MassMutual, CommonBond Offer Student Loan ReFi Plan: Portfolio Products
July 8, 2019 by Bernice Napach
Massachusetts Mutual Life Insurance Co. has teamed up with CommonBond to offer a new student loan refinancing program through MassMutual’s network of 9,000 financial advisors across the U.S.
Both undergraduate and graduate loans can be refinanced through this program, including federal, private, Parent Plus and previously consolidated loans. Borrowers can choose variable or fixed rates and length of loans.
Rates vary, depending on several factors including whether a borrower comes through MassMutual, their credit profile and term of the loan. Variable rates for a 10-year loan, for example, range between 3.67% APR with autopay to 6.55%, according to CommonBond.
Borrowers that refinance with private lenders cannot take advantage of federal government programs such as income-based repayment or public service loan forgiveness plans.
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