iQuanti: If you have student loan debt, you may feel like there is a huge burden on your shoulders. But if you have the chance, you may want to tackle those student loans aggressively. The faster you pay them down, the sooner you can relieve that student loan stress and enjoy more of your monthly income.

The following are five strategies to help you get out of student loan debt faster.

1. Begin Payments Before Your Grace Period Ends

Typically, there is a six-month grace period once you graduate before you must start your student loan repayment. If you want to tackle the debt aggressively, begin making your payments as soon as you can. If you can swing it, you can even begin making payments while you are still in school.

Of course, if cash flow is an issue, consider depositing at least a small amount that will cover the monthly interest. This will save you money down the road.

2. Enroll in Autopay (Especially if there is a Discount)

Signing up for automatic payments could get you a reduction in your loan interest rate, depending on your lender. It also helps you make every payment on time, eliminating any potential late fees or damage to your credit score. 

3. Pay More Than the Minimum Amount

Even if it's just a little bit, pay more than the minimum amount each month. If you add even $50 per month, this adds up over the years, helping you get out of student loan debt faster.

Be sure that you specify that you want the extra amount to go toward your principal with your servicer, rather than toward future monthly payments. You can usually specify this online when you make your payment. 

4. Consider Student Loan Refinancing

Student loan refinancing may help you get out of debt faster if you can secure a lower interest rate or better repayment terms. Consolidating various loans into one could lower your monthly payments and perhaps shorten your loan term, helping you get out of debt faster and pay less interest overall. It's also nice to only have to make one payment to one provider. 

If you have variable-rate loans, refinancing to a fixed-rate loan can also add a level of security in the knowledge that your rates won't go up with potential interest rate hikes in the future.

5. Use Your Tax Refunds Towards Your Student Loans

While it's tempting to spend your tax return on things you don't really need, you might consider using some or all over your tax refund to make an extra payment on the principal of your student loan.

Even a thousand dollars applied to the principal per year could save you a lot of money in interest over the years and help pay down your student loan debt faster. 

The Bottom Line

Whether it's beginning payments earlier, enrolling in autopay, paying more than the minimum, refinancing your student loans, or using your tax refund to pay down principal, there are plenty of ways small behavior changes can help pay off your student loan debt faster.

With only a bit of preparation, you can use these strategies to decrease overall debt faster, which will help you breathe a little easier. Consider these steps and keep doing your research on loan repayment. Additionally, you can always ask a financial advisor or your student loan representative for assistance.