Post-college life

What Loans Can CommonBond Refinance?

CommonBond Staff

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September 30, 2015

We get a lot of questions at CommonBond from graduates who used multiple loans to fund their degrees (most people have!) and want to refinance all or some of those loans into a lower rate.

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We wanted to share the basics about which student loans can be refinanced and consolidated and which cannot using some examples that are pretty common:

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What Loans Can CommonBond Refinance?

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Federal student loans: These include the Direct Stafford Loan, Grad PLUS Loan, and any other loan programs managed by the U.S. government.
Private student loans: This category includes student loans issued by banks, for example.
Previously consolidated student loans
Parent PLUS loans

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What Loans Are CommonBond Unable to Refinance?

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Personal loans: These include loans you take out for additional expenses incurred while in school—for example, to fund a wedding—yet are not certified by your school.
Bar study loans: Loans that you take out to prep for the bar or any other exam do not qualify because your school does not certify these as qualified education expenses.
Loans from family and friends: If your loan for school came from a friend or a relative rather than a student lending company, this loan also counts as a personal loan and therefore cannot be refinanced through CommonBond.
International student loans

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CommonBond intends to conduct its daily operations in an equal and fair manner with customers and Third Parties alike. CommonBond does not discriminate on the basis of an applicant's race, marital status, nationality, gender, age, or religion; an applicant whose income is derived from a public assistance program; or an applicant who, in good faith, exercised rights under the Consumer Credit Protection Act.

DISCLAIMER: Offered terms and rates are subject to change and state law restrictions. Loans are made by CommonBond Lending, LLC (NMLS # 1175900). For student loans, CommonBond is not affiliated with the school you attended or are attending. For solar loans, CommonBond is not an affiliate of the solar installation company through which you purchase or have your solar equipment installed. CommonBond does not offer tax advice; speak with your tax advisor about any tax benefits or information associated with your loans. None of the information contained in CommonBond's website constitutes a recommendation, solicitation or offer by CommonBond or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

If a bonus is offered for student loan refinancing, bonuses are limited to one bonus per borrower, the associated loan must book, and the loan cannot be a refinance of an existing CommonBond loan. Cash bonuses will be credited to your PayPal account or a check will be mailed to the address in your loan application within six (6) weeks of origination of the refinance. Rate discount bonuses will be reflected in the interest rate disclosed in your Final Truth In Lending Act Disclosure and promissory note for your loan.