Student Loan for MBA

Can you tell me in detail about the Discover Student Loans offered by Discover Bank as I want to check if I am eligible to apply for it or not, please guide me properly?

[Shaleen]

Discover Student Loans are made by Discover Bank, a trusted financial institution for 100 years. Discover Bank offers a variety of financial products, including FDIC-insured savings accounts, credit cards, personal loans and student loans.

In 2010, the Bank acquired The Student Loan Corporation, increasing Discover's commitment to offering affordable private student loans.

MBA Loan

Eligibility
To qualify, one must:

• Be enrolled at least half-time in a graduate program at an eligible business school.

• Be seeking a degree.

• Be making satisfactory academic progress as defined by 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 apply.

• Pass a credit check.

How much one can Borrow

• Each year, one can borrow up to 100% of school-certified cost of attendance (including tuition, housing, books and more) minus other financial aid.

• The minimum amount is $1,000 for each loan.

• It certifies and pay loan amounts through school so one do not borrow more than you need.

Repayment Options

In-School –
Required to make $25 fixed, monthly payments while one is in-school and during the grace period to lower overall loan cost.

Deferred –
Monthly payments are not required until 9 months after one graduate or one’s enrollment drops below half-time.