These conditions and terms describe the eligibility and policies for the attention price decrease from the interest-only payment option. “You” means the consumer. “We” identifies Discover Bank.
Note: you are also eligible for the Auto Debit Reward if you choose an in-school repayment loan option during the application process. You can easily have the Auto Debit Reward, while signed up for the Auto Debit payment program for the agreed in-school repayment quantity throughout the in-school and elegance periods. Full interest and principal re payments is supposed to be debited whenever loan comes into the Repayment Period, as defined into the Promissory Note. See Auto Debit Reward conditions and terms below for enrollment and eligibility information.
Interest-Only Repayment Choice Rate Of Interest Discount
You can expect to get mortgage loan discount (0.35%) if, throughout the application process, you selected the interest-only payment choice and also make interest-only re payments through the in-school and elegance durations. You must be enrolled in school at least half-time at the time you submit your application to be eligible for the interest-only repayment option and discount if you are applying for a Bar Exam or Residency loan.