Higher Ed Workforce “Debt Constrained”

How financially secure are higher education employees? According to a new report, more than half of employees in higher education are “debt constrained,” which can be a key component in overall financial health and the ability to save for retirement. Financial Well-­Being and Retirement Readiness in Higher Ed examines financial well-­being, including retirement readiness, among full-­time college and university employees, which was published by TIAA in October 2024. The report is based on the TIAA Institute/CUPA-­HR 2024 Higher Education Workforce Survey, which surveyed 1,210 full-­time employees of public or private nonprofit colleges or universities online between February 16 and March 7, 2024. The respondents included 603 faculty members, 405 staff and professional employees, and 202 administrators.