A college degree may be the key to getting the career that you want, but the student debt that often comes with it could be affecting when you make other long-term decisions such as buying a home, according to a new survey.
A new joint survey from the National Association of REALTORS® (NAR) and SALT®, a consumer literacy program from American Student Assistance, found that 71 percent of non-homeowners with education debt believe that their student loans are causing them to put off buying a home. Read more from NAR about the survey.
“Among non-homeowners who believe student debt is delaying their ability to buy, over three-quarters – including over 80 percent of millennials – said their delay is because they can’t save for a down payment. Additionally, 69 percent don’t feel financially secure enough to buy, and 63 percent can’t qualify for a mortgage because of high debt-to-income ratios,” said NAR Chief Economist Lawrence Yun
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