Money with Mommy

Welcome Friends,

I am the Motivated Mommy. I have vast work experience in the financial industry. I worked for Panhandle Plains Student loans, as well as being a personal banking assistant. Therefore, this blog is here to answer all of your money, investing, banking, and debt questions. We'll try to approach savings growing in a humorous and fun way. Just because we're talking about money, that doesn't mean that we have to be boring! Let's get started!

Let's talk about a nasty little secret that student loans companies keep from you that can greatly affect your wallet! I'm talking about the "secret" interest.

What they tell you is that if you are "in" school. Your interest will not accumulate. What they don't tell you is that this means that you have to take EVERY possible semester.. from summer session, inner session, fall, and spring.. taking a full load (12 hrs for undergraduate and 6 hours for graduate students) for your loan to truly be "interest free". What a nasty trick! But, it's the truth! Call your student loan company to verify, and they will tell you the same thing.

There are secret benefits. You can save interest in ways you would have never considered.
You can get a "deferment". Which will postpone your payment AND your interest until you enter repayment. Who is eligible? New mommies, pregnant individuals, students still in school, military individuals, people with financial struggles.

Did you know that you can also can also request to lower your monthly payment! It's called a forbearance. They will evaluate your income and adjust your payments to something you can afford! That's a life saver for most people.

Well, those are my secrets for today!!! Stay tune for more fun financial facts in the future. I will be blogging daily. For now.. this is the motivated mommy!