Editor’s note: This is a transcript of the audio file.

Stafford loan interest rates are climbing higher this year and Pell Grants will be harder to qualify for. Higher education is getting more expensive all around. But don’t think for a minute it’s not worth it! I’m Kristin Arnold with your Bankrate.com Personal Finance Minute.

Yes, college costs are rising nearly three times the rate of inflation. Many students will graduate with more than 40-grand in student loan debt … and entry level jobs are not as abundant. But, think about your alternative. Is it better?

What will get you more money and a higher position is a college degree – along with smarts and hard work! So, instead of mindlessly taking out loans – carefully evaluate the type of student loan you’re taking on and how much debt you can reasonably handle based on how much jobs in your major pay.

86 percent of college graduates say their education has been a good personal investment.

Before you decide on a college, major and what type of grants and loans you’ll need – visit the college finance section at Bankrate.com. I’m Kristin Arnold.