CommonBond is an online lending platform that connects borrowers and investors to make education finance better.
CommonBond refinances graduate and undergraduate student loans for university graduates. CommonBond also provides in-school loans to MBA students at 20 programs in the United States.
CommonBond was founded in November 2011 by David Klein, Michael Taormina, and Jessup Shean, who met at the University of Pennsylvania's Wharton School MBA program. The company is based out of New York, New York.
CommonBond refinances graduate and undergraduate student loans for graduates of over 2,000 universities, saving the average borrower over $14,000 over the life of the loan. CommonBond also provides in-school loans to current MBA students at 20 programs in the United States. The company, which launched nationally in September 2013, is on track to fund or refinance more than $500 million in student loans by the end of 2015.
CommonBond announced a partnership with Prodigy Finance, an international post-graduate student lender, in July 2015. The partnership allows international post-graduate students to secure funding for their business school education in the US through Prodigy Finance, which determines the terms and conditions of the student loans.