For any questions related to your student loan or obtaining a new student loan, please reach out to Firstmark Services (844-318-0166). You can also log into your Firstmark account here.
If you have questions about your Solar loan, please reach out to our servicing partner, Scratch. You can log into your account at https://www.scratch.fi or you can call Scratch directly at 844-727-2684.
At CommonBond, we believe that borrowers with great credit deserve a better rate. Our investors agree, and together, we provide lower rates – and a better loan – than traditional lending institutions.
Your individual rate depends on your credit profile, your choice of a variable or fixed rate, and the term (length) of the loan. So how do you choose? To start,
it's important to know a few key facts:
The following table displays the estimated monthly payment, total interest, and Annual Percentage Rates (APR) for a $10,000 loan. Rates include a 0.25% autopay (ACH) discount.
5 Years
7 Years
10 Years
15 Years
20 Years
5 Years
7 Years
10 Years
15 Years
20 Years
The CommonBond Hybrid Loan option balances the many competing tradeoffs of choosing a particular repayment term, helping to minimize: 1) interest rate, 2) size of required monthly payment, and 3) total interest paid.
The Hybrid also helps reduce the uncertainty of a variable rate loan by fixing the interest rate for the first five years of repayment, and then switching to a variable rate for the remainder of the loan period. For borrowers who tend to prepay, this period of interest rate uncertainty can be relatively short, allowing Hybrid borrowers to benefit from a fixed rate lower than our normal 10-year fixed rate loan.
10 Years
