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Auto Pay

All articles tagged with #auto pay

budgets-and-projections25 days ago•2 min saved

Auto-Pay Expansion Seen as Backdoor Debt Cancellation

The Education Department plans to quadruple the auto-pay interest discount to 1% through 2028, at an estimated cost of at least $5 billion, arguing it helps borrowers enrolled in auto-pay. Critics from the Committee for a Responsible Federal Budget call this “backdoor” debt cancellation that benefits borrowers already in repayment, question its legality, and warn it does not reduce monthly payments. They urge Congress to address the $100+ billion Pell Grant shortfall instead and advocate offsets or alternatives like the existing Repayment Assistance Plan.

via Committee for a Responsible Federal Budget|

#auto-pay #budgets-and-projections #education-policy

education26 days ago•4 min saved

Auto-Pay Interest Cut Extends to 2028 as New Loan Plans Debut

The Education Department announced a 1% auto-pay interest reduction on federal Direct Loans starting July 1 and lasting through June 30, 2028, for borrowers who enroll by Sept 30, 2026 or are already enrolled. Two new repayment options, RAP and Tiered Standard, will launch July 1, 2026 to simplify payments: RAP uses income-based calculations with an on-time payment match to prevent interest accrual and maintain progress toward forgiveness, and the Tiered Standard plan offers fixed terms of 10–25 years. Auto pay remains the easiest way to access these benefits, with default borrowers required to consolidate and select a plan before enrolling. Details and enrollment steps are provided by the Department.

via U.S. Department of Education (.gov)|

#auto-pay #education #interest-rate-reduction

business3 years ago•1 min saved

Verizon hikes prices for older Unlimited plans.

Verizon will increase the price of many of its older Unlimited plans by $2 per month per phone line starting April 10. New customers won’t be affected by this change. The lines with tablets, smartwatches, and other devices won’t be affected by the price increase. Verizon suggests that those who want to avoid the price increase can move to a current Unlimited plan or switch to a Verizon prepaid plan. Each Unlimited line is eligible for a $10/month discount for using Auto Pay and paper-free billing.

via PhoneArena|

#auto-pay #business #mobile-carriers