10 Best Checking Accounts for College Students

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Easy access to your money, without high fees or confusing terms and conditions, is the most important feature a college checking account can offer.

When you’re new to banking, costly fees for account maintenance or overdrafts — meaning you’ve spent or withdrawn more money than you have available — can creep up on you. It may be worth finding a checking account that limits extra charges. Other criteria, such as ATM access and quality customer service, also matter.

Here is our list of the 10 best checking accounts for college students, based on the criteria we believe are most valuable to them.

How we chose the 10 best college checking accounts

To create this list, we looked at nationwide banks and credit unions that offer checking accounts to customers 18 and older. We didn’t restrict our choices to accounts geared specifically toward college students — in most cases, banking features that appeal to post-grad customers are useful for students, too.

We ranked our choices based on the number of criteria they met. Here are the top features we looked for when evaluating college checking accounts:

  • No minimum opening balance
  • No ongoing balance requirement
  • No overdraft fees, or a default overdraft policy that automatically declines transactions you can’t afford
  • Extensive, nationwide fee-free ATM network
  • No loss of features or increase in fees when college ends

Our secondary criteria included:

  • Easy-to-use online or mobile banking options
  • Accessible customer service, ideally including an online chat function
  • Free budgeting tools for customers

Some consumers might place a premium on in-person customer service or on a familiar brand name. But for college students, clarity and affordability in a checking account are paramount. We also expect that those new to banking and comfortable with technology may be more willing to bank primarily online or via a mobile app, which is why you’ll see several institutions on our list that don’t have a brick-and-mortar presence.

Note: All figures throughout these rankings are accurate as of Feb. 28, 2020

Best checking accounts for college students

1: Discover Cashback Debit
2: Capital One 360 Checking®
3: Axos Bank Rewards Checking
4: Chime Spending Account
5: Alliant Credit Union High-Rate Checking
6: Simple Checking
7: Ally Bank Interest Checking
8: USAA Classic Checking
9: PNC Bank Virtual Wallet Student
10: Chase College CheckingSM
Also: How to find the best college checking account for you

No. 1: Discover Cashback Debit

Discover Cashback Debit
Minimum opening balance$0
Minimum balance requirement$0
Monthly fee$0
APYNone; 1% cash back on up to $3,000 in debit card purchases monthly
ATM accessAccess to more than 60,000 fee-free ATMs; Discover doesn’t charge ATM fees; ATM operators might charge fees, which Discover doesn’t refund

Discover’s Cashback Debit checking account offers two especially beneficial features for students: cash back on purchases and no overdraft fees.

While Discover’s checking account doesn’t earn interest, cash back is a worthwhile replacement. Students can enjoy the benefits of cash back without having to get a credit card, which can be hard for them to qualify for without a cosigner or independent income — and which can tempt some students into debt.

Discover’s overdraft policy is also student friendly. It charges no overdraft fees, though you can opt for free overdraft coverage from a linked Discover savings account if you don’t want charges to get declined.

No. 2: Capital One 360 Checking

Capital One 360 Checking
Minimum opening balance$0
Minimum balance requirement$0
Monthly fee$0
APY● $0 to $49,999.99: 0.10%
● $50,000 to $99,999.99: 0.10%
● $100,000 or more: 0.10%
ATM accessAccess to 39,000 Capital One and fee-free Allpoint ATMs

Capital One 360 Checking combines the established name of a national bank with many of the features of our favorite online-only banks. Besides its lack of account fees, it offers a higher APY on all balance tiers than other major retail banks, according to research from ValuePenguin, which, like Student Loan Hero, is owned by LendingTree. Plus, you can bank in person at a Capital One location if there’s one in your hometown or college town.

Its overdraft policies really make it stand out, though. Capital One 360 makes it easy to choose an overdraft option that will limit charges. We recommend that students go with Auto-Decline, which will reject transactions that would overdraw your account. You can also have Capital One fund overdrawn transactions from a linked 360 savings account for free.

