海角大神

Student loans: The more you learn about them, the more questions that seem to crop up. What鈥檚 the best way to聽get out of student loan debt? Can I simplify聽my monthly payments? Whom do I talk to about all this?

It鈥檚 easier to surrender to binge-watching more of your current favorite show on Netflix than it is to deal with your loans, but the Department of Education knows you need to face them at some point聽鈥� which is why you spent 20 to 30 minutes in聽student loan exit counseling聽after you left school. Unfortunately, it鈥檚 easy for even the most diligent borrower to miss a few important things along the way.

Here are five tips from exit counseling you probably don鈥檛 remember, but should:

1. Think of your student loan servicer as your new best friend

Your聽student loan servicer聽is the company that receives your payments, so it should be your first point of contact if you ever have trouble affording them聽or have questions about your loan. You should also contact your servicer if you:

• Graduate or leave school. Your servicer needs to be up to date on your progress. Keeping in touch will also help you learn about your grace period and repayment options.
• Change your name, address or phone number.
• Transfer schools.
• Are a reservist called to active duty with the U.S. armed forces for more than 30 days.

Find your servicer by visiting the聽National Student Loan Data System. You鈥檒l need your Federal Student Aid ID to log in.

2. Take advantage of tax benefits

The next time you鈥檙e doing your taxes, remember to check if you qualify for tax breaks based on your loans or student status. There are two main types of tax 鈥渞ewards鈥� you may be able to take advantage of:

1. Deductions:聽These reduce your taxable income and apply to educational expenses, as well as the interest you pay on student loans during a given year.
2. Credits:聽These reduce the taxes you owe and apply to educational expenses while you鈥檙e in school.

In general, tax credits 鈥� which can result in a refund 鈥� are better than deductions. Whether you鈥檙e filing jointly with a spouse, on your own, or your parents claim you as a dependent, you鈥檙e likely eligible for some kind of benefit. The IRS has more details on聽tax benefits for education.

3. Keep an eye on your subsidized federal loans

If you take longer than your published program length to graduate, you might聽become responsible for the interest on your subsidized loans while you鈥檙e still in school. Why? Subsidized loans, which are usually interest-free while you鈥檙e in school, have a聽maximum eligibility period.

The limit applies to those who first took out federal loans on or after July 1, 2013. If, for example, you take more than six years to finish a four-year degree 鈥� or 150% of your published program length 鈥� you鈥檒l lose your eligibility for direct subsidized loans. You can still take out the maximum amounts, including sums for both subsidized and unsubsidized loans 鈥� but you鈥檇 be responsible for paying the interest, so it鈥檇 be 鈥渟ubsidized鈥� in name alone.

4. Consolidate your federal loans to keep track of payments

Consolidation 鈥� the process of聽combining your loans into a single, new loan 鈥� can simplify your payments, but it might cost you more in the long run. If you consolidate your federal loans, your interest rate will be the average of your current rates, rounded up to the nearest 1/8 of 1%. That鈥檚 not a huge difference, but it can add up, especially if your loan term is extended in the process. Keep in mind that you may end up paying more overall if your loan term is extended and including your Perkins loan means you鈥檒l lose public service forgiveness benefits on that loan. Once applied, consolidation can鈥檛 be undone.

5. Contact the FSA ombudsman if you鈥檙e really in a bind

If you鈥檝e tried working with your servicer but still have issues with your federal loans, it might be time to contact the聽Federal Student Aid Ombudsman Group. It鈥檚 an impartial outlet dedicated to helping you resolve聽federal student loan concerns 鈥� but it鈥檚 a last resort.

You can call the office for free at 877-557-2575, send a fax to 606-396-4821, or complete this聽contact form. Use this聽checklist聽to make sure you鈥檙e prepared before reaching out.

Devon Delfino is a staff writer at NerdWallet, a personal finance website. Email:聽ddelfino@nerdwallet.com. Twitter:聽@devondelfino.

This story originally appeared on NerdWallet.