At a Glance | August 13, 2018 The far-reaching implications of student loan debt RISING STUDENT DEBT Families with student By age of the head of family $ loan debt Families with student Emerging Established Nearing retirement loan debt have more <35 years old 45–54 years old 55–64 years old All families than doubled over 25 In 2016: 22% 45% 24% 13% years. In 1992: 11% 24% 6% 3% F11+ 25+F 6+F 3+F +22M 45+M 24+M 13+M IMPACTED ASSETS Home ownership By generation and education level Families with student 85% loans are less likely 76% College degree 71 % to own a home and have less saved for Some college retirement. 48% 45% 42% No student loan 27% Those with student 26% loans who did not finish college end up with the costs but not the benefits of a degree. Emerging families Established families <35 years old 45–54 years old $33k $54k $151k $303k Average defined $ contribution balance $17k $21k $106k $126k RETIREMENT RISK Median defined By student loan recipient $ contribution balance Older families taking on student debt for Nearing retirement their children, may be 55–64 years old $48k less able to save as Student loan for adult they near retirement. $40k Student loan for child $90k No student loan Craig Copeland. “Student Loan Debt: Trends and Implications.” EBRI Issue Brief, no. 453 (Employee Benefit Research Institute, July 9, 2018).