No. 3: Axos Bank Rewards Checking

Axos Bank Rewards Checking
Minimum opening balance$50
Minimum balance requirement$0
Monthly fee$0
APYUp to 1.25%  if you meet certain requirements
ATM accessUnlimited reimbursements on domestic ATM fees

Axos is an online-only bank that charges the lowest fees of the accounts we examined. While it does require $50 to open an account, Axos’ lack of any overdraft, ATM or maintenance fees can give college students peace of mind.

Students can receive many of the same benefits from Axos Bank’s Essential Checking account, which doesn’t earn interest. But its Rewards Checking account is worth looking into because it offers the chance to earn up to 1.25% APY. In other words, you can earn 0.4166% APY for receiving monthly direct deposits of $1,000 or more, another 0.4166% APY for using your debit card 10 times a month on purchases of $3 or more and an additional 0.4166% APY if you use your debit card five more times.

You may not qualify for the top-tier APY now, but choosing Axos gets you access to competitive interest rates in the future.

No. 4: Chime Spending Account

Chime Spending Account
Minimum opening balance$0
Minimum balance requirement$0
Monthly fee$0
APYNone
ATM accessAccess to 38,000+ fee-free ATMs and an additional 30,000+ affiliated locations to get cash back; $2.50 out-of-network ATM fee

Chime, like Axos Bank, is an online bank with a simple fee structure: It doesn’t have many. The only one to keep an eye on is Chime’s $2.50 out-of-network ATM fee, which you can avoid by searching for one of its thousands of in-network ATMs.

Chime also doesn’t charge foreign transaction fees, which makes using your debit card a good option for those traveling or studying abroad. While Chime offers a good starter checking account, you may want to upgrade to an account that earns interest if you start earning money in school or after.

No. 5: Alliant Credit Union High-Rate Checking

Alliant Credit Union High-Rate Checking
Minimum opening balance$0
Minimum balance requirement$0
Monthly fee$0
APY0.25%
ATM accessAccess to 80,000+ fee-free ATMs; Alliant doesn’t charge ATM fees; up to $20 a month in rebates for other institutions’ ATM fees

Alliant Credit Union is a national, nonprofit, member-owned financial institution that offers a checking account with rock-bottom fees. It’s one of our top choices because college students won’t have to worry about accruing maintenance or ATM fees during school or after. It also gives them the opportunity to earn solid interest rates on their account balances.

Like other credit unions, Alliant requires you to become a member to open an account, but it offers lots of ways to do so. You can qualify based on your employer, the community in which you live, organizations of which you’re a member or by joining Alliant’s partner charity (Alliant will donate the $5 fee on your behalf).

To access Alliant’s higher-than-average interest rates, you must choose to get electronic statements instead of paper statements and receive at least one electronic deposit a month. That can include direct deposits from an employer or ATM deposits, which makes this benefit accessible to college students who may not yet receive consistent direct deposits from work.

Alliant doesn’t offer a service that automatically declines charges or withdrawals against your checking account if you don’t have enough money to cover them. That’s one of the best options for students because it helps you avoid confusing overdraft fees. But as long as you set up a linked Alliant savings account, it will transfer funds to your checking account to cover the item at no cost.

No. 6: Simple Checking

Simple Checking
Minimum opening balance$0
Minimum balance requirement$0
Monthly fee$0
APYNone; 0.80% APY available if you open a Simple Protected Goals account and transfer funds from a Simple Checking account
ATM accessAccess to 55,000+ fee-free ATMs; Simple will not refund out-of-network ATM fees

Simple is an online bank with long-term potential for college students. It charges minimal fees and provides the opportunity to earn solid interest rates.

If you open a Simple Protected Goals account after you’ve funded a Simple Checking account, you could get a 0.80% APY.

Even if you only use Simple’s checking account in the meantime, you won’t have to worry about overdraft fees, and you’ll get access to free in-app budgeting tools, too.

No. 7: Ally Bank Interest Checking

Ally Bank Interest Checking
Minimum opening balance$0
Minimum balance requirement$0
Monthly fee$0
APY 0.10% on daily balances less than $15,000; 0.50% on daily balances of at least $15,000
ATM accessAccess to 55,000+ fee-free ATMs; up to $10 in refunds per month on out-of-network ATM fees

Ally Bank’s limited fees make it a strong option for college students, and so does the opportunity to earn a higher APY when you reach a larger balance tier in the future.

