Fifth Third Customers Now Have an Innovative Way to Pay for College Through Partnership with CommonBond
CINCINNATI–(BUSINESS WIRE)–It’s that time of year when college students and their families are looking at ways to help pay for school, and Fifth Third Bank has a solution. Through CommonBond, a leading financial technology company, Fifth Third Bank is offering its customers a new way to finance their education and save money on college loans.
Fifth Third has worked with CommonBond during the past year to offer its customers refinancing options for student loans. As the cost of college continues to grow, Fifth Third customers can fund higher education through CommonBond’s competitive rates, simple application, and award-winning customer care. While Fifth Third itself doesn’t finance college loans, it now will send customers to CommonBond to help finance college.
“Private student loans can play an important role in enabling access to higher education,” said Tom Bohache, head of education finance for Fifth Third Bancorp. “Fifth Third is proud to offer our customers an industry-leading product and experience with CommonBond.”
CommonBond finances and refinances student loans, and works with businesses to help their employees pay off student loans.
“We’re excited to continue our work with Fifth Third Bank and help Fifth Third families pay for college,” said Pete Wylie, VP of student lending at CommonBond. “CommonBond college loans offer more than just money. Borrowers get customer-friendly terms, personalized financial guidance, and can see their loan make a positive social impact through CommonBond’s Social Promise.”
For more information about private financing for student loans, visit 53.com/commonbond.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the parent company of Fifth Third Bank, an Ohio-chartered bank. As of March 31, 2019, Fifth Third had $168 billion in assets and operated 1,207 full-service banking centers and 2,559 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2019, had $394 billion in assets under care, of which it managed $44 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.
CommonBond is a financial technology company on a mission to give students and graduates more affordable, transparent, and simple ways to pay for higher education. The company offers new loans to current students, refinance loans to college graduates, and a suite of student loan repayment benefits to employees through its CommonBond for Business™ program. By designing a better student loan experience that combines advanced technology with competitive rates and award-winning customer service, CommonBond has funded $2.5 billion in loans for its tens of thousands of members. CommonBond is also the first and only finance company with a “one-for-one” social mission: for every loan it funds, CommonBond also funds the education of a child in need, through its partnership with Pencils of Promise. For more information, visit www.commonbond.co.
Laura Trujillo (Media Relations)
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Chris Doll (Investor Relations)
Christopher.Doll@53.com | 513-534-2345