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Discover Student Loans launched 1% Cash Reward for Good Grades – a unique new program that provides both undergraduate and graduate students who achieve at least a 3.0 grade point average (GPA) or equivalent with a cash reward. The one-time reward is equal to a full one percent of the loan amount of each new Discover student loan.
Students are eligible for the reward if they submit an application for a Discover Undergraduate, Health Professions, Law, MBA or Graduate student loan on or after May 1, 2014 and earn a 3.0 or better GPA (or equivalent) during the academic term covered by the loan. Eligible students must redeem their reward within 6 months after the end of the academic term covered by the loan, and they will receive their reward via check.
“Discover’s new 1% Cash Reward for Good Grades aligns with our philosophy of providing support and giving back to our customers. We are offering an incentive and reward to students who study hard, earn good grades and make an investment in their future,” said Danny Ray, president of Discover Student Loans. “We strive to help families and students with their educational goals by assisting them every step of the way, whether through understanding the loan process, finding scholarships or rewarding students for a job well done.”
The new 1% Cash Reward for Good Grades is part of Discover’s goal of providing responsible options to help students pay for college and graduate school. All Discover Student Loans have zero fees, including zero origination fees, zero prepayment fees, zero late payment charges and zero returned payment fees. Discover Student Loans cover up to 100 percent of school-certified college and graduate school costs, including tuition, housing, books and living expenses.
To get more information about Discover’s new 1% Cash Reward for Good Grades, students and parents can visit
Discover Financial Services (NYSE: 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 issues the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. It operates the 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