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CommonBond: The Warby Parker of Student Loans

  1. Globally, for every degree fully funded on the CommonBond platform, the company funds the education of a student in need for a full year. The company has partnered with the African School for Excellence, a self-sustaining network of independent secondary schools in South Africa, Ghana, and Kenya– to fulfill their “global Social Promise.”

  2. Locally, for every new city into which CommonBond brings their graduate school loan program, they are funding financial literacy programming in a local underserved community. The company has partnered with KIPP Charter Schools to make this a reality and launched their first financial literacy program at KIPP West Philadelphia to coincide with their launch at Wharton in Philadelphia.

  3. // Some have started referring to CommonBond as “the Warby Parker of student loans,” a moniker CommonBond wears humbly. “We’re huge fans of Warby Parker,” says Klein. “They have proven that business profit and social good are not mutually exclusive, but rather mutually reinforcing. What a gift they have given to companies that come after them.” In a word, CommonBond is making the student loan process more “human.” From its community building and Social Promise to its personal treatment of borrowers, CommonBond isn’t just giving student lending a facelift, it’s giving birth to a whole new way of doing things in education finance. With a stated goal of having as broad an impact as possible, Klein and his team are off to a great start.

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