in Student Loan Refinancing from CommonBond, Inc




in Student Loan Refinancing from CommonBond, Inc

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Loan Amount $5,000 - $500,000
Loan Term (Years) 5 - 20 years
Fixed APR 2.98% - 6.81%
Variable APR 2.98% - 6.81%

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
  • CommonBond offers loan terms of 5, 7, 10, 15, and 20 years.
  • 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 2.98% to 6.81%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 2.98% to 6.81% 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 660 and up to 850 may be eligible for CommonBond.

CommonBond does not have or does not disclose a minimum annual income eligibility requirement. CommonBond only considers borrowers who are employed. 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: “Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. 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. If you choose to complete an application, we will conduct a hard credit pull, which may affect your credit score. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Oct 1, 2020 and may increase after consummation.”
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


  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 660 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
Joint Loan Applications Accepted
  • Cosigner
  • Individual Applications
Approval Speed 0 hours
Funding Time Range 7 - 14 days
Unemployment Protection  
Fixed APR 2.98% - 6.81%
Loan Amount $5,000 - $500,000
Variable APR 2.98% - 6.81%
Loan Term 5 - 20 years

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