New Data Shows Student Loan Relief and Payment Progressions are Crucial for Mental Health and Financial Stability Amid Economic Uncertainty
NEW YORK, Oct. 20, 2022 /PRNewswire/ -- More than 68% of student debt holders agree that making progress on their student loan debt would improve their mental health, and almost half (46%) say paying off debt is their biggest financial goal for 2023, according to an annual survey commissioned by Laurel Road, a digital banking platform and brand of KeyBank with specialized offerings for healthcare and business professionals.
- The survey, which polled 1,000 U.S. adults, explores the link between mental health and financial management amid economic uncertainty.
- Nearly one in four surveyed Americans hold student loan debt, including 16% with federal student loans potentially eligible for the recent student loan forgiveness.
- "The landscape of debt, and especially student loan debt, has changed dramatically just in the last few months.
- We hear questions everyday from student loan borrowers on how they should now think about their student loans.