Money hiding in plain sight

Student loan discounts

If you have federal student loans, a few minutes could save you hundreds of dollars in interest. Sign up for automatic payments by September 30, 2026, and get a 1% interest rate discount through June 30, 2028. If you already use autopay, your 0.25% discount will automatically increase to 1%. You don’t have to do anything. 

Learn more about student loan discounts from the U.S. Department of Education.

Monthly bill discounts

Call or visit your providers’ websites to see what savings you qualify for, such as:

• Automatic payments: Many internet, utility, phone, and other service providers offer discounts from $5 to $40 a month when you set up automatic payments. Some offer additional savings for switching from paper to paperless bills.
• Multiple phone lines: Many family plans offer perks, like a free streaming service. A quick check-in could remove one of your monthly bills entirely!
• Senior discounts: Some phone providers offer discounts for customers 55 and older. Depending on where you live, your city or utility provider may also have senior discounts on water, sewer, or trash service.
• Active-duty military and veterans: You and your family may qualify for reduced rates.

Insurance discounts

Insurance companies have a long list of discounts that could lower your premiums by as much as 30%. You probably already know about “bundle and save,” the discount for covering your home and car with the same insurer, but that’s only one of many discounts available. Ask your agent if you could save by:

• Paying your premium all at once instead of monthly
• Setting up automatic payments
• Installing an app or device that tracks your driving
• Your teen driver getting good grades
• Belonging to an alumni association, farm bureau, car club, or the AARP

Extra savings on your Flagstar accounts

Let’s make sure you’re getting all the Flagstar discounts you qualify for, too!

• Home equity line of credit: Lower your interest rate by 0.25% with automatic payments.
• Flagstar Ready Checking: Waive the $10 monthly service fee with any two of these requirements: Sign up for digital statements, have $500 or more in direct deposits, maintain a $1,000 or more average balance, or be 24 years old or younger. If you meet just one requirement, you’ll lower the fee to $5.
• Flagstar Elite Checking: Waive the $15 service fee with a $25,000 combined monthly average balance.

The best part of this hidden savings is that you only have to set them up once. Take one small step, like enrolling in automatic payments or calling your insurance agent, and the savings continue every month. Then, as the savings add up, consider putting those extra dollars into a Flagstar savings account to help your money grow.