Acknowledge you have it. Student debt can be overwhelming, but let’s face it: You owe and have to pay it back.

Know how much you owe and develop a realistic repayment plan. Important factors to consider include: income; fixed expenses such as mortgage/rent, car payment, and insurance; and potential lifestyle changes like marriage, pregnancy, and

relocation. In light of all this, decide what you can realistically put toward your student debt each month. Most people think it’s best to put everything extra toward their debt, but if there is an emergency expense and you have no additional funds—what then? You end up with more debt! Develop a monthly budget that includes debt reduction as well as a savings plan.

Develop a strategy for reducing interest. Consider consolidating your student loans, which will allow you to have one interest rate from a single lender versus 14% here and 6% there. With interest rates as low as they are, you may get a consolidation rate lower than the original rate. Be sure your consolidation source is a trusted lender; if you are unfamiliar with a particular consolidation company, you could find yourself in a situation that was worse than before.

You Need A Budget (YNAB) Pro software helps you focus on the foundation of your finances: the budget. By getting a budget under control, you are in a better position to pay bills and eliminate debt. Visit www.youneedabudget.com.

Work the system. If you have accumulated debt on credit cards, play the credit card game wisely. The first time I graduated from college I had $3,000 in credit card debt and received offers for more credit cards. Most people will tell you to throw away those offers, but they helped me. Before opening a new credit card, be sure to read the fine print. If an offer is for 0% interest over 12 months and there is not a catch, transfer the balance. Or, ask an existing credit card company to match the other offer. Either way, it beats paying 20% interest a month. If you cannot pay your balance within the allotted time, find another offer and transfer the balance again. There may be a transfer fee involved, but from my experience it was a lot less than the monthly interest charge I would have accrued.

Avoid regret. Yes, it is stressful to owe money, but without student loans many of us could not attend college. With that said, I am proud to be graduating again with student debt. It takes time and strategy to get out of debt, but I have done it once before and you will, too.