Key Points
- A new survey from the Association of International Certified Professional Accountants shows 74% of borrowers are worried about repayment.
- Over half of student loan borrowers surveyed say loans limit their ability to save for retirement and other goals.
- Concerns extend beyond recent graduates, with older borrowers also struggling with student loan debt.
A new survey conducted on behalf of the Association of International Certified Professional Accountants (AICPA) paints a stark picture of how student debt is weighing on American households. According to the survey, nearly three-quarters of borrowers (74%) say they are somewhat or very worried about being able to repay their student loans.
This concern is not confined to younger borrowers. The survey found that while 37% of those with student loans are between the ages of 18 and 34, another 27% are 35 to 44, and 25% are 45 to 54. This aligns with our student loan data about student loans by age group:
The findings highlight how debt burdens are extending further into midlife, overlapping with other financial responsibilities such as raising children or saving for retirement.
“Student loans are more than a monthly payment – they’re a long-term financial commitment,” said Pamela Ladd, CPA/PFS, senior manager of Personal Financial Planning for the AICPA. She added that the high levels of anxiety demonstrate how repayment concerns can derail financial stability if left unaddressed.
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How Student Loans Affect Financial Priorities
The AICPA survey found that more than half of those with personal or parent student loans (53%) say their debt affects their ability to save. Retirement savings, emergency funds, and other financial goals are being delayed or reduced as borrowers allocate income toward student debt.
Parents are particularly concerned about the future of their children. Among those with children who have student loans, 70% said they were somewhat or very worried about whether their children would be able to repay them. Nearly half reported that their children’s loans had previously been in deferment and are now due, underscoring how repayment timelines have caught many families off guard.
Borrowers themselves face similar challenges. 55% of adults with personal student loans or parent loans said their debt had been deferred in the past and is now expected to be paid back. For many, the end of deferment has brought repayment back to the forefront at a time when costs of living remain high.
Long Term Implications
The impact of student loans likely has broader economic implications as well. Deferred home purchases, delayed retirement contributions, and reduced consumer spending are all linked to high levels of student debt.
While changes are coming for future borrowers as the result of the One Big Beautiful Bill Act, surveys such as this one demonstrate that families are still grappling with the immediate consequences of repayment.
The AICPA’s findings also illustrate that student loan anxiety does not only affect recent graduates. A significant portion of middle-aged Americans are managing their own loans while helping their children navigate theirs. This dual burden could limit generational wealth-building opportunities, reinforcing cycles of debt.
You can see this chart showing the average student debt balance by age group - with middle age and older families dealing with the highest burdens.
For now, the survey suggests that Americans remain deeply uneasy about student loan repayment, and financial professionals are urging households to develop clear repayment strategies and prioritize planning.
While loan forgiveness and policy debates continue in Washington, the day-to-day reality for millions is managing repayment while trying to balance other financial obligations.
Looking Forward
Student loan debt remains a defining financial challenge in the United States.
The AICPA survey confirms what many families already feel: anxiety over repayment is widespread, affecting not only students but also parents and mid-career professionals. With more than half of borrowers reporting that loans reduce their ability to save, the ripple effects will be felt for years to come.
While long-term solutions to the overall student loan debt crisis will involve politics and legislation, the survey highlights the importance of financial planning at the individual level. For now, Americans carrying student loans face the difficult task of repaying debt while preparing for their financial futures: a balancing act that is proving difficult for many.
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Editor: Colin Graves
Robert Farrington is the founder of The College Investor and is widely recognized as one of the nation’s leading voices on student loan debt and saving for college. He holds an MBA from UC San Diego Rady School of Management and has spent over 15 years researching, writing, and advising on student loans, 529 plans, financial aid programs, and saving and investing for young professionals.
Robert has been featured in the The New York Times, The Wall Street Journal, The Washington Post, NBC News, and Forbes, where he has been a regular personal finance contributor for over a decade. His work combines both professional expertise and personal experience – he successfully navigated his own student loan repayment journey and has helped thousands of readers do the same.
He is committed to making the intersection of personal finance and education transparent and accessible. You can learn more about Robert on the About Page or on his personal site RobertFarrington.com.