When a loan application is made, the lender will then undergo a lengthy application process which consists of assessing the potential borrower to see if they’re a suitable fit for the loan. One of the biggest risk factors that lenders take into consideration when deciding whether or not to approve a loan is the age of the borrower. So, for example, if you are older in age, then lenders may be reluctant to approve your loan application simply due to the fact that you may have fewer working years left to pay back the loan before you reach retirement. On the other hand, if you are younger in age, then lenders may be less likely to approve a loan to you due to the fact that you will likely have less experience managing money, as well as little to no experience in paying back debts.  In addition to this, another hugely important factor that is taken into account during the decision-making process is the credit score of the potential borrower - which is something that most young people do not yet have. All of these factors combined mean that getting a loan as a young person can often be quite difficult to achieve, although there are some steps that can be taken to help boost your chances of getting approved by a lender.