Student Loan Benefits

Student Loan Benefits  


Student loan refinancing allows you to trade in your old, confusing loans for a new one that’s easier to manage and easier on your wallet. Here’s how it works:

  • Simplify your old loans and save money to reach your financial goals faster. By lowering your interest rate you can save money each month, long-term or both.
  • Breathe a little easier. CommonBond offers up to 24 months of forbearance, just in case you need to put payments on pause. Plus, they never charge origination fees or penalize you for paying early.
  • Get help when you need it. CommonBond’s award-winning Care Team can be reached by phone, email or live chat
  • Give back together. When you refinance, CommonBond helps fund a child’s education in the developing world through our partnership with Pencils of Promise.


It only takes two minutes to see if you qualify for a lower rate – why not get started today? Plus, you will receive a $200 cash bonus once you refinance.

Get Started!

Curious about what student loan benefits are available to you and what they mean? Find out more by clicking below. 


Click on SIGN UP to complete the evaluation. 

Tell Me More

Do you currently have student loans? The Evaluation Tool will provide actionable guidance based on your specific goals for managing your debt. Through a few simple questions and inputting your loan information, the tool is able to assess all options available to you based on your specific financial situation in just minutes. It will then pinpoint the option that fits you best and help you take the next steps to apply or enroll.

Need to save for future education costs? The Evaluation Tool will also educate you on how to save for the future education for yourself or a loved one. The Tool will walk you through the real cost of college, what a 529 savings plan is, how it works, and how to get started.

Want to share with a friend or family member? In the tool you have the ability to send invitations to friends and family members so that they can take advantage of it as well! 

Contact Us

How It Works


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.

Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.
Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.