Is rising student debt affecting retirement savings? Evidence from the survey of consumer finances
利用学生贷款个人破产处理的外生变化，发现学生债务对家庭退休储蓄有负面影响，尤其对年长者影响更大，并导致更多退休计划借款。
Abstract Using exogenous changes in the personal bankruptcy treatment of student loans as well as the level of student debt, we find that student debt has a negative effect on household retirement savings. This negative relation is present for younger and older individuals, and is larger for the latter group, indicating lower levels of retirement savings for precisely those who can least afford it. We also find that student debt is related to greater borrowing on retirement plans. Households with more student debt expect to have insufficient retirement income and are less able to plan financially for the long term.