CommonBond Review

Socially-minded student debt refinancing

CommonBond was founded in 2012 by University of Pennsylvania's Wharton School MBA graduates David Klein, Michael Taormina, and Jessup Shean. Due to the founders’ commitment to their customers, CommonBond grew to a national brand in just one year and has already helped refinance over $500 million in student loans. CommonBond has noteworthy investors such as Tribeca Venture Partners (TVP), The Social+Capital Partnership, as well as Vikram Pandit (former CEO of Citigroup), Tom Kalaris (former Vice Chairman of Barclays), and Thomas Glocer (former CEO of Thomson Reuters).

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CommonBond is a student debt refinancing lender that is committed in investing in people as the future of society. Student debt refinancing saves customers an average of $14,581 from their total debt payment. Additionally, for every loan CommonBond originates, they will fund the education of a child in need. CommonBond offers customers some of the lowest rates in the industry. If that was not enough to show how much they care about their customers, they will pause payments and help customers look for a job if they become unemployed. CommonBond is a great company for any graduate facing a mountain of student debt.

Best for student debt borrowers who want the option for hybrid variable or fixed interest rates

CommonBond Highlights

  • Offers customers three different interest rate options

Borrowers can choose between fixed interest rates, variable interest rates, or a hybrid rate that is a 10-year loan with 5 years of a fixed rates followed by 5 years of variable rates.

  • Provides extensive education services

Customers of CommonBond receive access to a borrowing guide specifically suited for student debt refinancing, a blog with personal finance articles, an in-depth FAQ and access to in-person educational events.

  • Offers employment support services

If a customer loses their job, CommonBond will pause payments and help their client find a new job.

Pros Vs. Cons

  • Maximum refinancing available is $500,000
  • Repayment terms can be as long as 20 years
  • No origination fee or pre-payment penalties
  • Provides education funding for a child in need with each loan originated
  • Rates starting as low as 2.79% APR
  • Shortest repayment time frame is 5 years
  • Events only available in NYC



Information and Support

CommonBond customers receive access to several extensive education resources. CommonBond will email customers a borrowing guide specifically suited for student debt refinancing and tailored to their customer’s education level. The blog hosted on CommonBond’s site is updated several times each week with insightful borrowing and personal finance-based articles. Additionally, the website provides an in-depth FAQ section that goes through the entire borrowing process, and has a page specifically suited to students, graduates, and parents. Lastly, CommonBond customers are able to intend in-person educational events held in their New York City office.

For clients or prospective borrowers who have questions or inquiries, CommonBond’s customer support team is available during business hours seven days a week by phone and email.

Types of Debt Addressed

CommonBond loans will help customers refinance both secured and unsecured debt obligations. These loans include federal, private, and previously consolidated student loans in an amount up to $500,000.

Flexibility of Repayment Plan

CommonBond offers one of the most flexible repayment plan options in the industry. Customers have the ability to choose from fixed or variable interest rates. Fixed rates are between 3.35% - 6.74% while variable rates range between 2.79% - 6.72%. For customers who want even more flexibility, CommonBond offers a 10-year hybrid rate loan where the first 5 years have a fixed interest rate and the last 5 years have a variable rate.

Expected Repayment/ Settlement Time Frame

Borrowers of CommonBond’s student debt refinancing loan can have some of the longest loan terms in the industry. Customers are able to receive funding with repayment terms of 5, 7, 10, 15, or 20 year terms.

Ease of Quote Application Process

Receiving a quote from CommonBond will take approximately 10-15 minutes. Potential borrowers are prompted for personal information, education information, and employment information across several intuitive pages.


CommonBond is a company that concentrates on creating a better future. They achieve this by providing low rate student debt refinancing to save customers over $14,000 on average. They also have a social mission to fund a needy child’s education with each loan they originate. CommonBond offers some of the lowest rates in the business, the longest loan terms, and the highest maximum funding amount.

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