Discover Student Loans Launches Parent Loan and Expands Rewards for Good Grades Products to Help Borrowers Cover University Expenses


RIVERWOODS, Illinois – (COMMERCIAL THREAD) – Discover Student Loans updates its product line to offer families more options and benefits when financing their college trips. By launching a new Parental Loan and expanding its High Grade Rewards program to reward incoming freshmen for good high school grades, Discover Student Loans continues to find new ways to help clients.

“In these difficult times, Discover Student Loans is committed to helping our clients plan for their studies, even as others leave the space,” said Manny Chagas, vice president of Discover Student Loans. “Our recent survey found that despite COVID-19, 67% of parents still think college is a good investment. However, due to the pandemic, 48% of parents cannot afford to pay their child’s school fees as much as expected. We offer a variety of loan options with great rates and no fees to help families make that investment with confidence.

Discover Student Loans extends its existing high grade rewards benefit to incoming freshmen who are now eligible for an additional cash reward based on their high school grades. This benefit is in addition to the existing cash reward that students are entitled to, achieving good grades while in college, which is a 1% cash reward for a GPA of 3.0 or higher.

Discover Student Loans’ new parent loan allows parents, or other creditworthy people, to take out a loan on behalf of their student to cover the student’s higher education costs. As with all Discover student loans, parent loans have no fees, and US-based loan specialists are available to help you 24/7.

Discover Student Loans offers tools and resources to help parents and students pay for their education, including a free scholarship finder and student loan calculators.

For more information on Parental Loan and Discover Student Loans High Grade Rewards, please visit www.discover.com/student-loans.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payments company with one of the most recognized brands in US financial services. Since its inception in 1986, the company has grown into one of the largest card issuers in the United States. The company issues the Discover Card, a pioneer in cash rewards in the United States, and offers private student loans, personal loans, home loans, checking and savings accounts, and certificates of deposit through its banking operations. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access points; PULSE, one of the country’s main ATM / debit networks; and Diners Club International, a global payment network accepted worldwide. For more information, visit www.discover.com/company.

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