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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

  • Each year, students can borrow up to 100% of their school-certified cost of attendance (including tuition, housing, books and more) minus other financial aid. Aggregate loan limits apply.
  • Choice of fixed or variable interest rate.
  • No fees. No application, origination or late fees.
  • Apply in minutes.
  • Good grades. Cash reward. Earn at least a 3.0 GPA (or equivalent) and get a one-time cash reward on each new Discover undergraduate and graduate student loan.1

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 Requirements

To qualify, the borrower must:

  • Be at least 16 years old at the time of loan application. Cosigner required if under 18.
  • Be a US Citizen, permanent resident or international student (International students require a creditworthy cosigner who is a US Citizen or permanent resident).
  • Pass a credit check.
  • Be enrolled at least half-time and making satisfactory academic progress in a Bachelor’s or Associate’s degree program at an eligible school.

Students may have the option to apply for a Discover student loan with a creditworthy cosigner. Applying with a creditworthy cosigner may improve the likelihood for loan approval and may provide a lower interest rate.

To qualify, the cosigner must:

  • Be at least 18 years old at the time of loan application.
  • Be a US Citizen or permanent resident.
  • Pass a credit check.

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

  • Each year, students can borrow up to 100% of their school-certified cost of attendance (including tuition, housing, books and more) minus other financial aid. Aggregate loan limits apply.
  • Choice of fixed or variable interest rate.
  • No fees. No application, origination or late fees.
  • Apply in minutes.
  • Good grades. Cash reward. Earn at least a 3.0 GPA (or equivalent) and get a one-time cash reward on each new Discover undergraduate and graduate student loan.1

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 Requirements

To qualify, the borrower must:

  • Be at least 16 years old at the time of loan application. Cosigner required if under 18.
  • Be a US Citizen, permanent resident or international student (International students require a creditworthy cosigner who is a US Citizen or permanent resident).
  • Pass a credit check.
  • Be enrolled at least half-time and making satisfactory academic progress in a graduate degree program.

Students may have the option to apply for a Discover student loan with a creditworthy cosigner. Applying with a creditworthy cosigner may improve the likelihood for loan approval and may provide a lower interest rate.

To qualify, the cosigner must:

  • Be at least 18 years old at the time of loan application.
  • Be a US Citizen or permanent resident.
  • Pass a credit check.

Apply for a Discover Private Student Loan

Recommendation
Best for Private Undergraduate and Graduate Loans
Interest Rates

Variable: 1.29% APR - 11.99% APR2

Fixed: 3.99% APR - 12.99% APR2

Repayment Terms

15-Year (undergraduate) repayment term; 20-Year (graduate) repayment term


Disclaimers

1Students who get at least a 3.0 GPA (or equivalent) may qualify for a one-time cash reward of 1% of the loan amount on each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Visit DiscoverStudentLoans.com/Reward for reward and redemption terms and conditions.

2APR ranges vary by loan type and the lowest available APR may be higher than what is shown here.  Lowest APRs are available to the most creditworthy applicants, and include an interest-only repayment discount and Auto Debit Reward

3The fixed interest rate is set at the time of application and does not change during the life of the loan unless you are no longer eligible for one or more discounts. The variable interest rate is calculated based on the 3-Month CME Term SOFR index plus the applicable margin percentage less any applicable discounts. The 3- Month CME Term SOFR index value for variable interest rate loans is 0.125% as of November 14, 2021. 3-Month CME Term SOFR is administered by CME Group and is published by CME Group on its website (cmegroup.com/termsofr). Discover Student Loans may adjust the variable interest rate quarterly on each January 1, April 1, July 1 and October 1 (each an “interest rate change date”), based on the 3-Month CME Term SOFR rate available for the day that is 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125), or 0%, whichever is greater. This may cause the monthly payments to increase, the number of payments to increase or both. If the 3-Month CME Term SOFR rate is less than zero percent, then the index will be deemed to be zero percent (as stated in the promissory note) for purposes of calculating your interest rate. Your variable interest rate (index + margin – applicable discounts) will not exceed 18%. Our lowest APRs are only available to applicants with the best credit. The APR will be determined after an application is submitted. It will be based on credit history, the selected repayment option and other factors, including a cosigner’s credit history (if applicable). If a student does not have an established credit history, the student may find it difficult to qualify for a private student loan on their own or receive the lowest advertised rate. Learn more about Discover Student Loans interest rates.