Millennial student debt hurting the housing market, study shows

Survey finds nearly two-thirds of millennials have or will graduate with student debt
  • Of the 1,338 millennials surveyed by LendingTree, the average student debt was $27,162 across the country.
  • Student loans cost millennials about $317 a month throughout the U.S.
  • When asked what purchasing or financial decision was put on hold due to payments, 45.31 percent of millennials mentioned buying a home.

Student debt is no joke to the economy. A new report shows 46.5 percent of millennials currently own money on student loans, and more than 60 percent of millennial respondents say their monthly student loan bills impact their spending habits “very much” or “somewhat.”