SoFi Student Loans vs CommonBond Student Loans
SoFi is a good option if you have a great credit score. How does it compare to CommonBond? Read our comparison chart below.
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.
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 SoFi with CommonBond, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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SoFi Student Loans | CommonBond Student Loans | |
---|---|---|
Refinance Student Loans - | ||
Benefits and Features | ||
Variable APR | 2.25% to 6.43% APR (with AutoPay) | |
Fixed APR | 2.99% to 6.88% APR (with AutoPay) | |
Minimum Amount | $5,000 (may be higher depending on state) | |
Maximum Amount | ||
Loan Term | 5 to 20 years; Hybrid loans are 5 years of fixed payments and 5 years of variable payments | |
State Residency | ||
Degree Requirements | ||
Income Requirements | ||
Employment Requirements | Must be employed or have an offer to start within 90 days | 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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Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Loan Term | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Ease of Use | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Interest Rates | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Payment Flexibility | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Pros & Cons | Pros:
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Bottom Line | Good option if you have a great credit score... | Community-focused lender with unique hybrid rate option... |
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Terms Apply. | ||
SoFi: Pricing information from published website as of 6/9/2020 CommonBond: Pricing information from published website as of 6/19/2019 |
Which is Better: SoFi or CommonBond?
Still need help deciding which student loans is better? Read the in-depth reviews below. You may also be interested in comparing SoFi or Earnest.
In short: SoFi's customer service is noteworthy. CommonBond's payment flexibility is excellent.
Articles on SoFi Student Loans
SoFi Student Loan Refinance Reviews
Articles on CommonBond Student Loans
CommonBond Reviews
Which Do You Think is Best?
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