US Cuts Student Loan Rates

Federal student loan borrowers who sign up for autopay can receive a temporary reduction of 1 percentage point on their interest rate. The discount starts July 1 and will last through June 30, 2028. Loan holders have until Sept. 30 to enroll in auto pay, if they aren't enrolled already, to qualify for the benefit. Only 40% of student loan borrowers in active repayment are enrolled in autopay today, down from over 80% before the pandemic, according to the U.S. Department of Education. The Trump administration announced on Thursday that it will offer federal student loan borrowers who sign up for autopay a reduction of 1 percentage point on their interest rate, starting July 1. Borrowers on autopay currently have access to a 0.25 percentage point discount. Federal student loan holders who aren't already enrolled in autopay have until Sept. 30 to sign up if they want to benefit from the...