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Changing the student loan landscape

Last year we heard from ASDA, current dental students and their financial aid officers that there was a need for a better option to cover the cost of dental school. We’ve also worked with thousands of doctors and dentists in our refinance business, so we knew the challenges they face in paying for school and wanted to help lower the cost.

At CommonBond, we’ve been supporting students with better student loans for years. We have deep experience working with investors to build programs that offer great rates to students based on their strong prospects. We are proud to continue offering our in-school loan option for dental students. In fact, dental students that borrowed last year with CommonBond are on track to save a significant amount of money.

A gap in the market

Many students are familiar with the Federal Grad PLUS loan. What most don’t realize, however, is that the federal government offers the same interest rate to all graduate students, regardless of the student’s course of study or future earning potential. The current Federal Grad PLUS loan carries a 7.08% interest rate and 4.236% origination fee. Dental students are not your average student, so a one-size-fits-all loan doesn’t seem right.

Dental students are a high-achieving group, and we recognize how competitive it is to get into dental school, the high rates of graduation, employment and strong earning potential. A dental career is a smart investment for you, and we believe it’s a smart investment for us because we understand the great prospects dental students have.

How CommonBond is different

CommonBond is a new kind of student loan company. We look at each borrower as an individual and use technology to offer dynamic pricing that’s personalized to your unique situation. In addition, while we were creating this new product, we worked with ASDA to build our student loan specifically for dental students. We thought there should be a better option that reflects the great prospects dental students have.

CommonBond’s dental loan variable interest rates start at 4.98% APR, and only carry a 2% origination fee.* A student that takes a 10-year fully deferred loan with CommonBond could save thousands of dollars over the life of the loan.** We’re excited to partner with the next generation of dentists and help today’s dental students invest in their future.

Your CommonBond loan is ready: Get started today.

– Pete Wylie, Chief Operating Officer at CommonBond

*Offered terms are subject to change and state law restriction. Variable rates may increase after consummation.

**Savings of $7,994 assuming a $50,000 fully deferred 10-year loan with a 48-month deferral period plus a six-month grace period with a single disbursement with CommonBond loan at a fixed 6.08% APR and 2% origination fee versus a Federal Grad PLUS at an interest rate of 7.01% APR plus a 4.236% origination fee.

Loans are offered through CommonBond Lending, LLC (NMLS #1175900).

This blog post was sponsored by CommonBond.

CommonBond

CommonBond is an education finance company that offers students more affordable, transparent and simpler ways to pay for school. CommonBond has funded over $3 billion in student loans for its members and has created a new loan specifically for dental students, crafted with input from ASDA members. Learn more at www.commonbond.co/student-loans/dental.

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