A student student sits in a lecture hall while class is being dismissed at the University of Texas at Austin on Feb. 22, 2024 in Austin, Texas.
Brandon Bell | Getty Images
The Trump administration announced on Thursday that it will offer federal student loan borrowers who sign up for autopay a 1-percentage-point reduction on their interest rate, starting July 1.
Borrowers on autopay currently have access to a 0.25-percentage-point discount.
Federal student loan holders who aren’t already enrolled in autopay have until Sept. 30 to do so, if they want to benefit from the lower interest rate. The discount will last through June 30, 2028.
This is a breaking news story. Please check back for updates.
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