The Discover Student Loan Rewards for Good Grades program offers a 1% cash reward of your loan amount when you get at least a 3.0 grade point average during any academic term covered by the loan.
You are eligible if you submitted an application for a Discover Undergraduate, Health Professions, Law, MBA, or Graduate Loan on or after May 1, 2014, and received the loan (includes all new approved loans on or after May 1, 2014).
You must get at least a 3.0 GPA (or equivalent) during any academic term covered by the loan to qualify for a 1-time cash reward on each new Discover Student Loan.
To receive your reward, you must log in to your secure account at DiscoverStudentLoans.com/Reward to redeem your reward for Good Grades.
You must redeem your reward within 6 months after the academic term covered by the loan has ended, or 6 months after the loan’s final disbursement, whichever is later.
Please note that if the loan covers multiple academic terms, you may only redeem your reward after the end of the final academic term covered by the loan.
If an academic term accounts for multiple semesters, you can provide your GPA (or equivalent) for any semester during the academic term covered by the loan or the combined GPA (or equivalent) for the academic term.
The reward amount is a 1% cash reward of the disbursed principal balance on your student loan.
You must redeem your 1% reward in full in a single redemption transaction.
A check will be mailed to the existing U.S. permanent or temporary address that Discover has on file within 2 to 3 weeks after you complete and submit the redemption form.
You will be eligible for only 1 reward for each new Discover Student Loan.
If you are eligible for both the Discover Student Loan Rewards for Good Grades program and the Discover Student Credit Card Rewards for Good Grades Program, you must apply separately for each reward.