Discover Bank Bar Exam Loans: Get a student loan with zero fees to pay for your bar exam preparation after law school. With our zero fee private student loan for bar exam candidates, you can cover the cost of your bar study prep classes and living expenses. Applying online is quick and easy and our knowledgeable Student Loan Specialists are ready to help you 24/7. Discover Bank Bar Exam Loans
Discover Bank is available nationwide. See below on more info regarding Discover Bank Law School Loans. Discover Bank Bar Exam Loans
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Discover Bank Bar Exam Loans Benefits
- Zero Fees Discover Bank Bar Exam Loans
- No loan application fees. No origination fees. No late fees.
- Rewards Discover Bank Bar Exam Loans
- Get a one-time 1% cash reward on each new Discover student loan when you get at least a 3.0 GPA (or equivalent)
- Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment.
- Repayment Options Discover Bank Bar Exam Loans
- Choose in-school or deferred repayment option and there is never a penalty for prepayment.
Discover Bank Bar Exam Loans Simplified
- Apply In 15 Minutes or Less
- Apply from your computer, smartphone or other mobile device, or call us at 1-800-STUDENT.
- Add A Cosigner, If Needed Discover Bank Bar Exam Loans
- Students may have the option to apply with a creditworthy cosigner. Adding a creditworthy cosigner may improve your likelihood for loan approval and you may receive a lower interest rate.
- Select Your Interest Rate Type and Repayment Option
- Choose from a fixed or variable interest rate and an in-school or deferred repayment option to best fit your needs.
- Sign and Accept Your Loan Discover Bank Bar Exam Loans
- Sign your loan documents electronically and accept your loan terms.
Common Questions
- Law Loan Features Discover Bank Bar Exam Loans
- Am I eligible for a Discover Law Loan?
- To qualify, you must:
- Have graduated from law school within the past 6 months, or be enrolled at least half-time and making satisfactory academic progress in your final year of study in a graduate law degree program.
- 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 you apply.
- Pass a credit check.
- To qualify, you must:
- How Much Can I Borrow?
- You can borrow up to $16,000 for bar exam preparation. Aggregate loan limits apply.
- The minimum amount is $1,000 for each loan.
- We will send funds directly to you via check or electronic deposit to your bank account.
- Do I Need A Cosigner?
- Private student loans are credit based. Students with no credit history or a low credit score may find it difficult to qualify for a private student loan on their own. Students may have the option to apply for a Discover student loan with a creditworthy cosigner. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.
- What Is The Difference Between A Fixed Interest Rate and Variable Interest Rate?
- A fixed interest rate is set during the time of application and does not change during the life of the loan.
- A variable interest rate may change quarterly during the life of the loan, if the 3-Month LIBOR changes. This may cause the monthly payment to increase, the number of payments to increase, or both.
- What Is The 1% Cash Rewards For Good Grades?
- Doing your homework has its rewards. Get at least a 3.0 GPA (or equivalent) and receive a one-time cash reward of 1% of the loan amount of each new Discover student loan (applicable for eligible loan applications submitted on or after May 1, 2014). Reward redemption period is limited.
- What is an Auto Debit Reward?
- Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment. To enroll for automatic payments, complete the enrollment form online or call us at 1-800-STUDENT to request a copy of the enrollment form, complete it and mail it back to the address on the form.
- Am I eligible for a Discover Law Loan?
- Law Loan Repayment
- What Is A Deferment Period?
- If you are in school at least half-time, on active military duty, serving a public service organization or in a medical residency, you may qualify for a deferment. A deferment period is a period of time when a borrower is not required to make any payments. During deferment, interest will continue to accrue. At the end of a deferment period, any unpaid interest will be added to your principal balance. This may increase the amount of your monthly payments and the total cost of your loan(s).
- What Is My Repayment Period?
- A repayment period is the period of time during which scheduled payments are required to be made to repay the principal balance and interest on a loan. Your repayment period is 20 years after the deferment period ends.
- What Are My Repayment Options?
- In-School – Required to make $25 fixed, monthly payments while you are in-school and during your grace period to lower your overall loan cost.
- Deferred – Monthly payments are not required until 9 months after you graduate or your enrollment drops below half-time.
- You can make payments anytime to help reduce the overall cost of your loan and there is never a penalty for prepaying. If you’re not receiving monthly billing statements, we will send you quarterly statements showing you how much interest is accruing and how to make optional payments while you are in school.
- What If I Need Help Making My Monthly Payments?
- If you are experiencing financial difficulties and you are unable to make your student loan payments, we have options to help. To learn more and determine if you qualify, please call our Repayment Assistance Department at 1-800-STUDENT.
- What Is A Deferment Period?
Discover Bank Online App
- All your banking, in your pocket or purse. Download the Discover Bank Online App today via iOS or Android.
Still Have Questions?
- Reach someone helpful 24/7. Call 1-800-347-7000! Ask to be connected with the Discover Bank Online Security Center.
Author’s Verdict
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