CommonBond Student Loans Review

Rating: 9.6 / 10 (Excellent)
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Founded in 2011 and launched just two years later, CommonBond Inc. is a New York-based lending institution that originates and services graduate, undergraduate, and MBA student loans. The company offers competitive rates, user-friendly tools, and helpful online resources to help consumers make sound financial decisions.

CommonBond - Overview

Founded in 2011, New York-based CommonBond offers student loans, student loan refinancing, parent loans, and MBA loans. To date the company has funded over $1 billion in student loans. CommonBond states their mission is to make loans more transparent and affordable; they are not an online aggregator but a lending institution that provides its own student loans. One area where the company really excels is they provide highly competitive rates, coupled with educational resources which enable the consumer to make informed choices. CommonBond offers an application that can take minutes, no penalty fees, and award winning customer service. The company does, however, charge an origination fee. Additionally, CommonBond requires a cosigner in order to process both graduate and undergraduate loans.

Student Loans Offered

CommonBond provides undergraduate and graduate loans, along with student loan refinance, MBA loans, and parent loans. The company allows borrowers to finance 100% of their school's cost of attendance, although they encourage students to maximize scholarships and grants before applying for a loan to make up the difference. When applying, you cannot see rate quotes or loan details without first signing up for an account.


Maximum Loan Amount


Repayment Terms

5, 10, and 15 years

Repayment Options

CommonBond offers a great deal of flexibility when it comes to repayment options. Currently the company has these four options:

  • Deferment: Do not pay at all until after graduation. Interest will accrue and be compounded at the end of the grace period. 
  • Pay $25 monthly while in school: This option at least helps pay a bit of the interest.
  • Interest-only: Make full monthly interest payments.
  • Full monthly payment: Begin paying the loan fully while still in school.

Additionally, the cosigner can be released after 24 months of consecutive, on-time payments, provided the student meets eligibility requirements at the time of release. 

Student Loan Rates

Fixed Rate

Variable Rate

For Undergraduate Loans

Variable Rates: 2.88-8.72% APR
Fixed Rates: 5.50-9.67% APR

For Graduate School Loans

Variable Rates: 2.88-8.72% APR
Fixed Rates: 5.50-9.67% APR


  • Must be undergraduate or graduate student enrolled at least half time.
  • Must be enrolled for the upcoming year at eligible Title IV or non profit school.
  • Must be a US citizen or permanent resident
  • Must meet credit requirements
  • Must have a cosigner

Online Application

College Scholarship Search

Student Loan Calculator

Application Process Time

A few minutes

Rewards and Discounts

CommonBond operates  "CommonBridge" program that will suspend payments if the borrower runs into particularly bad financial difficulties. These deferred payments, however, will interrupt the 24 month period of consecutive payments you need to make in order to release the cosigner. CommonBond also operates its "social promise" program, where they fund a needy child's education for every loan they fund. 

Loan Related Fees

Origination Fee


Loan Application Fee

Prepayment Penalty

Student Loans at CommonBond

Although CommonBond is primarily known for its student loan refinance packages, the company offers solid undergraduate and graduate student loans as well. The forbearance policy in the case of financial hardship is a great feature to know you have in your back pocket if times should get tough. However, many of our other lenders do not charge origination fees; you must be cognizant that this will show up as a reduction of the overall loan amount. Also, CommonBond requires a cosigner. While this can certainly make for more favorable terms, borrowers who simply don't have access to a cosigner with sufficient credit will have to look elsewhere.


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Top Rated
9.6 / 10
  • Multiple In-School Repayment Options
  • Online Account Provided
  • Undergraduate and Graduate Student Loans Offered
  • Check Application Status Online
  • Loan E-signing
  • Free Scholarship Registration
  • BBB A+ Rating