X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

This fall, 2020 college graduates will start paying back student loans, joining some 44 million Americans who owe an estimated $1.7 trillion in student debt, something millennials have been struggling with, as will Gen Zers in the near future.

They aren’t the only ones. A report released Tuesday by Fidelity Investments shows that overall student debt has only increased during the pandemic, regardless of generation or occupation, with baby boomers bearing the biggest burden.

In part because of Parent Plus loans secured for their children, the amount of debt boomers owed increased by 33% over 2019, based on data derived from more than 250,000 loans reported by users of Fidelity’s Student Debt Tool.

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.