Noted: Digging deeper into the debt details, Houle and his study co-author Lawrence Berger, a professor at the University of Wisconsin–Madison’s School of Social Work, found that the type of debt makes a big difference. When parents took on or increased their home or education debt, it seemed to have a positive effect on their children’s well-being. On the other hand, additional unsecured debt – which includes credit card debt, medical debt, payday loans and loans from family and friends – tended to coincide with more behavioral problems.
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