Choosing a Discover Student Loan


Choosing a Discover Student Loan

Choosing a Discover student loan can be a good way to help you plan the cost of college. Discover offers a variety of private loans with a variety of repayment options. You can also refinance a Discover loan to get a lower rate.

Discover offers both fixed and variable interest rates. They also offer a repayment term of up to 20 years. Depending on the type of loan, you may be able to enroll in an income-driven repayment plan. In addition to a variety of repayment options, Discover also offers options for borrowers who are experiencing financial hardship.

Students who are considering a Discover loan should first check to see if they are eligible for the loan. Most student loan lenders will offer pre-qualification tools to help prospective borrowers find out if they qualify. If you do not qualify for a Discover loan, you should check with your school's financial aid office to see if you are eligible for other financing options.

Discover offers a variety of repayment options, including a flexible monthly payment option, deferred payment plans, and an interest-only repayment option. These options are available for both undergraduate and graduate students. These loans offer an interest rate discount of 0.35% when you make interest-only payments while in school.

Discover offers a cash reward for good grades. This reward is equal to 1% of the loan amount. In order to qualify, you must have a 3.0 GPA and make your loan payments on time. You can also receive an additional 0.25% interest rate discount when you enroll in automatic payments.

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