Student loans are for fulfilling your dreams, not emptying your bank account. We're lowering the cost of school and simplifying the process in the meantime-no more stressful applications or being treated like an account number. Every time we fund a loan, we cover the cost of a child's education through our Social Promise.
Our partnership with Pencils of Promise has provided schools, teachers, and technology to thousands of students in the developing world. Whether you're starting college or graduating with student debt, we're the only company that has you covered for your entire student loan journey. Learn how your company can help its employees take control of student debt with CommonBond For Business.
Our partnership with Pencils of Promise has provided schools, teachers, and technology to thousands of students in the developing world. Whether you're starting college or graduating with student debt, we're the only company that has you covered for your entire student loan journey. Learn how your company can help its employees take control of student debt with CommonBond For Business.
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While taking out loans for business school, our co-founder David found himself asking a lot of questions: Why is the process so confusing? Why is the customer service so bad? Why are the interest rates so high? Isn't there a better way for people to borrow for school? He wasn't alone-in the U.S., students are now struggling to pay down over $1.5 trillion in debt.
We believe student loans should let you do more, not less. So we're here to help with an easy-to-use application, free financial guidance, and competitive rates. CommonBond loans come with a free Money Mentor - a real person who can help you get more money for school, manage your budget, and find internship opportunities.
Take comfort in our award-winning care, best-in-class borrower protections, and 1-for-1 promise that helps young students in the developing world. We're here to make this process easy so you can spend more time focusing on school and less time worrying how to pay for it. It only takes a few minutes to apply online.
A fixed CommonBond MBA Loan with an APR of 6.20%, which is based on the median rate 6.16% and an origination fee of 2%*. A fixed Grad PLUS Loan with an APR of 7.42%, which is based on the 2019-2020 federal Grad PLUS interest rate of 7.08% and an origination fee of 4.236%. Savings is calculated as the difference between a borrower's estimated future payments in federal loans and their future expected payments with CommonBond.
A fixed CommonBond Dental Loan with an APR of 6.08%, which is based on the mean rate 6.32% and an origination fee of 2%*. A fixed Grad PLUS Loan with an APR of 7.01%, which is based on the 2019-2020 federal Grad PLUS interest rate of 7.08% and an origination fee of 4.236%. Savings is calculated as the difference between a borrower's estimated future payments in federal loans and their future expected payments with CommonBond.
Reviews (18)
Rachel M.
Jan 29, 2022
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I completely regret having refinanced my private student loans with CommonBond. I contacted them at the beginning of November this year about putting my student loans into forbearance due to job loss. Never mind the simple process of just putting a student loan into forbearance is more complicated compared to my last student loan servicer. Over 2 months went by before it was approved by CommonBond, when they claimed it would be a much shorter time period. They assured me not to worry and that it would not show up on my credit report as delinquent, as it would backdate to the original process date
Gabrielle Michel
Oct 13, 2021
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Customer service is non-existent past a 5 minute phone call. I was promised numerous follow-ups either through email or phone call that were never followed through on. When I followed up myself, I had re-explain my situation to a new person every time. The only people you can speak to are customer service representatives and they have no ability to communicate with other departments, so if you find yourself in any situation that's even remotely nuanced you're out of luck. This company's internal processes have so many layers of bureaucracy that even basic accommodations or empathy are impossible
Bob L.
Oct 06, 2021
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It comes down to their lightning fast, HUMAN, customer service team. Every email of mine received a reeply within the hour.
Plus, when you refinance, they still allow for upp to 24 months of forebearance if needed--and hope it is not needed.
They also use a % of their profits to fund scholarships for students from disadvantaged backgrounds.
Plus, when you refinance, they still allow for upp to 24 months of forebearance if needed--and hope it is not needed.
They also use a % of their profits to fund scholarships for students from disadvantaged backgrounds.
Armando Jauregui
Sep 17, 2021
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I had asked the representative on the phone what it would take to change my payment date for my student loans. She told me that the only way to change it would be to put my loan in forbearance and then change the date. I told her explicitly NOT to do anything with the account and she went and put in a request for forbearance which got approved. I didn’t know about this but by the time I did it was too late to change anything without getting a late payment. That interest capitalized and now my monthly minimum is higher. This institution’s phone reps are terrible.
