New National Institute on Retirement Security Analysis Finds Average Amount of Student Loan Debt held by Gen Xers Is $40,000
WASHINGTON, Sept. 28, 2023 /PRNewswire/ -- A new analysis from the National Institute on Retirement Security (NIRS) finds 13 percent of working Gen Xers still have student loan debt. The average amount of student loan debt held by Gen Xers is slightly more than $40,000, and the median amount is $25,000. The research also finds that Gen Xers with student loan debt have lower net worths and are more likely to fall short of their retirement savings targets, at least in part due to student loan debt. As a result, student loan debt has negative retirement implications for these workers.
- WASHINGTON, Sept. 28, 2023 /PRNewswire/ -- A new analysis from the National Institute on Retirement Security ( NIRS ) finds 13 percent of working Gen Xers still have student loan debt.
- The average amount of student loan debt held by Gen Xers is slightly more than $40,000, and the median amount is $25,000.
- The research also finds that Gen Xers with student loan debt have lower net worths and are more likely to fall short of their retirement savings targets, at least in part due to student loan debt.
- Gen Xers are fast approaching retirement age, so it's troubling that some are still carrying student loan debt.