Discover refinancing and private student loans: Review 2021

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Discover private student loans are a good option for borrowers who want flexible repayment options in case they need leeway in the future. Discover offers a wider range of repayment assistance programs compared to other student lenders, including the ability to temporarily reduce payments.

Discover could improve its private student loans by:

Before taking out a Discover student loan or any other private student loan, first exhaust your federal student loan options. Submit the Free Federal Student Aid Application, known as FAFSA, to apply.

to make sure you get the best rate you qualify for. In addition to interest rates, consider lender repayment alternatives and the flexibility they offer to borrowers who are struggling to make payments.

If Discover denies your student loan application, the lender will tell you why. Depending on the reason, you may want to consider other lenders or, if you haven’t already, try applying with a co-signer.

If you do not have access to a co-signer or are still not eligible with a co-signer, consider or specialize in .

NerdWallet believes that the best student loan is one that you can pay off at the lowest possible interest rate. That’s why NerdWallet’s student loan ratings reward lenders who offer a variety of loan terms, limit their fees and penalties, and give borrowers multiple options to avoid default. Points are also awarded for flexible credit checks, underwriting transparency and other user-friendly features. Use these ratings as a guide, but we encourage you to research the lowest interest rate you can qualify for. NerdWallet does not receive any compensation for its reviews. Read our


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