We provide loans to students at over 2,400 colleges and graduate schools across the country to help them cover up to 100% of school-certified costs. CFPB Settles with Discover Bank, the Student Loan Corporation and Discover Products for violating a consent order and other unlawful practices December 22, 2020 Consumer Financial Protection Bureau issued a consent order that Discover must pay at least $10 million to consumers, and $25 million as a penalty for their unfair acts and practices. $4.2 BILLION OF PRIVATE STUDENT LOANS AND THE . Learn more in the Discover Help Center. Pharmacology majors study the effect drugs have on the human body. Wondering how to handle your child leaving for college? The Student Loan Corporation and Discover Products, Inc., are affiliates of Discover Bank, and also engage in student loan servicing. Was hired as a 2 year fixed term employee to assist in the design, coding and testing of components of a new sub system built to extract data from a Legacy IBM main frame based student loan servicing system for migration to a state-of-the-art banking platform. Student Loans. § 5481(6)(B). We offer these benefits throughout the life of the loan: Our knowledgeable Student Loans Specialists are ready to help you 24 hours a day, 7 days a week. 1 Get a one-time cash reward for good grades. For variable interest rate loans, the 3-Month LIBOR is X as of X. To prevent excessive borrowing, we certify and disburse all undergraduate and graduate loan amounts through the school. Touch device users, explore by touch or with swipe gestures. However, please click below to find other schools and resources, and sign up for our newsletter to be kept informed of any updates. DISCOVER FINANCIAL SERVICES TO ACQUIRE . The Student Loan Corporation and Discover Products, Inc., are affiliates of Discover Bank, and … We're here anytime day or night to help you. Our lowest APR is only available to customers with the best credit and other factors. Beginning in 2010, Discover expanded its private student loan portfolio by acquiring more than 800,000 accounts from Citibank. When autocomplete results are available use up and down arrows to review and enter to select. International Student Loan has gathered this information as a resource for students, and this resource does not intend to imply a relationship between your school and our website or company. Unfortunately, we don’t have any available lenders for international student loans at Fortis Institute-Pensacola at this time. International Student Loan has gathered this information as a resource for students, and this resource does not intend to imply a relationship between your school and our website or company. Discover to Acquire Private Student Loans And The Ongoing Business Of The Student Loan Corporation Discover acquires The Student Loan Corporation expanding Discover’s market presence and origination capabilities in private student loans. Comparisons based on information obtained on lenders' websites or from customer service representatives and are based on student loans where students are the primary borrower as of March 2021. Cover up to 100% of your school-certified college costs including tuition, housing, books and more. This may cause the monthly payments to increase, the number of payments to increase or both. Track the status of your loan anytime. Learn about this college major to see if it is for you. Up to 100% of school-certified college costs are covered. The fixed interest rate is set at the time of application and does not change during the life of the loan. Discover Student Loans believes in responsible borrowing and encourages students to maximize scholarships, grants and other free financial aid before taking private loans. The Budgeting for college students should include these 5 essential items. Get the latest financial news from Citi, the worldwide leader in consumer and corporate banking. Get good grades. Explore strategies for coping with empty nest syndrome. Separately and immediately prior to the closing of Discover's transaction, SLC will sell $28 billion of assets to Sallie Mae and $9 billion of assets to Citibank. All of our Student Loan Specialists are US-based. Learn more about this expanding college major, including potential career paths, knowledge requirements and more. Under today’s order, Discover must pay at least $10 million in consumer redress and a $25 million civil money penalty. Get cash rewards for good grades. The Student Loan Corporation and Discover Products, Inc. are affiliates of Discover Bank, and are also service providers to Discover Bank within the meaning of 12 U.S.C. Manage your payments online. To protect your account security, you must update your browser as soon as possible. Although Discover is probably best known for its credit cards, Discover Student Loans is a division of Discover Financial Services that has been around for nearly 60 years. Learn more about how to pay for college. Learn more about Discover Student Loans interest rates. Secure