Observations on life

Student loans … really πŸ‘¨πŸ»β€πŸŽ“πŸ‘¨πŸ»β€πŸŽ“

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

Is there a purpose in misleading news?


8 replies »

  1. I would like to see a valid survey of employers to have them honestly answer this question : How many of the jobs in your company REALLY need a college education?


  2. In the State of Washington where I live, there is a state college by the name of The Evergreen State College. It admits 98% of those who apply. It has no grading system other than pass/fail. There are no traditional majors. The catalogue is filled with course descriptions, which even by the loopy left standards of academia, are bizarre.

    Most of the students graduate with debt and an academic background unsuitable for “livable wage” employment.


    • I been following Evergreen College on YouTube and how the SJW are allowed to run amok. The inmates took over the asylum there. I believe last year their enrollment dropped by 25% and I can’t wait for this year’s figures.


  3. What’s funny is without reading the blog past the first sentence, I took it as 84% Americans overpaid for worthless college degrees because they couldn’t earn enough to pay back their loans. I know that this is not what this posting is about, but think about it. There is some truth to it.


  4. I’m a retired journalist. I can vouch that reporting on surveys can be rife with problems. How many people were surveyed and how many responded? How was the survey conducted and by whom? How were the questions worded? Were the results statistically significant? What is the margin of error? There are many opportunities to mislead inadvertently at each step in the survey processβ€”conception, question development, respondents, method (phone or email), preliminary results, the report of preliminary or final results, the press release, and those reporting on the survey.


  5. If you read the full report it says that 84% of the borrowers they surveyed have trouble saving for retirement; not 84% of all Americans. The summary report writer was the one making the error.


    • That was a press release and exactly my point about misleading. Not many people will get beyond the news story and yet there it is out there. On its face it makes no sense, but how many people accept it?


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