"Often the amount of money students can borrow is not enough for their daily needs, and the resulting financial difficulties may lead to depression, anxiety and stress. Although the overall size of students' debt is clearly important after graduation; at university, it is whether or not that debt impacts upon their daily existence that really matters"
By The British Psychological Society, [RxPG] The pressure of money problems is leading to increased rates of depression, anxiety and stress amongst university students. But, it is not the amount they owe that causes students to become depressed, anxious and stressed; it is whether or not they can manage their finances on a daily basis.
Dr Scott questioned 268 students about the size of their student debt, how manageable that debt felt to them, and whether or not they had financial problems in their day-to-day living. He found that although the amount students owed was not related to depression, anxiety or stress, money problems on a day-to-day basis were.
According to Dr Scott: "Often the amount of money students can borrow is not enough for their daily needs, and the resulting financial difficulties may lead to depression, anxiety and stress. Although the overall size of students' debt is clearly important after graduation; at university, it is whether or not that debt impacts upon their daily existence that really matters."
"This research shows," continued Dr Scott, "the importance of providing training in money management for students attending university, and the need for universities to provide early support for students experiencing money problems."
Publication:
Presented at the British Psychological Society's Annual Conference
On the web:www.bps.org.uk
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