Expanded Access Helps Even More Graduates Take Control of Their Student Debt
NEW YORK (August 29, 2018) – CommonBond, a leading financial technology company that helps students and graduates pay for higher education, has extended its student loan refinancing eligibility to all major U.S. visa holders who have graduated from a U.S. university. These new eligibility requirements provide an opportunity for up to 2.4 million members of the American workforce to take control of and reduce their student debt.
This announcement reinforces CommonBond’s mission to make best-in-class higher education finance accessible to as many individuals as possible. The following visa types are eligible for CommonBond student loan refinancing: H1-B, J-1, L-1, E-2, and E-3. Applicants must also have graduated from a U.S. nonprofit undergraduate or graduate school.
"At CommonBond, we believe that those who have come to the United States in pursuit of higher education, and joined the American workforce, should have the ability to lower the cost of their education through student loan refinancing,” said David Klein, CommonBond CEO and co-founder. “We are proud to extend our commitment to improving higher education finance and strengthening the American economy by reducing student debt for even more members of the U.S. workforce – regardless of citizenship."
CommonBond student loan refinancing saves members more than $24,000 on average over the life of their loans. With student loan refinancing, CommonBond members can replace their existing student loans with new ones that offer competitive rates, award-winning customer service, and industry-leading borrower protections. The company has refinanced over $2 billion in student loans to date.
Student loan refinancing is one of three ways CommonBond helps students and graduates finance their education; the company also provides loans for current students and its CommonBond for Business™ student loan benefits platform for employers. Additionally, CommonBond is the only financial company with a "one-for-one" Social Promise: for every loan it funds, it funds the education of a child in need. In 2018, Fast Company named CommonBond the World’s Most Innovative Company in Education.
CommonBond is a financial technology company on a mission to give students and graduates more affordable, transparent, and simple ways to pay for higher education. The company offers refinance loans to college graduates, new loans to current students, and a suite of student loan repayment benefits to employees through its CommonBond for Business™ program. By designing a better student loan experience that combines advanced technology with competitive rates and award-winning customer service, CommonBond has funded over $2 billion in loans for its tens of thousands of members. CommonBond is also the first and only finance company with a "one-for-one" social mission: for every loan it funds, CommonBond also funds the education of a child in need, through its partnership with Pencils of Promise. For more information, visit www.commonbond.co.