Managing Your C.A.R.E. Loan: Smart Tips for Financial Confidence

Cabrillo’s C.A.R.E. (Personal Line of Credit) is designed to be your financial safety line. A flexible source of funds to help cover your pay gap for essential expenses during unexpected events, such as a government shutdown. Used wisely, your C.A.R.E. Line can provide peace of mind and help you stay on track financially.

Best Practices for Managing Your C.A.R.E. Line of Credit

• Use it only when you truly need it. Keep it available for true emergencies. Treat your C.A.R.E. Line as a safety net, not everyday spending. Focus on essentials like housing, utilities, groceries, and required loan payments.
• Avoid withdrawing the full balance upfront. Take only what you need, when you need it. This keeps future payments manageable and preserves available credit for emergencies.
• Track your advances and repayments. Monitor your balance, due dates, and available credit through Digital Banking or the Cabrillo Mobile App so you always know where you stand.
• Plan for repayment—especially during any promotional period. Your advance includes a 0% interest window (e.g., the first 60 days), schedule repayments to take full advantage of the benefit.
• Automate when possible. Set up reminders or automatic transfers to avoid missing a payment and to pay down the balance sooner.
• Communicate early if things change. If income is delayed longer than expected or you anticipate difficulty making payments, contact Cabrillo’s Asset Management team to review options.

Quick Management Checklist

• Borrow only what you need, when you need it.
• Review balances and due dates weekly.
• Schedule payments during any interest-free window.
• Reduce nonessential spending while a balance is outstanding.
• Reach out to Cabrillo early if you need adjustments.

Remember

Think of C.A.R.E. as a short-term lifeline, not a long-term loan. Using it intentionally and repaying promptly helps you stay prepared and reduces stress. If you need additional assistance, Cabrillo’s Asset Management resources make it easy to manage your payments, explore financial relief options, and access tools to help you stay on track. Whether you’re facing temporary hardship or simply need more breathing room in your budget, our team is here to help.

From loan modifications and skip‑a‑pay options to budgeting tools and credit‑building resources, you’ll find guidance designed to fit your unique situation.

We're here to help discuss your options and find the right solution for your financial needs.

Contact our Asset Management Team