If you don't make payments on your student credit card, your debt will increase rapidly. Interest will be charged on the balance, and you may also incur a late payment fee of around $10 to $30. If you continue to carry a balance on the card, you'll be charged interest on the entire balance, including the late payment fee and interest charges. This could also negatively impact your credit report. Always aim to pay at least the minimum amount by the due date on your statement, and contact your issuer to discuss your circumstances if you're struggling to meet these payments.