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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
Fees
  • Zero fees
Benefits
  • 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
  • Students have the option to make either interest-only or $25 fixed, monthly payments while in school and during the grace period to lower the overall loan cost. However, students can also choose to defer payments, meaning that monthly payments are not required until after the grace period or enrollment drops below 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:

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