Discover Student Loans Marks Three-Year Anniversary
04 Agosto 2010 - 2:08PM
Business Wire
Discover Student Loans is celebrating its third anniversary by
reducing its lowest eligible interest rate to 3.75 percent to help
families cope with the rising costs of higher education, cutbacks
in available scholarships and increased competition for shrinking
public funds.
Since Discover Student Loans entered the market in July 2007,
the average published tuition and fees have increased by 13.5
percent at public four-year colleges and universities for in-state
students and are up 10.8 percent at private colleges, according to
the College Board. This year, the National Association of Student
Financial Aid Administrators says that many states, charities and
colleges have already cut or plan to cut their 2010 scholarship
budgets.
Discover Student Loans has grown steadily over the past three
years when many others discontinued student lending.
“We are committed to providing students and families with a
simple and affordable solution to help them pay for school,” says
PK Parekh, director and general manager of Discover Student Loans.
“We believe in responsible lending and encourage students and their
families to first consider free financial aid, family assistance
and personal savings, and then federal loans before turning to
private loans.”
In its first three years, Discover Student Loans has already
assisted more than 200,000 students with $3 billion in loans.
For more information on Discover Student Loans, visit
DiscoverStudentLoans.com.
About Discover
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 operates the Discover card, America's cash rewards
pioneer, and offers personal and student loans, online savings
accounts, certificates of deposit and money market accounts through
its Discover Bank subsidiary. 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 www.discoverfinancial.com.
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