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

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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
  • Zero fees
  • Doing homework has its rewards. If a student gets at least a 3.0 GPA (or equivalent), they can receive a cash reward of 1% of the loan amount of each new Discover student loan (applicable for eligible loan applications submitted on or after May 1, 2014).
  • 0.25% Auto Debit Reward
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 cosigner who is a US Citizen or permanent resident)
  • 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
  • Optional in-school deferment while enrolled at least half-time, unless the student elects, during the application process, to make $25 in-school fixed payments.
  • 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



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