The biggest cause of financial debt for college students are the costs of tuition and educational materials. While loans and other financial aid can help to ease the burden of tuition, there are often still registration fees, books, and other educational supplies that financial aid will not cover. Students have to pay these amounts out of pocket, usually before beginning class.
Course workload is also cause of financial problems for college students. If a student is taking a full course load, which is usually comprised of a full day of classes Monday through Friday, he may only have time to keep a part-time job on the weekends or for a couple of hours in the evenings. This does not allow for making very much in extra cash, which really requires the need for budgeting. Students with an extra-heavy course loads may not be able to work at all, and thus must rely on parents to send money from home.
The majority of college students that live on campus do so because they are furthering their education in another state or region, or even internationally. Many are far from home, relying on part-time jobs alone or family members to keep them up by sending them money and supplies. It is often a burden when money or supplies run out, because it will take time to have more sent.
For many college students, being away from home and short on money can pose a dangerous temptation toward credit cards. Credit cards seem to be a simple solution to money issues until the credit has to be paid back. College students often do not realize the hazard of putting large amounts of money on credit cards, whether they or a family member will ultimately pay the bill. Debt can add up fast, resulting in amounts that cannot be paid, high interest rates and ruined credit.