Student Loan Refinancing

Student Loan Refinancing  


Seventy percent of college grads currently hold diplomas that came with confusing, expensive loans that will take decades to pay off. That’s why your employer has partnered with CommonBond, a leading student lender, to bring you student loan benefits.


Through refinancing, CommonBond takes costly student loans and replaces them with a smarter, single loan at a lower interest rate. This allows members to save money each month or pay off their student debt faster. Aside from great savings, CommonBond is known for its award-winning customer service and quick and easy application process.


Here’s what you get when you choose to refinance your student loans with CommonBond:

  • You, your family members and friends receive a $200 cash bonus when refinancing.1
  • CommonBond offers leading protections including 24 months of forbearance and up to 6 months of payment postponement.
  • There are no origination fees, no application fees and no prepayment penalties.
  • For every loan CommonBond funds, they also fund the education of a child in the developing world.
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How It Works

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524 Broadway, 6th Fl.
New York, NY 10012
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Answers about the plan, including eligibility, options, enrollment, customer service and more.

  • Who is the provider?

    CommonBond was named a TIME 2018 Genius Company for offering smarter student loans and for their “commitment to social equality”. They were ranked #1 Most Innovative Company in Education by Fast Company for turning student debt relief into a corporate benefit.

    CommonBond founders felt firsthand the personal pain of the student loan process when they were in school: high interest rate loans, poor service, and a confusing process. They founded CommonBond to change all of that—to bring to market a product and a service they wished had existed when they were in school.

  • How can this help me?

    • CommonBond members who refinance their student loans can save thousands over the life of their loan.
    • Borrower protections similar to those offered by federal loans: you can defer payments if you lose your job or decide to go back to school, and your loan would be forgiven in the case of death or permanent disability.
    • No origination fees, and no prepayment penalties. Ever.
    • You can add a co-signer to your loan, in the event that you don’t qualify on your own.
  • Who is eligible?

    You, your family members and friends are eligible to apply for refinancing. In order to qualify, you need to be a U.S. citizen or permanent resident who graduated from a selection of more than 2,000 Title IV accredited universities or graduate programs.

  • When can I enroll?

    Anytime! You can refinance whenever is convenient for you and receive the $200 cash bonus year round.

  • How much will this coverage cost?

    Nothing! There are no costs to refinance. That includes no origination fees, no application fees, and no prepayment penalties.

  • If I leave my employer, will I be able to keep my coverage?

    Yes. When you refinance, the relationship is between you and CommonBond, so your loan will not be affected if you leave your employer.

  • What is student loan refinancing?

    • Refinancing means taking out a new loan to replace an existing loan
    • Lenders pay off existing loans, and create a new loan at a lower interest rate
    • You can refinance federal, private, Parent Plus and previously consolidated student loans 
  • What is the difference between student loan refinance vs consolidation?

    We're glad you asked! Check out our page on the differences between the two at

  • How do you calculate my interest rate?

    The interest rate for a refinance loan depends on your credit profile, your choice of variable rate or fixed rate, and the length of repayment for the loan.

  • How can CommonBond offer lower rates than other loan providers? Is there a catch?

    CommonBond believes that creditworthy borrowers deserve lower rates than traditional institutions have provided in recent years. They are therefore able to provide funds to these creditworthy borrowers at more affordable terms. It's really a win-win.

  • How do CommonBond loans differ from federal loans and do you offer the same protections?

    The federal government offers income-based repayment and special forgiveness programs for borrowers in public service professions. Graduates with federal loans working in such industries may therefore prefer to keep their federal loans to maintain these extra borrower protections. Similar to federal student loans, under certain circumstances, including for economic hardship, you may be eligible for loan forbearance. In this case, you may temporarily postpone making monthly loan payments for a specific period of time.

1$200 to be credited to your PayPal account or check to be mailed to the postal address in your loan application within 6 weeks of loan funding. Lending decisions are not impacted in any way by participation in this offer. Offer is non-transferable. No substitutions. Limit one offer per loan.

Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.