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Discover Student Loans
|The Discover Student loans are offered for college and graduate students who reside permanently in US. The following loans will be available from the company to assist the financial needs for your higher education.
In fact Discover Student Loans is the sole provider of certified private loans whereas the other two types of federal loans will be from the federal government.
- Certified Private Loans
- Federal Stafford Loans
- Federal Parent PLUS loans
Discover Private Student Loans
The Discover Private Student Loans or Certified Private Loans is recommended on only when the borrowers do not suffice the cost of attendance from the two federal loans. This loan will be a good option if the federal loans are unable to satisfy the actual needs. Because it provides 100% full coverage of your school or college attending cost by reducing the amount of financial aid received for from any other sources. The benefits and features of this loan include the following.
- Competitive Interest Rates,
- Zero Origination Fees,
- 2% Graduation Reward
- 0.25% Auto Debit Reward
|Above all you can also reduce your interest rate of 0.25% while making the repayment provided that the automatic debit from an account is set up for your payments. Besides, there are several requirements and formalities to be completed before you apply for this Certified Private Loans. The details of such requirements are available on the company’s website. However, some of the basic requirements are given below.
You can submit the online application form for such loans or apply by phone at 1-877-728-3030 as well as you can also login online to check the application status and many other. The detailed information regarding the eligibility, interest rates, loan amount and other conditions can be found on the following link.
- Students who have US citizenship or permanent residents.
- Students who have enrolled in 4th or 5th year of undergraduate degree program.
- Promissory Note (MPN), Self Certification Form signed by the borrower as well as the Cosigner Addendum which is signed by the respective Cosigner.
Discover Federal Student Loans
Basically Federal Student Loans are provided by the government. These loans will be a good option for those who need less although it provides less features and benefit. The Federal Loans are available in two types i.e. Federal Stafford and Federal PLUS loans. The borrowers of the former should be students with US citizenship or eligible non US citizens whereas the latter can be borrowed by parents only. To see the detailed requirements of these loans, you can visit the following links or visit the FAFSA site at www.fafsa.ed.gov.
Discover Student Loans Review
The interest rates or the rating system of Discover Students Loans are varies and available in different rates. The interest rates of Certified Private Loans are available with prime index of 3.25% plus a margin of 0.50% upto 7.75%. On the other hand the both the Federal Loans are also available with variable interest rates. The Federal Stafford offers 4.5% and 6.8% fixed interest rates for the subsidized and unsubsidized loans respectively where the Federal PLUS loans are offered with 7.9% fixed interest.
You can make a deferment request, if you have financial problems and issues during your loan payments. The deferment request should be mailed or faxed at the following address.
Discover Student Loans,
PO Box 30947,
Salt Lake City, UT 84130-0947
For more information on loan deferment review the document available at the web address given below.
Discover Student Loans Contact:
Lender ID or Code: 831312
Phone Number: 1-877-728-3030 (from 8:00 a.m. – midnight ET)
Fax Number: 1-877-239-8214
Discover Student Loans
5420 W 1730 S
Salt Lake City, UT 84104
Payment Mailing Address:
Great Lakes — Borrower Services
PO Box 3059
Milwaukee, WI 53201-3059
For further detailed information on Discover Student Loans, consolidation, card and invitation code, you can refer the website given below.