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CommonBond Review: Student Loans and Refinancing

CommonBond offers student loans and refinancing with flexible terms and options for forbearance. Borrowers have access to a well-reviewed care team, and CommonBond loans also have a social impact — with every loan borrowed or refinanced, CommonBond pays for a child’s education in the developing world.

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3.8
Min. Credit ScoreMin. Credit Score 660+
Loan AmountsLoan Amounts $2K-$500K
Fixed APRLoan Repayment 5-15 years
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Lindsay Frankel
Written by:Lindsay Frankel
Personal Finance Expert

CommonBond offers undergraduate, graduate, MBA, dental, and medical student loans along with student loan refinancing. The lender also offers student loan employee benefits to businesses. CommonBond is a great fit for creditworthy borrowers looking to refinance at a low rate while making an impact or borrowers who want the option of removing a cosigner. Learn more about all that CommonBond has to offer in our CommonBond review.

Summarized Rating

Loan Features4.7
Interest Rates and Fees3.8
Qualification Leniency3.5
Application Process2
Customer Support5
User Reviews

This parameter considers loan term lengths, loan limits, and loan structure optionality (fixed and variable rate offerings). For each loan type offered, each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.

CommonBond gets a stellar 4.7 for Loan Features, which is attributable to its highly flexible term lengths, loan amounts, and loan structure optionality (fixed vs. variable).

CommonBond Pros
Low APRs for refinancing
No origination fees or prepayment penalties
Choice of term and repayment plan
Options for forbearance
Cosigner release after two to three years
Every loan makes a social impact
U.S. based care team
CommonBond Cons
Higher APRs on student loans than competitors
Cosigner required for student loans
Not available in some states
Charges a late payment fee
Student loans for in-network schools only
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At the end of the page, you’ll enter your social security number. Checking your rate in this step will only result in a soft credit pull, which won’t impact your credit score. If you decide to formally apply, CommonBond will run a hard credit check, which will cause a temporary dip in your credit score.

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