Debt gives young adults boost in self-esteem.

• Position: YOUR LIFE

Instead of feeling stressed by the money they owe, many young adults actually feel empowered by their credit card and education debts, maintains a study by Ohio State University, Columbus. The more credit card and college loan debt held by those ages 18 to 27, the higher their self-esteem and the more they feel like they are in control of their lives. The effect is strongest among those in the lowest economic class. Only the oldest of those studied-ages 28 to 34--begin showing signs of stress concerning the money they owe.

"Debt can be a good thing for young people--it can help them achieve goals that they couldn't otherwise, like a college education," says Rachel Dwyer, professor of sociology. However, the results offer some worrying signs about how a number of young people view debt. "They seem to view debt mostly in just positive terms rather than as a potential burden that comes with some significant dangers.

"Going in, we thought 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 Surprisingly, though, we found that both kinds of debt had positive...