High debt can have a psychological impact

CHICOPEE, Mass. (WWLP) – It’s no secret that mounting debt hurts your bank account. It turns out, education debt can have a psychological impact as well.

Medical researchers found that graduates with high debt balances had a greater likelihood of high blood pressure and depression.

Something Western New England University student Mark Martinez found easy to believe, “When you come out and see hundreds of thousands of dollars that you have to pay off, sometimes you might not have a job, maybe not a super high paying job.  So it’s something that looms over your head for the rest of your life.”

The Northwestern University study found that the total amount of debt alone doesn’t necessarily indicate negative health effects. Instead, debt relative to a graduate’s ability to repay it is a better indicator of likelihood of depression or poor health.

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