Student Loan Refinancing
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Student Loan Refinancing

ROA has partnered with CommonBond, a leading student lender, to help you save money through student loan refinancing. Refinancing your federal or private student loans with a new one at a lower interest rate can save you thousands. On average, CommonBond members save $24,046 with their low interest rates1, in addition to offering award-winning service and a simple application process. Plus ROA members get $100 cash back from CommonBond when they refinance!

Here’s what you get when you choose to refinance your student loans with CommonBond:

  • Savings: CommonBond members save $24,046, on average, with our low interest rates.1
  • Service: Our award-winning care team is just a click, call, or chat away.  Email us at We’d love to hear from you!
  • Simplicity: It only takes a few minutes to get your free rate quote through our easy online application.
  • Social Promise: For every loan we fund, we also fund the education of a child in need in the developing world.


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1Savings calculation of $24,046 is based on difference between borrowers’ estimated future payments for their previously held loans and their future expected payments after refinancing with CommonBond. The calculation is a weighted average dollar savings of CommonBond refinance loans and assumes interest rates will not change over time, members make all payments on time, members enroll in ACH, and they do not pre-pay their loans.

Answers about the plan, including eligibility, options, enrollment, customer service and more.

CommonBond is a leading, technology-enabled consumer lender that focuses on funding and refinancing student loans with lower rates, better service, and a great community experience. The best part? The average member saves $24,046 and you'll also receive a $100 cash bonus when you refinance with CommonBond.

Our founders felt firsthand the personal pain of the student loan process when they were in school: high interest rate loans, poor service, and a confusing process. They founded CommonBond to change all of that - to bring to market a product and a service they wished had existed when they were in school.

  • CommonBond members who refinance their student loans can save thousands over the life of their loan.
  • We offer borrower protections similar to those offered by federal loans: you can defer payments if you lose your job or decide to go back to school, and your loan would be forgiven in the case of death or permanent disability.
  • There are no origination fees, and no prepayment penalties. Ever.
  • You can add a cosigner to your loan, in the event that you don’t qualify on your own.

You, your family members and friends are eligible to apply for refinancing. In order to qualify, you need to be a U.S. citizen or permanent resident who graduated from a selection of more than 2,000 Title IV accredited universities or graduate programs.

Anytime! You can refinance whenever is convenient for you and receive the $100 cash bonus year round.
Nothing! There are no costs to refinance. That includes no origination fees, no application fees, and no prepayment penalties.

Yes. When you refinance, the relationship is between you and CommonBond, so your loan will not be affected if you leave your association.

  • Refinancing means taking out a new loan to replace an existing loan.
  • Lenders pay off existing loans, and create a new loan at a lower interest rate.
  • You can refinance federal, private, Parent Plus and previously consolidated student loans.

We're glad you asked! Check out our page on the differences between the two here.

The interest rate for a refinance loan depends on your credit profile, your choice of variable rate or fixed rate, and the length of repayment for the loan.

Our investors believe, as do we at CommonBond, that creditworthy borrowers deserve lower rates than traditional institutions have provided in recent years. We are therefore able to provide funds to these creditworthy borrowers at more affordable terms. It's really a win-win.

The federal government offers income-based repayment and special forgiveness programs for borrowers in public service professions. Graduates with federal loans working in such industries may therefore prefer to keep their federal loans to maintain these extra borrower protections. Similar to federal student loans, under certain circumstances, including for economic hardship, you may be eligible for loan forbearance. In this case, you may temporarily postpone making monthly loan payments for a specific period of time.

We're here to help! Please contact us in whatever manner is most convenient for you.

Mailing Address:

Program Administrator
Mercer Consumer
12421 Meredith Drive
Urbandale, IA 50398
Hours: 7am to 5pm M-F (Central)

Insurance Company
524 Broadway, 6th Fl.
New York, NY 10012
Phone: 1 (800) 975-7812
Hours: 9am to 6pm M-F (EST)

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