In the case of the rapid development of We-Media and mobile payment with phone as the core，the “naked IOU”，as an extreme form of campus loan，reveals a lot of problems of network loan among college students nowadays. With no economic foundations and right perceptive of network loan，driven by blind impulse of starting businesses and irrational consumption demands out of comparison and vanity，many college students apply for network loan rashly and get themselves into a bottomless economic trap under We-Media environment. The absence of legal system and financial regulation，especially the omission of the protection mechanism for financial consumers’rights and interests，have led to the increasing problems of network loan of college students. The only way to effectively reduce the negative effect of network loan is to guide college students to establish correct concept of entrepreneurship and consumption，strengthen relevant legislation and financial regulation and improve the protection mechanism for financial consumers’rights and interests.