The one tricky fee Ally Bank does charge — $25 for overdrafts — is easy to avoid. First, you’ll pay a single $25 fee per day when you overdraw your account, and it’ll be waived if you make only one ATM withdrawal or debit card payment your account can’t cover. You also won’t be charged multiple fees if you make a few purchases before realizing what happened. Finally, similar to what other banks offer, you can link an Ally Bank savings account to cover overdrafts, which won’t incur a fee.

No. 8: USAA Classic Checking

USAA Classic Checking
Minimum opening balance$0 for new military recruits; otherwise, $25
Minimum balance requirement$0
Monthly fee$0
APY0.01% on balances of $1,000 or more
ATM accessFirst 10 withdrawals free at any ATM; $2 fee thereafter, except at USAA-affiliated ATMs, which are free to use; up to $15 refund on other institutions’ ATM fees per month

USAA is unique in that it has specific membership requirements: You must be a military service member or an eligible family member to open an account. But if you qualify, joining USAA gets you access to banking products with low fees, including USAA’s Classic Checking account. USAA offers lots of other financial products that may prove useful in college and beyond, including insurance, loans and retirement accounts.

As a Classic Checking customer, you’ll have to make sure you stay within the ATM withdrawal limits to avoid fees. But overdraft fees are easier to steer clear of. Charges you can’t cover will be declined unless you opt in to overdraft protection, which is available at no cost if you link a USAA checking or savings account. Some overdrafts — from a check, for instance — can lead to a $29 fee, though.

No. 9: PNC Bank Virtual Wallet Student

PNC Bank Virtual Wallet Student
Minimum opening balance$0 if opened online; otherwise, $25
Minimum balance requirement$0 for 6 years from account opening
Monthly fee$0 for 6 years from account opening
APYUp to 0.03% if you meet certain requirements
ATM accessNo fees at PNC Bank ATMs; $3 fee at domestic non-PNC Bank ATMs; $5 fee at international non-PNC Bank ATMs; up to $5 in other institutions’ ATM fees reimbursed per statement period

One of the only student-oriented accounts on the list, PNC Virtual Wallet Student gives students access to three accounts. You’ll receive a checking account that doesn’t earn interest, an additional interest-bearing checking account and a savings account that can earn you up to 0.01% APY (but only if you meet certain specific requirements).

Virtual Wallet Student has a complex schedule of fees that can be hard to decipher, but it’s worth considering if you live or go to school in an area served by PNC ATMs. From six years of the account opening, students won’t pay standard account fees, and you’ll only be charged for overdrafts by check or automatic bill payments, not ATM withdrawals or a single debit card transaction. PNC Bank will also refund your first overdraft fee.

No. 10: Chase College Checking

Chase College Checking
Minimum opening balance$0
Minimum balance requirement$0 for up to 5 years while in school
Monthly fee$0 for up to 5 years while in school
APYNone
ATM accessAccess to 16,000 Chase ATMs and nearly 5,000 branches; $2.50 fee at out-of-network ATMs

For college students ages 17 to 24 who live in an area served by Chase, the bank’s College Checking account provides some useful benefits. You won’t pay maintenance fees while in school, and you can avoid them after graduation by getting monthly direct deposits or maintaining a balance of $5,000.

Out-of-network ATM fees are $2.50, though, and overdrafts are pricey: They’re $34 each, and you could pay an overdraft fee on up to three transactions a day. But if you’re willing to watch out for fees on this account, you’ll get a $100 sign-up bonus if you make 10 eligible transactions within 60 days of opening the account.

How to find the best college checking account for you

Every student will have different priorities when searching for a checking account. For instance, if you’re extra conscientious about watching your balance, overdraft fees might not be a concern for you. Or perhaps you live or go to school in an area dominated by a major retail banking chain and you don’t foresee needing to bank elsewhere.

But make sure to understand every fee your potential bank will charge and how they could affect you when you’re no longer a student. Finding your best checking account can be time-consuming, but it’s worth doing thoroughly to make sure you pick a bank you’ll love.

Miranda Marquit contributed to this report.

Need a student loan?

