4. Do a part-time job

If you haven't found the right job and the moratorium of the loan is about to end, it may not be a bad idea to pick up a part-time job. This is, of course, not what you had in mind when you took the loan for a degree, but this way you can earn enough to pay EMIs in the initial days.

5. Refinancing with Accommodative Terms

A student can look for options to refinance the loans with terms that are more accommodative. Some institutions give the option to switch the existing co-applicant with another co-applicant, who is more financially sound. Also, a bank can ask parents of the student to support the repayment for their child till he or she settles in a job.

6. Make the payments on time

Paying on time will help establish good credit. Paying on time will decrease the total interest that accrues on your loan. Delinquencies and defaults on student loans will lower your credit rating.