Student loans remain one of the biggest financial burdens for Americans. Even retirees are impacted, either carrying balances themselves or co-signing for children and grandchildren. In 2025, borrowers are realizing they could have saved thousands with the right strategies—if only they acted sooner. Here are 10 student-loan tactics many wish they had tried a year ago.
1. Refinancing at Lower Rates Earlier
When interest rates dipped, many skipped refinancing. Today, rates are higher, and opportunities are gone. Borrowers who refinanced early locked in long-term savings. Retirees especially regret missing this window. Timing matters in student loans.
2. Signing Up for Income-Driven Repayment Plans
IDR plans adjust payments to income, but some borrowers delayed applying. A year later, they’ve paid more than necessary. Retirees on fixed incomes qualify for reduced obligations. Acting earlier would have freed cash flow. IDR is often underused.
3. Pursuing Forgiveness Programs Sooner
Public Service Loan Forgiveness and other programs require years of qualifying payments. Delays in enrollment waste time. Retirees in eligible careers missed progress toward forgiveness. Starting early creates maximum benefit. Forgiveness doesn’t work retroactively.
4. Making Extra Payments Toward Principal
Even $50 extra a month a year ago would mean hundreds saved in interest today. Borrowers often underestimate small contributions. Retirees with side hustles could have chipped away faster. Every early payment reduces long-term burden. Small steps add up.
5. Consolidating Loans for Simplicity
Managing multiple servicers creates confusion. Borrowers who consolidated earlier avoided missed payments and late fees. Retirees juggling co-signed loans regret the complexity. Consolidation simplifies strategy. The organization saves money.
6. Exploring Employer Repayment Assistance
Many companies now offer loan repayment benefits. Borrowers who asked a year ago are reaping rewards. Retirees working part-time missed opportunities by staying silent. Employer programs are growing, but action is required. Asking earlier pays off.
7. Adjusting Budgets to Free Extra Cash
A year of skipped dining out or subscriptions could have gone toward loans. Retirees and younger borrowers alike regret not reallocating spending. Budgets tell the truth about priorities. Sacrifices are cheaper than compounding interest.
8. Applying Windfalls Strategically
Tax refunds, bonuses, or inheritances often disappear into general spending. Applying them to loans creates major progress. Borrowers a year ago could have eliminated entire balances. Retirees especially regret missed lump-sum opportunities. Windfalls are rare but powerful.
9. Using Autopay for Lower Rates
Many servicers offer small interest discounts for autopay enrollment. Borrowers who skipped this left money on the table. Retirees uncomfortable with automation pay more than necessary. A simple step saves every month. Autopay rewards consistency.
10. Seeking Professional Guidance
Student loans are complex, but many never consult experts. A year ago, advice could have prevented costly mistakes. Retirees often overlook student-loan planners. Guidance accelerates payoff strategies. Professional help pays for itself.
The Takeaway on Student Loans
Student-loan regret often stems from inaction. Borrowers who acted a year ago enjoy lower balances today. Retirees and families can still act, but waiting costs money. The smartest borrowers don’t delay. Time is the biggest factor in loan payoff success.
Which student-loan tactics do you wish you had tried earlier, and which ones do you think work best in 2025?
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Teri Monroe started her career in communications working for local government and nonprofits. Today, she is a freelance finance and lifestyle writer and small business owner. In her spare time, she loves golfing with her husband, taking her dog Milo on long walks, and playing pickleball with friends.