Caregiving does more than impact the financial life of the caregiver. It has other far-reaching consequences, which are more psychological. About seven in every ten student caregivers report that caregiving impacted their academic performance to some degree. Six out of every ten said that caregiving affected their financial capacity to pay for education. About one in every three student caregivers have challenges meeting academic work deadlines and attendance requirements. Some 86% of student caregivers work at least a part-time job, which adds to the overall stress.
Research continues to emphasize the painful effect of caregiving responsibilities on the emotional and physical health of the caregiver. In many cases, the caregiver inevitably becomes susceptible to depression and stress. In some rare cases, the psychological impact of the caregiving responsibilities contributes to a lower life expectancy for the caregiver.
According to a caregiving survey carried out by the American Association of Retired Persons in 2020, only four out of ten caregivers would report their health status as excellent or very good. This is a notable drop from the last 48% of caregivers who rated their health as very good in 2015.
Statistics from the medical industry support the statistics shown above on the overall health and well-being of caregivers. About 53% of caregivers were diagnosed with at least two persistent conditions, such as diabetes and heart diseases. The Centers for Disease Control and Prevention notes that that is a whopping fourteen percent higher rate than that of the general American adult population.
These statistics give a grim picture of the true cost of caregiving. The cost includes financial security and even the education, professional development, and well-being of the caregiver.
By Clearday Research Team
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