MassMutual Pairs with CommonBond on Student Loan Refinancing Program

MassMutual has partnered with CommonBond to offer a new student loan refinancing program with a rate advantage. The program is becoming available on a rolling basis in local communities across the U.S. through MassMutual’s network of financial advisers, currently 9,000 strong.

MassMutual notes that student loan debt in the U.S. is now over $1.5 trillion, which prevents many people from saving for the future. Many MassMutual financial advisers work with clients who have student loan debt on a daily basis, and now with this program, they can engage in a broader discussion and set of strategies to help them save and pay for what’s important in their lives.

“Paying off student debt is often the first significant financial obligation for millions of Americans to achieve their goals in life,” says John Vaccaro, head of MassMutual Financial Advisors and the father of two Gen Zers. “With this program and through our broader offerings, younger generations have access to tools they need to reduce student debt and get on the path to a sound financial future. As an example, reallocating even $100 a month from the time you graduate college to the time you retire can lead to six-figure savings.”

Through a seamless borrowing experience and options for lower monthly payments and lower interest rates, CommonBond opens the door for individuals with student loan debt to achieve other financial objectives. This new program enables people to potentially pay off their loans faster and save thousands of dollars in interest. And, when someone refinances, CommonBond funds the education of a student in the developing world through its “Social Promise.”