Apr 20, 2021
Student loan borrowers face enormous mental health challenges. Our mental health survey of student loan borrowers found that 1 out of every 14 borrowers considered suicide because of their student loans. Listen in as Student Loan Advisor and consultant Meagan Landress CSLP® and I tackle the tough topic of mental health burdens that many borrowers experience. We’re discussing the results of our survey, sharing our thoughts on the various factors that may be contributing to these issues, and our advice to borrowers who are suffering anxiety and depression due to student loans.
In today’s episode, you'll find out:
- How to manage negative thoughts around student loan debt
- Why student loan debt doesn’t make you bad or irresponsible
- Coping mechanisms to manage stress and anxiety
- What we mean when we say, “Student loan debt isn’t really ‘debt’; it’s more of an income tax”
- Why PSLF isn’t broken
- Who suffers the most under the weight of student loans
- Our thoughts on the growing problem of the number of borrowers who owe six figures in federal student loan debt
- Why a passive, long-term approach to debt can mathematically make more sense
- About the unique impact of student loan stress on women and people of color
- Common concerns borrowers have about PSLF
- What we think would need to happen to fix the student loan crisis
- Our recommended resources for those experiencing mental health issues with regard to their student loans
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