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Discover Financial Student Loans

About Discover Financial Loans

Probably best known for their credit cards, Discover Financial has become one of the top student loan providers in the US in recent years. In addition to providing Stafford and PLUS loans, they also have Certified Private Loans for College Students.  Discover stands out from many of the other lenders by eliminating repayment, guarantor and origination fees. They have a fixed repayment term (15 years) that does not start until after you have completed your degree. Unfortunately, only 4 or 5 years degrees seekers are eligible for Discover Certified Private Loans for College Students.

Private Loan Name: Certified Loans for College Students

Loans for Which Students? Undergraduate and graduate students in four or five year degrees

Minimum/Maximum per Student: Up to Cost of Attendance less any other financial aid

Rates: (Varies depending on your credit history) As low as 3.25% APR

Loan Fees: None

Repayment Terms: 15 years, repayment starts after you finish school

Other Information: You can decrease your interest rate with Discover by signing up for auto-debit (automatically having your loan payments taken out of your checking account). Discover also brings its famous “cashback bonus” system over to student loans by offering a 2% graduation reward, based on your principal interest.

How to apply/Contact Information: Apply online
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