That if you sign up for auto-payments on your student loans you get an interest rate reduction?
Maybe I’m slow to the game, but I had no idea that was a possibility. I was browsing around on my loan servicer’s site yesterday afternoon, and discovered that if I sign up to have my payments automatically made on the due date, I get a .25% rate reduction on each loan (I have one subsidized and one unsubsidized Stafford loan). Then, feeling like a dummy because I didn’t know this sooner, I did some further online research and found out that yes, this is a pretty common situation with federal student loans. Makes me wonder what else I’ve been missing out on….
So, it’s basically a win-win. My loan payments get made automatically and my interest rate gets reduced. I’m signing up right away!