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.

• 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.

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.

You can enroll anytime! You can refinance whenever is convenient for you and receive the $200 cash bonus year round.

Nothing! There are no costs to refinance. That includes no origination fees, no application fees, and no prepayment penalties.

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

• 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 

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.

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.

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.

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.