Features

Where does CommonBond do business?

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).

What rates does CommonBond offer for in-school private student loan?

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.

What is the minimum student loan amount you can borrow?

CommonBond requires borrowers to have a balance of at least $5000 to process an in-school private student loan application.

Does CommonBond charge an origination fee?

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.

Does CommonBond charge prepayment penalties?

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.

What terms does CommonBond offer?

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.

What type of borrowers will CommonBond consider?

CommonBond considers loans applications from:

  • undergraduate students
  • graduate students

 

  • Loan Term (Years)
    5 - 20
  • Min Loan
    $5000
  • Fixed APR
    5.5% - 9.92%
  • Cosigner Optional
  • Undergraduate Students
  • Graduate Students
  • Parents of Dependent
  • Grace Period / Deferred Interest
    6
  • No Origination Fee
  • Student Loan Type
    Private
  • Variable APR
    3.05% - 9.19%
  • Funding Time Range (in days)
    7 - 14
  • Unemployment Protection
  • Up to Cost of Attendance
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