Section 3.2: Credit Management and Repayment
Section 3.2 Focus
In this section, you will explore credit card and student loan repayment options. You may not have any student loan debt or credit card debt at this time. However, it is important for everyone to understand how to manage and repay student loans and credit cards. You may borrow in the form of student loans later in your undergraduate studies or for a graduate or professional degree. You may have a spouse or romantic partner that has outstanding credit card or student loan debt that will affect your joint budget. For these reasons and more, it is important to learn about management and repayment.
Read
- The Index Card Rule #2: Pay Your Credit Card Balance in Full Every Month (pages 41 - 65)
- Your Spending, Your Savings, Your Future Manage Borrowing (pages 41 - 65)
- Building Credit - Understand the Three C's of Credit Links to an external site.
- Understanding Student Loan Grace Periods, Deferment, and Forbearance Links to an external site.
- Who Is My (Student) Loan Servicer? Links to an external site.
- What Is Capitalized Interest on Student Loans? Links to an external site.
- Federal Student Loan Repayment Plans Links to an external site.
Watch
Watch the following videos on credit card billing cycles, the snowball vs. avalanche methods of repaying debt, and student loan repayment.