Student Loans Found to Build Self-Esteem

June 8, 2011

New research out of Ohio State University suggests a silver lining to the cloud of loan debt faced by many students. For young adults aged 18 to 27, the more credit card and student loan debt they hold, the higher their self-esteem. Only once the young adults hit 28 do they start to realize that debt may have a downside. "Debt can be a positive resource for young adults, but it comes with some significant dangers." said Rachel Dwyer, an assistant professor of sociology at Ohio State and lead author of the study. "Young people seem to view debt mostly in just positive terms rather than as a potential burden." The study is being published in the journal Social Science Research.

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