Discover Student Loans Adds Fixed-Rate Loans for Undergraduate,
Health Professions, Law, MBA and Graduate Students
RIVERWOODS, Ill.--(BUSINESS WIRE)--May. 21, 2012--
Discover Student Loans, one of the largest originators of private
student loans in the United States, announced today new fixed-rate loans
for undergraduate and graduate students with rates as low as 6.79
percent APR.
While Discover continues to offer competitively priced variable rate
loans with initial rates as low as the prime rate -- currently 3.25
percent APR -- the new fixed-rate loans provide predictability with a
set interest rate for the life of the loan. Discover's fixed-rate loans
are designed to have rates comparable to unsubsidized Stafford and PLUS
Loans without the up-front origination fees of up to 4 percent.
Like all Discover Student Loans, fixed-rate loans:
-
Have zero origination fees
-
Are backed by 24/7 customer service
-
Come with a 0.25 percent Auto Debit Reward
-
Require no payments while students are enrolled in school at least
half-time
-
Are forgiven in the event of the primary borrower’s death or permanent
disability
“For students who want the convenience and simplicity of knowing what
their monthly payments will be, Discover’s new fixed-rate loans are a
great option,” said Steve Olszewski, senior vice president of student
loans for Discover. “Our mix of fixed- and variable-rate loans gives
borrowers the ability to choose a loan that better meets their unique
circumstances.”
As a responsible lender of private student loans, Discover encourages
students and their parents to seek out all available grants,
scholarships and free financial aid before taking student loans.
Discover also advises students to consider federal student loans
and to compare all the features of federal and private student loans to
see which loans best fit their needs. Discover requires school
certification to help prevent students from borrowing more than they
need and disburses funds directly to schools so tuition bills get paid
on time.
DiscoverStudentLoans.com
has tools
and information to help students and parents with each step of the
process – from exploring
financial aid to repaying
student loans. Students can apply at DiscoverStudentLoans.com
for fixed- or variable-rate loans for undergraduate, health professions,
law, MBA and graduate programs.
For more information, visit DiscoverStudentLoans.com
or call 1-877-728-3030 anytime to speak with a student loan specialist.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company
operates the Discover
card, America's cash rewards pioneer, and offers personal and
student loans, online savings accounts, certificates of deposit and
money market accounts through its Discover
Bank subsidiary. Its payment businesses consist of Discover
Network, with millions of merchant and cash access locations; PULSE,
one of the nation's leading ATM/debit networks; and Diners
Club International, a global payments network with acceptance in
more than 185 countries and territories. For more information, visit www.discoverfinancial.com.
Source: Discover Financial Services
Discover
Jon Drummond
224-405-1888
jondrummond@discover.com