Discover Student Loans Review
ConsumersAdvocate.org Rating: 9.3 / 10 (Excellent)
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How is Discover rated?
Overall Rating: 9.3 / 10 (Excellent)
Discover Loan Specifics
Loan Specifics - 9 / 10
Discover offers loan amounts of as little as $1,000, yet eligible applicants can obtain up to 100% of their school-certified cost of attendance. It also advertises 0 loan fees, which means its borrowers don't have to cover loan application, origination, or late fees. Another service feature that sets the company apart from the competition is its flexible repayment options, which include deferred payments, low in-school fixed payments, and alternatives for those struggling with financial hardship.
|Minimum Loan Amount|
|Maximum Loan Amount|
Each year, you can borrow up to 100% of your school-certified cost of attendance (including tuition, housing, books and more) minus other financial aid. Aggregate loan limits apply.
Loan terms with Discover can vary, yet the company states loan repayment periods can span 10 or 20 years and are based on the borrower's creditworthiness.
|Fixed APR Range|
6.49% APR - 11.99%APR for Undergraduate Student Loans 6.49% APR - 12.99% APR for Graduate Student Loans
|Variable APR Range|
4.99% APR - 11.24% APR for Undergraduate Student Loans 4.99% APR - 12.49% APR for Graduate Student Loans
|Deferment or Forbearance|
Qualifications - 10 / 10
Permanent Legal Resident
Non-U.S. Citizen with a Cosigner
Discover Customer Experience
Customer Experience - 9 / 10
Discover advertises a simplified student loan and loan consolidation process. The prospective borrower can apply online in as little as 15 minutes by providing their basic information including their Social Security Number as well as their school and financial information, and then selecting a type of interest rate and repayment option.
|Student Loan Calculator|
24/7 Customer Support
Get at least a 3.0 GPA (or equivalent) and receive a one-time cash reward of 1% of the loan amount of each new Discover student loan<br /><br /> Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment.
Discover Company Reputation
Company Reputation - 9 / 10
|Number of BBB Positive Reviews|
|Number of BBB Negative Reviews|
|Trust Pilot Rating|
8.4 out of 10