Rewards for Good Grades

These Terms and Conditions describe the eligibility and redemption policy for the 1% cash reward for good grades. "You" refers to the borrower. "We" refers to Discover Bank.

Note: If you are eligible for both the Discover Student Loans Rewards for Good Grades and Discover it for Students credit card, you must apply separately for each reward.

Reward Eligibility

You will be eligible to receive a 1% cash reward 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.
• Your Grade Point Average (GPA) for any academic term covered by the loan is at least a 3.0 (or equivalent). Log in to find your grade eligibility by school and program.
• You have not already redeemed the reward for the eligible student loan.
• You log in to your secure account to redeem your reward within 6 months after the academic term covered by the loan has ended, or six months after the loan's final disbursement; whichever is later. Please note: 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.
• There are no pending disbursements on your eligible student loan.

You will be eligible for only one reward for each new Discover student loan.

Reward Amount

The reward amount is a 1% cash reward of the disbursed principal balance on your student loan.

It is your responsibility to notify us if you do not receive an expected 1% cash reward, once you complete and submit the redemption form.

A reward may be considered taxable income. We recommend you consult a tax professional for tax advice.

Reward Redemption

To redeem the reward for an eligible loan, you must log in and submit the redemption form within 6 months after the academic term covered by the loan has ended, or six months after the loan's final disbursement; whichever is later. You must provide your GPA (or equivalent). We may request additional documentation to verify the GPA (or equivalent) you provide on the redemption form.

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.

You must redeem your reward in full in a single redemption transaction. A check will be mailed to the existing US permanent or temporary address we have on file within two to three weeks after you complete and submit the redemption form.

Changes to These Terms and Conditions

These Terms and Conditions are subject to change with notice. We may change them at any time including, but not limited to, changing the redemption methods or imposing additional conditions.