economy
February 4, 2026
Older workers with student loan debt have less saved for retirement, Fidelity finds
Older workers with student debt have much smaller retirement account balances than their peers without the loans, a Fidelity report shows.
TL;DR
- Employees over 50 with student debt have retirement balances about 30% lower ($153,000) compared to those without debt ($221,000).
- Workers aged 18-49 with student loans have nest eggs about 20% smaller ($58,000) than debt-free individuals ($72,000).
- Student debt leads borrowers to delay retirement investing or contribute less, resulting in reduced savings.
- Around 9.5 million Americans over 50 carry education debt, averaging about $47,000.
- Student loan repayment can delay other life milestones such as travel, home purchases, or starting a business.
- Upcoming legislative changes could extend student loan repayment terms to 30 years, potentially perpetuating indebtedness.
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