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Current grads will retire 12 years late

  • Debt loads will force today's graduates to retire when they're 72 instead of at the average age of 61. 

    Reports suggest that those with $23,000 in debt will end up spending the first 10 years of their career paying 7 percent of their salary. 

    "I'm going to be a nursing major," a college freshman said. He mentioned that he has plenty of loans that he's going to have to pay back. 

    "It's kind of scary because I don't know how long I'll have to be working or if things will be getting more expensive or where I'll even be living. I really need to plan ahead."

    A separate survey also revealed that one-third American workers don't intend on retiring until they're too sick or they die. 

    Tagged as: debt loans students, americans retire, retirement age america, money news, business news