Student Loan Products

Your students can count on us to help pay for school.

Student Loan Products

Discover Student Loans can help your students cover up to 100% of school expenses not covered by their financial aid package.

Loan Products

  • Undergraduate
  • Graduate – Health Professions Loan
  • Graduate – Law Loan
  • Graduate – MBA Loan
  • Graduate – Other
  • Post-Graduate – Bar Exam Loan
  • Post-Graduate – Residency Loan

Interest Rate

  • Fixed interest rates as low as 6.74% APR
  • Variable interest rates as low as
    Prime Index + 0.00%
    (currently 3.25% APR)
  • Will never exceed 18%
  • View APR examples
  • The Annual Percentage Rate (APR) for a variable rate loan may increase during the life of the loan if the Prime Index increases. This may result in higher monthly payments, an increase in the number of scheduled payments or both.

Fees

  • Zero fees

Benefits

Annual Loan Limits

  • Up to the cost of attendance minus other aid (Bar Exam Loans: up to $16,000: Residency Loans: up to $18,000 for Allopathy, Dentistry, Optometry, Osteopathy, Pharmacy, Podiatry and Veterinary Medicine; up to $5,000 for Nursing, Occupational Therapy, Physical Therapy and Physician Assistant.
  • $1,000 minimum
  • Aggregate loan limits may apply

Student Eligibility

The student must:

  • Be enrolled at an eligible school
  • Be seeking a degree
  • Be enrolled at least half-time
  • Be making satisfactory academic progress as defined by your school
  • Be a US citizen, permanent resident, or international student (International students require a Social Security number and a cosigner)
  • Be 18 years or older (or 16 years or older with a cosigner) at the time of loan application
  • Pass a credit check

Additionally for Bar Exam Loans:

  • Have graduated within the past 6 months, or be enrolled in your final year of study in a graduate law degree program.

Additionally for Residency Loans:

  • Have graduated within the past 12 months, or be enrolled in your final year of study in a graduate health professions program.

Cosigner Eligibility

The cosigner must:

  • Be a US citizen or permanent resident
  • Be 18 years of age at the time of loan application
  • Pass a credit check

School Certification and Disbursement Undergraduate and Graduate Loans:

  • School certification is required
  • Funds are disbursed to the school

Post-Graduate Loans:

  • School verification may be required
  • Funds are disbursed to the borrower

Repayment Terms

  • Automatic in-school deferment while enrolled at least half-time
  • 6-month grace period and 15-year repayment period for undergraduate loans
  • 9-month grace period and 20-year repayment period for graduate and post-graduate loans

Additional Deferment

  • Up to 3 years for active military duty and public service
  • Up to 5 years for residency

Loan Forgiveness

  • In the event of the primary borrower's death or permanent disability

How Students Can Apply

Online: DiscoverStudentLoans.com

Phone: 1-877-728-3030

 
Close
Print