Find all School-related info fast with the new School-Specific MBA Forum

 It is currently 25 Oct 2016, 21:30

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# Has anybody used Commonbond for their loans?

Author Message
Director
Joined: 20 May 2013
Posts: 596
Location: United States
Concentration: Strategy, Finance
GMAT 1: 750 Q49 V44
Followers: 14

Kudos [?]: 276 [0], given: 54

Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

23 Apr 2014, 16:37
Is it the best deal out there? Has anybody had good/bad experiences with them?
Current Student
Joined: 30 Jan 2010
Posts: 301
Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
GMAT 1: 770 Q V0
WE: Project Management (Real Estate)
Followers: 12

Kudos [?]: 139 [0], given: 73

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

25 Apr 2014, 15:20
I looked at them and will consider them again next year, but found a better mix of rates, discounts, and terms elsewhere. There is no one-size-fits-all best deal.
Director
Joined: 20 May 2013
Posts: 596
Location: United States
Concentration: Strategy, Finance
GMAT 1: 750 Q49 V44
Followers: 14

Kudos [?]: 276 [0], given: 54

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

28 Apr 2014, 10:47
brandon432 wrote:
I looked at them and will consider them again next year, but found a better mix of rates, discounts, and terms elsewhere. There is no one-size-fits-all best deal.

Which did you find to be better than commonbond? Which type of rates were you able to find?
Current Student
Joined: 30 Jan 2010
Posts: 301
Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
GMAT 1: 770 Q V0
WE: Project Management (Real Estate)
Followers: 12

Kudos [?]: 139 [1] , given: 73

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

28 Apr 2014, 11:58
1
KUDOS
1
This post was
BOOKMARKED
Well, there are federal loan programs (Stafford and PLUS). Last I checked the fixed rates are similar to SoFi and CommonBond, but the federal loans offer more flexible terms. Also, most big banks offer student loans: Wells Fargo, BofA, Citi, Discover, etc. I ended up taking loans from Discover (75% of COA) and CharterOne (25% of COA) at 4.25% (full deferral) and 3.42% (interest only in school) variable (includes discounts). Here's a list of of providers that is somwhat up-to-date: http://www.finaid.org/loans/educationlenders.phtml

My strategy was to apply everywhere, then compare terms. All applications within 30 days only count as one inquiry for credit scoring purposes.
Intern
Joined: 28 Apr 2014
Posts: 6
Followers: 0

Kudos [?]: 0 [0], given: 0

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

28 Apr 2014, 17:00
At any given time there are always diff deals. Good to shop around each and every time.
Director
Joined: 20 May 2013
Posts: 596
Location: United States
Concentration: Strategy, Finance
GMAT 1: 750 Q49 V44
Followers: 14

Kudos [?]: 276 [0], given: 54

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

29 Apr 2014, 07:08
What's everyone's thoughts on variable versus fixed? I'd expect interest rates to increase soon, so was planning to do fixed?
Current Student
Joined: 30 Jan 2010
Posts: 301
Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
GMAT 1: 770 Q V0
WE: Project Management (Real Estate)
Followers: 12

Kudos [?]: 139 [0], given: 73

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

29 Apr 2014, 07:14
How much do you expect them to rise? How soon? How long until you can pay off the loans, conservatively? Optimistically? What's your risk tolerance? These are all hypotheticals you should be thinking about.

For me, I expect them to rise, perhaps even significantly. I also project a pretty quick payoff (given my specific situation) so was willing to take that risk, assuming I was offered very low rates, which I was. For a 1% savings, I probably would have stuck with fixed.
Director
Joined: 20 May 2013
Posts: 596
Location: United States
Concentration: Strategy, Finance
GMAT 1: 750 Q49 V44
Followers: 14

Kudos [?]: 276 [0], given: 54

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

29 Apr 2014, 07:49
Thanks, since I'll have a high debt load and will probably have to deal with getting married (to a girl who will have DNP school debt) and all that jazz, I assume my payment period will be closer to the full 10 years than I'd like, so I think I'm going to go with fixed rates. Thanks again for the help!
Senior Manager
Status: busyness school student
Joined: 09 Sep 2013
Posts: 419
Location: United States
Schools: Tepper '16 (M)
GMAT 1: 730 Q52 V37
Followers: 16

Kudos [?]: 294 [0], given: 145

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

22 May 2014, 08:43
mgg234 wrote:
Thanks, since I'll have a high debt load and will probably have to deal with getting married (to a girl who will have DNP school debt) and all that jazz, I assume my payment period will be closer to the full 10 years than I'd like, so I think I'm going to go with fixed rates. Thanks again for the help!

You should do some research on her end of the stick. I don't know what your (or her) situation is, but it may be advantageous for you to use lower variable interest rates and pay it off ASAP (or do a mix of fixed/variable and hedge).

Don't worry about her loans, and you should consider it as a separate equation. Depending on her plans, her education should be entirely funded with Direct federal loans, especially if she decides to work at a hospital or other public service. In fact, I might recommend that she takes out the max  loans she possibly can from the government. There are lots of benefits for Direct govt loans (for her) that don't apply to us MBA folks. It's likely her loans can be forgiven.
_________________

My review of some of the CAT practice exams
You can usually find me on gmatclub's chat.

Current Student
Joined: 30 Jan 2010
Posts: 301
Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
GMAT 1: 770 Q V0
WE: Project Management (Real Estate)
Followers: 12

Kudos [?]: 139 [0], given: 73

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

22 May 2014, 09:54
You can also go variable now and consolidate to fixed at graduation. Pretty sure both Sofi and ComminBond have solid refi options.

Posted from my mobile device
Director
Joined: 20 May 2013
Posts: 596
Location: United States
Concentration: Strategy, Finance
GMAT 1: 750 Q49 V44
Followers: 14

Kudos [?]: 276 [0], given: 54

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

22 May 2014, 10:06
Isn't there a risk the fixed rate will go up in 2 years though?
Current Student
Joined: 30 Jan 2010
Posts: 301
Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
GMAT 1: 770 Q V0
WE: Project Management (Real Estate)
Followers: 12

Kudos [?]: 139 [0], given: 73

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

23 May 2014, 08:07
Yes.
Intern
Joined: 01 Sep 2014
Posts: 5
Followers: 0

Kudos [?]: 0 [0], given: 0

Re: Has anybody used Commonbond for their loans? [#permalink]

### Show Tags

28 Aug 2016, 09:23
I'd also look at the potential to refinance once you have offers in hand, not just the current fixed rates. My friend had higher rates with CommonBond than SoFi, but CB offers better job search/ networking support. The salary bump mitigated the higher interest rates on the initial loan.
Re: Has anybody used Commonbond for their loans?   [#permalink] 28 Aug 2016, 09:23
Similar topics Replies Last post
Similar
Topics:
International Student Loan without US Cosignor 0 01 Dec 2015, 11:07
Reducing interest rates on U.S. Federal loans 1 23 Apr 2014, 18:28
4 Good Credit in US. Private Loans vs. Stafford / PLUS? 3 22 Apr 2010, 14:48
2 Loans for US students studying abroad -- what exchange rate? 11 25 Dec 2008, 04:39
Guaranteed Loans 1 27 Dec 2007, 20:28
Display posts from previous: Sort by