Student-loan borrowers can act now to become eligible for a new repayment benefit

The Education Department announced a 1% student-loan interest-rate deduction for borrowers who enroll in autopay starting July 1. This new repayment benefit allows eligible student-loan borrowers to reduce their interest costs by utilizing the automatic payment system. To secure this specific financial advantage, borrowers must ensure their enrollment in autopay is completed by the end of September. This initiative provides a limited window for borrowers to act and qualify for the government interest cut.