automatic payments
Coverage of automatic payments in the Nexus archive.
- Long-waited relief headed to thousands of student loan borrowers
An appeals court ruled that the Education Department must forgive over 170,000 borrowers misled by for-profit schools, clearing $23 billion in debt relief and expanding eligibility to 450,000 borrowers. Federal student loan borrowers enrolled in automatic payments will receive a 1% interest rate reduction starting July 1, 2026, through June 30, 2028.
- Here's who qualifies for the Trump adminstration's student loan rate cut
The Trump administration's temporary student loan rate cut applies to eligible federal Direct Loan borrowers who enroll in automatic payments. The discount is limited to those meeting specific criteria outlined in the policy.
- Education Department cuts student loan interest rate
The Education Department will reduce student loan interest rates by 1 percent for borrowers enrolled in automatic payments starting July 1, effective through June 30, 2028. Borrowers must enroll in auto pay by Sept. 30 to qualify.