Students are able to manage their loan accounts online using the Discover Student Loans Login website. If you are already a user, you will be given instructions on how to access the system and pay your loans. If you are a first-time user, you will learn how to create a Student Loans online account so that you can track and view your student loan. This page will contain details about how to log in, payment rules, and customer service.
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Overview of Discover Student Loans
Since 2010, Discover Bank, a firm with over a century of experience, has made private student loans available to students enrolled in over 2,400 colleges and universities. There are loans available with fixed or variable interest rates that can cover the total cost of college.
Discover is one of the leading American credit card companies. Discover offers a vast array of extra financial alternatives, including as student loans for undergraduate, graduate, MBA, health professions, law, residency, and bar test students.
Depending on your program, you can borrow up to the total cost of attendance with a Discover card if you need financial aid to complete your degree.
Additionally, the lender requires forbearance alternatives, which are uncommon for private lenders, as well as incentives for achieving good grades and finishing the selected program. Discover is not necessarily the best option for all borrowers, however, because of its stringent payback requirements.
With the majority of discover’s student loans, you are provided a loan payment due date or a grace period during which no monthly payments are required. Depending on the type of loan you have, payments may not become due until six to nine months after you graduate or if your enrollment status drops below half-time.
And What Happens If You Pay Less Than the Minimum Payment?
In addition to a monthly late fee and possible penalty APRs, you will be assessed a monthly late fee for every month that you make a payment that is less than the minimum amount due. When your loan servicer detects the late payments and reports them to the credit bureaus, your credit score will gradually collapse.
Discover Students Login
Listed below are three processes for student loan login:
- Student Loans can be found at https://studentloans.discover.com/MFA/EnterUsername.aspx
- A login identifier and password are required.
- Select “Login” from the drop-down menu.
Discover Students Loans The use of a debit card to pay for a Discover credit card is not permitted. However, you can pay with a credit card with an electronic transfer from the bank account linked to a debit card.
Some Benefits Of Timber Harvesting
Numerous benefits are associated with discovering credit card login.
- Loans beginning at $1,000 are available to help families bridge the gap between financial aid and individual school expenses.
- Cosignatures are permitted. Frequently, parents or grandparents elect to cosign student loans, which may qualify them for a lower interest rate.
- Discover does not charge any origination, app, or late fees.
- You may be eligible for a lower interest rate if you set up automatic payments. If you choose to pay interest alone, you may be eligible for a rate reduction.
- If borrowers maintain a 3.0 GPA (or equivalent) or above for any academic term for which the loan is taken out, they are eligible for a one-time cash-back incentive on every new Discover undergraduate and graduate student loan. There is a time limit on the period for prize redemption.
- Over 92% of all outstanding student loans in the United States are held by the federal government. Approximately 43 million borrowers are currently accountable for the federal student loan portfolio in excess of $1.6 trillion.
Forgot Your User ID Or Password?
- On the sign-in screen, users select either the user ID or passcode buttons.
- Please provide your last name, social security number, and date of birth to proceed.
- To complete the lost ID name and code form, click continue.
Discover Student Loans Types
It may be difficult to qualify for federal student loan forgiveness, and private student loans from Sallie Mae are not eligible. However, refinancing is one of the debt repayment options. Discover offers an assortment of student loan programs. In this section, we will provide a brief overview of each and highlight some of their main characteristics.
Discover Undergraduate Loan:
An undergraduate loan is an excellent option if you need a minor supplement to your existing federal loans. If your credit score is sufficient, you will not require a cosigner and there will be no extra fees, just as with any other student loan terms. You are not forced to repay the loan while you are still in school, but you may if you like by making a $25 monthly payment.
- Fixed APR: 4.49 to 12.39 percent
- APR range: 1.24 percent to 10.99 percent
- Loans of up to $1,000, based on the total cost of attendance
- 15-year loan duration
- 6 months of leeway
- Discover does not disclose the minimum required credit score. All loan requests are either approved or denied.
Graduate Loan:
This loan mostly benefits students enrolling in professional medical schools, law schools, and the majority of Ph.D. programs. It can cover up to 100 percent of your college expenses. These loans include a nine-month grace period and a slightly higher APR than Undergraduate loans. A strong credit card history is often required to qualify for this loan, even though a cosigner is not necessary.
- Range of fixed APR: 4.99 to 12.39 percent
- Variable APR range: 1.99% to 11.33%
- Loans of up to $1,000 depending on the cost of attendance
- Length of loan: 20 years and nine months
- Discover does not make the needed credit score public. All loan applications are either approved or rejected.
MBA Loan:
Even if we are uncertain as to whether this is the greatest private student loan on the market, it is unquestionably one of the quickest. Due to its online application and 15-minute approval time, this student loan is among the most advantageous available. This loan has favorable repayment conditions and no fees; only MBA and business school students are eligible.
- Fixed-rate APR range: 4.49 to 10.59 percent
- Variable APR ranges from 2.24 percent to 9.99 percent.
- Loans of up to $1,000 depending on the cost of attendance
- Loan tenure of 20 years
- Minimum credit score: As with other student loans, your credit card history is checked during the application process.
Law School Loan
As the name suggests, these loans are created for many law school students and can help them cover up to 100 percent of their tuition expenses. They differ from related products in that the interest rates and repayment plans are customizable. It is understandable why this function is consistently commended in Discover student loan reviews.
- Fixed-rate APR range: 4.49 to 8.99 percent
- The variable APR ranges from 1.99% to 8.50%.
- Loans of up to $1,000 depending on the cost of attendance
- Loan tenure of 20 years
- Six to a nine-month grace period
- Discover does not make the needed card score public. All requests for loans are either approved or declined.
Loan for Medical School:
The Med school loan, one of the most well-known private student loans, is designed for graduate students pursuing degrees in the medical professions. You are not required to pay an application fee for these Discover student loans. There are no prepayment penalties, origination fees, or late fees.
- Range of fixed APR: 4.49 to 7.74 percent
- APR is between 1.99 and 6.99 percent.
- Loans of up to $1,000 depending on the cost of attendance
- Loan tenure of 20 years
- Six to the nine-month grace period
- Discover does not make the needed credit score public. All loan applications are either approved or rejected.
Discover Residency Loan
Loans for residents are intended for medical school graduates who are beginning residency programs in hospitals. These loans can be used to cover both basic living expenses and moving charges for the duration of their stay. The maximum loan amount will be determined by the topic of study and the 20-year loan repayment duration.
- Between 6.24 and 7.99 percent fixed APR
- Variable APR, 5.24 to 7.34 percent
- from $5,000 and $18,000 in total.
- Loan tenure of 20 years
- Six to nine-month grace period (possible deferment of payments up to 5 years)
Discover does not make the needed card score public. All loan applications are either approved or rejected.
Bar Exam Loan:
The curriculum was built especially with recent law school graduates’ bar exam preparation in mind. These loans are intended to assist with living expenses and test preparation costs. A cosigner is not always necessary for student loans, but the vast majority of recent law school graduates will end up needing one.
- 6.99 to 12.49 percent fixed APR 6.24 to 11.74 percent variable APR
- Maximum loan amount: $18,000 with a 20-year term
- In addition, the grace period lasts six months following graduation.
- No required credit score is generated.
Customer Support
Sign in and send us a secure message if you have specific questions about your account or application.
- Fax: 1-224-813-5195
- Student Loans Customer Service, Application Documents, P.O. Box 30947 Salt Lake City, Utah 84130-0947 Telephone: 1-844-337-4645