You can make higher payments if you have the funds. This will allow you to reduce principal faster and decrease the total payment time. You can reduce the principal balance and minimize the amount of interest you pay.
You may find it tempting to transfer any extra money at the end the month to student loans. If your monthly budget is tight, and you don’t have much extra money at the end of each month, this could slow down your student loan payment pace.
Part-time work is a great way to manage college debt. You can use the earnings to reduce your borrowing and simplify your repayments. Earning $7,040 per year will not affect your eligibility for need-based financial assistance.
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