Some ideas for reducing your student loan debt and repayments:

1.Consolidate your student loans into one loan that spreads the payments over a longer period of time. Sometimes this enables you to receive a better interest rate on the consolidated loan.

2.Work out a plan with lenders to extend payments.

3.Work with a lender to pay less now and more later as your income grows.

4.Work with a lender to defer payments until your financial circumstances become better. If you are expecting a better job with more money then perhaps they may be willing to work with you.

5.Get a higher paying job or work extra hours for your employer to get the debt paid off.

With any of these ideas make sure that you read the paperwork completely. If you don’t understand ask questions. Check with your financial advisors, or parents or whomever you trust. You don’t want to make things worse by getting into a loan that doesn’t work out for you.

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