After graduation it may be a temptation to immediately move out on your own, and the idea of your own place is very exciting. If you can find a friend to share an apartment with you, or if you are willing to rent a room in a house with other people, you can save yourself a lot of money. Websites like www.craigslist.com have daily postings for housing, and individuals looking for roommates. Craig's List will allow you to search by your city, or even make a posting as an individual looking for a place to live.
After graduation, also carefully consider where you will be moving to. Research the cost of your dream city, and make careful comparisons. If you can settle for a less costly city early on in your career, it will make it easier for you to move to your ideal location later on. Websites such as http://www.bankrate.com/brm/movecalc.asp, will help you calculate the cost of living.
After four years of freedom you may not want to find yourself back with Mom and Dad, but a few years of living at home following graduation can save you thousands. Talk to your parents and work out a deal with them. Find out if they expect rent from you or not. While living at home and working you can manage your monthly payments while also starting a savings account for yourself. After leaving home you could use the money you've saved to pay off a lump sum of your loans, or use it as a reservoir for when money is tight on your own.
There are also many organizations that can help you pay back your loans while helping your community. Three of the best are The Peace Corps, Teach for America, and City Year. All of these organizations offer the possibility for a payment sum at the end of your service to be used to pay back your student loans. The Americorps website at http://www.americorps.org/ will help you find which program is suitable for you.