According to the National Survey of Student Engagement, one-third of students are negatively affected by the stress of college loans, the New York Times reported. Additionally, one-third of students do not have all the required course materials due to cost. 60 percent of students surveyed said they worry about their current finances, not to mention life after graduation. Many students reported working more than 20 hours a week, and three-fifths of this category said jobs interfere with school.
Financial risk is second only to academic stress in the contributors to deteriorating mental health among college students, according to the American College Health Association. This negative impact on students often leads to lower grades and graduation rates, making debt repayment more unlikely.