Student Loan Benefits

Student Loan Benefits  


Henkel has partnered with CommonBond to offer you additional monthly contributions towards your student loan payments and free, personalized debt guidance. Student loans are for fulfilling your dreams, not emptying your bank account. Whether you're starting college or graduating with student debt, simplify your student loans and save money to reach your financial goals faster. CommonBond has the ability and expertise to help you with your education finance journey.

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Whether you are looking to refinance existing student loans or to pay for school, student loan benefits will help pay off your student debt more quickly:

  • Enjoy a monthly student loan contribution! Henkel will contribute $83 per month directly to student debt. To qualify, you must be a non-union employee working 20 hours or more per week and the student debt must be in your name and taken out for your education. These payments will be in addition to your existing student loan payments, helping you get out of student debt faster, saving you money and amount of time in debt.
  • Student loan refinancing is your chance to refresh and reset. Refinancing means taking out a new loan – at a lower interest rate – to replace your old loans. This can help you lower your monthly payment, save money long term, or both. If you have a strong credit profile, you’re a great candidate. Plus, you'll receive a $200 cash bonus when you refinance.* CommonBond also offers affordable student loans to help cover the cost of college education for you or your family.
  • The evaluation tool provides a personalized recommendation in minutes, outlining the best ways to save on your private and federal loans. If you're not sure about the right student loan repayment strategy, this tool will help you sort through all your choices quickly, so you can pick the best one for you. You can also invite up to three family members to use the tool.
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Answers about the plan, including eligibility, options, enrollment, customer service and more.
  • Who is the provider?

    CommonBond was named a TIME 2018 Genius Company for offering smarter student loans and for their “commitment to social equality”. They were ranked #1 Most Innovative Company in Education by Fast Company for turning student debt relief into a corporate benefit.


    CommonBond founders felt firsthand the personal pain of the student loan process when they were in school: high interest rate loans, poor service, and a confusing process. They founded CommonBond to change all of that—to bring to market a product and a service they wished had existed when they were in school.

  • How can this help me?

    • CommonBond members who refinance their student loans can save thousands over the life of their loan.
    • Borrower protections similar to those offered by federal loans: you can defer payments if you lose your job or decide to go back to school, and your loan would be forgiven in the case of death or permanent disability.
    • No origination fees, and no prepayment penalties. Ever.
    • You can add a co-signer to your loan, in the event that you don’t qualify on your own.
  • Who is eligible?

    You must work at least 20 hours per week to qualify for any CommonBond service.


    If you took out student debt for your own education costs, then you may be eligible to receive contributions from Henkel directly to your student debt.

    If you're interested in student loan refinancing, you, your family members and friends are all eligible to apply. In order to qualify, you need to be a U.S. citizen or permanent resident who graduated from a selection of more than 2,000 Title IV accredited universities or graduate programs.

    Finally, you and up to three family members can take advantage of the student loan evaluation tool to help you sort through student loan repayment strategies and pick the best one for you.

  • When can I enroll?

    You can enroll anytime! You can refinance whenever is convenient for you and receive the $200 cash bonus year round.
  • How much will this coverage cost?

    Nothing! There are no costs to refinance. That includes no origination fees, no application fees, and no prepayment penalties.
  • If I leave my employer, will I be able to keep my coverage?

    Yes. When you refinance, the relationship is between you and CommonBond, so your loan will not be affected if you leave your employer.
  • What is student loan refinancing?

    • Refinancing means taking out a new loan to replace an existing loan
    • Lenders pay off existing loans, and create a new loan at a lower interest rate
    • You can refinance federal, private, Parent Plus and previously consolidated student loans 
  • What is the difference between student loan refinance vs. consolidation?

    We're glad you asked! Refinancing allows you to combine your student loans and lower your interest rates simultaneously, while consolidation combines your student loans and takes the average of your interest rates and rounds them up to the nearest 1/8th percent to give you your new rate.
  • How do you calculate my interest rate?

    The interest rate for a refinance loan depends on your credit profile, your choice of variable rate or fixed rate, and the length of repayment for the loan.
  • How can CommonBond offer lower rates than other loan providers? Is there a catch?

    CommonBond believes that creditworthy borrowers deserve lower rates than traditional institutions have provided in recent years. They are therefore able to provide funds to these creditworthy borrowers at more affordable terms. It's really a win-win.
  • How do CommonBond loans differ from federal loans and do you offer the same protections?

    The federal government offers income-based repayment and special forgiveness programs for borrowers in public service professions. Graduates with federal loans working in such industries may therefore prefer to keep their federal loans to maintain these extra borrower protections. Similar to federal student loans, under certain circumstances, including for economic hardship, you may be eligible for loan forbearance. In this case, you may temporarily postpone making monthly loan payments for a specific period of time.


*$200 to be credited to your PayPal account within 6 weeks of loan funding. Lending decisions are not impacted in any way by participation in this offer. Offer is nontransferable. No substitutions. Limit one offer per loan.

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