It’s no secret that student loan debt in the U.S. has become a big problem — with 43 million Americans now owing a total of more than $1.3 trillion in education loans.

That’s a lot of money — so much that it’s difficult to even grasp what $1.2 trillion means.

So let’s forget about those statistics and talk about what matters most to you — how student loan debt affects your life and your money.

Learn more: Follow this #1 rule to avoid big credit card debt

One of the biggest problems with student loan debt in America is the lack of understanding of how the process works from start to finish. When many people graduate college, they are in for a big surprise when those student loan payments start coming in.

So it’s crucial that you actually understand your loans — for two reasons:

•   so you don’t suddenly get slapped in the face by them,
•   and so you can make the best choices for you and your situation, including the best ways to get the debt paid off.

When it comes to borrowing money for college, there are three main rules you should try to follow in order to avoid taking on more debt than you can handle!

3 rules of student loan borrowing

Our Student Loans Guide has everything you need to know about your best options, dangers to avoid and how to pay back student loan debt!