CommonBond Reviews | Private Student Loans

CommonBond offers undergraduate, graduate, MBA, Dental, and Medical School loans up to 100% of the cost of attendance (determined by the school) for Title IV or non-profit schools (undergraduate, graduate) and to more than 25 MBA schools in its current network. Common Bond may offer below industry APR rates (fixed and variable). The company has three loan terms with no application fees or prepayment penalties. There are 2% origination fees on MBA, medical, and dental school loans. It offers multiple repayment options as well as a forbearance program in case of student hardship. Unlike many student loan companies, CommonBond requires undergraduates to have someone co-sign their loans. Adding a co-signer gives some students a chance to earn a lower interest rate and reduce the lifetime cost of their loans. Undergraduate students who don't have anyone willing to co-sign their loans may find CommonBond's loan qualifications prohibitive.

A cosigner is required on undergraduate loans, with a cosigner release offered after two years of payment. For eligibility, a student must be currently enrolled at least half-time in either the current or the upcoming school year. The student must be a U.S. citizen or be a permanent legal resident.

CommonBond offers a tech-enhanced experience, including an easy, online application process with quick approval turnaround times. It offers direct educational resources enabling consumers to make informed decisions on loan selections. The website has a student loan calculator for each different type of loan. The company offers an auto-payment discount of 0.25%.

CommonBond made Forbes' Fintech List 2018 and has a B+ rating with the Better Business Bureau with no negative reviews. The company does not currently have a presence on Trustpilot.