Discover Student Loans Introduces Parent Loan and Expands Rewards for Good Grades Product to Help Borrowers Cover College Expenses
Discover Student Loans is updating its product suite to give families more options and benefits when financing their college journeys. By launching a new Parent Loan and expanding its Rewards for Good Grades program to reward incoming college freshmen for good grades earned in high school, Discover Student Loans continues to find new ways to help customers.
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“In these challenging times, Discover Student Loans is committed to helping our customers plan for college, even as others are leaving the space”
“In these challenging times, Discover Student Loans is committed to helping our customers plan for college, even as others are leaving the space,” said Manny Chagas, vice president of Discover Student Loans. “Our recent survey found that despite COVID-19, 67% of parents still believe college is a good investment. However, due to the pandemic, 48% of parents can’t afford to pay as much of their child’s college costs as they had planned. We offer a variety of loan options with great rates and no fees to help families make this investment with confidence.”
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Discover Student Loans is expanding its existing Rewards for Good Grades benefit to incoming freshmen who now may qualify for an additional cash reward based on their high school grades. This benefit is incremental to the existing cash reward students are eligible for, by earning good grades while in college which is a 1% cash reward for a 3.0 GPA or higher.
The new Parent Loan from Discover Student Loans allows parents, or other creditworthy individuals, to take out a loan on behalf of their student to cover the student’s higher education costs. As with all Discover student loans, Parent Loans have no fees and U.S.-based loan specialists are available to help 24/7.
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