Five reasons to refinance your student loans with CommonBond.
A CommonBond review wouldn’t be complete without a discussion of how CommonBond is different from the other student loan refinancing companies. The big points that might be of interest to you are: (1) social mission; (2) dedicated lawyer group; (3) Pre-Fi program; and (4) unemployment protection.
Social mission. CommonBond is the only student loan refinancing company that combines student loan refinancing with a social mission. If you refinance your loans with CommonBond, they’ll fund the education of a child in need through a partnership with Pencils of Promise. Pretty cool, huh? Pencils of Promise builds schools, supports teachers and even has a program to teach kids about potable water, sanitation and hygiene. I’m always a fan of programs that are looking at the root causes. Sick child = child unable to go to school to learn.
Dedicated lawyer group. If the social mission doesn’t encourage you to refinance your student loans with CommonBond, the fact that they have a dedicated lawyer group might help. Biglaw Investor has partnered with the team of folks at CommonBond that are specifically interested in helping lawyers refinance their loans. This group understands the bimodal salary distribution, the six-figures of law school debt and what it’s like for a young lawyer who just graduated from law school. They’re ready to work with you to find a creative solution to get the underwriters happy with your application and having direct access to them should make the loan process smoother.
Pre-Fi. As I said above, there’s a bunch of folks at CommonBond that are trying to come up with creative solutions for law students and lawyers specifically. I’ve had a lot of 3Ls write in saying that they can’t wait to refinance their student loans once they graduate and that it’s a bummer they have to pay the high interest rates during law school. That’s when CommonBond decided to roll out the Pre-Fi program, which is a way for 3Ls to refinance their loans while still in school based on the strength of a job offer letter.
Unemployment protection. CommonBond has your back if there comes a time when you’re not able to make regular payments. They give you the option of deferring payments or forbearance. In this case, it means you’ll be able to pause payments for a specified period of time.
- Interest Rates: 2.47%+
- Bonus Cashback: $400
- Loan Types:
- Loan Terms:
- Minimum Credit Score: 660
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