An AgeLab study on the impact of student debt on retirement and relationships has been picked up by multiple news sources, including CNBC and Barron's.
Led by AgeLab Research Scientist Julie Miller for her PhD dissertation in Social Work, the study employed a mixed methodology involving an online questionnaire and focus group discussions.
The research demonstrated that a significant number of individuals who carry student debt say that they do not plan to save for retirement until their student loans are paid off. In focus group discussions, participants with student debt explained that it was difficult to imagine both paying off their loans and saving for retirement.
Participants also reported the strain of student debt on their personal relationships, the difficulty of talking about student loans with their partner or family member, and how loans impacted their life planning with their partner.
Read more via CNBC: 84% of borrowers say student loans are tanking their retirement savings
More via Barron's: Student Loans Keeping You From Saving for Retirement? You’re Not Alone.
And via Fortunly: Student Debt Nixes Retirement Savings: Study