Dec 12, 2016 12:00 PM EST By Chris Brandt, UniversityHerald Reporter

An average student graduates from university with a $26,000 debt under his or her name. The higher the debt, the more difficult it is to invest on other things, such as a house or a car. Therefore, you need to have a strategy to keep your debt from getting unmanageably high. Here are 5 essential tips how to do that.

Don't borrow more than you can pay

This first tip is a no-brainer but there is an addtiion to this: do not borrow more than your expected salary of your first job after graduation. Make sure that the loan you have applied for is payable in 10 years or less than that without hurting your future income.

The best way to get an idea how much you'll be earning in the future, go to a website, like PayScale which contains information about the expected salary of each degree.

Consider federal loans first before anything else

Federal loans have a lot of advantages over private ones. Fthe most important of all is that they have a fixed interest rates instead of variable ones. Secondly, they have deferment periods where you don't have to pay it if you are unemployed or still studying. Lastly, you don't need a co-signer when applying the loan making it much easier and more accessible.

Consider a career in public service

Those who have been in public service, such as military or public school teacher, are eligible for Public Loan Forgiveness. According to an article on Forbes, this cancels all your student loans after being in active services as a public officer for 10 years. So if you are pursuing a career in this field, it's okay to take on more loan than your first year's wage.

Utilize your community college

Find a community college where you can take classes that will transfer credits to your college. Also check if you can only earn a general credit there or a specific one to substitute another class. If you can, go ahead and take that class.

Plan your courseload

Find o ut whether your college charge a flat rate no matter how many credits you take or when their discount season is. Take advantage of them and when there is, take more credits. You won't only save money but you will also finish school much faster.

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