schools
Trump administration to cut student loan interest rates
By Daniel Miller at FOX 9 KMSP (FOX)
· June 19, 2026
· 1 min read
With millions of student loan borrowers in default, the Trump administration announced a plan for a slight reduction in student loan interest rates to provide some relief for borrowers paying back their loans.
Why this matters in The Minneapolis
The Trump administration's plan to cut student loan interest rates may have a significant impact on Minneapolis residents, many of whom are struggling to pay back their loans. As a major hub for higher education in the Twin Cities area, Minneapolis is home to numerous colleges and universities, and many students graduate with substantial debt. A reduction in interest rates could provide much-needed relief for these borrowers, allowing them to allocate more of their income towards living expenses and other financial obligations. The city's economy could also benefit from the increased disposable income, as borrowers would have more money to spend at local businesses and invest in their communities. As the plan moves forward, Minneapolis residents will be watching to see how the reduced interest rates are implemented and how they will affect the city's student loan borrowers.
About this story
Original reporting by FOX 9 KMSP (FOX) . The Minneapolis surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit FOX 9 KMSP (FOX) . Have a tip or correction? Contact our newsroom .
Category: schools ·
Published: June 19, 2026 ·
Source: FOX 9 KMSP (FOX) ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? With millions of student loan borrowers in default, the Trump administration announced a plan for a slight reduction in student loan interest rates to provide some relief for borrowers paying back their loans.
When was this published? This article was first published on June 19, 2026 by FOX 9 KMSP (FOX) and curated for The Minneapolis readers.
Who reported this story? This story was reported by Daniel Miller at FOX 9 KMSP (FOX). To learn more about how The Minneapolis selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more schools coverage from The Minneapolis, or browse our daily briefing and topic hubs .
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