U.S. Department of Education Extends 1% Interest Rate Reduction for Federal Student Loan Borrowers on Autopay

The U.S. Department of Education has announced an extension of a one-percent interest rate reduction for certain federal student loan borrowers who enroll in automatic payments. Borrowers have until the end of the year to sign up for this program, which will maintain the reduced rate through June 2028. Those already using autopay will automatically qualify if they remain in good standing.