Here are our top student loan lenders of 2020!
LenderVariable APREligibility 
1.24% – 11.44%1Undergraduate, Graduate, and Parents

Visit Earnest

1.25% – 11.15%*,2Undergraduate and Graduate

Visit SallieMae

1.24% – 11.98%3Undergraduate, Graduate, and Parents

Visit College Ave

1.24% – 12.49%4Undergraduate and Graduate

Visit Discover

1.80% – 11.89%5Undergraduate and Graduate

Visit SoFi

2.71% – 12.99%6Undergraduate and Graduate

Visit Ascent

3.52% – 9.50%7Undergraduate and Graduate

Visit CommonBond

* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.

1 Important Disclosures for Earnest.

Earnest Disclosures

  1. Rates include 0.25% Auto Pay Discount
     
  2. Explanation of Rates “With Autopay” (APD)
    Rates shown include 0.25% APR discount when client agrees to make monthly principal and interest payments by automatic electronic payment. Use of autopay is not required to receive an Earnest loan.

    Available Terms
    For Cosigned loans – 5, 7, 10, 12, 15 years. 
    Primary Only – 10, 12, 15 years

    In school deferred payment is not available in AL, AZ, CA, FL, MA, MD, MI, ND, NY, PA, and WA).


2 Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.

3 Important Disclosures for College Ave.

CollegeAve Disclosures

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

  1. Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
  2. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a first year graduate student borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.10% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $141.66 while in the repayment period, for a total amount of payments of $16,699.21. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 9/1/2020. Variable interest rates may increase after consummation. Lowest advertised rates require selection of full principal and interest payments with the shortest available loan term.


4 Important Disclosures for Discover.

Discover Disclosures

  1. Aggregate loan limits apply.
  2. Students who get at least a 3.0 GPA (or equivalent) qualify for a one-time cash reward on each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Please visit DiscoverStudentLoans.com/Reward for any applicable reward terms and conditions.
  3. Lowest APRs shown are available for the most creditworthy applicants and include an interest-only repayment discount and Auto Debit Reward. The interest rate ranges represent the lowest and highest interest rates offered on Discover student loans, including undergraduate and graduate loans. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. For variable interest rate loans, the 3-Month LIBOR is 0.375% as of July 1, 2020. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Our lowest APR is only available to customers with the best credit and other factors. Your APR will be determined after you apply. It will be based on your credit history, which repayment option you choose and other factors, including your cosigner’s credit history (if applicable). Learn more about Discover Student Loans interest rates.
  4. Lowest APRs shown for Discover Student Loans are available for the most creditworthy applicants for the Discover Private Consolidation Loan and include an Auto Debit Reward. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. For variable interest rate loans, the 3-Month LIBOR is 0.375% as of July 1, 2020. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Our lowest APR is only available to customers with the best credit and other factors. Your APR will be determined after you apply. It will be based on your credit history, which repayment option you choose and other factors, including your cosigner’s credit history (if applicable). Learn more about Discover Student Loans interest rates.
Lowest APRs shown for Discover Student Loans are available for the most creditworthy applicants for undergraduate loans, and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments.

5 Important Disclosures for SoFi.

sofiDisclosures

UNDERGRADUATE LOANS: Fixed rates from 4.23% to 11.76% annual percentage rate (“APR”) (with autopay), variable rates from 1.90% to 11.66% APR (with autopay). GRADUATE LOANS: Fixed rates from 4.13% to 11.83% APR (with autopay), variable rates from 1.80% to 11.73% APR (with autopay). MBA AND LAW SCHOOL LOANS: Fixed rates from 4.30% to 11.98% APR (with autopay), variable rates from 1.97% to 11.89% APR (with autopay). PARENT LOANS: Fixed rates from 4.60% to 11.26% APR (with autopay), variable rates from 1.90% to 11.16% APR (with autopay). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin and your APR may increase after origination if the LIBOR increases. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 07/10/2020. Enrolling in autopay is not required to receive a loan from SoFi. SoFi Lending Corp., licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. NMLS #1121636 (www.nmlsconsumeraccess.org).


