Deadline Extended to Get 1 Percentage Point Off Federal Student Loans. Here's How Much You Could Save

October 5, 2026 – In a U.S. News & World Report article about the extension of a federal student loan rate reduction program, Stacey MacPhetres, senior director of education finance at Bright Horizons, shares insights on the topic.

Stacey MacPhetres, senior director of education finance at Bright Horizons, says the deadline extension will give more new borrowers a chance to enroll.

"The extension captures many recent graduates who completed school in the spring and are only now reaching the end of their grace period and will be entering repayment. By including this population, the administration is helping new borrowers start repayment with a lower interest rate, encouraging successful repayment habits from the outset, and reducing the total interest they may pay over the life of their loans," she says.