Discover Student Loans Consolidation Disclosures
1 Get a variable interest rate from 3.87% APR to 7.12% APR (3-Month LIBOR + 2.49% to 3-Month LIBOR + 5.74%) for either a 10-year or 20-year repayment term. Or lock in a fixed interest rate from 5.24% APR to 8.24% APR for a 10-year repayment term or from 5.49% APR to 8.24% APR for a 20-year repayment term. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable Margin percentage. The margin is based on your credit evaluation at the time of application and does not change. For variable interest rate loans, the 3-Month LIBOR is 1.625% as of January 1, 2018. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. The lowest listed APRs include a 0.25% rate reduction for automatic payments. Visit Discover Student Loans for more information, including up-to-date interest rates and APRs.
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