6 Ways Student Debt Can Impact Your Mental Health & How to Deal

Given the high cost of education and the fact that most jobs still require a degree, taking out a loan can really feel like the only possible solution for students who can’t afford to pay their tuition. But, is a loan a holy grail or rather a trap for learners?

Taking out a loan to pay for your education sounds like a very typical thing to do. Many young people do this, so it seems to be the norm. But, what many students do not realize is that getting into this venture can trigger a whole range of long-term issues, primarily in terms of your mental health. To help you grasp the concept, let’s find out the main ways how student debt can affect your mental health.

1. Creating Additional Stress

We all know that students’ lives are extremely stressful on their own. Every learner is facing lots of issues, including many hours of lectures, excessive academic load, tight deadlines, complex tests and exams, too high expectations, and much more. Luckily, some of these stresses are rather easy to get rid of. As reported by students themselves, they feel the most stressed due to a large number of academic assignments. 

Luckily, today, young people have the possibility to delegate their tasks and ease the tension. For example, the experts from WritePaper offer students professional paper help to let students take a break from their assignments, without letting their grades drop. By turning to professional help, students can complete their tasks on time and get high grades with literally no effort. Thus, it is a good way to reduce stress. But, unfortunately, not all stresses facing you in college are that easy to get rid of.

Such issues as student debt are much more complex. For decades, the financial struggle has been linked with chronic stress and even to increased suicide rates. What’s more, excessive stress levels are known to put more wear and tear on one’s cardiovascular system, which can make you develop a whole range of mental health problems. So, this is one way how debt can affect your health.

2. Putting You in the Group of Risk

According to studies, people who experience financial issues are three times more likely to commit suicide. Consistently low quality of life associated with debt, as well as the feeling of financial insecurity, have been proven to put people in the group at risk for developing severe mental illnesses that can lead to suicidal thoughts and actions. So, this is one more effect a student debt can have on your mental health.

3. Changing Behaviors

One of the quickest and most notable impacts of student debt on one’s mental health is an adverse change in behavioral patterns. According to specialists, financial stress can trigger a whole range of changes. To name a few, people experiencing it can notice a tendency for procrastination, changes in appetite, and an increase in nervous behaviors.

All these changes can eventually only add pressure to an already stressed student. As a result, the risks of developing permanent mental health issues increase.

4. Triggering Alcohol and Drugs Abuse

Constantly growing stress and anxiety caused by student debt often make young people resort to antidepressants, alcohol, and even drugs to help them deal with issues. Needless to say that such “solutions” are extremely destructive for one’s personality.

As a result, this can lead to addiction. Moreover, substance abuse can result in a growing debt, which will take a borrower into a vicious circle that seems to be never-ending.

5. Developing Long-Term Depression

Among the worst effects of student debt on one’s mental health is the possibility of developing an ongoing depression. According to surveys, around 53% of borrowers have experienced severe depressions due to their financial situation.

Continuous depression can trigger a number of additional issues. It can lead to burnout, as well as to a drop in productivity and academic performance, and more.

6. Acquiring Physical Health Problems

Finally, one more way how student debt can affect you is by transforming the acquired mental health troubles into real issues with one’s physical health. To name a few, you can get insomnia, increased headaches, lack of focus, more frequent infections and colds, and much more.

As a result, due to health problems, your working ability may decrease. That is, you can get into even more financial struggles.

How to Deal With and Prevent Mental Health Issues?

Based on everything we’ve discussed earlier, we can conclude that student loans are often associated with stress, changing behaviors, anxiety, depression, and a whole bunch of other issues. Eventually, the feeling of hopelessness and lack of control can trap young people in an ongoing mental health crisis.

But, is there anything one can do to  deal with existing financial problems and prevent the development of new ones? In fact, yes. Let us give you a few tips in this regard:

  • Keep active – regular sport and physical activity is proven to help reduce stress, anxiety, depression, and other issues. Thus, even if you are currently feeling like doing nothing and spending your entire day in a bad mood, don’t do that! Instead, keep active and it will definitely make you feel better!
  • Talk about your issues – regardless of the problems you are facing, keeping silent about them is not an option. Moreover, talking about your problems aloud often helps reduce stress and find a solution. So, find someone to share your feelings with.
  • Develop a plan – if you are experiencing mental issues due to a student loan, one of the best ways to deal with it is to develop a plan of action. Think about how you can pay off your loan and improve your financial situation. And, once you have a plan, start acting!
  • Eat and sleep well – often, experiencing increased stress levels people forget about the importance of eating and sleeping well. This only worsens the situation. Thus, if you want to deal with your problems and not make them worse, be sure to get enough sleep and eat well regardless of anything.
  • Avoid alcohol and drugs – though it can seem like a good way to unwind and forget about your problems, you have to remember that drugs and alcohol only bring short-term relief. Remember that it is not a solution, but rather a way to make things worse.
  • Take a break – sometimes, all you need to defeat stress is to take a break and relax. Take time to distract from your everyday issues and devote some time to yourself and your well-being.
  • Ask for help – in case you feel like your issues are not going anywhere, the only wise solution is to ask for help. So, don’t hesitate to seek counseling if you need it.

The Bottom Line

Now you know about the possible negative effects of student loans, as well as about the ways to deal with them. So, whether you are just thinking about taking out a loan or already have one, we hope that this article will help you recognize the potential problems and find effective solutions.

In the end, one last thing we’d like to say is that you are not alone there! Millions of students are facing the same issues. So, don’t give up, and don’t let student debt ruin your state of well-being!