CommonBond Student Loan Refinance Review
ConsumersAdvocate.org Rating: 8.9 / 10 (Excellent)
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.
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
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.
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.
- Variable Rates: 2.35% to 6.27% APR
- Fixed Rates: 3.37%-7.74% APR
Save with auto payments
Yes. Save 0.25% of your student loan rates by signing up for automatic payments.
Momentarily stop student loan payments, terms and conditions apply.
Loan Related Fees
- Origination & application fees
- 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.