We can all face issues with mental health, and college students are no exception. The pressures of balancing courses, social life, work and taking on student loan debt can all weigh heavily on your sense of well-being.
Let’s look at college and mental health, including common challenges and how to deal with them. Specifically:
- Substance use disorders
- Eating disorders
- Plus: If student loan debt is harming your mental health
Mental health challenges in college
Mental health challenges — whether from coursework or student loan debt — are common among college students, sometimes impacting their ability to study, work, concentrate, sleep or eat.
According to a nationwide survey administered in the fall of 2020, college students are more likely to face mental health challenges than in past years. Key findings included:
- Nearly 4 in 10 college students indicated symptoms of depression, with 2 in 10 screening positive for major depression.
- College students are anxious: Thirty-four percent of students had a positive screening for anxiety, with 16% screening positive for severe anxiety.
- More than 10% of college students had suicidal thoughts, with 6% admitting to having made a suicide plan in the last year.
- Over 10% of students screened positive for an eating disorder, such as anorexia or bulimia.
- More than 80% of students reported having one or more days a month in which mental or emotional health challenges hurt their academic performance.
- In addition, 6 in 10 students experienced feelings of loneliness, with 66% of students feeling isolated and 62% reporting that they lacked companionship at least some of the time.
We all get sad at times, but depression is a consistent mood of sadness. It is a mood disorder characterized by feelings of hopelessness and sorrow. Among college students, LGBTQ students and students of color are at significant risk of developing depression.
While there are several types of depression, the National Institutes of Health (NIH) list the following common symptoms:
- Extreme sadness for extended periods of time
- Feelings of hopelessness or despondency
- Loss of interest in activities you previously enjoyed
- Feelings of worthlessness and helplessness
- Change of appetite or weight
- Difficulty sleeping or oversleeping
How to get help: Depression is sometimes a cause of students dropping out of college. And in some cases, depression can lead to suicide, the NIH reported. Even severe depression can be treated, so it’s important to get the help you need. Treatment might include psychotherapy, medication or a combination of the two. You can also take steps to help yourself by exercising, spending time with friends and family and confiding in a trusted person.
It is normal to feel a little nervous before a big exam, a job interview or a similarly stressful situation, but anxiety lasts longer and may get worse over time. Anxiety disorders can hurt your ability to go to class, socialize, study or even sleep.
There are several types of anxiety:
|Generalized anxiety disorder||● Having consistent feelings of worry or fear about health, work, social life and everyday interactions
● Sleep problems, such as difficulty falling or staying asleep and feelings of restlessness
|Social anxiety disorder||● Fear of social interactions
● Worrying about being judged by others
● Avoidance of social settings
|Panic disorder||● Unexpected and recurring panic attacks
● Accelerated heartbeat
● Feelings of terror or being out of control
In addition, anxiety also includes specific phobias, such as agoraphobia, which can involve fear of crowds.
How to get help: If you experience anxiety, there are several ways you can get help, but consult with a doctor to determine the best option for you. You might want to consider psychotherapy or, if appropriate, anti-anxiety or antidepressant medicines prescribed by a medical professional. Likewise, engaging in exercise and other physical activity may help you manage your anxiety.
Substance abuse is no stranger to college campuses, whether at parties or even at late-night study sessions. According to research, nearly half of college students binge drink alcohol, and nearly 1 in 5 college students do so regularly. Up to a third of college students have misused stimulants, such as Adderall.
A substance use disorder is a mental disorder that can lead to a person’s inability to control their consumption of alcohol or drugs, whether legal or illegal. It may be associated with other mental illnesses, such as depression or anxiety.
How to get help: Substance abuse and substance use disorders can sometimes contribute to the development of other mental health issues. Substance use can also lead to academic problems, including poor grades or even dropping out. If you suffer from a substance use disorder, consult a doctor about the best treatment plan. It might include individual or group therapy, medication or some combination of these.
Eating disorders are not dieting, nor are they a lifestyle choice. Rather, an eating disorder is a serious mental illness that affects a person’s eating behaviors and thoughts about food.
These disorders are most common among young adult women, and college is a common setting for them to occur.
While there are many variations of this illness, two types of eating disorders are:
|Anorexia nervosa||● Fear of gaining weight and relentless pursuit of being skinny
● Holding a distorted image of one’s body
|Bulimia nervosa||● Eating large amounts of food, followed by purging through self-induced vomiting or laxatives|
How to get help: Treatment is important because eating disorders may put a person at a higher risk for other medical problems and even for suicide. Consult with a doctor about the right treatment plan for your situation. Some methods might include individual or group therapy, nutritional counseling and even medical care and observation.
Suicide can be related to any of the mental illnesses discussed above. As the second-leading cause of death among people age 10-34 in the U.S. in 2019, suicide is a serious mental health concern for college students.
