I'm not sure how I missed this, but back in June The Wall Street Journal had this great interactive as part of their online site. The feature contains short interviews (less than two minutes in many cases) with people who attended a credit counseling program in the Midwest.
Their stories are informative. And their views about their responsibility, as well as the responsibility of creditors, can be informative and can open a lot of possibilities for your classroom discussion. Playing a couple or all of these and then discussing the information with your class may help them see the danger of improper credit use as well as matching their lifestyle to their resources. I encourage you to take a look and share your thoughts with the rest of us.