access to your student loan account. You should always double-check directly with your school and lender to ensure that your school is eligible. Plus, undergraduate freshman borrowers who received at least a 3.0 GPA (or equivalent) during high school may qualify for an additional cash reward on their first undergraduate student loan. Touch device users, explore by touch or with swipe gestures. Discover Completes Acquisition Of The Student Loan Corporation. Discover Student Loans are made by Discover Bank, a trusted financial institution for 100 years. Borrowers with loans owned by the U.S. Department of Education (ED) automatically receive a new interest rate of 0% from March 13, 2020, through Sept. 31, 2021. On December 22, 2020, the Bureau issued a consent order against Discover Bank, The Student Loan Corporation, and Discover Products, Inc. (collectively, Discover). STAMFORD, Conn.-- (BUSINESS WIRE)--The Student Loan Corporation (NYSE:STU), a subsidiary of Citibank, N.A., and a leading originator and servicer of … Get paid. We noticed that you're using an old version of your internet browser to access this page. ELM provides a common, non-proprietary & open data exchange & disbursement system that seamlessly links the diverse computing platforms through … Aggregate loan limits apply. That includes no application, origination or late fees. You should always double-check directly with your school and lender to ensure that your school is eligible. When autocomplete results are available use up and down arrows to review and enter to select. At Discover Student Loans, we believe in responsible borrowing and encourage students to maximize scholarships, grants and other free … For students who need to borrow, we advise them to compare federal and private student loans to find the loans that best fit their needs. The legislature declared it necessary to create a state housing finance corporation to encourage the investment of private capital in residential Last Name We still need your last name. ELM Resources is the only not-for-profit mutual benefit corporation serving the student loan industry today. Help your student plan their college budget around school supplies, food, and more. The corporate culture is oriented towards social media and youth. Here is some advice for parents on how to help their college kid choose a major that will help them succeed. 2010 Discover signs strategic partnership with Softcard to build nationwide mobile payment network 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). Under the terms of the complex deals, Discover will pay $600 million for the Student Loan Corporation, in which Citigroup holds an 80 percent stake. Discover Bank, headquartered in Greenwood, Delaware, is an insured depository institution that provides and services private student loans. Zero fees, choice of fixed or variable interest rates and cash rewards for good grades. Students who get at least a 3.0 GPA (or equivalent) may qualify for a one-time cash reward on each new Discover undergraduate and graduate student loan. Discover Student Loans believes in responsible borrowing and encourages students to maximize scholarships, grants and other free financial aid before taking private loans. Lowest APRs are available for the most creditworthy applicants for undergraduate loans, and include an interest-only repayment discount and Auto Debit Reward.1, Learn more about your options as a cosigner, For college students seeking undergraduate degrees, For graduate students in master's and doctoral programs, For graduate students in health profession programs, For graduate students seeking master's degree in business school, For graduate students attending law school, For health profession students preparing for residency or internship, For parents or other creditworthy individuals, For consolidating your federal and private student loans. The Consumer Financial Protection Bureau (Bureau) has reviewed certain student-loan-servicing activities of Discover Bank, The Student Loan Corporation, and Discover Products, Inc. RIVERWOODS, Ill., Jan 03, 2011 (BUSINESS WIRE) -- Discover Financial Services (NYSE:DFS) today announced the completion on Dec. 31, 2010, of its acquisition of The Student Loan Corporation (SLC). At Discover Student Loans, we believe in responsible borrowing and encourage students to maximize scholarships, grants and other free financial aid before taking loans. Learn more in the Discover Help Center. The deal was finalized on December 31, renamed Discover Student Loans, and expanded DFS's market presence and origination capabilities in private student loans. The Bureau previously issued a consent order against Discover in July 2015 (2015 Order). The Student Loan Corporation and Discover Products, Inc., are affiliates of Discover Bank, and also engage in student loan servicing. We also provide post-graduate loans for law students and health professions students as well as private consolidation loans. Acquisition of Student Loan