CommonBond Student Loan Refinance Review

#6 in Student Loan Refinance



CommonBond is an online student loan service that connects students with investors. It makes student loans more affordable with its refinancing program while offering a convenient online application process. CommonBond provides a variety of refinancing programs that uses fixed, variable and hybrid rates to help you find a student loan solution tailored to your unique needs.  


Loan Limits

CommonBond works with graduates of over 2,100 schools in the U.S. to refinance up to $500,000 in student loan debt.

  • Up to $500,000 for student loan consolidation


Loan Terms


Choose the loan term that best fits your lifestyle. CommonBond’s innovative hybrid loan allows a borrower to take advantage of a lower fixed rate for the first 5 years of the loan.

  • 5, 10, 15 and 20 years loan terms
  • Loan terms of up to 20 years are available for fixed and variable student loans. Hybrid rates which start with a 5 year fixed rate and switch to 5 variable rates come with a 10-year loan term. 


Loan Rates

CommonBond offers three types of loans. Hybrid loans give a client the option of starting with a fixed rate, which switches to a variable loan after a set period of time.

  • Fixed
  • Variable
  • Hybrid

Save with auto payments

Yes. Save 0.25% of your student loan rates by signing up for automatic payments.


Unemployment Protection

Momentarily stop student loan payments, terms and conditions apply.

Loan Related Fees

  • Origination & application fees
  • None
  • Prepayment Penalties
  • None. CommonBond does not penalize you for paying your student loans early.


Student Loans at CommonBond

Qualifying for a student loan or refinancing may be a bit difficult for those with less than ideal credit profiles. The limited school list for their postgraduate school loan program also needs a bit of improvement. Loan rates however were quite competitive so if you’re searching to refinancing your existing private or federal school loan, CommonBond is definitely worth a visit.




Latest Reviews

Start your review for CommonBond Student Loan Refinance
Ruchi Patel
Piscataway, New Jersey
CommonBond Student Loan Refinance review
I refinanced a federal Parent PLUS loan using CommonBond and changed ownership from my mother to myself. Changing loan ownership from parent to student is an option that few competitors provide. I had been making the paymetns on the loan anyway, but the federal rate was very high at 7.9%. With my excellent credit score of over 800, I was able to get it cut in half with a variable rate loan with CommonBond. I loved having the different repayment option combinations (rate, fixed vs variable vs hybrid, term) easily visible on a single screen during the application. The application process was a bit more complicated than it initially had seemed and took longer than anticipated (took over a month to finalize), but it was well worth it in the end. I believe the hold up to have been from the underwriters, but the CommondBond customer service reps always did whatever they could. CommonBond partners with Firstmark Services as the servicer of the loan. CommonBond also provides great networking and learning opportunities as an added bonus.

CommonBond Student Loan Refinance review
They advertise lower interest rates for those who are "Credit worthy." I work in car financing, so I know how interest rates work. I had applied to refinance my student loans, and they advertise rates from 2.22%-5.05%. I applied and they gave me the highest interest rate available and told me it was because I didn't make the minimum salary requirement. I put on my application that I made 55,000 a year and their live chat rep said that the minimum requirement was 50,000. No where on their site does it even say there are salary requirements. Then I was told it also has to do with what cash I had on hand and they told me to get a cosigner when I have perfect credit. Such a scam. If I could give 0 stars I would.

Ryan H
Salt Lake City, Utah
CommonBond Student Loan Refinance review
Got all the way to the end of the app and they required a co-signer to continue (after requiring my SSN). I have solid credit and payment history. I haven't needed a co-signer for 2 mortgages why would I need one to refi 20k of student loans. Lame!