BOSTON (CBS) – For the first time, student loan debt is higher than credit card debt and that is a strain on families.

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Student loan debt topped credit card debt for the first time last year and the total amount of outstanding student loan debt is likely to exceed one trillion-dollars this year as more students borrow money to go to college. Sandy Baum is a higher education policy analyst and Senior Fellow at George Washington University and she says Federal student loans are still the best deal.

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Baum says simply, parents and students need to be informed about paying for college.

But Baum says borrowing money for college, overall, is still a good thing to do.

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Two-thirds of bachelor’s degree recipients graduated with debt in 2008 compared with less than half in 1993. Last year, graduates who took out loans left college with an average of $24,000 in debt.