Student loan borrowers have more time to reduce their interest rate
NEW YORK (AP) — Student loan borrowers now have until the end of 2026 to enroll in auto pay and have their interest rate reduced by 1%. The original deadline was Sept. 30, but the U.S. Department of Education extended it to give borrowers more time to enroll. The rate reduction will last through June 2028. Borrowers who currently use auto pay already receive an interest-rate discount of 0.25%, so the new reduction takes off just 0.75%. This temporary benefit is meant to support borrowers, along with those who are returning to repayment, and ensure they can stay on top of the new ...