Debt may actually give some young adults a self-esteem boost. Researchers studied 3,079 young American adults and found that among those aged 18 to 27 years, having more credit cards and college loan debt were generally linked with higher levels of self-esteem and a greater feeling of being in control of their lives, BBC radio reported.
The researchers thought that educational debt might be seen as a positive because it is an investment in their future, while credit card debt could be viewed more negatively.