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Student Loans Get a 1% Interest Break

Student Loans Get a 1% Interest Break

Published 6 hours ago
Description

Student loan borrowers get a major financial boost starting July 1: sign up for autopay and slash your interest rate by 1%, up from the previous quarter percent. This incentive aims to revive repayment habits after pandemic-era drops — autopay usage plummeted and now sits at just 40%. With millions at risk of default and collections resuming, this discount could be a lifeline. Existing autopay users will see an extra 0.75% off until June 30, 2028. Plus, the SAVE plan is being phased out, replaced by a new income-driven plan and extended standard repayment options — giving borrowers more flexibility than ever.

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