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.
- 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
- 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
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.
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
Undergraduate and Graduate Loans:
- School certification is required
- Funds are disbursed to the school
- School verification may be required
- Funds are disbursed to the borrower
- 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
- Up to 3 years for active military duty and public service
- Up to 5 years for residency
- In the event of the primary borrower's death or permanent disability