Cover up to 100% of your school-certified college tuition, housing, books and more.

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Discover Undergraduate Loans

These private student loans complement federal student loans and other financial aid to help you pay for college. Applying online is easy and our knowledgeable Student Loan Specialists are ready 24/7 to help you every step of the way.

Great Features and Benefits

Simple Process

  • Apply online or over the phone in just a few minutes.
  • Consider adding a cosigner.
  • Sign your loan documents online or mail them to us.
  • Accept your loan terms.
  • You're done!
  • Each year, you can borrow up to 100% of your cost of attendance minus other financial aid.
  • The minimum amount is $1,000 for each loan.
  • We certify and disburse loan amounts through your school.
  • Variable interest rates from 3-Month LIBOR + 2.99% to 3-Month LIBOR + 8.49% (starting rates currently range from 3.37% APR to 8.87% APR)
  • Fixed rates ranging from 5.99% APR to 11.24% APR
  • Zero fees
View APR examples
Doing your homework has its rewards. Get at least a 3.0 GPA (or equivalent) and 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.)
To qualify, you must:
  • Be enrolled at least half-time in a 4- or 5-year undergraduate program at an eligible school.
  • Be seeking a degree.
  • 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 16 years or older at the time you apply.
  • Pass a credit check.
Whether or not you will need a cosigner depends on your credit evaluation. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.
All loans get a 0.25% interest rate reduction with our Auto Debit Reward when you enroll for automatic debit payments during repayment.
  • The repayment period is 15 years after the deferment period ends.
  • You can elect, during the application process, to make $25 fixed, monthly payments while you are in-school and during your grace period to lower your overall loan cost.
  • You can choose to have your payments deferred, which means no payments are due until 6 months after you graduate or your enrollment drops below half-time.
  • You can make payments anytime to help reduce the overall cost of your loan and there is never a penalty for prepaying. If you're not receiving monthly billing statements, we will send you quarterly statements showing you how much interest is accruing and how to make optional payments while you are in school.
In addition to optional in-school deferment while you are enrolled in school at least half-time, you can defer payments while:
  • On active military duty (up to 3 years).
  • In public service with certain organizations (up to 3 years).
  • In a health professions residency program (up to 5 years).
Learn more
If you are experiencing financial difficulties and you are unable to make your student loan payments, we have options to help. To learn more and determine if you qualify, please call our Repayment Assistance Department at .

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