 TITLE: Will Paying Off My Student Loans Affect My Credit Score? CONTENT: How to Pay Off Your Student Loans Faster\n----------------------------------------\nIf life after student loans sounds appealing—but you still have a ways to go—consider forming a strategy for paying off your student loans faster. Here are a few ideas to get you started:\n*   **Start paying back your loan early.** Your student loan may not require you to begin repayment until six months after graduation, but you can begin paying while you're still in school and reduce the principal amount you owe.\n*   **Pay more than the minimum each month.** Adding even $50 or $100 to your monthly payment can chip away at your loan term significantly. Or throw in a lump sum when you receive a financial windfall—a tax refund or work bonus, for instance—to lower your principal.\n*   **Consider consolidating or refinancing your loans.** If you have multiple federal student loans, you may be able to consolidate them into a single fixed-rate direct consolidation loan. If you have good credit and you're open to private student loans, you may be able to lower your interest rate and\/or shorten your remaining loan term by refinancing your student loan on the private market. Keep in mind that you'll lose the benefits federal student loans offer, so weigh the pros and cons before refinancing. END