Many graduates spend years on paying back their student loans. Avoid this happening to you. The key is to make effective use of your loans as students. Here are some tips on making sure that you have an easier time of it:

Avoid using money from your student loan for anything other than for what they are intended – your education. This means, paying off your tuition. You can also use student loans for room and board. Use student loans for books only when you really, really have to. Save the rest. Have a separate account if you must. You can tap into this account when you finally need it. Never spend this extra money for personal use such as buying clothes, or a new gadget.

Always fill out the FAFSA form for each year. It will determine your eligibility for need based grants and might give you access to federal student loans.

Make a budget before the beginning of the school year. Consider your projected expenses. Factor in family contribution, pay from part-time jobs, grants, scholarships, and federal loans. This way, you will only have to take out what you need. Try not to take the exact amount though, consider also emergency money. Just tuck this away into your savings account for real emergencies.

Once you graduate, do not ignore your student loans. The earlier you start paying them back, the faster for you to finally focus on saving money for yourself.