Save money where you can such as on your rent, food, textbooks, and other expenses. Then you can put the money you save toward your startup or business. This helps reduce your total student loan debt. Keep your cost of living down, manage impulse buying, and sacrifice a few extras like entertainment. This can pay off big further down the road.
Find a Business Partner
Having a business partner who can help fund your startup can help lighten your load. They may also have access to other funding options. The best choice in business partners can also provide valuable industry-specific experience and expertise that is worth more than money in many cases.
Research Alternative Funding Options
Ideally, the best way to reduce the risk of using student loans is to avoid using them for business purposes totally. If you feel there is no other way, and the risk is necessary, consider it as supplemental to other financing options. Treating it as a supplement helps you use less loan money toward your business.