A Comprehensive Look at Repaying Student Loans (English)

BALANCE Financial Fitness is a program paid for by Redwood Credit Union to provide our Members free access to tools and tips for better money management. Whether you're interested in creating a budget, developing a workable spending plan, getting out of debt, understanding and improving your credit report, buying a home, or planning for your financial future, Redwood Credit Union, and our trusted partner BALANCE, are here to help.

BALANCE is a confidential financial education and counseling service committed to helping individuals and families nationwide take control of their finances and reach their goals. On the BALANCE website, you’ll find information about what they do, who they are and how they can help you master your money. To speak with a BALANCE representative call 1 (888) 456-2227, toll free.

If you are daunted by the prospect of having to make student loans payments for the next ten or so years, you are not alone. Student loan debt can be fairly large, and the monthly payments may take up a big chunk of your income. However, being educated about student loans and your options can make it easier to repay them. This 5-page program - with an optional quiz to ensure understanding - will cover:

• What types of student loans do you have?
• Repayment plans
• Consolidation & cancelation/forgiveness
• Deferment and forbearance
• Default