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Government lowers student loan interest with auto-pay
Federal student loan borrowers enrolled in auto-pay will receive an additional 0.75% interest rate reduction, lowering their monthly interest by 1% until June 2028. This benefit applies automatically to those with loans originating after July 1, 2012, encouraging automatic payments amid new repayment plan options introduced by recent legislative changes. The announcement comes as the federal government implements significant adjustments to student loan programs, including new repayment plans and restrictions on forgiveness and forbearance options.
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