{
  "id": 10717740,
  "title": "Student-loan borrowers now have 3 more months to enroll in a temporary repayment benefit",
  "url": "https://urgent.news/2026/09/29/student-loan-borrowers-now-have-3-more-months-to-enroll-in-a",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-29T14:45:18.000Z",
  "source": {
    "name": "Business Insider",
    "slug": "business-insider",
    "url": "https://www.businessinsider.com/student-loan-borrowers-3-more-months-autopay-repayment-interest-rates-2026-9"
  },
  "original_language": "en",
  "account": "The U.S. Department of Education has extended the deadline for student-loan borrowers to enroll in an interest-rate reduction benefit. Borrowers now have until December 31, 2026, to sign up for autopay and secure a 1-percentage-point interest rate reduction. The original deadline was set for September 30, 2025. The temporary reduction, which will last until June 30, 2028, is already benefiting roughly 2 million borrowers who have enrolled. Undersecretary of Education Nicholas Kent expressed optimism about the positive impact this benefit is having on repayment rates and the overall health of the federal student loan portfolio. The interest rate reduction is automatically applied to borrowers currently enrolled in autopay, with an additional three-quarters of a percentage point cut for those borrowers. Direct federal loans issued after July 1, 2012, are eligible for the benefit, provided they have not been defaulted on. The interest rates on federal student loans have been increasing, causing many borrowers' balances to exceed their original borrowing amounts. The Department of Education introduced this benefit as part of President Trump's repayment overhaul, aimed at making the Repayment Assistance Plan more affordable for borrowers. However, some borrowers have reported higher monthly bills under the RAP plan following the elimination of the Biden-era SAVE plan, which offered more favorable payment terms.",
  "summary": "The Education Department extended the deadline for student-loan borrowers to enroll in autopay and get a 1-percentage-point interest rate reduction.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}