SuperMoney
Explore
This product is no longer available to new customers.
Advertiser Disclosure
  CommonBond Private Student Loans

Not Currently Available

CommonBond Private Student Loans
in Private Student Loans from CommonBond, Inc

Not Currently Available

CommonBond Private Student Loans

in Private Student Loans from CommonBond, Inc
Net Recommendation Score -100  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

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.

Rating not yet determined  

0 users recommend
0 users are unsure
1 user doesn't recommend
Leave a Review
Explore a similar product
Try this top product in Private Student Loans.
Ascent - Cosigned Student Loans
Ascent - Cosigned Student Loans

Strongly recommended

12 reviews
Learn More
Highlights
Community Rating

Rating not yet determined  
Loan Amount $2,000 - $500,000
Fixed APR 5.79% - 10.74%
Variable APR 5.92% - 9.39%

CommonBond Private Student Loans Review

CommonBond Private Student Loans is no longer available to new customers on SuperMoney.

Click here to compare Private Student Loans and quickly find the best options for your needs.

CommonBond Private Student Loans is offered by CommonBond, Inc, a marketplace lending platform founded in 2012 and based in New York, NY. CommonBond Private Student Loans are available in 48 states (and Washington, DC).

CommonBond Private Student Loans FAQ

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

CommonBond Private Student Loans has a variable APR that ranges from 5.92% up to 9.39%.

It offers a fixed APR that ranges from 5.79% up to 10.74%.

Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.

How much can you borrow from CommonBond Private Student Loans?

Available loan amounts may vary by applicant but CommonBond Private Student Loans has a minimum loan amount of 2K and offers loans up to 500K.

Does CommonBond Private Student Loans charge an origination fee?

Yes, CommonBond Private Student Loans charges a loan origination fee of 2% of the loan amount. CommonBond Private Student Loans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow. Origination fees and requirements vary by state.

Does CommonBond Private Student Loans charge prepayment fees?

No, CommonBond Private Student Loans 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 Private Student Loans offer?

CommonBond Private Student Loans provides repayment terms ranging from 5 to 15 years.

CommonBond Private Student Loans 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 Private Student Loans consider?

CommonBond Private Student Loans considers loans applications from:

  • undergraduate students
  • graduate students
  • parents of students

What do you need to qualify for CommonBond Private Student Loans?

Applicants with a credit score of at least 660 and up to 850 may be eligible for CommonBond Private Student Loans.

CommonBond Private Student Loans does not have or does not disclose a minimum annual income eligibility requirement. CommonBond Private Student Loans only considers borrowers who are employed.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by CommonBond Private Student Loans.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Proof of citizenship or residence permit

Is CommonBond, Inc a legit company?

CommonBond, Inc was founded in 2012, it is a well-established company that has been in business for 11 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

CommonBond Private Student Loans 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 0.16% effective Oct 25, 2020 and may increase after consummation.”
SuperMoney Disclosure: SuperMoney.com 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.

Message From CommonBond Private Student Loans

CommonBond was founded in 2012 by students who asked the question: why does paying for school have to be so complicated and expensive? Since then, CommonBond has helped thousands of students pay for their degree – without the hassle, frustration, and expense. CommonBond offers competitive rates, 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 Loans

CommonBond offers private student loans with low minimum amounts and high maximum amounts. No matter the amount that you need to borrow to pay for your education, there’s a good chance that CommonBond has a loan for you.

The company also offers refinancing with similarly low minimums and high maximums. Loan terms are flexible so you can customize your monthly payment. Both fixed and variable interest rates are available, with variable rate loans tending to have lower interest rates.

If you’re still in school when you get a loan, you can choose from a few different repayment options, including full deferment until six months after you graduate, fixed monthly payments of $25 until six months after you graduate, interest-only payments while in school, or full regular payments.

What could CommonBond Student Loans do better?

CommonBond has some strict requirements for eligibility. You need to have good credit if you want to refinance or are taking out a loan for an MBA. Current students need a cosigner and must be enrolled at least half-time in classes.

Based on these eligibility requirements, many students won’t be able to qualify for a loan from the company.

CommonBond Student Loans’s backstory

CommonBond was founded in 2011 and helps students pay for undergraduate education as well as MBAs at select schools around the country. Since 2012, the company has funded more than $3 billion in student loans. The company has partnered with Pencils of Promise to help support education in underprivileged areas outside the United States.

The Verdict

If you have a cosigner or strong credit, CommonBond offers large loans and refinancing options with reasonable interest. If you’re shopping around for a student loan, the company is definitely worth considering.

Contact

Hours of Operation

  • Sunday Closed
  • Monday Closed
  • Tuesday Closed
  • Wednesday Closed
  • Thursday Closed
  • Friday Closed
  • Saturday Closed

Other Services by CommonBond, Inc

Icon for Investment

Marketplace Investing

Be the first to rate
Icon for Refinance

Student Loan Refinancing

14

15 Reviews

Availability

  Available in 48 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • 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
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee Amount $10
No Interest Grace Period for Late Payment 6 days
No Prepayment Fee
Origination Fee (%) 2%
Cosigner Optional
Credit Score Range 660 - 850
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Proof of citizenship/residence (Green Card)
  • Proof of Income
Funding Time Range 7 - 14 days
Unemployment Protection
Loan Term 5 - 15 years
Up to Cost of Attendance
Fixed APR 5.79% - 10.74%
Variable APR 5.92% - 9.39%
Loan Amount $2,000 - $500,000

CommonBond Private Student Loans Community Reviews

 

Would you recommend CommonBond Private Student Loans to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

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.

sorted by

Other Private Student Loans

Strongly recommended

12 Reviews

Rating not yet determined  

4 Reviews

Mostly recommended

17 Reviews

View All
Check out this Private Student Loans option instead:
Ascent - Cosigned Student Loans
Ascent Funding LLC
Strongly recommended
Browse Private Student Loan Lenders
SuperMoney
Best Picks
Partner with us
Go to homepage
AICPA SOC for Service Organizations badge SOC 2 Type II Monitored by Vanta badge

Copyright 2023 SuperMoney, LLC. All rights reserved.

SuperMoney Advertiser Disclosure

*SuperMoney is not responsible for third party products, services, sites, recommendations, endorsements, reviews, etc. All products, logos, and company names are trademarks™ or registered® trademarks of their respective holders. Their use does not signify or suggest the endorsement, affiliation, or sponsorship, of or by SuperMoney or them of us.

Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any financial institution. This editorial content is not provided by any financial institution.

SuperMoney.com 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. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). SuperMoney strives to provide a wide array of offers for our users, but our offers do not represent all financial services companies or products.

We endeavor to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

† To check the rates and terms you qualify for, one or more soft credit pulls will be done by SuperMoney, and/or SuperMoney's lending partners, that will not affect your credit score. However, if you choose a product and continue your application at a lending partners' website, they will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.