Discover Tailors New Loans for Bar Exam and Residency

Discover Tailors New Loans for Bar Exam and Residency

Post-Graduate Loans Add to Discover's Growing Suite of Student Loan Options

RIVERWOODS, Ill.--(BUSINESS WIRE)-- Discover Student Loans, the third-largest private student lender in America, today announced new post-graduate loans for students preparing for the bar exam or entering a health profession residency program or internship. These loans are the latest additions to the company's growing suite of student loan products, which includes undergraduate, health professions, MBA, law and graduate loans.

When it comes to furthering education, students may have limited financial resources available to pay for post-graduate professional training since federal loans cannot be used to cover these expenses. Discover designed these new loans to help give students access to loan options so they can continue pursuing their careers. These new loans include:

  • Fixed rates as low as 6.79% APR

  • Variable rates as low as Prime Index + 0.00% (currently 3.25% APR)

  • No payments required while enrolled in school at least half-time or for 9 months following graduation

  • 0.25% interest rate reduction while enrolled in automatic debit payments

Discover also recently eliminated late payment charges and returned payment charges for all new loans, and Discover's U.S. based student loan specialists provide 24/7 customer service.

"Training and experience are crucial components of the education process, particularly for graduate students in law and health professions programs. Our new bar exam and residency loans are designed to help students pursue these programs," said PK Parekh, vice president of Discover Student Loans. "Our goal is to give students affordable loan options that enable them to enter the workforce as skilled professionals."

The Discover Bar Exam Loan covers bar exam preparation classes and living expenses for students who have graduated within the past six months, or who are enrolled in their final year in a graduate law degree program. The Discover Residency Loan covers residency, internship, relocation and board exam review expenses for students who have graduated within the past year, or who are enrolled in their final year in one of the following graduate health professions programs: allopathy, dentistry, nursing, occupational therapy, optometry, osteopathy, pharmacy, physical therapy, physician assistant, podiatry and veterinary medicine.

For more information, visit or call 1-877-728-3030 anytime, 24/7 to speak with a student loan specialist.

About Discover

Discover Financial Services (NYS: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit

Rob Weiss, 224-405-6304
Abbe Kalina, 224-405-5175

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