Discover Student Loans – Find Your Perfect Option

While Discover is no longer accepting new applications for student loans (applications submitted before February 1st, 2024 are still being processed), this guide will provide a comprehensive overview of their program in case it becomes available again in the future, or to help you manage existing Discover student loans.

Discover Student Loans

Financing your education is a crucial step towards a brighter future. Discover Student Loans are a popular option, but are they the right choice for you? This in-depth guide delves into everything you need to know about Discover student loans, from eligibility and application details to repayment options and competitor comparisons.

Benefits of Discover Student Loans

  • Competitive Rates: Discover boasts competitive interest rates, potentially lower than some private lenders. However, rates can vary based on your creditworthiness. ([Insert Link to Discover Student Loan Rates])
  • Flexible Repayment Options: Discover offers various repayment plans to fit your budget, including in-school deferment and income-driven repayment options.
  • No Application or Origination Fees: Discover doesn’t charge application or origination fees, saving you money upfront.
  • Valuable Rewards Programs: (Check Discover’s website for current offers) Discover may offer rewards programs for good grades or automatic payments, incentivizing responsible borrowing.

What Were Discover Student Loan?

Discover offered private student loans to undergraduate and graduate students enrolled at least half-time in a degree-granting program at an eligible school. They were known for:

  • Covering up to 100% of school-certified costs (minus other financial aid).
  • Having no application, origination, or late fees.
  • Offering cash back rewards for good grades and an interest rate reduction for automatic payments.
  • Providing US-based loan specialists for customer support.

Why Did Discover Stop Offering Student Loan?

Discover hasn’t publicly announced the reason for stopping their student loan program. They may be focusing on other areas of their business or making changes to their lending strategy.

What Should I Do If I Have Existing Discover Student Loans?

If you currently have Discover student loans, you can still manage your account online by logging in to Discover Student Loans account management: Here you can:

  • Track your loan balance and payment history.
  • Make payments.
  • Access important documents and communications.
  • Contact customer service if you have any questions.

What Are My Options Besides Discover Student Loans?

Many other lenders are offering private student loans. It’s important to shop around and compare rates and terms before choosing a lender. Here are some resources to help you find other options:

  • Federal Student Aid: [Federal Student Aid (.gov)] offers information on federal student loans, which are generally the best option due to lower interest rates and better repayment terms.
  • LendingTree: [LendingTree student loans ON] is a marketplace where you can compare private student loan offers from multiple lenders.
  • NerdWallet: [NerdWallet student loans ON] provides reviews and comparisons of private student loan lenders.

FAQs About

Can I still apply for a Discover student loan?

No, Discover is not accepting new applications at this time.

How do I manage my existing Discover student loan?

Log in to your account on the Discover Student Loan website (Discover Student Loan account management:

What are my repayment options for my Discover student loan?

You can find information about your repayment options by logging into your account or contacting Discover customer service.

What if I’m struggling to repay my Discover student loan?

Discover may offer hardship programs or deferment options. Contact them directly to discuss your situation.

What are my other options for student loans?

Explore federal student loans and compare private lenders using resources like [Federal Student Aid (.gov)], [LendingTree student loans ON], and [NerdWallet student loans ON].


By carefully considering your options and exploring Discover student loans in detail, you can make an informed decision about financing your education. Good luck on your academic journey!