1. Pay a little more than you’re supposed to. Once you start with your repayments, try to pay a little extra. At first, you might find it challenging to budget your income, but in the end, you can save on interest over the life of your loan.
2. Try paying every two weeks. If you are paid biweekly, why not send half of your repayment every two weeks, as well? This way, you can also save on interest and you won’t risk spending the money that you are to keep for the payment.
3. Consider automated payments. If your lender offers this option, you might want to really consider it. In this method, payments will be automatically withdrawn from your bank account on a regular basis, in an interval you agree upon. Lenders often lower interest rates for borrowers who opt for automatic payments.
4. Look for a company that offers lump sum payment for its employees’ student loans. If you are lucky, you may find a company that hire college graduates and that is willing to pay a lump sum towards your student loan. This often comes as a part of the compensation package and may be deducted from your salary, divided to several months, depending on the amount of your loan. You may want to ask about this when you are negotiating your salary with the company you are applying for.