Sheraton Uptown, Albuquerque, NM, USA
Saturday, April 22 • 1:30pm - 3:00pm
B1B-Young Adults' Debts and Psychological Distress

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Targeting adults aged 18 to 28, this study investigates two questions: First, do increases in student loans and credit card debts cause higher psychological distress, respectively—and if so, to what extent? Second, which type of debt, student loan or credit card debt, lead to higher psychological distress? Five biennial waves (from 2005 to 2013) from Panel Study of Income Dynamics—Transition to Adulthood were included. Results from fixed-effects models indicate that accruing an addition of $1,000 in student loan and credit card debt attributes to 3% and 5% higher likelihood of exacerbated psychological distress. Credit card debt is more likely to attribute to severe distress levels than is student loan. Policy implications on reducing debt loadings among young adults are addressed.

Speakers & Presenters

Hyungsoo Kim

Associate Professor, University of Kentucky

Qun Zhang

Doctoral Candidate, University of Kentucky

Saturday April 22, 2017 1:30pm - 3:00pm

Attendees (5)