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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.

 SoFi Student LoansCommonBond Student Loans
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SoFi Student Loans

CommonBond Student Loans

SPECIAL OFFER
Refinance Student Loans - Learn More

Read SoFi Review

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Refinance Student Loans - Learn More

Read CommonBond Review

 

Benefits and Features

Variable APR3.21% to 6.67% APR (with AutoPay)
2.43% to 6.59% (with AutoPay)
Fixed APR3.49% to 6.67% APR (with AutoPay)
3.49% to 8.07% (with AutoPay)
Minimum Amount$5,000 (may be higher depending on state)
$5,000
Maximum Amount
No maximum
Up to $500,000
Loan Term
5 to 20 years
5 to 20 years; Hybrid loans are 5 years of fixed payments and 5 years of variable payments
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 offer to start within 90 daysMust be employed or have an offer
Interest Only Payments
No
No
Origination Fees
None
None
Prepayment Penalty
None
None
Can Use a Cosigner
Yes
Yes
Can Release a Cosigner
No
Yes
Auto-Pay Interest Rate Reduction
Yes
Yes
Soft Credit Check
Yes
Yes
Unemployment Protection
Yes
Yes
 

CreditDonkey® Reviews

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

Refinance Student Loans

Refinance Student Loans

Terms Apply. SoFi Disclaimers 
What Others View

SoFi: Pricing information from published website as of 4/24/2020

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


Articles on CommonBond Student Loans


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About CreditDonkey®
CreditDonkey is a student loan comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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