Discover Student Loans Review

Rating: 8.9 / 10 (Excellent)
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How is Discover rated?
Maximum Loan Limit
Repayment Options
Student Loan Rates
Loan Terms
Rewards and Discounts
Loan Related Fees

Discover offers multiple loan services that includes Home Equity Loans, Personal Loans, Student Loans, Banking, and Credit Cards. The bank processes student loans for Undergraduate, MBA, Graduate, Bar Exam, Law, Residency, and Health Professions.

Loan Service Category

Direct Loan Service

Student Loans Offered

  • Discover Undergraduate Loan
  • Discover Graduate Loan
  • Discover Residency Loan
  • Discover Health Profession Loan
  • Discover Law Loan
  • Discover MBA Loan
  • Discover Bar Exam Loan

Services and Features

Discover has a good list of student loan options. It gives 1% cash rewards on each student loan for students who receives a 3.0 GPA or higher. The company also covers up to 100% of school-certified costs do not charge borrowers of any fees such as application, origination, and late fees.

A convenient online loan application is provided for borrowers with accurate student loan calculator that can show them how much will be their interest with their loan amount. The company also has a free-of-charge service which helps students find a college scholarship for them.

Discover allows borrowers to have a minimum loan amount of $1,000 and does not provide a limit with any of their student loans. The company also has a loan forgiveness provided in the event of the current borrower’s death or permanent disability.

Loan Rates Offered

Fixed Rate

Variable Rate

Types of Student Loans

Federal Student Loans

Private Student Loans

Student Loan Details

Minimum Loan Amount


Maximum Loan Amount

No limit

Loan Term Period

Varies on loan type


Variable rates: 3.37% APR - 9.49%

Fixed rates: 6.15% APR - 11.99%


Online Application

College Scholarship Search

Student Loan Calculator

Application Process Time

A few minutes

Other Loan Related Fees

Origination Fee

Loan Application Fee

Late Fee

Help and Support

Live Chat






For All Discover’s Student Loans

  • Must be enrolled at least half-time
  • Must be enrolled at an eligible school
  • Must be a U.S. citizen, primary resident, or international student with U.S. citizen or primary resident co-signer
  • Must be 18 years or older
  • Must pass a credit check
  • Must be seeking a degree

Student Loans at Discover

Discover is certainly a good choice for student loans. It offers a variety of student loan programs that come with flexible interest rates, and loan term payment periods. 

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