Planning Ahead
Before I borrowed anything at all, I did my homework and looked into different kinds of loans and the repayment options they offered. I chosen a Federal Direct Loan, knowing that I'd have a six-month grace period after graduation before I'd need to start repayment. Since Direct Loans are funded by the federal government, the interest rates are fixed and very low, and borrowers can choose from a variety of repayment schedules and options. As I got close in order to graduation, I started adjusting my budget and making "fake loan payments" into my checking account, in preparation for writing the actual checks.
Preparing to pay for
Presumably, the six months of deferred payments are designed to give graduates an opportunity to find a job and start making money before starting repayment status. Though I already had a job, that "cushion" of time gave me the opportunity to go over my budget and prepare to pay; most of all, it allowed my post-graduation raise to go through along with my employer, so the extra money in my paycheck helped to offset the brand new loan payment expense. During the "in between" time after i had my raise but wasn't yet paying, I never let myself spend or get accustomed to that money; it went straight into the savings accounts, along with the money I'd been saving in planning.
Choosing How to Pay
One thing I considered carefully was how to setup payments. I had the option to pay one set amount each month throughout the loan, or I could opt for the "graduated" program, with the payment amounts increasing incrementally over the many years. I also have the ability to request partial or even full forbearances, which can change the amount of my payment -- or suspend it entirely -- for a fixed period of time. I opted for the fixed monthly payments, because I didn't want to become accustomed to paying less than I'd have to in the future; as long as I can stand to make the actual payment, I want to fork over the money and eliminate debt.
Starting Repayment
Since my interest was deferred till I began paying, I scraped together all the money I could to create a huge first-time payment. Because 100% of the initial payment went toward the main of the loan, every cent paid reduced the interest I'll purchase the life of the loan. Since then, I've regularly made payments, including some extra ones here and presently there. When I relocated and switched jobs, I was able to obtain a six-month forbearance (though I paid the interest to keep it from compounding) while I situated myself during my new home.