Is rising student debt affecting retirement savings? Evidence from the survey of consumer finances
Batkeyev B. Ertugrul M. Krishnan K. Wang P.
August 2024John Wiley and Sons Inc
Financial Review
2024#59Issue 3589 - 623 pp.
Using exogenous changes in the personal bankruptcy treatment of student loans as well as the level of student debt, we find that student debt has a negative effect on household retirement savings. This negative relation is present for younger and older individuals, and is larger for the latter group, indicating lower levels of retirement savings for precisely those who can least afford it. We also find that student debt is related to greater borrowing on retirement plans. Households with more student debt expect to have insufficient retirement income and are less able to plan financially for the long term.
retirement savings , student debt
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International School of Economics, Kazakh-British Technical University, Almaty, Kazakhstan
College of Management, University of Massachusetts Boston, Boston, MA, United States
DAmore-McKim School of Business, Northeastern University, Boston, MA, United States
Muma College of Business, University of South Florida, Tampa, FL, United States
International School of Economics
College of Management
DAmore-McKim School of Business
Muma College of Business
10 лет помогаем публиковать статьи Международный издатель
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