Discover Student Loans
Discover Student Loans

Discover® is no longer accepting new student loan applications

Applications received on or before January 31, 2024, 11:59 pm CT will be processed as usual.

Servicing Transfer FAQs

General

Nelnet, Inc. (NYSE:NNI) is a publicly traded, diversified company with decades of experience in the student loan industry focused on providing superior experiences for their borrowers. Firstmark Services is their borrower-facing brand, and that’s who you’ll see as your loan servicer on your new online account and all communications.

Firstmark Services
Payments Firstmark Services
PO Box 2977
Omaha, NE 68103-2977
Correspondence Firstmark Services
PO Box 82522
Lincoln, NE 68501-2522
Email Customer.Service@FirstmarkServices.com
Website FirstmarkServices.com
Phone 1-888-295-0910
Discover Student Loans
Payments Discover Student Loans
PO Box 71053
Philadelphia, PA 19176-6053
Correspondence Discover Student Loans
PO Box 30948
Salt Lake City, UT 84130-0948
Website Contact Us
Phone 1-800-788-3368

Pre-Transfer

The servicing of your Discover student loan(s) will be transferring to Firstmark. Once your loan(s) transfers, you’ll contact Firstmark for questions, payments, and anything else related to your loan(s).

Prior to your loan(s) transferring, you will receive several communications from Discover with important details including your loan(s) transfer date, servicer contact information, account updates, and next steps. These communications will be sent around 60 days, 30 days, and 15 days prior to your transfer date. 

Most loans will transfer except for:

  • Paid-off loans
  • Charged-off loans

The communications from Discover will include each loan that is transferring.  

Automatic payments will transfer to Firstmark with these exceptions:

  1. Loan(s) in a repayment status with both the borrower and cosigner enrolled in automatic payments for the same account. Firstmark allows only one automatic payment authorization per account. Automatic payments will be canceled for cosigners at the time of transfer. This cancellation will not impact the Auto Debit Reward interest rate discount as long as an authorized payer continues to be enrolled in automatic payments.

  2. Loan(s) in a repayment status with a minimum payment due plus an additional amount. If your loan(s) is set up for automatic payments with Discover for the minimum payment due plus an additional fixed amount, your automatic payments will automatically transfer to Firstmark, but for only the minimum payment due. The additional amount that exceeds the minimum payment will not transfer. For example, if your minimum payment is $100 but you have your automatic payment set up to debit $150, only the $100 will transfer to Firstmark. You can adjust your auto debit amount and/or set up additional payments after you receive your welcome communications from Firstmark.

  3. Loan(s) in a status with no minimum payment due (e.g., grace, deferment, forbearance) but have an additional amount set up. Firstmark does not offer automatic payments to loans in a status with no minimum payment due, but you can still make one-time payments in your FirstmarkServices.com account. At the time of transfer, Discover will cancel your automatic payments for these loans and remove the 0.25% interest rate reduction. You will receive a credit equivalent to the 0.25% interest rate reduction you would have received from the date of the cancellation until your scheduled repayment date. Firstmark will apply this credit within 60 days after your account transfers. 

Adjustments or cancellations will happen on or around your transfer date. After your loan(s) transfers, visit FirstmarkServices.com to enroll in or modify your automatic payments using the information included in your welcome communications from Firstmark.

No, you will receive paper communications from Firstmark until you sign up to receive electronic communications from them. Enrollment instructions will be included in the welcome communications from Firstmark.

To help ensure you receive communications related to the transfer, log in to your Discover Student Loans account and verify/update your contact information.

No. This transfer does not affect the terms and conditions of your loan(s). Your rights and responsibilities, as defined in your promissory note, will remain the same.

Existing borrower benefits will remain on your loan(s) after servicing has transferred to Firstmark.  

Please continue to contact Discover until your transfer date. After your loan(s) transfers, Firstmark will service your loan(s) and be your point of contact.

Please continue to make payments to Discover until your transfer date. Once your loan(s) transfers, you will receive welcome communications with instructions on how to make payments to Firstmark. 

Your loan(s) will transfer at least 7 days before your next due date. 

Yes, we will send communications to your cosigner as well.

Post-Transfer

Once your loan(s) transfers, you will receive welcome communications from Firstmark with helpful information and instructions on next steps.

Once your loan(s) transfers, you will receive welcome communications from Firstmark with instructions on how to set up your new account and make payments.

Once your loan(s) transfers, you’ll receive welcome communications from Firstmark with instructions on how to set up your new account at FirstmarkServices.com.

Once your loan(s) transfers, you will receive welcome communications with instructions on how to make payments to Firstmark. You can make payments by mail, phone, or online.

Payments

Firstmark Services
PO Box 2977
Omaha, NE 68103-2977

 

Website

FirstmarkServices.com

 

Phone

1-888-295-0910

Discover will forward any payments received on or after your transfer date to Firstmark for a short period of time after the transfer. Please make updates to your bill pay preferences now that Firstmark is your servicer. 

Once your loan(s) transfers, you’ll receive welcome communications from Firstmark with instructions on how to set up your new account at FirstmarkServices.com, including your automatic payment and bill pay preferences.

After your transfer date, call Firstmark at 1-888-295-0910 to change your due date.   

If your student loan(s) is in repayment, Firstmark will strive to keep your due date the same. However, if Firstmark needs to adjust your due date, they will communicate that and any other changes in your monthly statement and in your FirstmarkServices.com account.

Your loan(s) status at the time of transfer should remain the same. 

The Discover Student Loans website is expected to remain available through April 2025.

After servicing of your loan(s) has transferred, Firstmark will provide instructions to set up your new online account. You can access FirstmarkServices.com to view your billing statements, payment history, and related documents for your loan(s). For tax documents from 2023 or earlier, please call or email Firstmark.

 

Once servicing of your loan(s) has transferred, only billing statements and tax documents issued by Discover will remain available in your Discover Student Loans account for a short period of time.

 

Document Type Firstmark Services Discover Student Loans
Payment History Yes No
Statements Yes Yes
Discover Tax Documents Yes Yes
Related Documents Yes No

If there is reportable interest paid on your certified loans(s) while serviced by Discover in 2024, Discover will mail IRS Form 1098-E to the borrower by January 31, 2025. Firstmark will provide IRS Form 1098-E to the borrower for reportable interest paid on certified loan(s) while Firstmark is servicing your loan(s). 

After the transfer date, Discover will make a final report to the consumer reporting agencies that will reflect a $0 balance on your loan(s). Firstmark will then begin furnishing information to the consumer reporting agencies for your loan(s) under a new tradeline. Please allow processing time for these updates to be made.

Not all loans will be transferred to Firstmark. If your loan(s) will be transferred, you should receive a communication by October 1, 2024. Call Discover at 1-800-211-9112 after that time if you haven't received a communication from Discover or Firstmark.  

If you have questions about a student loan that wasn’t transferred or about a recent letter from Discover, please call
1-800-211-9112. Otherwise, please call Firstmark at 1-888-295-0910.  

Student loan resources for students and parents