College debt effects on students



Students around the nation continue to graduate with student loans.


When you hear the word “college,” what do you think of? Some people may think about the future, freedom and education. But one of the biggest things students think of is the tuition and if they need to take out a loan. But the problem with a loan is that student loan debt is the most growing issue happening in America today. And in tune with paying that student loan debt is the stress that comes along with it, which then affects the borrowers’ overall mental health. But why is no one talking about this seemingly never ending issue? 

A recent study done by the University of South Carolina shows that recent college graduates who borrowed money were more likely to suffer from bad mental health than those who did not borrow any money. Even with just these results, it is not just the borrower’s financial situation that is affecting them but what it eventually brings up in their mental health. 

As the university concluded their research, they found borrowers tended to be more stressed and depressed due to the anxiety they had gotten with just knowing that they were thousands of dollars in debt. It is a fact that there is a link between paying off student loans and your mental health, but the stress can also damage your overall health as well. This stress can increase your chance of getting heart disease, obesity, stroke and many other mental and physical health issues. 

But we really do not know a whole lot about how much paying off this debt is affecting all of these borrowers. A part of this reason is because no one really likes talking or even admitting that this is the cause of their problems. 

To many people they must think this is their fault; it was their decision to take out a loan so they must deal with the repercussions that you get from it. But what most people tend to forget is that these people don’t really have much of a choice in order to get a better education and make something of themselves. Take it from someone who is currently paying their way through college and did have to take out a loan. We all do not have that much of a choice, if we were not able to get scholarships or don’t have anyone to assist you in paying tuition there isn’t really that much of a choice. But, paying off your debt does not have to stress you out. That’s not saying that debt is good, but if you handle things right, you can find a way to work your way through this and be able to live your life debt free. 

One of the first things you can do is jump pass the denial stage of accepting having to pay off that that. If you ignore the fact you have to pay off that much money then that debt will never be paid off and interest may begin to accumulate and you will have to pay off even more than what you had to originally. 

The next thing you can do is go through all of your finances and create a budget. Once you have set this budget then you can see how much money you have that you can put to paying off that debt. 

Even if it is 20 bucks a month it is still something. And lastly set a date for yourself that you will have a certain amount or all of your student loans paid off. As an incentive for this goal tell people around you about this date and once you’ve achieved your date, celebrate. Throw yourself a “I’m debt free” party. This might sound a little bit silly but if you have something to look forward to paying off this debt might come a little easier for you.