If you attended or are attending college, the chances are that you have a student loan.

Student loans are a way to pay for your classes, housing and even books and supplies, but once you graduate and it comes time to pay them back, you might feel like you bit off a little more than you can chew in terms of repayment.

Many people struggle to pay back their student loans and can find themselves in serious financial trouble because of these struggles.

Don’t let student loans get you down. Use these tips to help you pay yours off within a reasonable amount of time so you can put the loan behind you and focus on the future and using your college degree.

“Instead of helping our students, the government is making a profit on #studentloans"- #ElizabethWarren http://t.co/cSYf9PqZC5

— Student Loan Relief (@slrelief) June 16, 2014

Prioritize

If your loans are large, they could be building high amounts of interest every month. If you want to pay off your loans as soon as possible and pay back the least amount possible, you need to prioritize your loans and pay off the high interest ones first. If you need to defer your loans, make sure the interest is deferred as well or look into making payments on the interest while the balance of the loan is deferred.

Forgiveness

Wouldn’t it be nice to find out that you don’t have to worry about paying back your student loans? It may be possible if you work in a certain career field or volunteer with certain organizations. If you work in public-interest law or medicine, teaching or are a member of the military, you could have your loans partially or completely forgiven. You can also have them forgiven by volunteering with AmeriCorps or the Peace Corps.

Consolidate Wisely

Consolidation may seem like the best way to take care of all of your student loans quickly, but it could get you into trouble. Consolidating can make your payments bigger and prevent you from paying off your interest as fast. If you plan to consolidate, make sure it will benefit you instead of hurt you.

Did you know there can be hidden costs associated with some student loan forbearance and deferment? Research first! http://t.co/6FoDfVfpvN

— Student Loan Network (@studentloannet) March 17, 2014

You may feel overwhelmed when you start paying back your student loan, but there are numerous resources available to help you figure out the best repayment options and pay your loans off as quickly as possible.

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