The Student Loan Debt Anchor Holding Back Retirement Savings The notion that a college education is an investment in one's future has been turned on its head by the crippling weight of student loan debt.
A recent report from the Employee Benefit Research Institute highlights the devastating impact this burden has on retirement savings, particularly among those in their 40s with significant outstanding balances.
According to the EBRI study, participants with student loan debt in this age group had median retirement account balances roughly 45% lower than their debt free peers.