Student loan borrowers with automatic payments will receive a temporary 1% interest rate cut starting July 1, 2026. The interest rate discount, up from the current .25 percentage points, aims to encourage payment and help borrowers pay down their balances more quickly. Borrowers can enroll in auto-pay until September 30, 2026, to qualify for the two-year discounted rate. The rate cut will expire on June 30, 2028.
Original Article Source Link:
https://www.npr.org/2026/06/18/nx-s1-5863085/student-loan-auto-pay-discount