CommonBond Student Loan Refinance Review

Rating: 8.8 / 10 (Excellent)
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CommonBond is an online lender that offers student loan refinancing, as well as new private student loans, for student and parent borrowers with a convenient online application process. Refinancing loans are available with affordable fixed, variable, and hybrid interest rates. For every loan funded, CommonBond funds the education of a child in a developing country.

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.


Variable Rates

Overall Variable Rate Range - 2.76% - 7.03%

Loan Type

Min Rate

Max Rate

5 year variable loan



7 year variable loan



10 year variable loan



15 year variable loan



20 year variable loan




Fixed Rates

Overall Fixed Rate Range - 3.18% - 7.25%

Loan Type

Min rate

Max rate

5 year fixed loan



7 year fixed loan



10 year fixed loan



15 year fixed loan



20 year fixed loan




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.




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Customer Comments & Reviews

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Ruchi P
Milford, Connecticut
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... Read More

, South Carolina
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... Read More

Ryan H
West Jordan, Utah
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!

Our Partner
8.8 / 10
  • Get a pre-approval quote in less than 5 minutes
  • No application fees, origination fees, or prepayment penalties
  • Refinance up to $500,000 in federal and private student loans
  • Economic forbearance and unemployment protections
  • Fixed, variable, and hybrid interest rates