The increasing costs of higher education have caused a lot of concern about student debt. How easy is it to afford a home when your degrees cost considerably more than they used to, and the framed piece of paper reciting your accomplishments is no guarantee of a job? However, there's been little agreement about whether student debt actually does delay homeownership -- and to what extent. New research indicates that a majority of non-homeowners believe that their student debt is a financial obstacle in the road toward buying a home. A survey conducted in April 2016 by the National Association of Realtors and SALT, a consumer literacy program provided by nonprofit American Student Assistance, revealed that 71 percent of non-homeowners believe their student debt is hindering their ability to purchase a home. A little over half of all borrowers anticipate a lag in buying that lasts more than five years. Moreover, 42 percent of grads reported postponing moving out of a fam...
- New research indicates that a majority of non-homeowners believe that their student debt is a financial obstacle in the road toward buying a home.
- Moreover, 42 percent of grads reported postponing moving out of a family member's residence due to student debt after college.
- The slice of non-homeowners who are deterred by student debt is largest among older millennials (79 percent).
- In addition, 31 percent of homeowners would like to sell but don't because of student debt.
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