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LendKey vs Commonbond: Student Loan Refinancing Comparison

Both LendKey and Commonbond are well-known student loan companies, and their refinancing rates and terms are fairly close.

CommonBond may be the right refinancing option for you if you’re seeking a firm that’s dedicated to making student loan payments less complicated.

LendKey is well-known for its innovative refinancing technique. Its goal is to introduce consumers to lenders they may not often be able to access, such as credit unions and local lenders who provide cheap interest rates and attentive customer care. 

This suggests that LendKey can be a fantastic choice for anyone wishing to save money while assisting small businesses.

We suggest evaluating the interest rates each lender charges in order to determine which one is best for your situation. You may compare them side by side.

LendKey vs Commonbond

Interest rate (APR)Variable APR: 2.51% to 7.51%  Fixed APR: 3.49% to 7.54%Fixed APR: 2.49-7.04% Variable APR: 1.98-7.14%
Loan Amounts$7,500 to $300,000 $5,000 to $500,000
Minimum Credit Score660680
Loan Term5 to 20 yearsCustom term from 5 to 20 years
Financeive’s rating4.6/55/5

LendKey Advantages 

LendKey lets you quickly evaluate a range of offers from hundreds of smaller lenders that provide competitive rates and first-rate customer service.

While some lenders may charge late fees, LendKey does not charge application, origination, or prepayment fees.

To allow for permission, processing, certification, and disbursement, borrowers should submit a loan application at least one month before they need it.

Your credit score won’t be impacted by checking your rate with LendKey. They will run a light credit check rather than a complete one.

In the event LendKey denies your request for refinancing, it will provide a thorough explanation. LendKey will ultimately feature a six-month grace period for repayment.

Check out our in-depth evaluation of LendKey right away.

Commonbond Advantages

CommonBond is a lender that specialised in refinancing for borrowers with bachelor’s degrees or higher. It differs from other private lenders in that it only allows forbearance for a maximum of 24 months.

The best choice for recent grads who previously planned to use a co-signer is CommonBond. Even though the majority of students require a co-signer, doing so can allow you to get the lender’s most competitive rates.

You may postpone payments if necessary thanks to the lender’s clearly specified hardship program. During the loan term, borrowers are permitted to request a total hardship forbearance of up to 24 months.

Additionally, every time a degree is fully paid for by CommonBond, the lender funds one year of tuition for a student from a low-income family through the worldwide nonprofit organization Pencils of Promise.

Check out our detailed review of Commonbond right now.

How Do Commonbond and LendKey Differ in Their Eligibility Requirements?


CommonBond is also known for achieving a greater acceptance rate than other student loan refinancing companies. Borrowers with good credit should anticipate receiving loans with low-interest rates, while those with bad credit may still be approved.

A co-signer can still satisfy the requirements with a minimum FICO score of 660 and a 2-year job and credit history. All student borrowers are needed to be enrolled at least half-time in a program leading to a degree.


LendKey has standard criteria for applying for student loans, while the conditions for loans vary depending on the lender. Borrowers must:

It is a requirement that you be an American national or lawful permanent resident. North Dakota, Maine, Nevada, Rhode Island, and West Virginia does not offer loans. There must be at least an associate’s degree.

A student must have attended a school that is supported by the federal government. Although a co-signer is not necessary, 37% of borrowers do.

But the majority of LendKey lenders have the following conditions:

  • The co-yearly signer’s salary must be at least $12,000, or $24,000 without.
  • Cosigners or approved borrowers often have credit scores of 751, on average.
  • The minimal credit score is 660.
  • The qualifying borrowers’ average yearly wage is $65,000.
  • Refinancing has a 50% maximum debt-to-income ratio.

How Should You Decide Between Commonbond and LendKey?

LendKey is an excellent substitute for borrowers who wish to remove some of the hassles from loan comparison. Through the network, you can rapidly compare various offers from hundreds of smaller lenders who provide favorable rates and top-notch client care.

CommonBond may be the right refinancing option for you if you’re seeking a firm that’s dedicated to making student loan payments less complicated. 

A broad variety of fixed- and variable-rate loans are available from the organization to accommodate different financial circumstances. It has furthermore been praised for providing world-class customer service.

Our Methodology

Financeive is dedicated to providing objective, comprehensive reviews of student loan companies to students.

We gathered over 30 data points from different lenders to ensure that our information supports borrowers in choosing the optimal educational loan choices for their circumstances.

Frequently Asked Questions