If you are considering taking out some student loans to pay for college, then you are certainly not alone. Over 60 percent of all college graduates have some level of student loan debt, and that number is growing each year.

For many people, student loans are a given. They feel that it is the only way that they will ever be able to afford college. This is, in and of itself, debatable. However, many people believe it is a fact of life -- particularly if they hope to attend an expensive, private school.

However, even if you pay every single penny of your student loans on time once they come due, they can still affect your credit negatively. Most people do not realize this when they are deciding how much money to take out.

If you have allowed your student loans to fall into default, then you are already aware of how serious a stain this is on your credit. And in reality, it is more serious than you may have thought since student loans, unlike most other credit damage, do not "fall off" your report after 7 years.

That default -- and the collectors -- will haunt you forever.

Here are some other ways that student loan debt is different from other types of debt:

*Creditors can garnish up to 15 percent of your wages without a court order.
This means that at any time, they can contact your employer and legally start taking out as much as 15 percent of each paycheck -- with no warning and you will have no legal recourse.

*Student loans can be collected via income tax refund.

While you are in college, you may find that there are many temptations. Often, student succumb to peer pressure and elect to drink to excess. They may neglect their studies, or cheat on tests in order to get by. These are all fairly common issues, and they are dealt with in great deal by all the people who are present to help you prepare for college.

These people include your parents, your high school guidance counselor and your teachers. Once you are in college, there are still people in place to look out for you, and the primary holder of that role is your academic advisor.

However, there is one temptation that academic advisors often overlook, underestimate or simply ignore.

That temptation is "The Student Loan Trap."