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