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CommonBond Student Loans vs SoFi Student Loans

CommonBond is a community-focused lender with unique hybrid rate option. How does it compare to SoFi? Read our comparison chart below.

CommonBond is a student loan refinance provider focused on community. It has a strong community that hosts networking events and career assistance. In addition, it has a social mission to fund the education of global students in need. CommonBond offers both fixed and variable rate loans, as well as a hybrid loan. Minimum $5,000 in loans to be eligible.

While SoFi is one of the largest student loan refinancing providers. It refinances both federal and private loans, as well as Parent PLUS loans. It offers loan terms from 5 to 20 years. One unique benefit is that SoFi offers complimentary career coaching to borrowers out of work. Minimum $5,000 in loans to be eligible.

Compare CommonBond with SoFi, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 CommonBond Student LoansSoFi Student Loans
 Learn MoreLearn More
 

CommonBond Student Loans

SoFi Student Loans

SPECIAL OFFER
Refinance Student Loans - Learn More

Read CommonBond Review

SPECIAL OFFER
Refinance Student Loans - Learn More

Read SoFi Review

 

Benefits and Features

Variable APR
2.43% to 6.59% (with AutoPay)
2.31% to 7.36% APR (with AutoPay)
Fixed APR
3.49% to 8.07% (with AutoPay)
3.46% to 7.36% APR (with AutoPay)
Minimum Amount
$5,000
$5,000 (may be higher depending on state)
Maximum Amount
Up to $500,000
No maximum
Loan Term5 to 20 years; Hybrid loans are 5 years of fixed payments and 5 years of variable payments
5 to 20 years
State Residency
All states eligible
All states eligible
Degree Requirements
Associates or higher
Associates or higher
Income Requirements
None
None
Employment RequirementsMust be employed or have an offerMust be employed or have an offer to start within 90 days
Interest Only Payments
No
No
Origination Fees
None
None
Prepayment Penalty
None
None
Can Use a Cosigner
Yes
Yes
Can Release a Cosigner
Yes
No
Auto-Pay Interest Rate Reduction
Yes
Yes
Soft Credit Check
Yes
Yes
Unemployment Protection
Yes
Yes
 

CreditDonkey® Reviews

 CommonBond Student LoansSoFi Student Loans
Customer Service
Loan Term
Ease of Use
Interest Rates
Payment Flexibility
Pros & ConsPros:
  • Hybrid program
  • Payment protections
  • Social mission
Cons:
  • Not available for all states
  • Long process to approval
Pros:
  • Keep federal grace period
  • Refinance Parent Plus loans
Cons:
  • Must have great credit score
Bottom LineCommunity-focused lender with unique hybrid rate option... Read full reviewGood option if you have a great credit score... Read full review
 Learn MoreLearn More

Refinance Student Loans

Refinance Student Loans

 Terms Apply. SoFi Disclaimers

CommonBond: Pricing information from published website as of 6/19/2019

SoFi: Pricing information from published website as of 11/14/2019

Which is Better: CommonBond or SoFi?

Still need help deciding which student loans is better? Read the in-depth reviews below. You may also be interested in comparing CommonBond or ELFI.

In short: CommonBond's payment flexibility is excellent. SoFi's customer service is noteworthy.


Articles on CommonBond Student Loans


Articles on SoFi Student Loans

    SoFi

    Is student loan refinancing a good idea? Is SoFi legit? Is NOW a good time to refinance? Read on. The answers may surprise you.

Which Do You Think is Best?

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