Student loan debt and mental illness are two recent high-profile problems on college campuses — and a new report might have found a direct link between them.
People need to better understand how student debt impacts the lives of young adults, said University of South Carolina professor Katrina Walsemann, who was the main author of the research.
She related psychological functioning when individuals were age 25-31 to the cumulative amount of student loans borrowed over the course of schooling, as well as the yearly amount of student loans borrowed while in college.
“This report was timely given that the increased cost of higher education made borrowing money essential for many students,” said Walsemann. “It is surprising little research has investigated the implications of student loans on mental health.”
Daniel Gitterman, chairman of the Department of Public Policy at UNC, also said it’s the perfect time to study long-term effects of paying for education.
“Stress of going into the labor market, getting your first job and earning enough to live on, plus whatever percentage of monthly income to pay back student loans, would be stressful,” said Gitterman. “The more debt you have, more stress you get.”
UNC freshman Lauren-Austyn Arney said her roommate frequently checks bills while doing her schoolwork because she just can’t put it aside.
“I’ve met people who are still working on repaying loans, like teachers in my high school,” said Colin Russell, another freshman.
Walsemann said she wants future research to be conducted because it is also possible that student loan debt might change other life circumstances that are related to mental health, such as delaying marriage and having to get multiple jobs.
