Intersting perspective in this article, its a must read if you are interested in how student loans impact Millennial homeownership. Lots more facts and graphs in the link above - here are a few from the article.
- On average, a person with student debt pays lenders about $350 a month.
- Americans currently hold a combined $1.3 trillion in student loan debt, according to the Federal Reserve. Brookings says the average borrower with an undergraduate degree has $30,000 worth of debt.
- In a report released last summer Goldman Sachs argued student debt only has a significant impact on home ownership when the borrower has more than $50,000 in debt or is making payments that exceed 5% of their income.
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