Nicholas Kent

Student-loan borrowers in the SAVE repayment plan began receiving notices on July 1 to switch to new repayment plans within 90 days. Servicers like EdFinancial and Nelnet are notifying borrowers in waves, with some having until May 2027 to transition. The SAVE plan was eliminated via a court settlement, and borrowers are being directed to the Repayment Assistance Plan (RAP) or standard repayment options.

The Education Department announced a 1% reduction in federal student loan interest rates for borrowers with Direct Loans issued after July 1, 2012, who are enrolled in or sign up for automatic payments. The rate cut excludes nearly 9 million borrowers in default, who must first regain good standing to qualify. The change is temporary, lasting through June 30, 2028.

The U.S. Department of Education will temporarily reduce student loan interest rates by one percentage point for borrowers enrolled in auto pay from July 2026 to June 2028. Current auto pay users will receive an additional 0.75 percentage point reduction, totaling a 1% cut, to help accelerate debt repayment and improve the federal loan portfolio's health.

The U.S. Education Department will temporarily reduce student loan interest rates by one percentage point for borrowers using auto pay from July 2026 to June 2028. Existing auto pay users will receive an additional 0.75 percentage point reduction, and the policy aims to help borrowers pay down balances and strengthen the federal loan portfolio. The benefit is estimated to cost the agency $6 billion and applies to loans originated after July 1, 2012.

Federal student loan borrowers enrolled in automatic payments will receive a 1% interest rate reduction starting July 1, 2026, through June 30, 2028. Two new repayment plans—the income-driven Repayment Assistance Plan and Tiered Standard repayment plan—will also launch July 1, offering income-based payments and fixed-term options.

The U.S. Education Department will temporarily reduce federal student loan interest rates by one percentage point for borrowers enrolled in auto pay from July 1, 2026, through June 30, 2028. Borrowers already using auto pay will automatically receive an additional 0.75 percentage point reduction, building on an existing 0.25 percentage point discount. The initiative aims to help borrowers pay down balances and improve the federal loan portfolio's health.

The U.S. Education Department will temporarily reduce federal student loan interest rates by one percentage point for borrowers enrolled in auto pay from July 1, 2026, through June 30, 2028. Borrowers already using auto pay will receive an additional 0.75 percentage point reduction, with the change aimed at helping borrowers pay down balances and strengthen the loan portfolio.

The U.S. Education Department will temporarily reduce federal student loan interest rates by one percentage point for borrowers using auto pay from July 2026 to June 2028. Borrowers already enrolled in auto pay will automatically receive an additional 0.75 percentage point reduction, totaling a 1% cut. The initiative aims to help borrowers pay down balances faster and aligns with broader changes to the federal student loan system.

The U.S. Education Department will temporarily reduce interest rates for federal student loan borrowers enrolled in auto pay by 1% from July 1, 2026, through June 30, 2028. Borrowers already using auto pay will receive an additional 0.75% reduction, with the benefit costing the agency $6 billion. The announcement precedes broader changes to the federal student loan system, including new repayment plans and loan limits.

The U.S. Education Department will temporarily reduce student loan interest rates by 1 percentage point for borrowers using auto pay from July 2026 to June 2028. Existing auto pay users will receive an additional 0.75 percentage point reduction, with the benefit estimated to cost $6 billion. The announcement precedes broader changes to federal student loan policies starting July 1, including new repayment plans and loan limits.

The Education Department under President Donald Trump announced a 1% interest-rate reduction for federal student-loan borrowers who enroll in autopay by September 30. Borrowers already in autopay receive an additional 0.75 percentage point reduction, with benefits lasting until June 30, 2028. The policy aims to encourage timely repayments and improve the federal loan portfolio's health.

The US Education Department claims hundreds of colleges face financial distress, with many unlikely to survive the decade. Under Secretary Nicholas Kent advocates for accelerating college mergers, supporting private capital's role, and implementing AI-driven efficiencies to reduce student and family costs.

The Trump administration shifted from targeting individual colleges with investigations and funding cuts to proposing broad federal rules affecting all higher education. New regulations from the Education Department, Office of Management and Budget (OMB), and General Services Administration (GSA) aim to influence funding, grant allocations, and institutional policies, including diversity, equity, and inclusion (DEI) initiatives. Federal judges previously blocked funding cuts at Harvard and UCLA, but the administration continues its efforts to reshape academic policies.

The Trump administration's Department of Education proposed a new accountability system requiring colleges to prove graduates earn more than high school graduates to maintain federal funding. The policy aims to address rising tuition costs and student debt by tying financial aid to workforce readiness, supported by Southeastern University's president as a necessary reset for higher education.