How to get help: If you are in crisis or have any thoughts of suicide whatsoever, it’s definitely worth your time to call the toll-free National Suicide Prevention Lifeline at 1-800-273-TALK (8255). This free and confidential service is available to anyone, 24 hours a day, 7 days a week.
Whether or not you’re still in college, any student loan you have might be a significant cause of stress. According to a 2020 Student Loan Hero study, student loan borrowers are more than twice as likely to feel depressed about their finances as those without student loans.
If this situation sounds familiar, and you are facing anxiety or depression because of your student loans, there are steps you can take to get help.
First of all, you can learn strategies to cope, such as seeking treatment from a medical professional and reaching out to supportive friends and family for support. You can look into adjusting your student loan payment plan if you have federal loans — or consider refinancing if you have private loans.
You could also speak with your employer’s human resources department for guidance or to see if your employer has any programs to help with repayment. There are also some public options to help repay your educational debt.
No matter what your situation, there are resources to find help.
Paul Sisolak contributed to this report.
Interested in refinancing student loans?Here are the top 9 lenders of 2022!
|Lender||Variable APR||Eligible Degrees|
|1.74% – 8.70%1||Undergrad & Graduate|
|1.74% – 7.99%2||Undergrad & Graduate|
|1.74% – 7.99%3||Undergrad & Graduate|
|1.89% – 5.90%4||Undergrad & Graduate|
|1.74% – 7.99%5||Undergrad & Graduate|
|2.05% – 5.25%6||Undergrad & Graduate|
|1.86% – 6.01%||Undergrad |
|N/A7||Undergrad & Graduate|
|1.99% – 8.38%8||Undergrad & Graduate|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Splash Financial.
Splash Financial Disclosures
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. The rates displayed may include a 0.25% autopay discount
The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.
To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet our lending partner’s underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. This information is current as of May 4, 2022.
2 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.
Student Loan Refinance Interest Rate Disclosure Actual rate and available repayment terms will vary based on your income. Fixed rates range from 2.99% APR to 8.24% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.99% APR to 8.24% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Let us know if you have any questions and feel free to reach out directly to our team.
3 Important Disclosures for SoFi.
Fixed rates range from 3.49% APR to 7.99% APR with a 0.25% autopay discount. Variable rates from 1.74% APR to 7.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates on 5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year terms are capped at 9.95% APR. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.
4 Important Disclosures for Laurel Road.
Laurel Road Disclosures
All credit products are subject to credit approval.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.
As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.
Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.
Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.
Interest Rate: A simple annual rate that is applied to an unpaid balance.
Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of April 29, 2021. Information and rates are subject to change without notice.
5 Important Disclosures for Navient.
6 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of 5 years and is reserved for applicants with FICO scores of at least 810.
As of 5/17/2022 student loan refinancing rates range from 2.05% APR – 5.25% Variable APR with AutoPay and 2.49% APR – 7.93% Fixed APR with AutoPay.
7 Important Disclosures for PenFed.
Fixed Rate Loan Terms: 5 years/60 monthly payments, 8 years/96 monthly payments, 12 years/144 monthly payments or 15 years/180 monthly payments. Annual Percentage Rate is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed rates range from 3.29% to 5.43% APR. Rates are subject to change without notice. Fixed APR: Fixed rates will not change during the term. This rate is expressed as an APR. Since there are no fees associated with this loan offer, the APR is the same percentage as the actual interest rate of the loan. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
8 Important Disclosures for Citizens.
Education Refinance Loan Rate Disclosure: Variable interest rates range from 1.99%-8.38% (1.99%-8.38% APR). Fixed interest rates range from 2.99%-8.63% (2.99%-8.63% APR).
IS Variable Rate Disclosure: Variable Rates advertised are based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of December 1, 2021, the one-month LIBOR rate is 0.09%. Variable interest rates will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree and presence of a co-signer. Your final variable rate may be based upon the 30-day average SOFR index, as published by the Federal Reserve Bank of New York. The maximum variable rate is the greater of 21.00% or Prime Rate plus 9.00%.
ERL Variable Rate Disclosure: Variable interest rates are based on the 30-day average Secured Overnight Financing Rate (“SOFR”) index, as published by the Federal Reserve Bank of New York. As of May 1, 2022, the 30-day average SOFR index is 0.29%. Variable interest rates will fluctuate over the term of the loan with changes in the SOFR index, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable interest rate is the greater of 21.00% or the prime rate plus 9.00%.
Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.
Lowest Rate Disclosure: Lowest rates are only available for the most creditworthy applicants, require a 5-year repayment term, immediate repayment, a graduate or medical degree (where applicable), and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Rates are subject to additional terms and conditions, and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer. Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.