Mental Health And Student Loan Borrowing | Student Loan Planner


We did a survey of hundreds and hundreds of Student Loan Planner readers and we asked people about the stresses that student loan debt
causes on their life. And we did ask the question
have you ever contemplated suicide or had suicidal thoughts because of your student loan debt? Sadly, one in 15 people said that yes, they had thought that. So one in 15 borrowers
for high-debt borrowers, our audience is people who tend to owe disproportionately six
figures of student loan debt. One in 15 of these
individuals has considered suicidal thoughts, thought about suicide. So why is that the case? Student debt can delay big milestones like buying a house, starting a family, changing jobs, starting a business. And it can carry a very large mental load that prevents you from doing things and it can really honestly
make you feel trapped in a lot of cases, too. I think that student debt
doesn’t independently cause suicidal thoughts, but I do think that it is a huge contributing factor that can make any risk of
that a lot more present in somebody that could be
susceptible to those thoughts. So I think that student
debt is absolutely a crisis. We’re at this point where we
have 1.6 trillion in loans and I think that there clearly
needs to be something done about this because this is weighing on this younger generation of borrowers that’s having to take out
debt at super-inflated prices for tuition because there’s
just no oversight at all over what higher educational programs can charge for tuition. So I think that’s a big problem. We’re clearly seeing this
show up in the numbers. If you have ever had suicidal thoughts or are having them now because
of your student loan debt, please reach out to the
National Suicide Hotline, that number is 1-800-273-TALK. If you have any thoughts
about this finding that one in 15 high-debt
borrowers have considered suicide, please share your thoughts in
the YouTube comments below.

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