Discussing Best way to Manage your Student Loan with Bruce Mesnekoff

1

• After graduation, people have various dreams to
  fulfill, various goals to achieve be it a dream
  house to buy, a vacation world over, or planning
  for retirement. All these dreams need a good
  financial planning it includes planning
  repayment of student loans in the best possible
  manner. As Per Bruce Mesnekoff , A CEO of The
  Student Loan Help Center In Florida, It is
  advisable that student loans can be paid faster
  for you to save money and plan for other
  important things in life. The freedom from
  student loans at the earliest is the goal of
  this discussion.
• So, Mr. Bruce Mesnekoff let us tell how we can
  manage our student loans while doing our
  graduation or after graduation, as right its
  biggest issue in USA.
• Student Loan Tax Deduction Now student loans
  offer tax deductions i.e. you get some money
  back in your pocket. Instead of using this money
  to some other leisure activity you can pay the
  amount as repayment for loans. This way a huge
  load is off your back and your pending loan
  amount is reduced drastically.
• Extra than Minimum As Bruce Mesnekoff suggests,
  try and add some money over and above
• the minimum money that is required to be paid as
  repayment. Be it 20 only but it will add to
  principal and in long run even small amounts
  matter.
• Cash Windfall If ever fortunately you get a good
  amount of cash from somewhere is it a gift,
• lottery etc use it to pay back your loan. This
  will eventually help you paying lesser interest,
  save money and get rid of the loan debt at a
  faster pace.
• Jobs That Offer Forgiveness There are
  multiple organizations which offer
  benefits of
• repaying your student loans and even jobs like
  teaching or public service offer loan forgiveness
  in parts or full. For the same certain
  requirements need to be met for you to be
  eligible.
• Avoid Repayment Programs Repayment programs
  available should be avoided if you want
• to get rid of loans at a faster pace since these
  programs decrease your monthly payment but
  increase the number of years thus resulting into
  paying more interest eventually.
• Automatic Deduction Some lenders offer some
  discounts if the deductions are automated.
• This means that repayment amount will get
  deducted from bank account automatically at a
  specific date of each month. As Bruce Mesnekoff
  said this could be as less as 0.25-0.30 but we
  should remember a penny saved is a penny earned!
• Pay Before Actually Required Different loans
  have different grace period. This is the time
• after graduation when loan is not accruing
  interest and you can actually consider paying
  starting from grace period. This is taking into
  consideration that you have a nice job and your
  finances can be sorted.
• Pay Bi-Weekly/Tri-Weekly Another famous
  option by Bruce Mesnekoff is to make
  the
• payment biweekly or Tri-weekly i.e. you split the
  monthly amount into two/three equal parts and
  pay after 2/3 weeks each. This will reduce the
  interest and you will end up paying one months
  extra payment at the end of the year.
• At last Mr. Bruce Mesnekoff, An author of Famous
  Book THE ULTIMATE GUIDE TO STUDENT LOANS Said,
  you can choose whatever method seems feasible to
  you considering your financial management. Just
  back it up attitude, determination and a hope for
  a loan free future to achieve your target.

2
For More Information Contact Bruce Mesnekoff on
LinkedIn