Sure. But they are also folks that dropped out for whatever reason. Additionally, most folks take out the loan when they are still in high school. A lot of these folks only had a short class in personal finance, if any. Mine was when I was in 8th grade (out of 12). This lasted for 6 weeks, but only once a week. During that time, the "special teacher" - a car salesman - gave us extra credit if our parents looked at a car.