Morsel of knowledge for the day: credit card debt may be easier to get out of than student loan debt, according to a recent New York Times article. 

Students loans can be described as the Gremlin of some 20-something lives. Like those 1980s monsters, student loans must be handled delicately if you don’t want them to turn into a grotesque creature.

One student from the story watched her $23,000 student debt swell to $63,000 when she failed to pay. Her loan company ultimately garnished some of her wages, and the ordeal contributed to the demise of her relationship with her boyfriend.

The story focuses on a 38-year-old Alan Collinge, who has spearheaded an effort to change bankruptcy law and prevent lenders from terrorizing the lives of former students who can’t pay. He owes a whopping $100,000.

I’ve heard student lending dubbed “The Wild West” of the loan industry, but it’s hard to feel bad for Collinge. He apparently hasn’t had a steady job in a few years, according to the article, but has dinero for salsa and tango lessons and no dough for his debts.

What about the rest of us who skip vacations and skimp on extra-curriculars so we can act responsibly and meet our monthly payments?