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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, , , , , , , ,

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Experience Life

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.

84 comments

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8:27AM PDT on Jul 27, 2015

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2:46PM PDT on Jul 22, 2015

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4:41AM PDT on Jul 19, 2015

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Do you want financial assistance in your business?
Do you want to buy your dream house and car?
Do you want to start up a business and you dont know where to start from?
Have you been turned down constantly by your banks and other financial institutions?
worry no more because we give out loan At an affordable interest rate of 2%? Processed within 24 hours.and a repayment duration period of 1year to 10years to any part of the world.We give out loans within the range of 5,000 to 100,000,000 USD Just for only one fee, which is the Registration fee while the company will be paying all other fees, Any loan company asking for more than one fee is a scam and bewear of that company. Our loans are well insured and maximum security is our priority.contact us today at(maxwellloans24@outlook.com) where your needs are meet and your worries are over.

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9:23PM PDT on Jul 8, 2015

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9:19PM PDT on Jul 8, 2015

HOW I GOT MY LOAN FROM HERMAN CEIN LOAN FINANCE (CEINLOANFINANCE@YAHOO.COM)

Hello everyone, My name is Morgan Steev white, I am from the New Jersey, United State, am here to testify of how i got my loan from Mr Herman Cein { ceinloanfinance@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right here this forum,i thought their lending where real and i applied but they never gave me loan until a friend of mine introduce me to Mr Herman Cein the C.E.O of Herman Cein Loan Finances who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Herman Cein, who really helped me with my loan and changed my life for the better. I don't know if you are in need of an urgent loan also, So feel free to contact Mr Herman Cein on his email address: { Ceinloanfinance@yahoo.com}or call (201) 720-8275 for help.

9:16PM PDT on Jul 8, 2015

HOW I GOT MY LOAN FROM HERMAN CEIN LOAN FINANCE (CEINLOANFINANCE@YAHOO.COM)

Hello everyone, My name is Morgan Steev white, I am from the New Jersey, United State, am here to testify of how i got my loan from Mr Herman Cein { ceinloanfinance@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right here this forum,i thought their lending where real and i applied but they never gave me loan until a friend of mine introduce me to Mr Herman Cein the C.E.O of Herman Cein Loan Finances who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Herman Cein, who really helped me with my loan and changed my life for the better. I don't know if you are in need of an urgent loan also, So feel free to contact Mr Herman Cein on his email address: { Ceinloanfinance@yahoo.com}or call (201) 720-8275 for help.

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