Roughly 43.5 million Americans are in the process of paying off their student loans. And for many of those people, the monthly payments are extremely burdensome.

The average monthly student loan payment is $337, according to a Motley Fool research study on student debt. And not shockingly, 15% of Americans with student loans are behind on their payments.

But even if you've managed to make your student loan payments on time, you don't want to let your retirement savings fall by the wayside. And while the idea of saving for your senior years and paying off student loans at the same time might seem laughable, rest assured it can be done.

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Source Fool.com