"There is scarcely anything that drags a person down like debt."
These are the ways student loans stop people from buying a house
Source Date:
Saturday, March 31, 2018
Categories:
Eighty-three percent of people ages 22 to 35 with student debt who haven't bought a house yet blame their educational loans.
Owning a home, the most common way Americans build wealth, can become a distant dream for many crushed by student debt.
In the late 1990s, Ed McKinley fell in love with a $65,000 house by a lake in New Hampshire.
The owners let him move in early and pay rent until the buying process was completed.
Inside his new home, McKinley installed a modern stove, painted the walls and began to redo the floors.
Then came the bad news.