Student-loan borrowers have more time to receive a lower interest rate on their payments.
The Department of Education announced on Tuesday that it is extending the deadline for borrowers to enroll in autopay, and thus receive a 1-percentage-point interest rate reduction, to December 31, 2026.
The enrollment deadline was previously set for September 30.
The interest rate reduction is temporary and will last through June 30, 2028. The department said in a press release that since it first announced the benefit in June, nearly 2 million borrowers have enrolled.
“We are excited to see millions of borrowers take advantage of this temporary benefit…
