The Discover Student Loan from Discover Financial Services (NYSE: DFS DFSDiscover Financial Services67. 13-0. 46% Created with Highstock 4. 2. 6 ) is a private student loan designed to fill the gap between a student's savings, scholarships, and federal financial aid and the total cost of attending college. Students can use the proceeds from a Discover loan for tuition, housing, books, meals, and other qualified expenses. Discover covers up to 100% of school certified cost of attendance and offers flexible repayment plans, but private student loans come with many provisions that affect borrowers.
How the Discover Student Loan Works
For many students, college savings, federal grants, and loans are not enough to cover the rising cost of attending college. From the 1980s through the 2010s, college tuition has increased nearly three times the rate of inflation. When a student sees a funding gap between available money and the total cost of attendance, a private student loan is one way to shore up the difference.
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