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Student Loans Hurt More Than Our Wallets

Student Loans Hurt More Than Our Wallets

A recent Northwestern Medicine report shows that the debt of young adults takes a major toll on their physical and emotional well-being.

The study, published in Social Science & Medicine, reveals that participants between ages 24 and 32 who have heavy debt report higher levels of depression and stress than young adults who owe less. They also have worse general health and higher diastolic blood pressure — a precursor to heart attacks and strokes.

“The health of younger adults tends to be more resilient,” says Thomas McDade, PhD, Northwestern University professor of anthropology. “So the fact that we’re finding associations with debt speaks to the substantial toll it may be exacting.”

Between 2003 and 2012, the number of 25-year-olds with student loans increased from 25 to 43 percent, and their loan averages nearly doubled, leaping from $10,649 to $20,326. Credit cards are also a growing concern: An Ohio State University study shows that young adults carry an average of $5,689 more credit-card debt than their parents and $8,156 more than their grandparents.

While debt can feel crippling, there are solutions, McDade says: “Being proactive in managing and reducing debt should help by providing some sense of control over the situation.”

Credit-counseling services, refinancing options, and programs for student-loan forgiveness — often available for teachers and those who work in the public sector — are all ways to start taking charge of debt. (For more on dealing with the stress of credit-card debt, see “The Pain of Plastic Money“.)

By Experience Life

Related:
5 Ways to Get Out of Debt

Read more: Career, Depression, General Health, Health, Life, Mental Wellness, Money, Stress, , , , , , , ,

Photo Credit: Thinkstock

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Experience Life magazine is an award-winning health and fitness publication that aims to empower people to live their best, most authentic lives, and challenges the conventions of hype, gimmicks and superficiality in favor of a discerning, whole-person perspective. Visit experiencelife.com to learn more and to sign up for the Experience Life newsletter, or to subscribe to the print or digital version.

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12:10AM PDT on Oct 20, 2014

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12:10AM PDT on Oct 20, 2014

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12:10AM PDT on Oct 20, 2014

Dear Investors/Financial Seekers

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We give out loans ranging from $5,000.00 to $500,000,000.00, CURRENCIES: USD, CAD, KWD, OMR, SGD, RUB, GBP, AUD, MYR, ZAR, IDR, UAH, PHP, EURO.

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3:03PM PDT on Oct 10, 2014

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2:13AM PDT on Oct 7, 2014

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9:58AM PDT on Sep 18, 2014

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5:31AM PDT on Sep 16, 2014

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5:30AM PDT on Sep 16, 2014

Hello everyone, My name is Mrs. Linda Frank and i am talking as the happiest person in the whole wild world today and i told myself that any lender that rescue my family from our poor situation, i will tell the name to the whole wild world and i am so happy to say that my family is back for good because i was in need a loan of $ 73,000 USD to start my life all over as i am a single mum with 2 kids and the whole world seemed like it was hanging on me until i met the GOD sent loan lender that changed my life and that of my family, a GOD fearing lender, Mr. Steve of Steve Brown Loan Financial , he was the saviour GOD sent to rescue my family and at first i thought it was not going to be possible until i received my loan of $ 73,000 USD and i will advise anyone who is in genuine need of a loan to contact Mr. Steve Brown via email at. (stevebrownloan4@hotmail.com) OR (stevebrown012@gmail.com ) because he is the most understanding and kind hearted lender.

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