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  CommonBond Private Student Loans

CommonBond Private Student Loans

in Private Student Loans from CommonBond, Inc

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CommonBond Private Student Loans

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in Private Student Loans from CommonBond, Inc

Net Recommendation Score -100%

SUPERMONEY NET RECOMMENDATION SCORE

-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.

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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 offered by CommonBond, Inc, a marketplace lending platform founded in 2012 and based in New York, NY. CommonBond Private Student Loans is 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 are, of course, eligible for the services offered by CommonBond Private Student Loans. Permanent resident / green card holders are also eligible to apply.

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

  • Proof of income
  • Proof of citizenship or residence permit
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.

Contact

  • Headquarters
  •   524 Broadway, 6th Floor
    New York, NY 10012
  •   Visit Site

Other Services by CommonBond, Inc

Message From CommonBond, Inc

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.

Availability

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

Feature Breakdown

No Interest Grace Period for Late Payment 6 days
No Prepayment Fee  
Late Fee Amount $10
Origination Fee (%) 2%
Cosigner Optional  
Credit Score Range 660 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Proof of Income
  • Proof of citizenship/residence (Green Card)
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

 

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SUPERMONEY NET RECOMMENDATION SCORE

-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.

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