Paying for college can come with a high price tag. According to CollegeBoard, the average cost of tuition, fees and room and board at public, four-year universities is $21,950. That costs rises to $49,870 for students attending private colleges.

Student loan amortization structures your loans into fixed monthly payments, with a certain percentage going toward the principal and interest Student loans editor, Buy Side from WSJ Renee Fleck is a student loans editor at Buy Side from WSJ and an expert in personal finance.

There are no easy routes for private student loan forgiveness. However, you can take steps to make your payments more manageable or to receive payment assistance from your state.

Keeping up with student loan payments could put a strain on your budget, especially if your income has been affected by the coronavirus pandemic. While the CARES Act offers financial relief for borrowers with federal student loans--including temporary student loan forbearance and 0% interest rates--those measures won't last forever.