Enroll in Automatic Payments

Make sure you never miss a payment — and make your life easier — by setting up automatic payments from your bank account. Bonus: Some loan servicers offer a discount on your interest rate when you autopay.

Pay More Than the Monthly Minimum Payment

The best way to pay off student loans fast is to pay more than the minimum payment due each month. Let your servicer know you’d like extra payments to go toward your current balance — not be applied to the next month.

Make Biweekly Payments

Some lenders may offer the option to make payments on a bi-weekly basis rather than once a month. If you pay half of your monthly payment every two weeks, you’ll end up making an additional payment each year. Depending on your loan terms, that could mean paying it off a year early and saving on interest to boot!

Use Found Money to Get Ahead

Motivate yourself by checking in on your progress and celebrating how far you’ve come. Stick with your plan and remember you can put unexpected windfalls — work bonuses, tax refunds and gifts — toward loan payments, too. Every little bit helps!

Resist Extending Your Repayment Deadline

Opportunities to extend your loan repayment period to lower your monthly payment may sound good, but you’ll pay more in the long run, as interest continues to accrue. Unless you absolutely cannot afford the payment, stick with the original timeline.

Determine If Refinancing Is Right for You

If you have multiple loans, refinancing — combining multiple loans into a single private loan, ideally at a lower interest rate and with a shorter term — may enable you to pay off your student debt faster. Refinancing may limit your eligibility for certain federal programs, so consult a financial advisor before you commit.