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I f you’re looking for an educatonal loan source for either refinancing otherwise university attendance, giving some of the lowest interest levels available, bring a closer look within CommonBond.
CommonBond try an immediate lender specifically made to include large investment words at a few of the reasonable rates on the market.
Short Summation
- Some of the reduced re-finance costs available.
- No application otherwise origination costs of many loans.
- Cosigner discharge immediately following 2 years.
- Advice program to earn $two hundred for each and every referral.
About CommonBond
CommonBond try established in 2011, and that’s situated in New york. The mission would be to promote reasonable educational products that have best-in-category solution.
They provide both student loan refinances and also in-college loansmonBond was a direct financial, and never an intermediary or an on-line student loan industries.
CommonBond also has an emphasis on social responsibility. Adhering to what they refer to as their “Social Promise”, the company believes that business is and must feel a positive force to own alter.
Owing to the partnership that have Pencils out-of Guarantee it funds the newest tuition off a student in need of assistance – situated in a developing country – to own a full season, for each and every education completely financed within the us. That implies whenever you are capital your degree compliment of CommonBond, you’re plus contributing to the education from an underprivileged boy.
Minimal and you will limit financing wide variety: The minimum is $2,000, subject to state law. The maximum loan amount is the amount you owe on your current student loans – or 100% of your school’s cost of attendance – up to $500,000.
Loan terms and conditions: Most loan programs are available in terms of 5, 10 and 15 years, and some go up to 20. They’re available in both fixed and variable rates.
Loans entitled to refinance: Both federal and private student loans, as well as previously consolidated loans. Includes undergraduate, graduate, MBA, dental and medical loans. Provides both student loan refinancing and private student loans for current students.
Cosigner enabled: Yes. Cosigner must be fully qualified based on income and credit, and must similarly be either a US citizen or permanent resident.
Cosigner discharge: Cosigners can be released after two years of consecutive, on time payments. Consecutive payments are interrupted if you enter forbearance. You must apply to have your cosigner release from the loan, as it isn’t automatic.
Elegance months: You’ll have a grace period of six months after you graduate before you must begin making payments. However, interest will accrue during the grace period, and will be added to your loan balance.
- Put-off and make money up until graduation, in which case appeal have a tendency to accrue and start to become placed into their mortgage equilibrium.
- Generate repaired monthly obligations of $25, having any delinquent appeal accrued and you will added to the loan harmony.
- Interest-only payments, in which you at the least make appeal payments to end boosting your mortgage balance.
- Full monthly payments to begin settling your own principal harmony if you are you’re nonetheless at school.
CommonBond defense: The company uses physical, administrative, and technical safeguards to protect your information. They’re also compliant with the California Consumer Privacy Act of 2018.
Support service: Available by phone or email, Monday through Friday, from 9:00 am to 8:00 pm, Eastern timemonBond has “Money Mentors”, who are live experts available to provide answers to your student loan financing questions. They can help you with topics such as how to create a budget, submitting the FAFSA application, finding internships, building credit, and even mapping majors to career pathways. Undergraduate borrowers are automatically enrolled in the Money Mentor program.
