Earnest Student Loans vs CommonBond Student Loans
Earnest is a merit-based lender with custom terms. How does it compare to CommonBond? Read our comparison chart below.
Earnest sets itself apart by taking a more personalized approach to lending. Instead of just looking at your credit score, Earnest also considers your job, savings habits, and how you handle finances. It offers flexibility in payments, with the option to switch between fixed and variable rates. You also can skip a payment every 12 months without penalty. Minimum $5,000 in loans to be eligible.
While 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.
Compare Earnest with CommonBond, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Earnest Student Loans | CommonBond Student Loans | |
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Refinance Student Loans - | Refinance Student Loans - | |
Benefits and Features | ||
Variable APR | 1.74% - 7.99% APR (includes 0.25% autopay discount) | 4.44% – 8.09% APR (with AutoPay) |
Fixed APR | 2.99% - 7.99% APR (includes 0.25% autopay discount) | 4.49% – 7.74% APR (with AutoPay) |
Minimum Amount | ||
Maximum Amount | ||
Loan Term | Custom term from 5 to 20 years (180 term options) | |
State Residency | Most states with the exception of: DE, KY, and NV and no variable rate loans to residents of: AK, IL, MN, NH, OH, TN and TX | Most states with the exception of: MI and NV |
Degree Requirements | ||
Income Requirements | ||
Employment Requirements | Must be employed or have an offer for a position to start within 6 months | Must be employed or have an offer |
Interest Only Payments | ||
Origination Fees | ||
Prepayment Penalty | ||
Can Use a Cosigner | ||
Can Release a Cosigner | ||
Auto-Pay Interest Rate Reduction | ||
Soft Credit Check | ||
Unemployment Protection | ||
CreditDonkey® Reviews | ||
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Interest Rates | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Payment Flexibility | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Pros & Cons | Pros:
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Bottom Line | Merit-based lender with custom terms... | Community-focused lender with unique hybrid rate option... |
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Terms Apply. | ||
Earnest: Pricing information from published website as of 06/07/2022 CommonBond: Pricing information from published website as of 6/19/2019 |
Which is Better: Earnest or CommonBond?
Still need help deciding which student loans is better? Read the in-depth reviews below. You may also be interested in comparing Earnest or SoFi.
In short: CommonBond's payment flexibility is excellent.