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Education Offers 1-Point Autopay Student Loan Rate Cut

9/5/2026

Summary

Story summary

U.S. Department of Education offers a 1-percentage-point interest cut for autopay enrollees signing up by September 30.
The reduction starts, runs through June 30, 2028, adding 0.75% to the existing autopay cut.
Borrowers in default, deferment or forbearance cannot get the rate reduction.
Undersecretary Nicholas Kent said the incentive should raise repayment rates and improve loan-portfolio health.
Rep. Anna Paulina Luna (R-FL) posted on X that Congress should cap student-loan interest at 2%.

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Story summary

U.S. Department of Education offers a 1-percentage-point interest cut for autopay enrollees signing up by September 30.
The reduction starts, runs through June 30, 2028, adding 0.75% to the existing autopay cut.
Borrowers in default, deferment or forbearance cannot get the rate reduction.
Undersecretary Nicholas Kent said the incentive should raise repayment rates and improve loan-portfolio health.
Rep. Anna Paulina Luna (R-FL) posted on X that Congress should cap student-loan interest at 2%.