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Discover student loan review: is it worth it?

Completing your studies is very important for a successful professional career. Do you need financial help? Then meet the Discover Student Loan.

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by Sabrina Paes

Published on 09/02/2022

Discover student loan review and benefits: low APR, zero fees, and up to 100% coverage of your study

Discover student loan logo
Learn more about the student loans available at Discover! Source: Discover

Studying can be quite a challenge, especially if you don’t have a lot of money. In order to make life easier for undergraduates, there is a Discover Student Loan.

Discover logo

How to apply for Discover student loan?

If you need a student loan that can cover up to 100% of your school costs, check out our post about Discover student loan application!

With this type of loan, you will get a low APR rate, zero extra fees, and coverage of up to 100%. These are benefits that will help you complete your studies. Read more.

APR2.99% to 12.59% variable
5.49% to 13.99% fixed
Loan PurposeFunding for undergraduate, graduate, or technical career courses
Loan Amounts$1,000 minimum. Borrow up to 100% of the school-certified cost of attendance
Credit NeededDoes not disclose
Origination FeeNone
Late FeeNone
Early Payoff PenaltyNone

Discover student loan: how does it work?

Student and words
Learn more about this Discover Loan! Source: Discover

The Discover Student Loan exists to make life easier for students. And when it comes to facilitating, nothing beats having low student loan rates, right?

Discover offers some possibilities for adding co-signers and has flexible payment. Thus, you can reduce fees and schedule reimbursement in the best way.

In addition, this type of loan brings low rates, a bonus for good performance, and payment tolerance. That way, you can organize your finances and avoid suffering.

Is it worth it to apply for the Discover student loan?

The Discover Student Loan is a type of financing that can meet all your needs. It can cover all costs, including books and other student expenses, and accepts co-signers.

So, you can earn even lower APR rates. Check out the benefits and disadvantages in our lists below!

Benefits

  • No extra fees, such as origination fees, early payoff penalties, or late fees;
  • Low APR;
  • It has a performance bonus for students who achieve a GPA of 3.0 or equivalent;
  • Refund is flexible;
  • Accepts co-signers, and this reduces the APR;

Disadvantages

  • Pre-qualification is not available;
  • The payment schedule is a bit rigid;
  • Long release period.

What credit scores are required for the application?

The required credit level is not disclosed by the company. That is, you will only know after passing the qualification if you are eligible to apply for this loan.

However, some reports point out that the credit ranges from fair to excellent.

The eligibility framework depends on a number of factors, such as the presence of co-signers, payment method, and credit usage history.

Discover student loan: applying for this loan today

Discover Student Loan requires some documentation and does a thorough review of your credit history. Therefore, it is essential to follow all the steps and fill in your data as clearly as possible.

In order to help you, we prepared the post below. So, you will learn how to apply today and get your loan as soon as possible. Don’t forget to check it out!

Discover logo

How to apply for Discover student loan?

If you need a student loan that can cover up to 100% of your school costs, check out our post about Discover student loan application!

About the author

Sabrina Paes

Content Writer, Copywriter, and Ghostwriter. Content marketing professional with 5 years of experience. Specialist in investment, finance, and technology niche. MBA in Marketing at the University of São Paulo, Brazil. Content Writer by Rock Content, and University of California (UCDAVIS).

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