Discover Student Loans

Save money on Certified Private Loans

A Certified Private Loan is a good option if you still need money after considering a Federal Stafford Loan and a Federal Grad PLUS Loan.

Our private loans have zero origination fees, competitive interest rates and a 2% Graduation Reward
You can cover up to 100% of your cost of attendance (COA) less other financial aid
No payments are due until 9 months after you graduate or enroll in school less than half-time

Zero origination fees
2% Graduation Reward– 2% cash reward on outstanding principal balance at graduation (Certified Private Loans only)
0.25% Auto Debit Reward– 0.25% interest rate reduction during repayment, when payments are set up for automatic debit from a bank account

Variable interest rates from Prime plus 1.00% to Prime plus 7.75% (see APR example)
No payments due until 9 months after you graduate or enroll in school less than half-time (if you are enrolled less than half-time, payments begin 9 months following less than half-time status)
20-year repayment term

Up to your cost of attendance (COA) minus other financial aid
For example, if the cost of attendance (as determined by your school) is $40,000 and you receive $25,000 in other financial aid (such as scholarships and other loans), you can borrow up to $15,000

Graduate students who are US citizens or permanent residents
Graduate students who are enrolled and making satisfactory academic progress (SAP) in a graduate degree program (eligible schools are listed in the online application)
Graduate students who pass a credit checkLenders contact Credit Bureaus (Equifax, Experian, TransUnion) who have tracked your credit history (e.g. credit cards, loans) to determine whether you have been diligent in your repayment of debts. (a credit-worthy cosigner may be required, depending on the outcome of your credit check)

In this step, we determine whether we can provide a private loan to you

We offer private loans at many schools with graduate degree programs – eligible schools will display Certified Private Loan as an option in the first step of our online application
Have your Social Security number, driver's license, cosigner information and two references ready
Apply online and follow the instructions to complete your application, or call us at 1-877-728-3030 to apply by phone
We will run a credit check and inform you if your application requires a cosigner – you can follow the instructions online or call us at 1-877-728-3030 to add a cosigner

In this step you sign documents confirming that you want to receive a loan from us

Returning customers: You need to sign a new Promissory Note and Self-Certification Form for each application

In this step, we confirm your eligibility with your school and determine your final loan amount

When we have your signed Promissory Note, we will contact your school and request school certification
Once we receive your Promissory Note, Self-Certification Form, Cosigner Addendum (if you have a cosigner) and school certification, we will provide an Approval Disclosure with the terms of the loan
You must accept the loan terms before we can disburse your funds
To accept the terms of the loan, log in to DiscoverStudentLoans.com or call 1-877-728-3030

In this step, we fund your loan

We fund your loan in installments according to the disbursement scheduleYour school notifies us when your loan installments should arrive. provided by your school
We send the money directly to your school
Your school applies the funds to your student's account and forwards any remaining funds to you (for rent, books or other costs related to attending school)