Federal Student Loan Borrowers Face Autopay Discount Changes, Rate Questions
Federal student loan borrowers who utilize automatic payments are encountering a temporary alteration in their interest rate discounts. This shift, coupled with ongoing concerns about new loan pricing and evolving repayment strategies, is creating uncertainty for individuals managing their educational debt. The U.S. Department of Education has communicated that the standard 0.25 percent interest rate […]
Education Department Reduces Student Loan Autopay Interest Benefit to 1 Percent
The U.S. Department of Education announced it will reduce the interest rate benefit for federal student loan borrowers who use automatic payments. Effective July 1, the reduction will be lowered to 1 percentage point, a decrease from the current benefit. This temporary measure is scheduled to remain in place through June 30, 2028. Borrowers who […]