News Column

CommonBond Introduces New Low Rates And More Student Loan Refinance Options

August 20, 2014



By a News Reporter-Staff News Editor at Education Letter -- CommonBond, a leading student lending platform, announced that it has introduced new variable rate student loans with rates as low as 2.65% APR (with autopay) as well as new fixed rate student loans with rates as low as 3.625% APR (with autopay). This product expansion will provide increased flexibility and customization to eligible borrowers interested in refinancing their federal and private student loans.

"We aim to make student loans simple and human, while putting more money back in our borrowers' pockets," said David Klein, CEO and co-founder of CommonBond. "With our new rates and loan options, we are excited to deliver a better student loan experience that is tailored to the various needs and preferences of many more graduates with student debt."

Graduates who refinance with CommonBond can choose from a variable or fixed rate loan with a 5-, 10-, or 15-year term. Variable rate loans are tied to 1-Month LIBOR and currently range from 2.65% APR to 5.98% APR (with autopay). Fixed rate loans range from 3.625% APR to 7.49% APR (with autopay) and remain locked at their original interest rate for the duration of the loan repayment term. There are no origination fees or prepayment penalties for any refinanced loans through CommonBond.

Keywords for this news article include: Education, Student Loans.

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Source: Education Letter


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