Cheap Loans with bad credit


CommonBond Grad Student Loan Refinance Loan ReviewCommonBond was founded by three Wharton MBAs who felt the sting of student loans after they graduated. The founders decided to provide a better solution for graduates, as they thought the student loan system was broken and in need of reform. As a result, they strive to make the refinance (and borrowing) process as simple and straightforward for graduates as possible.

CommonBond* began by servicing students from just one school, and has rapidly expanded. Today, CommonBond loans are available to graduates of over 2, 000 schools nationwide. Although the business started servicing only students with graduate degrees, today CommonBond is also available to refinance undergraduate degrees as well.

As you might be able to tell by the name, CommonBond thinks of its community as family. There is a network of alumni and professionals within the community that want to help borrowers. This alone sets it apart from other lenders, as members often meet for events.

While these are all great things, we know you’re more interested in how CommonBond might be able to help you make your student loans more affordable. Let’s take a look at what terms and rates they offer, eligibility requirements, and how they compare against other lenders.

Refinance Terms Offered

CommonBond offers low variable and fixed rate loans. Variable rates range from 2.13% – 5.68% APR, and fixed rates range from 3.25% – 7.49% APR.

Note that these rates take a 0.25% auto pay discount into consideration.

LendkeyThere is no maximum loan amount. CommonBond will lend what you can afford to repay. CommonBond offers fixed and variable rates with terms of 5, 10, 15, and 20 years.

The hybrid loan is only offered on a 10 year term – the first 5 years will have a fixed rate, and the 5 years after that will have a variable rate.

To pull an example from that, if you borrow , 000 at a fixed 4.74% APR on a 10 year term, your monthly payment will be 4.80. The total amount you will pay over the 10 year period will be , 575.90.

The Pros and Cons

CommonBond is available to graduates of 2, 000 universities. While that is a very long list, not all colleges and universities are included.

One pro to consider is the hybrid loan option available. It might seem a little confusing at first – why would someone want a variable rate down the road?

If you’re confident you’ll be able to make extra payments on your loan and pay it off before the 5 years are up, you might be better off going with the hybrid option (if you can get a better interest rate on it).

This is because you’ll end up paying less over the life of the loan with a lower interest rate. If you were offered a 10 year loan with a fixed rate of 6.49% APR, and a hybrid loan with a beginning rate of 5.64%, the hybrid option would be the better deal if you’re intent on paying it off quickly.

What You Need to Qualify

CommonBond doesn’t list many eligibility requirements on its website, aside from the following:

  • You must be a U.S. citizen or permanent resident
  • You must have graduated

CommonBond doesn’t specify a minimum credit score needed, but based on the requirements of other lenders, we recommend having a score of 660+, though you should be aiming for 700+. The good news is CommonBond lets you apply with a cosigner in case your credit isn’t good enough.

Documents and Information Needed to Apply

CommonBond’s application process is very simple – it says it takes as little as 2 minutes to complete. Initially, you’ll be asked for basic information such as your name, address, and school.

Once you complete this part, CommonBond will perform a soft credit pull to estimate your rates and terms.

If you want to move forward with the rates and terms offered, you’ll be required to submit documentation and a hard credit inquiry will be conducted. CommonBond lists the following as required:

  • Pay stubs or tax returns (proof of employment)
  • Diploma or transcript (proof of graduation)
  • Student loan bank statement
  • ID, utility bills, lease agreement (proof of residency)

CommonBond also notes it can take up to 5 business days to verify documents submitted, so the loan doesn’t happen instantaneously.

Once your documents are approved, you electronically sign for the loan, and CommonBond will begin the process of paying off your previous lenders. It notes this can take up to two weeks from the time the loan is accepted.

Who Benefits the Most from Refinancing Student Loans with CommonBond?

Borrowers who are looking to refinance a large amount of student loan debt will benefit the most from refinancing with them.

Interesting facts

  • Automated cash handling is the process of dispensing, counting and tracking cash in a bank, retail, check cashing, payday loan / advance, casino or other business environment through specially designed hardware and software for the purposes of loss prevention, theft deterrence and reducing management time for oversight of cash drawer (till...

Additional information


Auto Loan Refinancing. Refinance Car Loans with Bad Credit
Auto Loan Refinancing. Refinance Car Loans with Bad Credit ...
How I Got a Car Loan with Bad Credit
How I Got a Car Loan with Bad Credit
How Bad Credit Car Loans Help People with "Bad Credit
How Bad Credit Car Loans Help People with "Bad Credit ...
TJie Art TJie Art Hand Painted Mordern Oil Paintings Wall Decor Lily Flower Clouds Home Landscape Oil Paintings Splice 3-piece/set on Canvas
Home (TJie Art)
  • Size:50x70CMx1,20x50CMx2
  • A perfect wall decoration for living room and bed room. Paintings reproduction,Canvas print,stretched with wooden frame on the back. Ready to hang.
  • painted by professional artists with years of oil painting experiences. Hand-painted high quality canvas oil painting. A nice gift for your relatives and friends...
  • Each piece is custom made.
  • Materials/Milieu:high quality Thick Canvas, high quality oil or Acrylic colors.
Bad Credit Mortgages - How to Get Home Loans With Bad Credit
Bad Credit Mortgages - How to Get Home Loans With Bad Credit
Bad Credit Auto Loans - Watch How I Got A Car Loan With
Bad Credit Auto Loans - Watch How I Got A Car Loan With ...
CAR LOANS WITH BAD CREDIT - How To Get A Car Loan With Bad
CAR LOANS WITH BAD CREDIT - How To Get A Car Loan With Bad ...