INDIANAPOLIS—More than one-third of respondents to a new survey said they are paying off student loan debt for themselves or someone else.
Of that group, according to the OneAmerica poll, 85% said it's impacting their ability to save for retirement.
To help address these concerns, OneAmerica recommended educating Americans on various savings plans to better prepare for educational expenses.
When asked what is the most important attribute to achieving financial wellness in the OneAmerica survey, the top three responses were: controlling debt (24%), contributing more to retirement savings (22%) and creating a budget (19%).
NAFCU's March Economic & CU Monitorfound that two-thirds of credit unions surveyed offer programs focused on retirement savings, and a majority are partnering with third-party vendors to help members with budgeting, personal financial management and credit monitoring.