Things You'll Need:
- self-discipline
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Step 1
This might go without saying, but make your payments on time! Many lenders will drop interest rates by half a point or two (which makes a big difference if your loan total, like mine, is huge) after making continuously punctual payments.
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Step 2
Look at what your total monthly payment is for your student loans and divide it equally among the number of paychecks you receive per month. Don't make your last paycheck of the month the one that all of the bills come out of because that may just leave you broke until your next paycheck.
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Step 3
Be sure to consolidate loans if they're from different lenders or if you had to take out multiple loans throughout your years of study. It's much easier to keep track of how much you owe, and can ensure you get one steady interest rate. This also helps lower your payments.
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Step 4
Make paying your student loans a priority each time you receieve a paycheck. Pay it right away. Putting it off isn't going to decrease the amount of the loan, and unless you have another source of cash flow you're not going to have more money before your next payday rolls around.
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Step 5
Try to "ive like a student" for at least the first year or so when you begin repaying loans. It's nice having a higher salary now that you have your degree, but take the time to put some money in savings in addition to paying your loans. You'll do less suffering later. Good luck!