6 Important Disclosures for Ascent.

Ascent Disclosures

Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB). Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. Loan products may not be available in certain jurisdictions, and certain restrictions, limitations; and terms and conditions may apply. Ascent is a federally registered trademark of Turnstile Capital Management (TCM) and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.

  1. Competitive variable rates calculated monthly at the time of loan approval based on a margin plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent. The current LIBOR is 0.176%, which may adjust monthly. Your interest rate may increase or decrease, based on LIBOR monthly changes. Rates are effective as of 09/01/2020 and reflect an Automatic Payment Discount. Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. (See Automatic Payment Discount Terms & Conditions.)
    1. Undergraduate Loans: Your variable interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 2.71% and 12.99%.  Fixed rate loans will not increase or decrease over the life of the loan and have an APR range between 3.53% and 14.50%. Rates reflect an Automatic Payment Discount of 0.25% on the lowest offered rate and a 2.00% discount on the highest offered rate. The following table shows a 48 month in-school period plus 9 months of grace prior to a full repayment term of either: 60-months (lowest fixed/variable rate), 144-months (highest fixed rate) or 180-months (highest variable rate) with examples of (i) Interest Only payments, (ii) $25 Minimum payments, and (iii) Deferred repayment options. (See Undergraduate Loan repayment examples.)
  2. Payments may be deferred. Subject to lender discretion, forbearance and/or deferment options may be available for borrowers who are encountering financial distress.
  3. Making interest only or partial interest payments while in school will not reduce the principal balance of the loan. There are three (3) flexible in-school repayment options that include fully deferred, interest only and $25 minimum repayment. (See Undergraduate Loan repayment examples.)
  4. Flexible repayment plans may be offered up to a fifteen (15) year repayment term for a variable rate loan and ten (10) year repayment term for a fixed rate loan. Students must be enrolled at least half-time at an eligible school. Minimum loan amount is $2,000.
  5. Interest rate reduction of either 0.25% (for Credit-Based Loans) or 2.00% (for Undergraduate Future Income-Based Loans) applies only when the borrower and/or cosigner sign up for automatic payments and the payment amount is successfully deducted from the designated bank account each month. The amount of the discount is dependent upon the loan product and credit history of the borrower at the time of application. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of in-school, deferment, grace or forbearance, unless a regular payment amount has been arranged with the servicer. If you have two (2) consecutive returned payments for Nonsufficient Funds, we may cancel your automatic debit enrollment and you will lose the interest rate reduction. You will then need to re-qualify and re-enroll in automatic debit payments to receive the interest rate reduction.(See Automatic Payment Discount Terms & Conditions.)
  6. All applicants (individual and cosigner) are required to complete a brief online financial literacy course as part of the application process to be eligible for funding.
  7. Eligibility, loan amount and other loan terms are dependent on several factors, which may include: loan product, other financial aid, creditworthiness, school, program, graduation date, major, cost of attendance and other factors. Aggregate loan limits may apply. The cost of attendance is determined and certified by the educational institution.
  8. The legal age for entering into contracts is eighteen (18) years of age in every state except Alabama where it is nineteen (19) years old, Nebraska where it is nineteen (19) years old (only for wards of the state), and Mississippi and Puerto Rico where it is twenty-one (21) years old.
  9. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. In order to be eligible for the 1% Cash Back Graduation Reward, borrower must meet the following criteria after graduation:
    • The student borrower has graduated from the degree program that the loan was used to fund.
    • The student borrower may change majors and/or transfer to a different school, but must obtain the same level of degree (e.g. – undergraduate or graduate)
    • The graduation date is more than 90 days and less than five (5) years after the date of the loan’s first disbursement.
    • Any loan that the student has borrowed under the Ascent loan is not more than 30-days delinquent or in a default status as of the graduation date and until any Graduation Reward is paid.
  10. Students can apply to release their cosigner and continue with the loan in only their name after making the first 24 consecutive regularly scheduled full principal and interest payments on-time and meeting the other eligibility criteria to qualify for the loan without a cosigner.

* Application times vary depending on the applicant’s ability to supply the necessary information for submission.


7 Important Disclosures for CommonBond.

CommonBond Disclosures

Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.17% effective Sep 1, 2020 and may increase after consummation.


Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.