Corporation. Now freshmen can get a student loan with even more rewards for good grades2. Discover Student Loans are made by Discover Bank, a trusted financial institution for 100 years. Lowest APRs shown for Discover Student Loans are available for the most creditworthy applicants for the Discover Private Consolidation Loan and include a … Access important notifications and letters online. First, we need a few details to verify your identity. Find need-to-know information on pre law requirements, salary expectations and the steps to becoming a lawyer with help from Discover Student Loans. ONGOING BUSINESS OF THE STUDENT LOAN CORPORATION - Transaction expected to provide earnings accretion of approximately $.09 per share in 2011 - Acquisition expands Discover’s market presence and origination capabilities in private student loans Selecting a college major can be a challenge for many students. About Discover Student Loans. Private student loans from Discover can cover up to 100% of school-certified college and graduate school costs. The Bureau previously issued a consent order against Discover in July 2015 (2015 Order). Under today’s order, Discover must pay at least $10 million in consumer redress and a $25 million civil money penalty. Compare Federal and Private Student Loans. Discover Financial Services (NYSE:DFS) today announced that it has reached an agreement to acquire The Student Loan Corporation ("SLC") for $600 million, or $30 per share. For students who need loans, we offer affordable private student loans to pay for college and graduate school. Plus a 0.25% rate reduction when you're enrolled in automatic payments. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. Limitations apply. Discover Bank offers a variety of financial products, including FDIC-insured savings accounts, credit cards, personal loans and student loans. PHEAA conducts its student loan servicing operations for federally-owned loans as FedLoan Servicing. The student loans division also offers private undergraduate, graduate, MBA and health professional, law, residency and bar exam loans. Considering a career in law? Under today’s order, Discover must pay at least $10 million in consumer redress and a $25 million civil money penalty. “The private student loan business is an important part of Discover’s direct banking strategy, and this acquisition will enhance our competitive position in private student loan originations,” said David Nelms, chairman and chief executive officer of Discover. To protect your account security, you must update your browser as soon as possible. Your APR will be determined after you apply. See Terms and Conditions for complete details. Learn more about pharmacology as a major and potential professions with help from Discover Student Loans. In 2010, Discover Bank acquired The Student Loan Corporation, increasing Discover's commitment to offering affordable private student loans. We noticed that you're using an old version of your internet browser to access this page. Discover Bank is an Illinois-based depository institution. The acquisition included SLC's ongoing private student loan business and private student loans and other assets totaling $4.2 … https://www.discoverstudentloans.com/servicing/apply/borrower/app. The Student Loan Corporation and Discover Products, Inc., are affiliates of Discover Bank, and also engage in student loan servicing. For students who need to borrow, we advise them to compare federal and private student loans to find the loans … Biological and agricultural engineering is the science of food production, processing and distribution. Did you know that you don’t need to be an education major to become a teacher? Computer science majors study how computers process, store and solve information. Discover Bank, the Student Loan Corporation, and Discover Products, Inc. CFPB took action against Discover Bank and its affiliates for illegal private student loan servicing practices. Discover Financial Services (NYSE:DFS) today announced the completion on Dec. 31, 2010, of its acquisition of The Student Loan Corporation (SLC). Discover Bank offers a variety of financial products, including FDIC-insured savings accounts, credit cards, personal loans and student loans. It will be based on your credit history, which repayment option you choose and other factors, including your cosigner’s credit history (if applicable). You'll be unable to log in to Discover.com in the future if your browser has not been updated. There are a number of other majors you can pursue that can help you enrich your teaching career. Aggregate loan limits apply. Its student loan affiliates – The Student Loan Corporation and Discover Products, Inc. – are also charged in today’s action. You'll be unable to log in to Discover.com in the future if your browser has not been updated. The Student Loan Corporation and Discover Products, Inc., are affiliates of Discover Bank, and also engage in student loan servicing. 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