06:03 PM EDT, 06/18/2026 (MT Newswires) -- The Trump administration will offer federal student loan borrowers a 1-percentage-point interest rate reduction for enrolling in autopay, up from the current 0.25-point discount, starting July 1, multiple outlets reported Thursday.

Borrowers not already enrolled have until September 30 to sign up, with the discount running through June 30, 2028, according to the reports.

"The Trump Administration is making student loan repayment easier than ever," Under Secretary of Education Nicholas Kent said in a statement cited by CNBC.