Log In Student loans with great rates Get good grades. Get paid. Now freshmen can get a student loan with even more rewards for good grades1. Variable Rates 1.29% - 10.59% APR Fixed Rates 3.99% - 11.59% APR APRs shown are for undergraduate loans. APR ranges will vary by loan type and may be higher than what is shown here. Lowest APRs are available to the most creditworthy applicants, and include an interest-only repayment discount and Auto Debit Reward2. Applying with a creditworthy cosigner may improve your likelihood for loan approval and you may receive a lower interest rate. Start an Application State (Optional) Loan Type Retrieve Your Application Cosign an Application Select a student loan to help pay for college Average Customer Rating 4.6 out of 5 stars. Read reviews for average rating value is 4.6 of 5. Read 2117 Reviews Same page link. 4.6 (2117) See how we calculate our ratings Undergraduate Graduate Health Professions MBA Law Residency Bar Exam Consolidation Parent See All Loans Why choose Discover® Student Loans? Up to 100% Covered Up to 100% of school-certified college costs are covered. Aggregate loan limits apply. Zero Fees That includes no application, origination or late fees. Valuable Rewards Get cash rewards for good grades. Plus a 0.25% rate reduction when you're enrolled in automatic payments. US-Based Loan Specialist All of our Student Loan Specialists are US-based. We're here anytime day or night to help you. See how we compare Discover® Sallie Mae Citizens Bank Celebrates hard work with a cash reward for good grades1 Zero fees Customize your loan with rate and repayment options Offers a free search tool to find scholarships Apply in minutes Comparisons based on information obtained on lenders' websites or from customer service representatives and are based on student loans where students are the primary borrower as of September 2021. Student loan resources for students and parents College Loans Understanding Student Loan Interest Rates Understanding student loan rates are important when evaluating student loans. Learn about differences between fixed interest rates and variable interest rates. College Majors Making a Valuable College Decision Choosing a college major is an important decision. Explore this interactive tool that can help you evaluate your college return on investment. Next Slide Find College Scholarships Student Loan Calculators Information for Schools Compare Federal and Private Student Loans Students who get at least a 3.0 GPA (or equivalent) may qualify for a one-time cash reward of 1% of the loan amount on each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Visit DiscoverStudentLoans.com/Reward for reward and redemption terms and conditions. The fixed interest rate is set at the time of application and does not change during the life of the loan unless you are no longer eligible for one or more discounts. The variable interest rate is calculated based on the 3-Month CME Term SOFR index plus the applicable margin percentage less any applicable discounts. The 3-Month CME Term SOFR index value for variable interest rate loans is 0.125% as of November 14, 2021. 3-Month CME Term SOFR is administered by CME Group and is published by CME Group on its website (cmegroup.com/termsofr). Discover Student Loans may adjust the variable interest rate quarterly on each January 1, April 1, July 1 and October 1 (each an “interest rate change date”), based on the 3-Month CME Term SOFR rate available for the day that is 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125), or 0%, whichever is greater. This may cause the monthly payments to increase, the number of payments to increase or both. If the 3-Month CME Term SOFR rate is less than zero percent, then the index will be deemed to be zero percent (as stated in the promissory note) for purposes of calculating your interest rate. Your variable interest rate (index + margin – applicable discounts) will not exceed 18%. Our lowest APRs are only available to applicants with the best credit. The APR will be determined after an application is submitted. It will be based on credit history, the selected repayment option and other factors, including a cosigner’s credit history (if applicable). If a student does not have an established credit history, the student may find it difficult to qualify for a private student loan on their own or receive the lowest advertised rate. Learn more about Discover Student Loans interest rates. Borrow responsibly. 1. Maximize grants, scholarships and other free financial aid. 2. Compare federal and private student loans. 3. Choose the loans that best fit your needs. Student Loan Products Discover Student Loans Help & Support Other Products Sitemap Terms of Use Security Center Newsroom Privacy Contact Us AdChoices Twitter opens in a new window Facebook opens in a new window Linked In opens in a new window Youtube opens in a new window ©2021 Discover Bank, Member FDIC | Lender ID 831312 Equal Housing Lender Opens in a new window Feedback Launches comment card in new window