Student Loan Debt Is Damaging to Mental Health, Survey Finds

Student
Loan Debt , Is Damaging
to Mental Health,
Survey Finds.
CNBC reports a new survey finds student loan debt is causing mental health issues among borrowers in the United States.
The CNBC + Acorns Invest
In You Student Loan Survey
conducted by Momentive... .
shows over 60% of borrowers say their mental health has been negatively
affected by student loan debt.
When people aren’t able to
pay their bills or their student loans as quickly as they should, there is a level of shame
and sometimes guilt. , Aja Evans, mental health counselor for Laurel Road, via CNBC.
When people aren’t able to
pay their bills or their student loans as quickly as they should, there is a level of shame
and sometimes guilt. , Aja Evans, mental health counselor for Laurel Road, via CNBC.
That can quickly turn into
feeling bad about yourself ...
because you’re worrying
about the financial
stresses in your life. , Aja Evans, mental health counselor for Laurel Road, via CNBC.
The survey found that the less income an individual earns, the more likely they are to be negatively affected by student loan debt.
For example, less than 50% of those who earned more than $100,000 say student
loan debt has affected their mental health.
In comparison, 70% of those who earn
less than $50,000 per year say student
loan debt has been a massive burden.
A moratorium on federal student
loan payments and accrued interest
has been a lifeline for many
during the COVID-19 pandemic.
As the moratorium comes to an end in May, many borrowers remain unsure and anxious about the financial difficulties they
face as payments resume