Title: How does debt affect people?
Headings: How does debt affect people?
How does debt affect people?
Graduates living with debt
Debt ain’t free

Content: The findings of the study are sobering, on two fronts. First, student debts weigh heavily on students’ later wellbeing. Wellbeing was measured along five dimensions: life purpose, social engagement, community engagement, financial satisfaction and physical health. Graduates without student debt were seven times more likely to report themselves to be “thriving” along all of these dimensions than graduates (or indeed dropouts) with more than $40,000 in debt. This finding tends to confirm the results of a major meta-analysis of evidence from the United States, the United Kingdom and New Zealand. The findings suggest that higher levels of debt while a student are significant predictors of stress and secondary negative health consequences. This study also points to other evidence of serious consequences more generally. Higher levels of debt have serious long-term consequences, including mental, neurotic or psychotic disorders, depression, suicide attempts (or suicide completion), problem drinking and drug dependence. Student debtors delay taking out a mortgage to own their own home.