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Autopay Enrollees to Temporarily Get Lower Interest Rates
Starting July 1, federal student loan borrowers who enroll in autopay will pay a lower interest rate on their loans over the next two years, the Education Department announced Thursday. Currently, borrowers on autopay get a 0.25-percentage-point reduction, but now ED will knock a full percentage point off their interest rates. The benefit will be given to those already signed up for autopay or who opt in to it before Sept. 30 of this year, Education Under Secretary Nicholas Kent told reporters on a call. It will expire June 30, 2028.
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npr.org
Student loan borrowers will get an interest rate cut if they sign up for auto pay
The Trump administration wants to jumpstart student loan repayment, with federal student loan debt approaching $2 trillion.
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forbes.com
Student Loan Borrowers Can Lower Their Interest By 1% Through 2028—Here’s How
Borrowers only have until the end of September to ensure they get the benefit.
