Reduce Interest Rates by up to 0.25%
For most lender programs, students can lower their interest rate by 0.25% by electing to have payments automatically deducted from their bank accounts.
| What's Needed for the 1st 0.25% Reduction |
|---|
| The 0.25% interest rate reduction is available for borrowers who elect to have monthly principal and interest payments transferred electronically from a savings or checking account. |
| The interest rate reduction will begin when automatic principal and interest payments start, and will remain in effect as long as automatic payments continue without disruption. |
| This reduced interest rate will return to contract rate if automatic payments are cancelled, rejected or returned for any reason. |