Student loans with great rates

Get good grades. Get paid. Now freshmen can get a student loan with even more rewards for good grades1.

Why choose Discover Student Loans?

Up to 100% Covered

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

Zero Fees

Zero Fees

That includes 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 loan with rate and repayment options yes yes yes
Offers a free search tool to find scholarships yes yes no
Apply in minutes yes yes yes
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 May 2021.

Student loan resources for students and parents

Compare Federal and Private Student Loans

Discover Student Loans believes in responsible borrowing and encourages students to maximize scholarships, grants and other free financial aid before taking private loans. For students who need to borrow, we advise them to compare federal and private student loans to find the loans that best fit their needs.

  1. Students who get at least a 3.0 GPA (or equivalent) may qualify for a one-time cash reward on each new Discover undergraduate and graduate student loan. Plus, undergraduate freshman borrowers who received at least a 3.0 GPA (or equivalent) during high school may qualify for an additional cash reward on their first undergraduate student loan. Limitations apply. See Terms and Conditions for complete details.

  2. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. For variable interest rate loans, the 3-Month LIBOR is X as of X. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. 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.