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 has a minimum loan amount of $5,000.
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.
Yes, CommonBond charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees 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: