Student Loan Borrowers Can Get 1% Interest Rate Cut But Must Act By Wednesday: Here’s How
Eligible federal student loan borrowers can secure a 1% interest rate reduction by enrolling in autopay by Wednesday. The Department of Education extended this deadline to provide more time for borrowers to lock in the discount. This temporary rate reduction applies to eligible federal Direct Loans through June 2028. Borrowers who are already enrolled in autopay are not required to sign up again to receive the benefit.
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- ✓ Federal student loan borrowers can receive a 1% interest rate reduction by signing up for autopay.
- ✓ The Department of Education extended the deadline for borrowers to enroll in autopay for this discount.
- ✓ The temporary discount applies to eligible federal Direct Loans through June 2028.
- ✓ Borrowers already enrolled in autopay do not need to sign up again.
What changed
The Trump administration extended the autopay enrollment deadline for the 1% interest rate discount.
Live updates
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Federal Student Loan Borrowers Have Until Wednesday for Interest Rate Cut
Eligible federal student loan borrowers can secure a 1% interest rate reduction by enrolling in autopay by Wednesday. The Department of Education extended this deadline to provide more time for borrowers to lock in the discount. This temporary rate reduction applies to eligible federal Direct Loans through June 2028. Borrowers who are already enrolled in autopay are not required to sign up again to receive the benefit.
Why it matters
The discount comes amid broader changes to student loan aid under the Trump administration. Borrowers are currently facing deadlines for switching repayment plans. The autopay incentive aims to reduce the overall cost of federal debt for compliant borrowers.
What is confirmed
- Federal student loan borrowers can receive a 1% interest rate reduction by signing up for autopay.
- The Department of Education extended the deadline for borrowers to enroll in autopay for this discount.
- The temporary discount applies to eligible federal Direct Loans through June 2028.
- Borrowers already enrolled in autopay do not need to sign up again.
Still unconfirmed
- The deadline for the interest rate discount is December 31.
- Trump's dismantling of student loan aid is crashing down on debtors this week.
What to watch next
- Confirmation of the specific Wednesday date for the deadline
- Updates on repayment plan switching deadlines
confidence 90%Sources used for this update (17)
- Forbes — Student Loan Borrowers Can Get 1% Interest Rate Cut But Must Act By Wednesday: Here’s How
- WTHR — Just days left for student loan borrowers to get interest rate discount for making this one change
- Truthout — Trump’s Dismantling of Student Loan Aid Is Crashing Down on Debtors This Week
- Business Insider — Student-loan borrowers face a major deadline for switching repayment plans this week
- FOX 13 Tampa Bay — Deadline looms for student loan borrowers to cut their interest rate
- WTHR — Federal student loan borrowers: Sept. 30 deadline for autopay discount, FAFSA 2027-28 now open
- USA Today — Last call for student loan borrowers to lock in added discount
- www.wafb.com — Federal student loan borrowers get more time to lock in 1% interest rate discount
- en.wikipedia.org — Student - Wikipedia
- www.dictionary.com — STUDENT Definition & Meaning | Dictionary.com
- dictionary.cambridge.org — STUDENT | English meaning - Cambridge Dictionary
- www.student.com — Student Accommodation Made Easy | Student.com
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