10 Methods to Get Your Student Loan Debt Under Control

The amount you spend on student loans can feel ridiculous. That money could go toward rent, travel or an early start on retirement savings.

The good news is that there are ways to lower what you pay each month. Here are 10 options to look at.

Note: federal student loan rules changed on July 1, 2026. Which options you have depends on whether you've taken out a new federal loan since that date. This guide reflects the rules as of October 2026.

Option 1: Income-driven repayment

If your income is lower than you hoped, an income-driven repayment (IDR) plan sets your monthly payment based on what you earn and your family size. Any balance left after the full repayment period is forgiven.

Repayment Assistance Plan (RAP). The newest plan, launched July 1, 2026, and open to most federal borrowers.

• Payments are 1% to 10% of your adjusted gross income, depending on how much you earn, with a minimum of $10 a month.
• Payments drop by $50 a month for each dependent.
• When you pay on time, unpaid interest for that month is waived.
• Any remaining balance is forgiven after 30 years of payments.
• Parent PLUS loans don't qualify.

Income-Based Repayment (IBR). Still available to borrowers who haven't taken out a new federal loan since July 1, 2026.

• Payments are capped at 10% or 15% of your discretionary income, depending on when you first borrowed.
• Your payment can be as low as $0 if your income is low.
• Any remaining balance is forgiven after 20 or 25 years.

PAYE and ICR. These older plans are still open to existing borrowers but close on July 1, 2028. The SAVE plan (which replaced REPAYE) ended in March 2026, and borrowers on it are being moved to other plans.

Upsides:

• Payments that match your income.
• Forgiveness at the end of the repayment period.

Downsides:

• Your payment rises as your income rises.
• If you're married, your spouse's income may count.
• Forgiven balances are taxable again under federal law for forgiveness after 2025.

Option 2: Graduated repayment

Payments start low and increase over time, usually every two years, on the idea that your income will grow as your career does. It's available to borrowers who haven't taken out a new federal loan since July 1, 2026.

Upsides:

• Lower payments at the start of your career.
• You still pay off the loan within a set term, usually 10 years.

Downsides:

• You pay more interest overall than on the standard plan.

Option 3: Extended repayment

If you have more than $30,000 in federal Direct Loans, you can stretch repayment over up to 25 years. Like the graduated plan, it's only for borrowers without a new federal loan since July 1, 2026.

Borrowers with new loans get the Tiered Standard plan instead, where the term depends on your balance: 10 years under $25,000, 15 years up to $49,999, 20 years up to $99,999, and 25 years for $100,000 or more.

Upsides:

• Lower, more manageable monthly payments.

Downsides:

• You pay much more interest over time.
• There's no forgiveness under this plan.

Option 4: Combine your federal loans

If you have several federal loans, a Direct Consolidation Loan rolls them into one.

Upsides:

• One monthly payment instead of several.
• A longer term can lower your payment.
• Consolidating can make some older loan types eligible for income-driven plans.

Downsides:

• A longer term means more interest overall.
• Your new rate is an average of your old rates, so you can't target the most expensive loan.
• Consolidation loans made on or after July 1, 2026 can only use RAP or the Tiered Standard plan.

Option 5: Refinance your loans

Refinancing replaces one or more loans, federal or private, with a new private loan, ideally at a lower interest rate.

Upsides:

• A lower rate can save you thousands of dollars.
• You can combine federal and private loans into one payment.

Downsides:

• Refinanced federal loans lose federal benefits for good, including income-driven plans, forgiveness and Public Service Loan Forgiveness.
• Stretching the term lowers your payment but raises the total interest.

Option 6: Get student loan help from your employer

More employers now help pay down their workers' student loans. Companies such as Fidelity, NVIDIA and SoFi offer it as a benefit. See our list of employers that help pay off student loans.

Under federal tax law, an employer can pay up to $5,250 a year toward your student loans tax-free. That rule is now permanent, and the limit will rise with inflation from 2027.

Upsides:

• Money toward your loans, often tax-free.

Downsides:

• Not every employer offers it, and many cap the total amount.

Option 7: Look at state repayment programs

Some states and communities offer student loan repayment help to attract workers, often for jobs in healthcare, teaching or rural areas. Check your state's higher education agency to see what's available.

Upsides:

• Extra money toward your loans.

Downsides:

• Programs usually come with work or residency requirements, and moving is a big step.

Option 8: Sign up for autopay

Interest is what makes student loans so expensive. Federal loans give you an interest rate discount when you set up automatic payments. The usual discount is 0.25%. As of October 2026, borrowers who enroll by December 31, 2026 get a temporary 1% discount through June 30, 2028. Many private lenders offer an autopay discount too.

Upsides:

• You never miss a payment.
• You pay less interest.

Downsides:

• You need enough money in your account each month.

Option 9: Use cash-back rewards programs

Some cash-back and rewards programs let you send the money you earn from everyday shopping toward your student loans.

Upsides:

• Earnings from purchases you'd make anyway go toward your debt.

Downsides:

• The rewards are small.
• Don't spend more just to earn rewards.

Option 10: Use credit card rewards strategically

Most loan servicers won't let you pay with a credit card, but you can use rewards indirectly. Redeem cash back as a statement credit, then put the money you save toward your loans.

Upsides:

• Rewards from your everyday purchases.

Downsides:

• Only worth it if you pay your card in full every month. Credit card interest is far higher than student loan interest.
• Not everyone qualifies for the best rewards cards.

What we learned

There's a lot of confusing information about student loans, and the rules keep changing. Start by finding out which plans you qualify for at studentaid.gov, then use the options above to keep your debt under control.