Discover is no longer accepting new student loan applications.
Applications received on or before January 31, 2024, 11:59 pm CT will be processed as usual.

Discover Student Loans
Discover Student Loans

Student loans for college students

Get good grades. Get paid. Get a cash reward for good grades on each new student loan.1

Why choose Discover® Student Loans?

Up to 100% Covered

Up to 100% Covered

Up to 100% of school-certified college costs are covered. Aggregate loan limits apply.

Zero Fees

Zero Fees

That means no application, origination, or late fees.

Valuable Rewards

Valuable Rewards

Get cash rewards for good grades. Plus a 0.25% rate reduction when you're enrolled in automatic payments.

U.S.Based Loan

US-Based Loan Specialist

All of our Student Loan Specialists are US-based. We're here anytime day or night to help you.

See how we compare

Discover® Sallie Mae Citizens Bank
Celebrates hard work with a cash reward for good grades1 yes no no
Zero fees yes no no
Customize your student loan with rate and repayment options yes yes yes
Offers a free search tool to find scholarships yes yes no

Comparisons based on information obtained on lenders' websites or from customer service representatives and are based on student loans where students are the primary borrower as of January 2024.

Common student loans FAQ

We offer the following types of private student loans to help you cover up to 100% of tuition, housing, books, and more. Aggregate loan limits apply.

Discover is no longer accepting new student loan applications. Applications received on or before January 31, 2024, 11:59 pm CT will be processed as usual.


To qualify for an undergraduate or graduate private student loan, you must

  • Be enrolled at least half-time in a degree program at an eligible school.
  • Be seeking a degree.
  • Be making satisfactory academic progress as defined by your school. 
  • Be a US citizen, permanent resident, or international student (International students require a cosigner who is a US Citizen or permanent resident).
  • Be 16 years or older at the time you apply.
  • Pass a credit check.

Parent Loan eligibility requirements
Residency Loan eligibility requirements
Bar Exam Loan eligibility requirements
Consolidation Loan eligibility requirements

For undergraduate and graduate student loans and parent loans, you can borrow up to 100% of the school-certified cost of attendance (including tuition, housing, books, and more) minus other financial aid. Aggregate loan limits apply. The minimum amount is $1,000 for each loan. We certify and disburse student loan amounts through your school so you do not borrow more than needed.

Use this student loan calculator to estimate how much you may need to borrow.

Borrowing limits for Residency Loans
Borrowing limits for Bar Exam Loans
Borrowing limits for Consolidation Loans
Federal student loans are available through the US Department of Education, feature fixed interest rates, and offer several repayment options. Private student loans are education loans offered by banks or other lenders, are credit-based, and have fixed or variable interest rates.
A certified private student loan requires the school to verify the amount you are borrowing and tells the lender when to disburse the funds. This helps ensure you borrow only what is needed. Non-school-certified loans do not require the school to verify the amount you are borrowing. These loans typically have higher interest rates.
While you may apply on your own, most undergraduate students will need to apply with a creditworthy cosigner to meet our eligibility requirements, which include but are not limited to an established and satisfactory credit history. Even if you meet our requirements, you may still want to consider applying with a cosigner who has a stronger credit history and income to help you qualify for a lower interest rate.
We encourage you to borrow responsibly and maximize grants, scholarships, and other free financial aid before taking student loans. If you need to borrow, compare federal and private student loans and choose the loans that best fit your needs.

Student loan resources for students and parents

Compare Federal and Private Student Loans

  1. Students who get at least a 3.0 GPA (or equivalent) may qualify for a one-time cash reward of 1% of the loan amount on each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Visit for reward and redemption terms and conditions.

  2. The fixed interest rate is set at the time of application and does not change during the life of the loan unless you are no longer eligible for one or more discounts. The variable interest rate and corresponding APR may increase over the life of the loan. The variable interest rate is calculated based on the 3-Month CME Term SOFR index plus the applicable margin percentage less any applicable discounts. The 3-Month CME Term SOFR index value for variable interest rate loans is X as of X. 3-Month CME Term SOFR is administered by CME Group and is published by CME Group on its website ( Discover Student Loans may adjust the variable interest rate quarterly on each January 1, April 1, July 1, and October 1 (each an “interest rate change date”), based on the 3-Month CME Term SOFR rate available for the day that is 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125), or 0%, whichever is greater. This may cause the monthly payments to increase, the number of payments to increase, or both. If the 3-Month CME Term SOFR rate is less than zero percent, then the index will be deemed to be zero percent (as stated in the promissory note) for purposes of calculating your interest rate. Your variable interest rate (index + margin – applicable discounts) will not exceed 18%. Our lowest APRs are only available to applicants with the best credit. The APR will be determined after an application is submitted. It will be based on credit history, the selected repayment option, and other factors, including a cosigner’s credit history (if applicable). If a student does not have an established credit history, the student may find it difficult to qualify for a private student loan on their own or receive the lowest advertised rate. Learn more about Discover Student Loans interest rates.

Borrow responsibly. 1. Maximize grants, scholarships, and other free financial aid. 2. Compare federal and private student loans. 3. Choose the loans that best fit your needs.