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Average Customer Rating

Post-Graduate Students

Post-graduate professionals can get a private student loan to cover expenses while preparing for a medical residency or internship or studying for the bar exam.

Residency Loans

Medical students preparing for residency, internship, relocation and board exam review

Bar Exam Loans

Law school students taking the bar exam can cover prep classes and living expenses

  1. The Annual Percentage Rate (APR) for a variable rate loan may increase during the life of the loan if the 3-Month LIBOR Index increases. This may result in higher monthly payments, an increase in the number of scheduled payments or both. Learn more about?Discover Student Loans interest rates.
  2. The average savings amount is based on customers that consolidated student loans with us from 2014 through August 2018. Your actual savings amount might vary depending on your interest rate, loan balances, loan term and other factors. Depending on your new loan APR and repayment term, consolidation could increase the total cost and length of your loan.

Why A Discover Private Student Loan

100% Covered

Cover up to 100% of the school-certified college costs. Aggregate loan limits apply.

Zero Fees Required

You will not be required to pay loan application, origination or late fees.

Repayment Options

Choose from in-school and deferred repayment options.

Apply with a Cosigner

A creditworthy cosigner may lower your interest rate.

Common Private Student Loan Questions

Below is a list of frequently asked questions. If you need to look up a term or acronym, use our glossary.

Fixed interest rates stay the same throughout the life of the loan. They can provide a sense of stability because you know how much you'll pay each month.


Variable interest rates are based on either the Prime Index or the London Interbank Offered Rate (LIBOR) Index and will change periodically if the index changes. Similarly, your monthly payment will increase or decrease as the interest rate changes. Variable interest rates tend to start lower than fixed interest rates, but may increase over the life of the loan.

To qualify for an undergraduate or graduate private student loan, you must

  • Be enrolled at least half-time in a degree program at an eligible school.
  • Be seeking a degree.
  • Be making satisfactory academic progress as defined by your school.?
  • Be a US citizen, permanent resident or international student (International students require a cosigner who is a US Citizen or permanent resident).?
  • Be 16 years or older at the time you apply.
  • Pass a credit check.

Click here for Residency Loan eligibility requirements.
Click here for Bar Exam Loan eligibility requirements.
Click here for Consolidation Loan eligiblity requirements.

  • For undergraduate and graduate loans, you should apply at least 45 to 60 days before you need the student loan.
  • For Residency and Bar Exam loans, you should apply at least 45 to 60 days before you need the student loan.
  • For Consolidation Loans, you should apply at least 30 to 45 days before you need the student loan.

Open applications for all loan types expire after 120 days.

The application process has four steps.

  1. Apply online in 15 minutes or less and get a credit decision.
  2. Add a cosigner, if needed.
  3. Select your interest rate type and repayment option.
  4. Sign and accept your loan documents.
Private student loans are credit based. Students with no credit history or a low credit score may find it difficult to qualify for a private student loan on their own. Students may have the option to apply for a Discover student loan with a creditworthy cosigner. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.
Federal student loans, also known as Direct Loans, are funded by the government and may be awarded as part of your financial aid package if you completed the Free Application for Federal Student Aid (FAFSA?). They feature fixed interest rates and offer several repayment options. Private student loans are offered by banks or other lenders, are credit-based and have fixed or variable interest rates.

FAFSA is a registered service mark of the US Department of Education.
For undergraduate and graduate student loans, you can borrow up to 100% of your school-certified cost of attendance (including tuition, housing, books and more) minus other financial aid. Aggregate loan limits apply. The minimum amount is $1,000 for each loan. We certify and disburse loan amounts through your school so you do not borrow more than you need.

Use this student loan calculator to estimate how much you may need to borrow.

Click here for borrowing limits for Residency Loans.
Click here for borrowing limits for Bar Exam Loans.
Click here for borrowing limits for Consolidation Loans.
We encourage you to borrow responsibly and maximize grants, scholarships and other free financial aid before taking student loans. If you need to borrow, compare federal and private student loans and choose the loans that best fit your needs.

For more Frequently Asked Questions check the FAQ page.

Helpful Private Student Loan Resources

Learn more about how private student loans can help cover the cost of college.