Episode
Auto Pay Drops Interest Rate
- Published
- Jun 18, 2026
- Duration seconds
- 101
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Summary
Starting July 1, federal student loan borrowers who enroll in auto pay will get a one-percentage-point interest rate drop — a major incentive to pay down debt faster. This temporary bonus, running through June 30, 2028, adds to the existing quarter-point discount for auto pay users. The program, costing the government $6 billion, is part of broader student loan reforms including new grad loan limits and simplified repayment plans. But with auto pay enrollment plummeting from 83% in 2019 to just 40% last year, many borrowers are falling behind — and those affected by the old SAVE plan will soon be required to choose a repayment plan by July 1. To lock in the discount, borrowers must sign up by September 30, 2026, and stay enrolled. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/f6540c16a0ecc5ae