Millennials are delaying just about everything, from buying their first car or home to getting married and having kids. Student debt is frequently cited as a reason for the delays—and new research suggests those loans may also lead young people to delay retirement three or four decades down the road.
Student debt stands at nearly $1.4 trillion. It afflicts all adult generations, including 44% of millennials, 26% of Gen X, and 13% of baby boomers, according to a survey from Aon Hewitt. Those with student loans are less likely to participate in a 401(k) plan and more likely to be saving too little, the survey found.
