Student loan debt is awesome. Said no one. Ever.

The truth is that student loan debt is a big problem and, if you're reading this, you probably have more of it than you'd like.

The winning idea:

  1. Eric Nelson wrote: Follow the 5 Cs of Student Debt Reduction: car pool, cut up the credit cards, clip coupons, cook at home, and cut the fat!

And 9 more great ideas:

  1. 1.
    Bartosz Czernikiewicz wrote: For holidays, birthdays, etc. Request that payments be made toward my student loans in lieu of gifts . i'll try to match those payments.
  2. 2.
    Justin Grider wrote: Pay the amount listed on each grocery receipt to loans every time groceries are purchased. Pays off debt and forces you to be frugal w/ food.
  3. 3.
    Adam Kahn wrote: "Tax" myself $1 for every I don't exercise. It's a win-win: Either I set aside a few dollars to pay off loans or I get a workout in.
  4. 4.
    Jillian Toomey wrote: I'd put a Sticker on my credit card that has the words "Student Loan" so that whever I grab it to buy a latte i would think twice and save!
  5. 5.
    Jamie Hansen wrote: Build a budget that starts strict and eases as the debt drops. That way, Saving more now brightens the light at the end of the tunnel.
  6. 6.
    Daniel Q McGuffie wrote: Stick to a 60/30/10 plan: 60% of income to living expenses, 30% to loans, 10% to savings. skipping vaca's & fancy meals now pays off later!
  7. 7.
    Deborah E Migneron wrote: No fast food or shopping sprees. I live on Ramen and Dollar Tree. A park is my gym, I tan in the sun. I’ll juggle 2 jobs until it's all done.
  8. 8.
    Justin A. Kirck: Learn the essentials- cooking, sewing, Ironing, how to change oil- So one is less reliant on paying others for the necessities of life.
  9. 9.
    Anastasia Dextra wrote: To save money & pay back student loans, I will host a semi-annual clothing swap among friends. My wardrobe will expand, but my debt won't!

Don't feel like you're all on your own. We have some financial tips you can start using today.

Take them or leave them. We’re only a financial institution that has endured every major financial crisis since 1851, including the Great Depression.

So, really, what do we know ?

Make a Budget

Create a budget including all expenses, from rent payments to haircuts and groceries. Figure out the things you don’t really need so you can stop spending money on them — at least until that big raise.

Avoid Credit Card Debt

You don’t have to freeze your card in a block of ice, but you should stay on top of your payments. Pay off the cards with the highest interest rates first. The faster you can reduce those amounts, the more you can hold your head high.

Borrow or Swap

The fastest way to save money is to reduce unnecessary spending. Instead of giving up everything you enjoy, ask friends and family if they have things you can borrow: movies, books, or even clothes. Most books and movies can be borrowed from your public library for free.

Ask for a Raise

One of the fastest ways to pay off your debt is to earn more money. That’s more easily said than done, but really, all you have to do is ask. Talk to your boss about getting a raise or what it would take for you to get one.

Keep Living at Home

There’s no shame in moving back in with Mom and Dad. Okay, it’s not the coolest thing to do, but the fact is, you’ll be saving the money you would have spent on monthly rent.

Review Payment Options

Debt doesn’t have to be soul-crushing. The right payment schedule can reduce the feeling of debt to something more like a pain in the neck. Investigate different payment plans, especially the income based repayment program.