Dylan Wells
Aug 05, 2021
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They overpaid on one of my old student loans and I have been asking them to correct the issue for months. I have called in three times and sent several emails. Meanwhile, they are continuing to charge interest on the inflated loan. They told me this would be corrected the last time I called, but that same representative has now been ignoring my emails for two weeks.
Insi
Jun 14, 2021
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Claims to have 'simple, smart' student loans, but beware because CommonBond is just as bad as any other loan company you could use. I dont even know where to start.
First off: Their website is constantly down. They claim to have great devteam and technology but they can't even keep a simple site up to apply for loans. I had to constantly email very sensitive documentation through plain-text email for them to read on the other end, because their site was down or just straight up was not working.
If you're a contractor, self-employed, or pretty much anyone that doesn't have a 'traditional job'
First off: Their website is constantly down. They claim to have great devteam and technology but they can't even keep a simple site up to apply for loans. I had to constantly email very sensitive documentation through plain-text email for them to read on the other end, because their site was down or just straight up was not working.
If you're a contractor, self-employed, or pretty much anyone that doesn't have a 'traditional job'
Nick G.
Apr 18, 2021
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This company raised my prechecked rate by three points AFTER a hard inquiry. I have practically 800 Fico. They also tried to make me refinance my consolidated federal loan into their product even though I only applied for my private loans. They can get lost. Why refi with such a dishonest company. I will take another hard inquiry and look elsewhere. I plan on a appeal to the credit bureaus regarding the dishonesty of this company.
Hui-Kee Wong
Nov 12, 2020
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Greta P.
Sep 18, 2019
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So I have tried applying with Common Bond more than once, for a refinanced loan anywhere between 35,000-80,000, give or take. I make very good money, even after taxes, yet they still ask for a cosigner before I can even apply, stating that my expenses are too high per month - absurd! I have good credit and will absolutely not burden anyone else with my loans because I do not need to. If they did not ask for a co-signer, they would have by business. But they are too rigid to make co-signers optional, so I now have refinanced with another company.
Lawrence King
Sep 10, 2019
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David A.
Sep 08, 2019
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Absolutely terrible experience with common bond. I gave them so many tries. After read the reviews below I now know why people wrote the reviews and I am thankful for them. I had that was almost 50x the amount of my monthly payments. And they didn't quote me the best rate. I believe it's because they have the current loan open that I am refinancing so they want to collect the higher rate. But I could be wrong. Either way. I am moving on and just going to pay it off or re-finance away.
Thanks everyone for reviewing and I strongly recommend you stay away.
Also I routinely emailed
Thanks everyone for reviewing and I strongly recommend you stay away.
Also I routinely emailed
Chris Titmas
Aug 03, 2019
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Adam G.
Jan 26, 2019
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Theresa Gilligan
Jan 22, 2019
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Commonbond was SO helpful with refinancing my student loans! My interest rate went down significantly--I'm actually making progress on paying them off now!! Everyone was super responsive and made it a very pleasant process (and I never thought refinancing student loan would be pleasant). I can't recommend them enough!!
Jenna D.
Oct 15, 2018
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The most unprofessional, unreliable and appalling "professional" company I have ever worked with. Wish I saw these other reviews before taking the plunge with this joke of a company. Similar to John A's review below, I consolidated and refinanced 2 previous loans with CommonBond. Received a phone call from my one previous lender advising that my loan was 80 days past due.. after some confusion and digging, discovered that CommonBond applied their payoff amount to THEIR OWN LOAN instead of my previous loan that they were supposed to payoff. I have been dealing with this disaster
John A.
Apr 12, 2018
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We refinanced our daughters student loans with CommonBond to reduce our interest rate. Everything seemed fine until we found out months later CommonBond didn't pay off her two loans, and they had outstanding balances and collected significant additional interest. Expecting CommonBond to pay off your loans might be a good expectation, but it didn't happen. After calling their customer service department, and e-mailing the supervisor they basically told us too bad, but have a nice day.
Simmy S.
Jun 01, 2017
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I applied for a loan with commonbond back in February for which I was approved for. I never heard back from a representative until the very last day of the grace period before the application expired. I did not receive a phone call, rather I received a text message from Melissa who asked if I was still interested in re-financing my loan to which I awkwardly applied yes. She asked me to send over some documentation from my current loan provider so that they could "beat" that interest rate. I sent over the documentation, only to be told by another representative that my application had
Jenn W.
Sep 29, 2016
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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
