US Education Department offers two-year trim on student loan interest rates

By: Shauneen Miranda

Outlets: DC Bureau (States Newsroom)

Published: June 18, 2026

Words: 497

Last Updated: 1 month ago

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WASHINGTON — The U.S. Department of Education will temporarily reduce interest rates for federal student loan borrowers enrolled in auto pay starting July 1, the agency announced Thursday.

Borrowers who enroll in auto pay — the optional feature that allows a borrower to have their monthly loan payment automatically deducted from their checking or savings account — will see a reduction in their interest rate by one full percentage point from July 1, …

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