College life in the United States is exciting, but for many students, it comes with a big responsibility: student loans. Whether you’ve taken out federal or private loans, the thought of repaying thousands of dollars post-graduation can be overwhelming.
The good news? You don't have to wait until you graduate to start chipping away at your debt. With the right strategy, you can begin student loan repayment during your college years, helping you save on interest and reach financial freedom sooner.
Here are three simple, practical tips that can help you make early progress toward repaying your student loans while still in university.
1. Begin with Interest Payments During School
Most student loans—especially unsubsidized federal and private loans—start accruing interest from the moment they’re disbursed. Many students don’t realize this and are shocked when their loan balance is higher than what they initially borrowed.
If you can, start making small monthly interest payments while you’re still in school. Even if you’re not required to pay until after graduation, doing this prevents interest from capitalizing and growing your total loan amount.
It doesn’t need to be a lot. Even $20–$30 per month during college can save you hundreds—or even thousands—in the long run. Think of it as a smart money habit that builds long-term benefits.
2. Get a Side Hustle or Campus Job
Working while studying might sound difficult, but many students manage it, and it can seriously fast-track your loan repayment.
Start with flexible on-campus jobs, which are designed to fit student schedules. Or look into remote freelance gigs like writing, tutoring, editing, or graphic design. These jobs often pay by the hour and let you work on your own time.
Commit a portion of your earnings, even just 20–30%—to your loan. For example, if you're living in student apartments near University of Southern California, you’ll find plenty of part-time job opportunities in nearby cafes, bookstores, or tutoring centers.
Not only will your side gig help reduce debt, but it’ll also give you valuable work experience, boosting your resume for life after graduation.
3. Spend Windfalls and Cashback Strategically
Surprise cash like tax refunds, scholarship excesses, internship stipends, or birthday money can be powerful tools in repaying your loan faster.
Instead of splurging, use these windfalls to make extra loan payments. Just a few extra $100s applied directly to your principal can dramatically reduce the interest you’ll pay over time.
Use cashback apps or student discount platforms to save on everyday essentials like books, groceries, and school supplies. Funnel those savings into your loan repayments. Every small financial win is a step closer to debt-free living.
Bonus Tip: Set Up Auto-Pay for Interest Discounts
Many lenders offer a small interest rate reduction (around 0.25%) if you enroll in automatic payments. It might seem minor, but it adds up over time.
Auto-pay also ensures you never miss a payment, keeping your credit score healthy and your financial progress on track.
Final Thoughts
You don’t have to wait until after graduation to start paying off your student loans. With a bit of discipline and a forward-thinking mindset, you can make meaningful progress while still in school.
Start small. Stay consistent. Take advantage of every opportunity, whether you’re living in budget student apartments in Miami or sharing a dorm room in Los Angeles.
You've already invested in your future. Now take charge of your financial journey, one smart decision at a time.
How can amber help you?
amber helps you secure ideal student accommodation on your study abroad journey. Having served 80 million students (and counting), amber is your one-stop shop for all your accommodation needs. Download the amber app from the Google Play Store or App Store to book an affordable home for your adventure.
