CommonBond

CommonBond is a private student loan and refinancing company that has historically focused on graduate and professional school students. Its product lineup has included loans for MBA programs, law school, and other graduate degrees, as well as student loan refinancing for graduates.

Before considering CommonBond or any private student loan, you should complete the FAFSA and review all federal student loan options. Federal loans from the US Department of Education offer income-driven repayment, deferment, forbearance, and potential loan forgiveness that private loans do not provide.

For graduate students, private loans may fill gaps when federal loan limits do not cover the full cost of attendance. CommonBond has been known for catering specifically to graduate borrowers, and its eligibility criteria and loan amounts are often calibrated for the higher costs associated with professional school programs.

Rates are typically available in fixed and variable formats. Fixed rates do not change over the life of the loan. Variable rates may start lower but can rise based on market indexes. The rate you receive depends on your creditworthiness.

CommonBond also offers student loan refinancing, which allows graduates to consolidate existing student loans into a new private loan, potentially at a lower interest rate. However, if you are considering refinancing federal loans, be aware that this permanently eliminates access to federal income-driven repayment plans, Public Service Loan Forgiveness, and other federal protections. This decision cannot be undone, so it should be considered carefully based on your career plans and financial situation.

Before applying, compare CommonBond's annual percentage rate, total repayment cost, repayment term options, and any fees against other lenders. Verifying current product availability directly with CommonBond is advisable, as product lineups can change over time.