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Private Student Loans
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Last Updated: 04/18/2025

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CommonBond Private Student Loans

in Private Student Loans from CommonBond, Inc

Last Updated: 04/18/2025

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Fixed APR

5.79% - 10.74%
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Variable APR

5.92% - 9.39%
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Amount Range

$2,000 - $500,000
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CommonBond Private Student Loans Review

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:

    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.
    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 14 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.

    CommonBond Private Student Loans logo

    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.
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    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

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    524 Broadway, 6th Floor
    New York, NY 10012
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