Don't Let Debt Make You Regret Your College Years

Student loan debt is a reality for many U.S. adults. Estimates suggest that Americans owe approximately 1.75 trillion dollars in student debt. Around 62% of 2019 graduates left school owing an average of $28,950.

For many, the toll that debt takes can be serious.

For many, taking out student loans is often the only way to afford higher education. Going to school was an investment in yourself and your future.

If you find yourself regretting the college debt you have, there are a few things you can do to help ease your mind. Putting things in perspective can help you focus on finding ways to manage your current debt without regretting your college years.

Impact of Student Debt

Debt can have a variety of negative effects on a person's life. These can vary depending on factors ranging from individual financial resources to their coping abilities.

For many, student debt contributes to worse quality of life, emotional exhaustion, burnout, and depression.

Debt can contribute to many people's feelings of regret, stress, anger, and anxiety.

Student debt can also contribute to feelings of shame and isolation.

Factors That Contribute to Regret

There are many reasons why people may find themselves regretting their college years when faced with the burden of student loan debts.

• The amount of debt: How much debt, monthly payments, and how long it will take them to finally pay off the debt is another major cause for regret.

• Owing money on an unfinished degree: People who are left paying off debts on a degree they didn't finish may feel particularly frustrated.

• Owing money on an "unused" degree: Another common frustration is paying off loans for a degree that isn't directly related to a person's current line of work.

How to Deal With Regrets

One thing that you can do to manage feelings of regret is to reframe how you think about your college years and the debts you acquired during that time.

Remember What You’ve Gained

Remember that your college education is an investment in yourself. College provides important critical thinking skills that are important for both work and life. It will pay off in the long run.

Don't Be Too Hard on Yourself

It's important to remember that everyone's situation is different. You were doing your best and making the decisions that worked for you at the time. Show yourself a little kindness rather than beating yourself up for those choices.

Make a Debt Repayment Plan

Be proactive about making payments on your loans. The sooner you get them paid off, the better you'll feel about your college experience overall.

Look for Loan Forgiveness Opportunities

Some programs offer loan forgiveness for some borrowers that meet specific conditions.

Use Effective Coping Strategies

When dealing with financial stress, it isn't uncommon for many Americans to turn to unhelpful tactics.

More effective coping strategies you should try include:

• Talking to a trusted friend or loved one
• Getting adequate sleep
• Exercise
• Practicing stress management strategies

A Word From Verywell

It’s important to remember that regretting the past won’t change the present. Educating yourself about your options is a good place to start. You can’t change the past, but you can take steps to ensure that you feel fewer regrets going forward.