ATHENS, Ga. — Recent research by the University of Georgia links mental health issues among college students and student loan debt.
A release from the university published Tuesday said the rejection of a student loan relief plan in June by the U.S. Supreme Court may have a long-term impact on the mental health of college students and graduates.
To come to this conclusion, researchers analyzed almost 90,000 posts on social media related to student loans, posted between 2009 and 2020.
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According to UGA, the study excluded commentary and posts from political figures and policymakers.
As summarized by the university, the study found that high levels of mental health issues, including depression, stress and worrying thoughts were tied to student loan debt, performance pressure, and negative outcomes in academic and personal settings.
The posts surveyed, made on Reddit and Twitter over 11 years, were analyzed if they had first-person pronouns and included surveys of community hubs related to finance and mental health.
“Statistically significant associations were found between mental illness statuses and sentiments and emotions,” the study said. “Posts expressing mental illness showed more negative sentiments and were more likely to express sadness and fear.”
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The UGA researchers described the study results as showing a mental burden created by debt can either increase or lead to mental health problems.
“Student loan debt per se is not a bad thing, but people need to know what they’re getting into,” Gaurav Sinha, lead author of the study and an assistant professor in UGA’s School of Social Work, said. “People have a limited cognitive bandwidth. We spend a lot of time thinking about money and our debts. That not only affects your financial health but also your mental health.”
Sinha said for users who already had mental illness symptoms, the stress of paying back student loans contributed to a worsening condition.
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More simply put, the research showed most posts about student loans and mental health were negative, expressing “higher levels of negativity than those in both the finance subreddits and on Twitter.”
“Many users had too much money to pay back, they didn’t get those dream jobs they thought they would with their degree and now they don’t know what to do,” Sinha said. “They feel trapped.”
Alongside the stress and negativity of student debt seen on both Reddit and Twitter, Sinha said the students and graduates posting frequently “said they wished they had more education for the amount of debt they were taking on and what that could mean for their future earnings and savings,” as well as wishing for a better financial education.
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