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3 Trusted Personal Finance Resources to Help Grads During Uncertain Times

By
Samantha Rose
Samantha Rose covers financial literacy for the educational arm of OppLoans. Her work focuses on providing hands-on resources for high school and college-age students in addition to their parents and educators.
Updated on March 18, 2021
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The future is uncertain. These resources can help.

Schools may be closed, but for the class of 2020, graduation is still coming. During normal times, entering the real world is tough. And this year is not normal.

While many colleges offer financial services, once students graduate, they’re largely on their own. Many will face student loans, taxes, and money management for the first time. And they’ll face them during a historic crisis.

To ease the transition, we compiled a shortlist of free resources that students can access online. Here are three essential government services that grads can turn to for financial guidance.

1. Federal Student Aid

What it helps with

  • Student loans

Resources offered

  • Federal student loan information
  • Exit counseling
  • Loan servicer details
  • Loan consolidation
  • Income-driven repayment plans
  • Deferment and forbearance

What it is

The United States Department of Education runs the Federal Student Aid website as a centralized hub providing information, financial tools, and other resources. It can help graduates manage student loan payments.

With the economic impact of the coronavirus crisis taking a toll, Congress is making an effort to offer relief to those with student loan debt. Grads with federal student loans can access their account info through the site.

2. Internal Revenue Service

What it helps with

  • Taxes

Resources offered

  • Free online tax filing
  • Refund status
  • Tax records
  • Online payment options
  • Information

What it is

The Internal Revenue Service (IRS) is the federal agency that oversees tax filing, collection, and laws. The website is full of important financial information, including Coronavirus updates.

In March, the IRS extended the federal deadline for filing and payments from April 15, 2020, to July 15, 2020. Click on ‘Get Coronavirus Tax Relief’ on their website for more information about how the government is handling tax filing and payment extensions.

3. MyMoney.Gov

What it helps with

  • Money management

Resources offered

  • Educational materials

What it is

The Federal Financial Literacy and Education Commission created the MyMoney.Gov website to assist Americans in their financial education. It is organized around five principles – earn, save and invest, protect, spend, and borrow.

MyMoney.Gov can help you create a budget and identify costs to eliminate. It also provides an extensive list of financial recovery resources to help grads rebuild their finances after a time of hardship.

Bottom line

This year’s grads face difficult times. To help ease the transition, turn to helpful resources from trusted sources.

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