According to consumerfinance.gov, the amount of student-loan debt has surpassed $1 trillion. Below is list of tools that can help you cut down the payments and interest rates.

1)Consolidate your loans.

By consolidating, you are combining a number of loans into one monthly payment. The pros are you have one payment at one interest rate. You may be able to lower your overall interest rate, but keep in mind that if you increase the repayment period, that’s more payments and potentially more money being paid out.

You an consolidate your federal loans or your private loans. There are a few options for a private student loan consolidation, such as cedaredlending.com

2)Increase the frequency of your payments.

This is an easy way to cut down on your interest payments. For example, If you have a student-loan payment of $800 a month, pay $400 every two weeks. This will help cut down on your interest and end up saving you in the long run.

By doing this, you wind up making the equivalent of an extra monthly payment each year.

For example, $800 a month equals payments of $9,600 each year. But $400 every two weeks equals payments of $10,400 each year.

3)Work for a service organization.

Whether it’s the military, Peace Corps or Teach for America, many service organizations offer grants that you can use toward student loans.

Teach for America says it will pay 100 percent of the interest on qualified student loans while you’re in the organization.

Peace Corps members are eligible to receive an $11,100 grant.