Not All Student Loans Are Equal? Posted byJohn Hall June 9, 2015May 4, 2023 By tamara It’s not very often that I get excited about student loans. In fact, I spend most of my time helping students find ways to avoid them, if at all possible. But sometimes, scholarships just aren’t enough to cover all your college expenses. Even if you’ve completed the Free Application for Federal Student Aid (FAFSA) and exhausted all your federal loan options, your dream school may still be out of reach. If you find yourself in this situation, don’t take out a private student loan until you take a look at the new program being offered by Discover Student Loans. Whether you’re enrolling in an undergraduate or graduate program, pursuing a health professions degree or going to law school, here are some reasons the Discover Student Loan Program is worth a look. No Fees There is no application fee charged through this program. And, unlike federal student loans, you won’t be charged an origination fee either. Even more, you’ll also avoid late fees. That’s extremely rare – especially for private student loans. Payment Deferment Most federal student loans allow you to defer your payments until six months after graduation or when you fall below part-time status. You’ll enjoy the same benefit through Discover Student Loans, as well, but that’s not all. Should you decide to further your education and continue on to medical or law school, you’ll enjoy a nine-month grace period. That’s an additional three months more than the federal deferment period. Get Paid for Good Grades Here’s the best part of the new Discover Student Loan Program. If you work hard in college and earn a grade point average (GPA) of 3.0 or higher, you’ll get a reward for your efforts. For each new loan you take, you can earn a one-time cash reward valued at one percent of the disbursed principal balance on your loan. That’s better than any incentive program my parents used to keep me working hard in school. Want to learn more about the Discover Student Loan Program? Visit its website today!