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BUSINESSJun 25 · 14:42 UTCWSOC ABC CHARLOTTENatalie Dreier, Cox Media Group National Content Desk

Department of Education announces discount for student loan borrowers

The U.S. Department of Education announced a 1% interest rate reduction for student loan borrowers enrolled in auto pay from July 1, 2023, through June 30, 2028. New repayment plans, including the income-driven Repayment Assistance Plan (RAP) and Tiered Standard Repayment Plan, will launch next month, with RAP offering a match on on-time payments and eligibility for Public Service Loan Forgiveness (PSLF) after 120 payments.

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U.S. Department of EducationorganizationWorking Families Tax Cut ActtopicRepayment Assistance PlantopicTiered Standard repayment plantopicPublic Service Loan ForgivenesstopicDonald TrumppersonStudentAid.govorganization
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