Fixed Interest Rates for Undergraduate, Graduate and Post-Graduate
Loans as Low as 5.49% APR
RIVERWOODS, Ill.--(BUSINESS WIRE)--Jun. 26, 2013--
Discover Student Loans, one of the largest providers of private student
loans in the country, has lowered interest rates on fixed rate student
loans for undergraduate, graduate and post-graduate students.
For students who like the security of knowing what their rates will be
in the long term, the fixed rates for new student loans are as low as
5.49 percent APR. All new Discover Student Loans have zero origination
fees, zero late payment charges and zero returned payment charges.
Every graduate student who obtains a Discover fixed rate graduate
student loan will receive a lower interest rate than Federal PLUS Loans,
which are currently 7.90 percent and come with a 4 percent origination
fee. About half of graduate students who obtain a fixed rate graduate
student loan from Discover Student Loans will receive a lower fixed rate
than Unsubsidized Federal Stafford Loans, which are currently 6.80
percent and come with a 1 percent origination fee.
“Discover’s new, lower fixed rate student loans build on our promise to
provide more affordable options to pay for college, graduate school and
post-graduate studies,” said PK Parekh, vice president for Discover
Student Loans. “We are committed to responsible lending and encourage
students who need to borrow to compare federal and private student loans
and choose the loans that best fit their needs.”
Customers of Discover Student Loans will continue to be able to choose
between the fixed rate student loans and variable rate student loans
that start as low as Prime Index + 0.00 percent, which is currently 3.25
percent APR.
Discover Student Loans offers loans for undergraduate, health
professions and residency, law and bar exam, MBA and other graduate
programs. For more information on interest rates, as well as tools and
information to help students and parents with paying for college, please
visit DiscoverStudentLoans.com
or call 1-800-STUDENT to speak with a US-based Student Loan Specialist
anytime 24/7.
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
home loans, private student loans, personal loans, checking and savings
accounts, certificates of deposit and money market accounts through its
direct banking business. 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 Financial Services
Rob Weiss
224-405-6304
robertweiss@discover.com