Skip to main content
  1. Life
  2. Education & Schools
  3. Higher Education

Student loan repayment strategies

See also

The amount of student loan debt amassed by college graduates is estimated at a trillion dollars. It is an enormous amount of debt and paying it back, for many graduates, is intimidating and burdensome.

Six months after graduating or leaving school, student loan repayment obligations begin. Developing a strategy that will help manage the debt is crucial, if the debt is to be successfully repaid. is a program that offers free help with this.

Let’s look at strategies to successfully repay student loans

  • Know what you owe. Students may carry debt from more than one loan servicer and these loans are often sold between them. Trying to identify who and how much is owed can be overwhelming.
  • Select the most appropriate loan repayment plan under the circumstance. There are a variety of repayment plans available for federal student loan debt. They range from income based repayment plans to deferred payment and forbearance plans.
  • Set up an automated deduction payment plan through your bank or credit union. It keeps you from spending the money on something else and you will never have a late or missed payment.
  • Inquire about student loan forgiveness programs. Teachers are afforded significant debt relief in the form of principal reduction and complete forgiveness of debt, after 10 years of payments. There are also public service forgiveness programs for students who work in public service jobs that often pay lower salaries.
  • Consolidate debt into a single manageable loan, often times with a lower interest rate. Depending on whether you have private or federal loans, a loan consolidation program may be the way to go.
  • Make extra loan payments to be applied specifically to the loan’s principal amount. This will reduce the amount owed at a fast rate and reduce the amount of interest to be paid.
  • Pay off loans with the highest interest rates first.

Putting together a repayment plan that is well organized, will make student loan debt more manageable and a goal that is able to be achieved.



  • Dan Savage
    Dan Savage cares about LGBT youth, bullying and saving lives
    Today's Buzz
  • Raku
    Teachers and students can use this summer to learn a new skill
    15 Photos
  • Beach body
    Fitness: Earn your beach body badge with bootcamp classes
    10 Photos
  • Greek wine
    Unwind with these delicious wines: The thrilling wines of Greece
    7 Photos
  • Mandy Moore
    Exclusive interview with Celebrity Mandy Moore concerning animal activism
    5 Photos
  • Educational family vacations
    Find out how to take an educational family vacation that doesn't break the bank
    9 Photos