How to pay off student loans

Don't just settle for the default repayment plan

Graphic illustration of one hand offering money to another hand in exchange for a college diploma
If you have federal student loans, you'll be automatically enrolled in the standard 10-year repayment plan once your grace period ends
(Image credit: Feodora Chiosea / Getty Images)

With the steep cost of higher education in the U.S., the amount of money that many students have to borrow in order to attend college can leave them in debt post-graduation. Sometimes the sum feels insurmountable.

If you are among those borrowers looking at a hefty student loan burden, it is vital to not simply settle for the default repayment plan. To maximize your efficacy and efficiency when paying off student loans, it is worth taking the time to assess your full range of options for repayment — including any assistance you may have access to — and from there, determine what makes the most sense for your situation.

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Becca Stanek, The Week US

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.