I should not have been a candidate for CommonBond
Hi There,
While I think your customer service, user experience, branding, etc. is great, I don't think I should have qualified to roll my loans over to CB. The forgiveness and income-based offerings of the federal government are really useful to someone like me with a huge debt load and not enough income to pay it back in shorter than a 20+ year horizon. It was too easy for me to qualify for CB, with you guys knowing what my income & expenses were, and very shortly after I had completed the rollover process to save the $14K advertised, I regretted my decision to say goodbye to the flexibility of the federal loans. I wish I had been required to speak with a customer service rep and for them to ask me whether I was sure I was prepared to say goodbye to that flexibility. I think that extra step would have given me the pause I should have taken before making this giant, irreversible decision.
I look forward to seeing what sort of offerings you might come up with for those that choose to work in less lucrative fields (e.g. sustainability) but financed expensive degrees (MBA).
Thanks,
Caroline