Student debt at an all-time high

(WPRI) - For the first time in history, student loan debt is higher than the entire Nation's credit card debt.

While navigating loans can be difficult, it is important to read and understand the fine print.

According to Eric Bell, founder of YoBucko.com , "you need to understand the terms of those loans. ... You have an obligation to repay those."

Some tips to keep in mind for those considering a student loan:

• Ask yourself, "will the salary of my chosen career be able to pay back the loan quickly?"
• Only borrow what you believe you can comfortably pay off
• Create a budget that includes any potential loan payments

For those who already have student loans and are still in school, make sure you know when your payments will start to kick in. Every type of loan is different, so check the payment schedule carefully

Taking out a loan for College can seem like a burden, but it can help young adults build a strong credit history.

Remember, if you are having trouble repaying, ask your lender for help. It is better to work with the lender than defaulting, which can derail a good financial future.