More Baby Boomers Say College Debt Keeps Them From Meeting Financial Goals Than any Other Generation
The cost of college in the U.S. has risen nearly 400 percent since 1990 and 29 percent of the working population are dealing with college debt, finds a report from the Guardian Life Insurance Company of America. Researchers found late Baby Boomers, those 54 to 60 years of age, are more likely to say that college debt is a major barrier to meeting their financial goals than any other generation.
52 percent compared to the next closest generation - early Millennials, those 30 to 37 years of age - at 38 percent.
The report also found less than 10 percent of employers offer college savings or debt-related benefits, but the good news is seven in ten employers say improving their workers’ financial wellness is a top objective.