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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

  • Variable rates: 1.12% - 10.22% APR2 (Lowest APRs shown for Discover undergraduate loans are available to the most creditworthy applicants, and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments)
  • Choice of fixed or variable interest rate
  • Students may have the option to apply with a creditworthy cosigner. Adding a cosigner may improve the likelihood for loan approval and a lower interest rate.
  • 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.
  • Payments can be made anytime to help reduce the overall cost of the loan and there is never a penalty for prepaying.

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

  • Choice of fixed or variable interest rate
  • Students may have the option to apply with a creditworthy cosigner. Adding a cosigner may improve the likelihood for loan approval and a lower interest rate.
  • 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.
  • Payments can be made anytime to help reduce the overall cost of the loan and there is never a penalty for prepaying.

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 Loans
Interest Rates

Variable: 1.12% APR - 11.87% APR2

Fixed: 3.49% APR - 12.59% APR2

Repayment Terms

See Terms


Disclaimers

1Get a cash reward on each new Discover undergraduate and graduate student loan when you earn at least a 3.0 GPA (or equivalent) in any academic period covered by the loan. Limitations Apply. Visit DiscoverStudentLoans.com/Reward for terms and conditions.

2The 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 0.125% as of October 1, 2021. 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 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.