Refinance 31 reviews
Community Rating Strongly recommended
Loan Amount $5,000 - $500,000
Loan Term (Years) 5 - 20 years
Fixed APR 2.59% - 6.74%
Variable APR 2.5% - 6.85%
Number of Reviews 15

CommonBond Student Loan Refinance Review

CommonBond Student Loan Refinance is no longer available to new customers on SuperMoney.

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CommonBond Student Loan Refinance is a student loan refinance offering by CommonBond, Inc, . Founded in 2012, CommonBond, Inc offers student loan refinancing in 48 states (and Washington, DC).

CommonBond Student Loan Refinance Pros & Cons
Pros Cons
  • Offers borrowers 24 months of forbearance throughout the life of the loan – 2x the industry standard.
  • If you are unable to make on time payments due to unforeseen circumstances, you can apply for a temporary hold.
  • CommonBond offers the option to add a cosigner with strong credit and income, if you are not eligible on your own.
  • You need a minimum credit score of 680 to qualify.

CommonBond Student Loan Refinance FAQ

What APRs does CommonBond Student Loan Refinance offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

CommonBond Student Loan Refinance offers variable rate APRs that range from 2.5% to 6.85%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 2.59% to 6.74% APR.

How much can you borrow via CommonBond Student Loan Refinance?

Loan amounts start at $5,000 and go up to $500,000

Does CommonBond Student Loan Refinance charge an origination fee?

No, CommonBond Student Loan Refinance does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does CommonBond Student Loan Refinance charge prepayment fees?

No, CommonBond Student Loan Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does CommonBond Student Loan Refinance offer?

CommonBond Student Loan Refinance provides refinancing loans of 5 to 20 years.

It also offers borrowers unemployment protection. This means that if you lose your job through no fault of your own your loan payments may qualify for a temporary hold.

What type of borrowers will CommonBond Student Loan Refinance consider?

CommonBond Student Loan Refinance considers loans applications from:

  • undergraduate degree holders
  • graduate degree holders
  • parents of graduates

What do you need to qualify for CommonBond Student Loan Refinance?

Applicants with a credit score of at least 680 and up to 850 may be eligible for CommonBond Student Loan Refinance.

To qualify for student loan refinancing with CommonBond Student Loan Refinance, applicants need a minimum annual income of $65,000 or higher. CommonBond Student Loan Refinance only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via CommonBond Student Loan Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by CommonBond Student Loan Refinance. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Government issued photo ID
  • Proof of identity
  • Proof of citizenship or residence permit

What is the estimated funding time for a student loan refinance via CommonBond Student Loan Refinance?

CommonBond Student Loan Refinance will typically provide a credit approval decision in less than an hour and fund the loan within 7 to 14 days.

CommonBond Student Loan Refinance Disclosure: All Annual Percentage Rates (APRs) are current as of October 26, 2020 and assume borrowers enroll in auto pay for the life of the loan which accounts for a 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Oct 1, 2020, which may adjust monthly and may increase after consummation. If you choose to complete an application, we will conduct a hard credit pull, which may affect your credit score. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900),
SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From CommonBond, Inc

CommonBond believes that if you are still paying the same interest rate as you were in college, you’re paying too much on your student loans. Refinancing with CommonBond allows you to reset and find an interest rate that matches who you are now and where you’re going next. Better yet, CommonBond offers an easy-to-use online platform, industry-leading protections, and an award-winning Care Team who actually know how to help. CommonBond is also the only finance company with a one-to-one giving model: for every loan CommonBond funds, it funds the education of a child in the developing world.

Message From Our Editor

What We Love About CommonBond Student Loan Refinancing

CommonBond refinancing loans offer a wide range of loan amounts at competitive rates. It has a longer than usual forbearance period (up to 24 months) and allows you to refinance Parent Plus loans in your own name. There is no downside to checking your rates with CommonBond because they use a soft credit check to determine eligibility. This means checking your rate will not impact your credit score. 

What Could CommonBond Do Better?

CommonBond student loan refinancing is not available in all states and they don't offer financing to associate degree holders. It also requires a minimum credit score and proof of income. This is common with student loan refinance lenders, but it does mean some students will not qualify for a loan. 

CommonBond’s Backstory

CommonBond is a marketplace lending platform that connects borrowers with institutional investors. It was founded in 2012 by financial experts and is now headquartered in New York City.

The Verdict

CommonBond is an online lender that offers both student loan refinancing and private student loans. It is a particularly attractive option for borrowers who have a bachelor's degree and value repayment flexibility. Its private student loans are a good option for borrowers who were already considering a co-signer and for whom customer support is important.


Hours of Operation

  • Sunday Closed
  • Monday Closed
  • Tuesday Closed
  • Wednesday Closed
  • Thursday Closed
  • Friday Closed
  • Saturday Closed

Other Services by CommonBond, Inc


  Available in 48 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

No Interest Grace Period for Late Payment 6 days
No Origination Fee
No Prepayment Fee
Co-signing Allowed
Cosigner Optional
Credit Score Range 680 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Annual Income $65,000
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Approval Speed 0 hours
Funding Time Range 7 - 14 days
Payment Options Automatic Payments
Unemployment Protection
Fixed APR 2.59% - 6.74%
Loan Amount $5,000 - $500,000
Variable APR 2.5% - 6.85%
Loan Term 5 - 20 years

CommonBond Student Loan Refinance Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +93, equating to 4.9 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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