Frequently Asked Questions: Borrower Application

Below is a list of frequently asked questions. If you need to look up a term or acronym, use our glossary.

Loan eligibility is based on multiple factors. You have to meet general qualifications specific to the loan type you're applying for. In addition, you have to meet certain credit requirements. The credit decision is determined by your credit worthiness including your credit score. A cosigner may be required if you don't meet our credit requirements.

If you have already submitted an application, access your application using your Access Code (or login) and click on "Add Cosigner" to retrieve the Cosigner Key. The Cosigner Key is a code that links the cosigner with the correct student loan application. Give this code to your cosigner so they can start their application or ask your cosigner to call us at 1-800-STUDENT with the Cosigner Key to apply.

We can also send the Cosigner Key to your cosigner directly with instructions to start their application if you provide us their e-mail address. Access your application using your Access Code (or login) and click on "Add Cosigner" to provide us your cosigner's e-mail address.

Our credit decision is based on your credit history and other factors. We need to pull your credit to determine if you are eligible.

Our credit decision and interest rate is determined by multiple factors, not just your credit score. It is important that you know how to establish and maintain good credit. You could save even more by taking advantage of these money-saving rewards on your student loans.

You may still qualify for a private student loan if you attended at least half-time the previous academic term.

Yes, as long as we have a lending relationship with your school and your school's main campus is based in the US.

Yes, you can apply for a Discover Student Loan with a creditworthy cosigner who is a US Citizen or a Permanent Resident.

You can find information about obtaining an SSN at If you don't have an SSN, you can apply for Discover Student Loan if you have a cosigner who is a US Citizen or a Permanent Resident.

We contact your school to verify if you are eligible for your requested loan amount and to get the disbursement dates. This ensures that the funds arrive on time and you do not borrow more than what you need.

It means we are waiting for your school to confirm your eligibility and your requested loan amount. After we receive the certification from your school, we will send you a final disclosure.

School certification timeframes vary by school but typically take 3-5 weeks to process. Once your school certifies your loan they will schedule the disbursement date(s) and disbursement amount(s).

Your school certifies the amount you qualify for to ensure you do not borrow more than you need. If you think your school certified a lower amount in error, please speak to your financial aid office. If needed, you can take out another loan application for the additional funds.

The best thing to do is talk to your financial aid office. They will be able to give you more information about scholarships and other financial aid options available to you. You can also learn about more financial aid options.

Your school sets the disbursement date based on when you need the funds. If you need funds sooner than this you can talk to your school's financial aid office. They may be able to adjust the disbursement dates.

Your first $25 payment will be due the month following your first disbursement. You will receive a notice with the payment due date.