Cover up to 100% of your school-certified college costs with our zero fee undergraduate loans.Apply Now
Our zero fee private student loans for students seeking undergraduate degrees complement federal student loans and other financial aid to help you pay for college. Applying online is quick and easy and our knowledgeable Student Loan Specialists are ready to help you 24/7.
2.99% APR - 9.12% APR
(3-Month LIBOR + 2.62% to 3-Month LIBOR + 8.74%)
6.15% APR - 11.99% APR
View APR ExamplesAPRs reflect interest rates as of July 8, 2015
No loan application fees. No origination fees. No late fees.
Get a one-time 1% cash reward on each new Discover student loan when you get at least a 3.0 GPA (or equivalent).
Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment.
Choose in-school or deferred repayment option and there is never a penalty for prepayment.
Apply from your computer, smartphone or other mobile device, or call us at 1-800-STUDENT.
Adding a creditworthy cosigner may improve your likelihood for loan approval and you may receive a lower interest rate.
Choose from a fixed or variable interest rate and an in-school or deferred repayment option to best fit your needs.
Sign your loan documents electronically and accept your loan terms.
To qualify, you must:
Private student loans are credit based. Students with no credit history or a low credit score may find it difficult to qualify for a private student loan on their own. Students always have the option to apply for a Discover student loan with a cosigner. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.
Doing your homework has its rewards. Get at least a 3.0 GPA (or equivalent) and receive a one-time 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). Reward redemption period is limited.
Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment. To enroll for automatic payments, complete the enrollment form online or call us at 1-800-STUDENT to request a copy of the enrollment form, complete it and mail it back to the address on the form.
If you are in school at least half-time, on active military duty, serving a public service organization or in a medical residency, you may qualify for a deferment. A deferment period is a period of time when a borrower is not required to make any payments. During deferment, interest will continue to accrue. At the end of a deferment period, any unpaid interest will be added to your principal balance. This may increase the amount of your monthly payments and the total cost of your loan(s).
A repayment period is the period of time during which scheduled payments are required to be made to repay the principal balance and interest on a loan. Your repayment period is 15 years after the deferment period ends.
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.
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 1-877-321-5017.