High tuition rates and cost-of-living expenses can make it difficult for students to make ends meet in the present, but that doesn’t mean they’re not worried about future financial burdens. A 2025 Student Voice survey found that one in five respondents say their biggest source of stress when considering their post-college future is “affording life after graduation.”
A 2024 survey by Handshake found that more than 40 percent of students have thought at least “a fair amount” about planning for retirement; 15 percent say it’s a major focus area. However, a majority of young people are not saving for retirement (61 percent), according to a 2024 survey by CNBC and Generation Lab.
By the numbers: Nationally, about three in five adults have a retirement savings plan, with more college graduates (81 percent) likely to have a retirement plan than those with some college (58 percent) or those without a college education (39 percent), according to 2025 Gallup data. Young adults between 18 and 29 were less likely to be planning for retirement in general. However, many Gen Zers have aspirations to retire by age 65, 2024 Morning Consult data showed.
Preparing students for financial stability beyond college also has implications for their families; over half of students told Handshake they plan to provide financial support for older family members during their career.
Previous research shows that some graduates who take on large amounts of debt to attend college may be less likely to reach adequate retirement wealth. One study found that graduates in 60 percent of majors analyzed—including education, political science, journalism, biology and general business—were unable to reach $290,000 in retirement savings by age 65. For students who held $40,000 in debt, “80 percent of all majors will not reach a sufficient level of financial wealth to have a 50/50 chance of not outliving their money at retirement,” according to the report.
Future planning: To help students prepare for the future, some colleges and universities offer financial planning support or supply resources on financial education.
Many institutions partner with iGrad, which provides financial literacy training. iGrad offers courses for students to help them plan for retirement, with content including understanding tax implications, identifying Social Security benefits and navigating common retirement pitfalls. The platform also has a retirement analyzer tool to help students understand the gap between their retirement savings and their goals.
Kansas State University’s Powercat Financial division offers peer counselors and staff who can answer questions about retirement planning and help students navigate various accounts that might be available to them. The university has also created blog posts that detail how to evaluate employee benefits.
Two-thirds of undergraduates surveyed by Handshake said they wouldn’t accept a job that didn’t include retirement benefits, and an additional 32 percent said retirement benefits aren’t essential, but they are important.
Trinity College’s website features a Retirement 101 guide, which helps students understand when they might decide to retire, how to calculate comfortable retirement savings and how investing can factor into retirement income.
Wellesley College encourages students both to save for their own sake and also to consider how they can give back to the college through a charitable remainder trust or by deeding their residence to the college.
How does your college or university encourage students to practice wise money habits? Tell us about it.