Discover Bank Student Loan Application for 2025/2026
Higher education can be a significant financial commitment, but it doesn’t have to be a roadblock to your aspirations. Discover Bank offers a flexible and affordable Student Loan designed to make financing your education simple and stress-free. With competitive rates, no fees, and a customer-focused approach, Discover Bank Student Loans are an excellent choice for students aiming to achieve their academic dreams.
About Discover Bank
Discover Bank is a trusted financial institution with a strong reputation for providing innovative and customer-centric financial products. Known for its commitment to transparency and simplicity, Discover offers a wide range of financial solutions, including credit cards, personal loans, and student loans. Discover Bank’s Student Loan program reflects its dedication to supporting students in achieving their educational goals without unnecessary financial strain.
Note: Discover is no longer servicing student loans. The servicing of your Discover student loan(s) has transferred to Firstmark Services. Please contact Firstmark for questions, payments, and anything else related to your loan(s). All loans were transferred to Firstmark between September 7 and November 16, 2024. Because of these, student loan applicants should pay attention to the FAQS below
Where do I make payments?
Please make payments to Firstmark by mail, phone, or online:
Mail:
Firstmark Services
PO Box 2977
Omaha, NE 68103-2977
Phone: 1-888-295-0910
Online: FirstmarkServices.com
What happens to the payment I made to Discover now that my loan(s) has transferred?
Discover will forward any payments received on or after your transfer date to Firstmark for a short period of time after the transfer. Please make updates to your bill pay preferences now that Firstmark is your servicer.
How long will I be able to access the Discover Student Loans website and my account?
The Discover Student Loans website is expected to remain available through at least April 2025.
Where can I get payment history, statements, tax documents, and related loan documents?
You can access FirstmarkServices.com to view your billing statements, payment history, and related documents for your loan(s). For tax documents from 2023 or earlier, please call or email Firstmark:
- 1-888-295-0910
- Customer.Service@FirstmarkServices.com
Billing statements and tax documents issued by Discover will remain available in your Discover Student Loans account through April 2025.
| Document Type | Firstmark Services | Discover Student Loans |
| Payment History | Yes | No |
| Statements | Yes | Yes |
| Discover Tax Documents | Yes | Yes |
| Related Documents | Yes | No |
How will I get my 2024 student loan tax documents?
If there is reportable interest paid on your loans(s) while serviced by Discover in 2024, Discover will mail IRS Form 1098-E and/or an Interest Paid Letter to the borrower by January 31, 2025. These documents will also be available in Account Center. 2024 tax documents from Discover will be provided to Firstmark as well and should be available to you by mid-February 2025.
Firstmark will provide IRS Form 1098-E to the borrower for reportable interest paid on any loan(s) while Firstmark is servicing your loan(s).
Who do I contact if I didn’t receive a notice of transfer?
Most loans were transferred to Firstmark except for loans with an inactive status such as paid-off and charged-off loans. If your loan(s) was transferred, you should have received a communication by October 1, 2024. Please call Firstmark at 1-888-295-0910 if you haven’t received any communication yet.
Can I still call Discover?
If you have questions about a student loan that wasn’t transferred or about a recent letter from Discover, please contact Discover. Otherwise, call Firstmark at 1-888-295-0910.
Discover Bank Student Loan Eligibility
To qualify for a Discover Bank Student Loan, applicants must meet these basic eligibility criteria:
- Enrollment Status: Be enrolled at least half-time in a degree program at an eligible college or university.
- Creditworthiness: Applicants (or their co-signers) must demonstrate good credit history or meet the creditworthiness requirements.
- Citizenship: Must be a U.S. citizen, permanent resident, or international student with a qualified co-signer.
- Age Requirement: Be at least 18 years old or meet the minimum age requirement in their state.
Discover Bank Student Loan Amount Rewarded
Discover Bank offers customized loan amounts based on your educational needs. The loan can cover:
- Full tuition costs.
- Accommodation and living expenses.
- Additional expenses such as textbooks, laptops, and other supplies.
The maximum loan amount is determined by the cost of attendance (as certified by the school) minus any other financial aid received.
Requirements for Discover Bank Student Loan Application
To apply for a Discover Bank Student Loan, ensure you have the following:
- Proof of Enrollment: A certification from the educational institution confirming your enrollment.
- Personal Information: Including Social Security number and details of employment (if applicable).
- Co-signer Information: If required, provide your co-signer’s details, including their income proof and Social Security number.
- Cost of Attendance: A breakdown of your expected tuition, fees, and other related costs.
Discover Bank Student Loan Calculator
The Discover Bank Student Loan Calculator is a powerful tool to help you plan your finances. By entering the loan amount, interest rate, and repayment term, you can:
- Estimate your monthly repayment amount.
- Understand the total cost of the loan over the repayment period.
- Adjust the loan term to find the best fit for your budget.
How to Apply for Discover Bank Student Loan
Follow these simple steps to apply for a Discover Bank Student Loan:
- Check Eligibility: Ensure you meet all eligibility requirements before applying.
- Complete the Application: Fill out the loan application online or through Discover’s customer support.
- Provide Documentation: Upload or submit all required documents, such as proof of enrollment and cost of attendance.
- Credit Check: Discover will conduct a credit check to evaluate your or your co-signer’s creditworthiness.
- Approval and Disbursement: Once approved, the loan funds are disbursed directly to your educational institution.
How to Pay Off Discover Bank Student Loan
Discover Bank offers multiple repayment options to ensure flexibility:
- In-School Repayment: Start making small fixed payments or interest-only payments while still in school to reduce overall loan costs.
- Full Deferment: Defer payments until after graduation, with a grace period of six months.
- Automatic Payments: Set up automatic payments to qualify for an interest rate discount and avoid missing due dates.
- Early Repayment: Pay off your loan early without any prepayment penalties to save on interest.
Discover Bank Student Loan is a smart and efficient way to fund your higher education. With no fees, flexible repayment options, and dedicated customer support, Discover ensures that students can focus on achieving their academic goals without worrying about financial hurdles. Take the first step toward a brighter future by applying for a Discover Bank Student Loan today.