06/19/2026
Marylanders managing federal student loan payments should be aware of a new opportunity to save.
Beginning July 1, 2026, eligible federal student loan borrowers enrolled in auto pay may receive a temporary 1% interest rate reduction, up from the standard 0.25% reduction. Borrowers must enroll by September 30, 2026, and the benefit is scheduled to run through June 30, 2028.
At a time when working families are being squeezed by rising costs everywhere, every dollar matters. This is a simple step that could help borrowers reduce interest and stay on track with repayment.
Not every loan may qualify, so borrowers should review their account and contact their loan servicer directly.