How to Save .25% Interest on Federal Student Loans

To encourage repayment, the Department of Education has announced that it is offering 1% autopay discounts provided the borrower signs up by September 30.

Remember, the payment will be made automatically even if wrong.

Setting up another account and transferring funds to it to cover the auto-payment may be wise as errors are being reported.

Basically, use the auto pay function for the interest rate savings – it’s not much, but every little bit counts – but protect yourself in the meantime.