For recent graduates in Florida, student loan debt can seem overwhelming. Entry-level positions, which are common post-graduation, may not always provide a sufficient level of pay. As a result, chipping away at debt may seem like an uphill battle, which can be very disheartening. In this case, Forbes offers the following advice.

Pay more when you can

Although making at least the minimum payment is a must, you should increase the amount whenever you can. When make the minimum payment a lot of the money goes towards the interest. That means the principle remains and you’re stuck paying more over the length of the loan. Even adding as little as $100 to your payment can make quite an impact, especially when you do it on a regular basis.

Consider refinancing

Refinancing involves applying for a new loan at a lower interest rate. With this loan you’ll pay off your existing loan, and payments for the new loan are likely to be far more manageable. In order to acquire a new loan, you will need to show that you’re eligible. This usually entails a credit check, providing information on income, and establishing how much debt you currently have.

Use your tax refund

While you may be tempted to use your tax refund or work bonus on something fun, consider putting it towards your student loans. When you make a lump-sum payment more of the money goes towards the principle, which means that you’ll pay down the loan faster. With tax refunds you can continue to make these payments every year, which will bring down the amount you owe considerably over the term of the loan.