Jeremy Parayos didn't realize that paying off school loans for his education at Rutgers University would saddle him with a $300-$400 bill every month for 10 years after graduation. "It's very difficult to pay off," admits the recent graduate, who is teaching in Venezuela. Then again, says Parayos, he wasn't exactly careful when he signed on the loan's dotted lines. "I should not have taken out extra loans to pay off my credit cards (woops!), and I could have searched a bit harder for those hard-to-find scholarships." Now, however, he says every month is a struggle.

Nevertheless, borrowing is a vital part of college financing for many students. The trick is figuring out how much debt is too much debt. Paying back the loans doesn't have to be that painful, especially when you're smart with your loan choices from the beginning, says Pat Scherschel, consolidation product executive at Sallie Mae, an educational loan provider. She offers several options for preventing loan debt now and forever:

It's OK to be cheap
When it comes to borrowing dollars to fund your education, Scherschel urges you to be as frugal with your loan selection as possible. She advises consulting with your school's financial aid office to determine the loan best suited for your repayment pocket.

According to Scherschel, a Federal Subsidized Stafford Loan is the cheapest loan available right now. Many students qualify for Federal Subsidized Stafford Loans, and the best part is that the federal government pays interest while you're in school, during your grace period, and during some authorized periods of non-payment after you leave college. The interest rate changes every July, and cannot exceed 8.25 percent. In recent years, interest rates have been borrower-friendly, even dipping below 4 percent.

And by all means, says Scherschel, a student loan is more cost-effective than swiping your credit card. Remember: The object of the money-borrowing game is to find the lowest interest rate.

Pay as you go
Again, in the case of the Federal Subsidized Stafford Loan, the government's got your financial back on the interest tip throughout your school days and beyond. With the Federal Unsubsidized Stafford Loan, you have until six months after graduation before you begin repayment. Even though you have a grace period in both loan cases, that doesn't mean you have to wait until the loan payment time to start settling your debt.

"Pay the interest as it accrues, or at least make a big lump-sum [payment while in college]," urges Scherschel.

Turn several loans into one
How is this possible? One word, says Scherschel: consolidation. By combining all of your loans into one after you graduate, you can simplify the aid process and reduce your monthly payment. Beware, though--since you may be grouping low-interest loans with high-interest ones, you might end up paying more interest and ultimately more money over the life of the loan. Be sure to make an informed decision if you go the consolidation route, by speaking with a financial aid adviser or your accountant.

The bottom line to all this loan-debt talk? Don't let it take you by storm. Get the financial facts first, weigh them, make your decision rationally, and then get to schooling.