Wednesday, December 1, 2021 12:52 pm

Student debt may delay homeownership more than 5 years

graduates stutentsBy Clare Trapasso | realtor.com

Does student loan debt make it harder for most college grads to become homeowners? Here’s a shocker: Yeah, it sure does. Big time.

Those often-immense monthly bills are causing 71% of borrowers to delay buying a home—and more than half of them to put off that dream of homeownership by more than five years in order to save up for that pesky down payment, according to a recent National Association of Realtors® and SALT joint report. SALT is a consumer literacy program run by the nonprofit group American Student Assistance.

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