College graduation is meant to be a joyous time for students, but there is often a lot of uncertainty that comes with this period in their lives as well. Sorting out the financial end of graduation can be intimidating, and even though loans typically have a “6 months after you finish school” grace period, many students understand the importance of starting now.
Your Money Geek founder and blogger Michael Dinich explores this time after graduation in his latest article, MyFedLoan Guide: How to Manage Your Student Loans. This article focuses primarily on the government portal, MyFedLoan, but Dinich states that many of the ideas presented in this article can be used for any and all of the student loans sites that may be used by any student.
Much of the article goes to explaining what MyFedLoan has to offer and what graduates are going to be able to do with the portal. Since MyFedLoan is one of the most commonly used options nowadays (it’s the largest of the 9 nonprofits that work with the Federal Government in relation to student loans), it’s important to have an understanding of how it works and what it has to offer students.
Dinich does a bit of work talking about some of the difficulties that individuals have had with MyFedLoan in the past, but he also explains that “The company is a trusted partner of the U.S. Department of Education and therefore, must adhere to its standards. Remember that all student loans allow for an interest tax deduction on your annual tax return.”
The article does a deep dive into negotiating with FedLoan and looking at many of the frequently asked questions that arise when he speaks to graduates about MyFedLoan and what it has to offer them. Along with these FAQs, he also provides tips and information that is related to how consumers can pay their loans off.
Dinich considers this article to be recommended reading for recent graduates, because it provides them with a fuller understanding of the MyFedLoan platform and equips them with the information that they may need if a problem arises. His intent is to help these recent grads to start taking good first steps toward financial freedom after college.
About the Company:
Financial advisor Michael Dinich founded Your Money Geek with the intention of providing consumers with the tools and information that they needed in order to make sound financial decisions. Now, the blog has thousands of followers and a consistent posting schedule. Posts focus on retirement, saving, investing, dealing with debt, and a number of other common consumer financial concerns. More information about Your Money Geek can be found at their website, https://yourmoneygeek.com/.
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