Post-college life

What Loans Can CommonBond Refinance?

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.

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:

What Loans Can CommonBond Refinance?

  • 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

What Loans Are CommonBond Unable to Refinance?

  • 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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