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  Discover Bank Student Loan Consolidation

Discover Bank Student Loan Consolidation

in Student Loan Refinancing from Discover Bank

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Discover Bank Student Loan Consolidation

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in Student Loan Refinancing from Discover Bank

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Highlights
Highlights
Loan Amount Starting at $1,000
Loan Term (Years) 10 - 20 years
Fixed APR 4.74% - 12.74%
Variable APR 1.8% - 10.37%

Discover Bank Student Loan Consolidation Review

Discover Bank Student Loan Consolidation is a student loan refinance offering by Discover Bank, . Founded in 1985, Discover Bank offers student loan refinancing in 50 states (and Washington, DC).

What APRs does Discover Bank Student Loan Consolidation offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

Discover Bank Student Loan Consolidation offers variable rate APRs that range from 1.8% to 10.37%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 4.74% to 12.74% APR.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Discover Bank Student Loan Consolidation charge prepayment fees?

No, Discover Bank Student Loan Consolidation does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does Discover Bank Student Loan Consolidation offer?

Discover Bank Student Loan Consolidation provides refinancing loans of 10 to 20 years.

What type of borrowers will Discover Bank Student Loan Consolidation consider?

Discover Bank Student Loan Consolidation considers loans applications from:

  • undergraduate degree holders
  • graduate degree holders
  • parents of graduates

What do you need to qualify for Discover Bank Student Loan Consolidation?

Discover Bank Student Loan Consolidation does not require or does not disclose a credit score minimum.

Discover Bank Student Loan Consolidation does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

What is the estimated funding time for a student loan refinance via Discover Bank Student Loan Consolidation?

Discover Bank Student Loan Consolidation will typically provide a credit approval decision in less than an hour and fund the loan within 1 to 7 days.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 6:00pm
  • Tuesday 9:00am - 6:00pm
  • Wednesday 9:00am - 6:00pm
  • Thursday 9:00am - 6:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 8:30am - 1:00pm

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Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Interest Grace Period for Late Payment 6 days
No Origination Fee  
No Prepayment Fee  
Cosigner Optional  
Fixed APR 4.74% - 12.74%
Loan Amount Starting at $1,000
Variable APR 1.8% - 10.37%
Loan Term 10 - 20 years

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SUPERMONEY NET RECOMMENDATION SCORE

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