Financial stress can have major effects on your health. Stress, in general, can cause heart attacks, strokes, and many other serious health issues regardless of the source.
Student loan debt is another concern that is rapidly increasing. Student loan debt topples credit card debt for Americans and it is now the second largest form of debt in the country. Recent college graduates spend tens of thousands of dollars in the hopes that they will graduate into the work force and begin a lucrative career in their field. Unfortunately, this is not the case for many twenty-somethings. In fact, according to Forbes.com, about one-third of millennials regret going to college because of the debt they’ve found themselves in upon graduating. It’s becoming all too common a story that a student graduates, cannot find a job in their field (let alone one that pays above minimum wage for an entry level position), and is required to make monthly payments on their loans that they cannot afford. The average student has $37k in debt. These graduates had very little time to save in their college years, and are now responsible for their own bills which also need to be paid in order to survive. Talk about stress!