Discover Student Loans: See how to apply

Learn how to apply for Discover student loans, and you may earn cash rewards for good grades!

How about having an easier time navigating your academic journey? Wouldn’t it be great to only focus on your studies? With Discover student loans, you can enjoy these advantages.

If you’re not familiar with them yet, let’s take a brief look at Discover student loans.

Understanding Discover Student Loans

Discover student loans are an excellent alternative for those looking to finance their studies.

Before we delve into this option, let’s understand what student loans are and how they work.

A student loan is a financial tool designed to assist students in covering their undergraduate or graduate studies.

With the costs associated with higher education, such as tuition, books, and housing, being substantial, many students and their families face financial challenges.

Student loans allow students to borrow money to fund their studies and agree to repay the borrowed amount, usually with interest, after completing their studies.

Private loans, like those offered by Discover, are an option for students needing additional funding beyond federal loans.

While they often have higher interest rates, they can be a viable solution for many students.

When considering Discover for your financing, you’ll have access to a range of advantages.

Discover student loans offer low and competitive interest rates, ranging from 5.24% APR to 15.99% APR for fixed rates, and from 6.49% APR to 17.37% APR for variable rates.

Additionally, the company offers rewards for students with good academic performance, coverage of up to 100% of study period costs, and special discounts for those opting for autopay.

Discover is recognized for its transparency, customer dedication, and integrity.

With a history of commitment to providing accessible and secure financial solutions, Discover prioritizes clarity at every step, from application to customer service.

By choosing Discover, you can trust a financial institution committed to helping you achieve your educational goals with confidence and peace of mind.

Prerequisites

To apply for Discover student loans, you need to meet the following criteria:

• Be a US citizen, permanent resident, or international student (International students require a cosigner who is a US Citizen or permanent resident).
• Pass a credit check.
• Be enrolled at least half-time in a degree program at an eligible school.
• Be seeking a degree.
• Be making satisfactory academic progress as defined by your school.
• Be 16 years or older at the time you apply.

Once you’re sure you meet Discover’s prerequisites, and keeping in mind that these requirements may vary depending on the type of loan, you can proceed with the online application.

Online Application

With a device with internet access, visit Discover’s official website and navigate to the “Student loans” tab and then “Apply now.”

You’ll need to provide some information for the company to better understand its client.

The information varies from personal information, information about the cosigner, information about the school, and documents to verify the information.

Once you’ve provided the information, you can pre-analyze your contract, customize the terms and repayment. After that, simply proceed with the loan and await approval!

Just be cautious

As mentioned earlier, all transactions involving money require a lot of responsibility.

Keep in mind the need to choose your payments wisely and make timely payments to avoid complications.

Written by

Victória Lima

Victória Lima is a financial writer and researcher. With a background in finance, Victória distills complex financial topics into accessible insights. Through her writing, she aims to equip readers with the tools they need to make informed financial decisions and achieve their goals.