CommonBond is a student loans lender based in New York, NY. It was founded in 2012 and offers student loans in 50 states (and Washington, DC).
CommonBond offers variable rate APRs that range from 3.05% to 9.19%.
CommonBond offers fixed rate APRs that range from 5.5% to 9.92% APR.
CommonBond requires borrowers to have a balance of at least $5000 to process an in-school private student loan application.
No, CommonBond does not charge a loan origination fee.
A loan origination fee is what some student loan providers charge for underwriting, processing, or funding a loan. Lenders can charge borrowers 0.5% to 5% of the loan amount. In most cases, it is best to choose a lender that does not charge an origination fee, such as CommonBond.
Yes, CommonBond charges additional fees to borrowers who pay off their loans soon than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.
CommonBond provides loans of 5 to 20 years.
Borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.
CommonBond offers borrowers unemployment protection. This means that if you lose your job -- or you have just finished school -- your loan payments are placed on a temporary hold.
CommonBond considers loans applications from: