Tips for Paying Off Your Student Loans

Once you’ve been out of school for six months, whether it’s because you graduated, temporarily stopped, or dropped out, you have to start paying back your student loans.

Here are some tips for repaying your student loans:

  •  If you have subsidized loans, check how much money you could save by paying during the grace period. Your lender can help you calculate these savings.
  • If you have multiple student loans, consider whether or not consolidating (adding them together and making one payment) these loans is right for you. If you decide to consolidate, be aware that the process may take several months to set up.  Be sure to continue making your payments as usual until your consolidation loan is completed.  Here’s the government website devoted to loan consolidation:
  • Make sure you include your student loan payments in your monthly budget.
  • If possible, set up your payments to be made by direct deposit from your bank account. This will ensure that you never forget to make a payment time.
  • Keep your student loan information in a safe place for referral.


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