From CNN Business:

Clinical professors Frank Smith and Ajay K. Aggarwal used U.S. government data and a mathematical model to analyze the impact of student loan debt and college majors on millennial retirement. A study included 45 majors and 60% won’t reach the minimum retirement savings by age 65, per researchers. Starting salary is key for successful retirement. All engineering and technology majors offer a high enough starting salary, according to Smith and Aggarwal. Meanwhile, nursing and pharmacy majors could have debt up to $80,000 and $40,000, respectively, and still have a 50/50 shot of not outliving their retirement savings. Employers now have the option to match borrowers’ student loan payments as contributions to a tax-deferred retirement plan, allowing workers with education debt to save simply by paying their student loan bills on time. With 84% of borrowers saying that student loans impact their ability to save, this benefit in U.S. workplaces could completely change the trajectory of their retirement outcomes.



Read more: How College Major and Student Debt Affect Retirement Savings