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What are my private student loan options?

Discover® Student Loans

We can help you cover 100% of school-certified college costs. Aggregate loan limits apply. Apply today!

Discover Undergraduate Loan

This private student loan is for undergraduate students in Associate of Bachelor's degree programs at eligible schools and can cover up to 100% of your school-certified costs (including tuition, housing, books and more). Aggregate loan limits apply.

Benefits

  • Choice of great fixed or variable interest rates.
  • Variable rates: 1.24% - 10.99% APR3 (lowest APRs shown for Discover Student Loans are available for the most creditworthy applicants for undergraduate loans, and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments)
  • Count on $0 fees, including application, origination or late fees.
  • You 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, you can also choose to defer payments, meaning that monthly payments are not required until after the grace period or enrollment drops below half-time.
  • Get a one-time cash reward for each new Discover undergraduate and graduate student loan when you get at least a 3.0 GPA (or equivalent). Reward redemption period is limited.2
  • 6-month grace period.
  • By adding a cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.

Services

  • Applying online is quick and easy and our knowledgeable, US-based Student Loan Specialists are ready to help you anytime 24/7. Tools and information at DiscoverStudentLoans.com can help students and parents through each step of the process — from exploring financial aid to repaying student loans.

We encourage you to borrow responsibly and maximize grants, scholarships and other free financial aid before taking student loans. If you need to borrow, compare federal and private student loans to find a loan that best fits your needs.

Eligibility

  • Be enrolled at least half-time in a Bachelor's or Associate's degree 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.

Apply for a Discover Private Student Loan

Discover Graduate Loan

This private student loan is for graduate students, including masters and doctoral degree candidates, and can cover up to 100% of your school-certified costs (including tuition, housing, books and more). Aggregate loan limits apply.

 Benefits

  • Choice of great fixed or variable interest rates.
  • Count on $0 fees, including application, origination or late fees.
  • You 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, you can also choose to defer payments, meaning that monthly payments are not required until after the grace period or enrollment drops below half-time.
  • Get a one-time cash reward of 1% of the loan amount of each new Discover graduate student loan when you get at least a 3.0 GPA (or equivalent) Reward redemption period is limited.2
  • 0.25% interest rate reduction while enrolled in automatic payments.
  • 9-month grace period.
  • By adding a cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.

Services

  • Applying online is quick and easy and our knowledgeable, US-based Student Loan Specialists are ready to help you anytime 24/7. Tools and information at DiscoverStudentLoans.com can help students and parents through each step of the process — from exploring financial aid to repaying student loans.

We encourage you to borrow responsibly and maximize grants, scholarships and other free financial aid before taking student loans. If you need to borrow, compare federal and private student loans to find a loan that best fits your needs.

Eligibility

  • Be enrolled at least half-time in a graduate 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.

Apply for a Discover Private Student Loan


Disclaimers 

1Aggregate loan limits apply.

2Students who get at least a 3.0 GPA (or equivalent) qualify for a one-time cash reward on each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Terms and Conditions Apply.

3Lowest APRs shown for Discover Student Loans are available for the most creditworthy applicants for undergraduate loans, and include an interest-only repayment discount and Auto Debit Reward. The interest rate ranges represent the lowest and highest interest rates offered on Discover student loans for Undergraduate Loans. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. For variable interest rate loans, the 3-Month LIBOR is 0.375% as of July 1, 2020. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Our lowest APR is only available to customers with the best credit and other factors. Your APR will be determined after you apply. It will be based on your credit history, which repayment option you choose and other factors, including your cosigner’s credit history (if applicable). Learn more about Discover Student Loans interest rates.

What are my private student loan options?