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Jill on Money with Jill Schlesinger

Simpler, Smarter Student Loans

Jill on Money with Jill Schlesinger

Audacy

Investing, Self-improvement, Education, Business

4.61.9K Ratings

🗓️ 25 April 2019

⏱️ 34 minutes

🧾️ Download transcript

Summary

On the latest episode we’ve got David Klein and Kelly Peeler from CommonBond, a company that positions itself as a place for simpler, smarter student loans for a brighter future.

While taking out loans for business school, co-founder David found himself asking a lot of questions: Why is the process so confusing? Why is the customer service so bad? Why are the interest rates so high? Isn’t there a better way for people to borrow for school?

Turns out he wasn’t alone as figures now show that students in the U.S. are struggling to pay down over $1.5 trillion in debt.

CommonBond was founded in 2012 to help relieve that burden, and since then have funded over $2.5 billion in better student loans. Their approach is no big secret: lower rates, simpler options, and a world class experience, all built to support you throughout your student loan journey.

Kelly and David firmly believe that student loans should be for fulfilling your dreams, not emptying your bank account. They’re helping you get there by lowering the cost of school and simplifying the process with no more stressful applications or being treated like an account number.

Have a money question? Email me here.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

Click on a timestamp to play from that location

0:00.0

Hi, it's Jill Schlesinger. On today's episode, we are talking about borrowing for college.

0:09.5

Fundamentally, structurally speaking, the system is in fact broken and so the question then becomes

0:15.3

okay well what do you do about it I think there are a few different constituents that

0:19.1

really matter here one remains the federal government one is the private sector, and then the borrower themselves.

0:25.7

Welcome to the Jill on Money Podcast. We are presented by Marcus by Goldman Sachs.

0:31.1

Well, you know, it is coming up to a big deadline. The deadline

0:35.3

when families have to determine which college and more importantly, which

0:40.8

college's financial aid package is best for them. We've got two

0:46.6

fantastic guests. We've got David Klein and Kelly Peeler from Common Bond and they are going to help us navigate a treacherous

0:56.4

landscape where it's very difficult to determine what's a grant, what's a loan, what's subsidized, what's not, how much am I paying?

1:06.0

This is such an important topic for both the young folks who are listening, but also

1:10.4

their parents and grandparents.

1:12.5

So here is our deep dive into student loans

1:16.8

with Kelly Peeler and David Klein.

1:19.2

You're listening to Jill on Money with Jill Schlesinger.

1:24.0

Kelly Peeler back on the show.

1:27.0

Very exciting.

1:28.0

But now you've got a new title and you've got some big news for us, but you are here to talk about the college loan

1:36.7

financing prospect for all these families who are facing that is it a May 1st deadline essentially?

1:44.0

For most colleges yes so April 1st was was when kind of like yeah oh my goodness I got into

1:48.7

all my dream colleges that I wanted to and a lot of colleges because they want you to enroll will set

1:54.7

deadlines pretty early so they kind of only give you like around a month

...

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