Student-loan borrowers now have 3 more months to enroll in a temporary repayment benefit

President Donald Trump's administration extended the deadline for student-loan borrowers to receive an interest-rate reduction. Chip Somodevilla/Getty Images The Education Department extended the deadline for student-loan borrowers to receive an interest rate reduction. Borrowers now have until December 31 to enroll in autopay and receive the repayment benefit. The deadline was originally set to September 30, Student-loan borrowers have more time to receive a lower interest rate on their payments. The Department of Education announced on Tuesday that it is extending the deadline for borrowers to enroll in autopay , and thus receive a 1-percentage-point interest rate reduction, to December 31, 2026. The enrollment deadline was previously set for September 30. The interest rate reduction is temporary and will last through June 30, 2028. The department said in a press release that since it first announced the benefit in June, nearly 2 million borrowers have enrolled.