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Student loan debt: How to reduce those monthly payments

The college class of 2016 will graduate with an average of $37,000 in student loan debt. Yet $2.7 billion in free federal student aid goes unclaimed every year. TODAY financial editor Jean Chatzky offers simple strategies to help students reduce those monthly payments.

Student loan debt: How to reduce those monthly payments

03:35
/ Source: TODAY
By TODAY

The college class of 2016 will graduate with an average of $37,000 in student loan debt. Yet $2.7 billion in free federal student aid goes unclaimed every year. TODAY financial editor Jean Chatzky offers simple strategies to help students reduce those monthly payments.