Student loan debt obviously affects college graduates' wallets and finances, but does it have an impact in other aspects of their lives? According to a Gallup analysis, the answer is yes; debt has affected many graduates' well-being (via Huffington Post).
The Gallup-Healthways Well-Being Index has five areas of well-being:
1. Purpose: "liking what you do each day and being motivated to achieve your goals."
2. Social: "having supportive relationships and love in your life."
3. Financial: "managing your economic life to reduce stress and increase security."
4. Community: "liking where you live, feeling safe and having pride in your community."
5. Physical: "having good health and enough energy to get things done daily."
The analysis found that those who graduated with more than $50,000 in debt were more likely to be struggling or suffering (predictably) financially. However, they also suffer in three other areas of well-being as well, including purpose, community and physical.
Since student debt does prevent or prolong graduates from experiencing big life events (buying a car, buying a house, getting married or having children), this could be the reason why their well-being suffers.