Graduate
Loans

No fees required for private student loans for masters and doctoral degree candidates in graduate school.

Variable Interest Rates

4.99% APR - 12.49% APR

(3-Month LIBOR + 2.74% to 3-Month LIBOR + 10.24%)

Fixed Interest Rates

6.49% APR - 12.99% APR

View APR Examples

MBA
Loans

No fees required for private student loans for MBA and other graduate students in business school.

Variable Interest Rates

4.99% APR - 11.74% APR

(3-Month LIBOR + 2.74% to 3-Month LIBOR + 9.49%)

Fixed Interest Rates

6.49% APR - 11.99% APR

View APR Examples

Law
Loans

No fees required for private student loans for graduate students in law school.

Variable Interest Rates

4.99% APR - 9.24% APR

(3-Month LIBOR + 2.74% to 3-Month LIBOR + 6.99%)

Fixed Interest Rates

6.49% APR - 9.99% APR

View APR Examples

Health Professions Loans

No fees required for private student loans for graduate students in eligible health professions programs.

Variable Interest Rates

4.99% APR - 9.24% APR

(3-Month LIBOR + 2.74% to 3-Month LIBOR + 6.99%)

Fixed Interest Rates

6.49% APR - 9.99% APR

View APR Examples

Rewards

Get a one-time cash reward on each new Discover student loan when you get at least a 3.0 GPA (or equivalent).8

Get a 0.25% interest rate reduction when you enroll in auto debit payments during repayment.9

NO FEES REQUIRED

That means you will not be required to pay any fees, including application, origination or late fees.

Repayment Options

Choose in-school or deferred repayment option and there is never a penalty for prepayment.

Details

Eligible Schools

You must attend an eligible school.

Interest Rates

You have a choice of fixed or variable interest rates.

  • Variable interest rates range from:
    • 4.99% APR to 12.49% APR2 (3-Month LIBOR + 2.74% to 3-Month LIBOR + 10.24%) for Graduate Loans
    • 4.99% APR to 11.74% APR3 (3-Month LIBOR + 2.74% to 3-Month LIBOR + 9.49%) for MBA Loans
    • 4.99% APR to 9.24% APR4 (3-Month LIBOR + 2.74% to 3-Month LIBOR + 6.99%) for Law Loans
    • 4.99% APR to 9.24% APR5 (3-Month LIBOR + 2.74% to 3-Month LIBOR + 6.99%) for Health Professions Loans
  • Fixed interest rates range from:
    • 6.49% APR to 12.99% APR2 for Graduate Loans
    • 6.49% APR to 11.99% APR3 for MBA Loans
    • 6.49% APR to 9.99% APR4 for Law Loans
    • 6.49% APR to 9.99% APR5 for Health Professions Loans

Private student loans are credit based. Students with no credit history or a low credit score may find it difficult to qualify for a private student loan on their own. Students have the option to apply for a Discover student loan with a cosigner. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.

Loan Limits

  • Minimum loan amount: $1,000
  • Maximum student loan limit: Up to 100% of your school-certified cost of attendance (including tuition, housing, books, and more) minus other financial aid. Aggregate loan limits apply.

Rewards

  • Get a one-time cash reward on each new Discover student loan when you get at least a 3.0 GPA (or equivalent).8
  • Get a 0.25% interest rate reduction when you enroll in auto debit payments.9

Repayment Options

Discover Student Loans offers two different repayment options to help you manage your payments.

  • In-School: Required to make $25 fixed, monthly payments while you are in-school and during your grace period to lower your overall cost.
  • Deferred: Monthly payments are not required until 9 months after you graduate or your enrollment drops below half-time.

Payments can be made anytime to help reduce the overall cost of the loan and there is never a penalty for prepaying.

Repayment Term

  • 20 years standard repayment

Payments can be made anytime to help reduce the overall cost of the loan and there is never a penalty for prepaying.

Eligibility Requirements

To qualify, you must:

  • Be enrolled at least half-time in a graduate program at an eligible school, business school, or law school, or in a health professions graduate program at an eligible school.
  • Be seeking a degree.
  • Be making satisfactory academic progress as defined by your school.
  • Be a US citizen, permanent resident or international student (International students require a cosigner who is a US Citizen or permanent resident).
  • Be 16 years or older at the time you apply.
  • Pass a credit check.

Apply for a Graduate Loan

Financial Aid Tip: U-fi recommends that you take advantage of all scholarship, grants, and federal aid options before applying for a private student loan.