NEW YORK July 30, 2019 – A large majority of American adults (84%) report that student loans are negatively impacting the amount they are able to save for retirement, according to new research sponsored by TIAA and conducted by the MIT AgeLab. Nearly three out of four (73%) borrowers report they are putting off maximizing their retirement savings, saying they expect to begin or increase their contributions once their student loans are paid off. Among those who are not saving for retirement at all, more than one quarter (26%) point to the need to pay off student loan debt as the reason.
Source: TIAA | For Immediate Release
Really? 84% of adult Americans have a student loan and 3/4 of them have trouble saving for retirement?
There are 253,768,092 adult Americans and 44,000,000 million Americans have student loan obligations. Not 84%, but 17% if you do the math. https://www.cnbc.com/2018/02/15/heres-how-much-the-average-student-loan-borrower-owes-when-they-graduate.htm