Effects of Anxiety and Student Loan Debts Among Users of an Online Community

Purpose. Anxiety disorders affect 40 million adults in the US every year. Financial stressors, such as debt, may create additional burden for the people with symptoms of anxiety. In recent years student loan debt has emerged as a critical stressor that may worsen the symptoms of anxiety. Understanding the coexisting effects of anxiety and student loan debts can inform the current and future practice and policy interventions. Thus, the purpose of this qualitative study was to describe the coexisting effects of anxiety and student loan debts among users of an online mental health community. The coexisting effects of anxiety and student loan debt was guided by two aspects of the DSM-5 definition on anxiety: (a) The individual fears that he or she will act in a way (or show anxiety symptoms) that will be embarrassing and humiliating. (b) Exposure to the feared situation (in this case student loan debt) almost invariably provokes anxiety, which may take the form of aggravating the long-term effects of anxiety.

Methods. Data were collected from an online social network, r/Anxiety on Reddit. Fifty posts were randomly selected and qualitatively analyzed to understand the coexisting effects of anxiety and student loan debt. First cycle coding led to over 100 codes through elemental and affective coding methods. Second cycle coding was done using grounded theory methods. Six major themes emerged: debt, failure, fearfulness, unemployment, anxiety, and therapy.

Results. User posts described multiple vulnerabilities, including experiences of severe economic hardship, not being able to find employment, sufficient employment, or sustain employment, suicidal ideation, fear of losing housing, fear of embarrassing their family and themselves, and characteristics relates to other potential mental health and DSM-5 diagnoses. Users also expressed fearfulness, racing heartbeat, shortness of breath, sadness, not wanting to do anything because of anxiety over student loan and the inability to pay. Users’ posts also demonstrated struggles to gain the practical help they felt they needed to address their economic difficulties or therapeutic support that might have helped with their co-existing effects of anxiety and student loan debt. Users’ posts also revealed fear of seeking professional assistance with their anxiety or other mental health challenges that would affect their ability to receive gainful employment.

Conclusion. Findings suggested that student loan debt trigger symptoms of anxiety, suicidal ideation, and other negative feelings, emotions, and symptoms related to other DSM-5 diagnoses. Findings have implications for social work practice and policy interventions. As the findings highlighted, interventions to mitigate the coexisting effects of anxiety and student loan debt should include providing practical advice about career choices (job market, job opportunities, salary vs student loan debt), employment support, practical advice about repaying student loan debt before they become insurmountable. Most importantly, there is a need for encouraging mental health or psychosocial support seeking among individuals who face stigma or have fear of approaching social workers or counsellors for addressing the burdens of anxiety and student loans.