in Student Loan Refinancing from CommonBond, Inc

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in Student Loan Refinancing from CommonBond, Inc

Net Recommendation Score +100


This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.


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Loan Amount $5,000 - $500,000
Loan Term (Years) 5 - 20 years
Fixed APR 2.59% - 6.74%
Variable APR 2.58% - 6.89%

CommonBond Review

CommonBond 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 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 FAQ

What APRs does CommonBond 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 offers variable rate APRs that range from 2.58% to 6.89%.
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?

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

Does CommonBond charge an origination fee?

No, CommonBond 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 charge prepayment fees?

No, CommonBond 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 offer?

CommonBond 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 consider?

CommonBond considers loans applications from:

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

What do you need to qualify for CommonBond?

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

To qualify for student loan refinancing with CommonBond, applicants need a minimum annual income of $65,000 or higher. CommonBond 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.

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

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

CommonBond 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.


  • Headquarters
  •   524 Broadway, 6th Floor
    New York, NY 10012
  •   Visit Site

Other Services by CommonBond, Inc

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.


  Available in 48 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • 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
Joint Loan Applications Accepted
  • Cosigner
  • Individual Applications
Minimum Annual Income $65,000
Approval Speed 0 hours
Funding Time Range 7 - 14 days
Unemployment Protection
Fixed APR 2.59% - 6.74%
Loan Amount $5,000 - $500,000
Variable APR 2.58% - 6.89%
Loan Term 5 - 20 years

CommonBond Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 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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