Education loans can be a big help when planning for higher studies, especially in a premium institution. While taking a student loan is easy, many people struggle with repayment issues. These issues may arise when the student does not get employed on time or gets a salary less than what was expected. To avoid situations like these, it is important to have a debt management plan right from the beginning. And, with an education loan, the best form of debt management is lowering the overall liability amount. The following article explains a few tips on how you can reduce your higher education loan cost to make it more economical.