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Student Debt

Out of all people, students are some of the most vulnerable to getting into debt. Youth and naivety play a definite role of course, but there are other reasons as well.

Students, being young people, do not have much of a credit score. This means that almost nobody is willing to loan them money. The only people willing to loan students money are therefore able to charge higher interest rates than average. Credit card companies are the most common.

The second amount of student debt only kicks in once the student graduates.  Student loan debt is usually in the five to six figures (especially if the student goes to graduate school as well) and is payable six months after the student graduates. Assuming the student can find a job that pays the bills, things will go fine. Otherwise, the student loan debt goes onto the credit card and things start getting explosive.