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If you're currently wrestling with student loan debt, you’re not alone. A study done by Brookings Institution found that two in five borrowers are likely to default on their student loans within five years.

But before you go into panic mode, let's talk about what those survey results really mean and discuss ways you can avoid becoming a statistic. 

Believe it or not, it’s possible to drift into student loan default without even realizing it.

If you’re not on top of your loans, or if your finances have undergone some major changes, you could be at risk of default — and that could affect your finances for years to come.

With a to-do list that’s threatening to take over your weekend and an email inbox in need of attention, the last thing you have time for is a long, involved application process—even if it could mean saving thousands of dollars.

Fortunately, refinancing your student loans can be a relatively quick process, though you will need to set aside a bit of time and have some documents ready before you start. Here’s what you need to know. 

The standard advice goes like this: when you’re refinancing your student loans, go for the fixed rate so you can rely on having predictable monthly payments. With a variable rate, your interest goes up and down depending on market conditions, meaning that your payment could fluctuate. 

But there are some situations where a variable rate loan may actually be a better deal. Here are some scenarios.

Struggling to make ends meet while paying off your federal student loans? You're not alone. But the good news is that help is available. 

The government offers four income-based repayment plans — which adjust your monthly student loan payments based on how much money you make. Among the options is Income-Based Repayment, or IBR, which lowers student loan bills when you’re struggling to pay them. If you're interested in this option, here's what you should know.

If you feel like your monthly student loan payments are barely making a dent in your loan balance, it might be time to see if you qualify for a lower interest rate. In fact, lowering your interest rate by even 1% can save you thousands of dollars over the life of your loan.

So how can you get a lower interest rate? Here's what you need to know.