Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
August 20, 2014

Student Debt Burden Stifles Home Ownership

Slate: “It seems obvious that owing lots of student debt should make it more difficult to buy a house.”

“Homeownership rates have fallen fast among all young adults since the recession. But, as shown below, they’ve dropped most precipitously among those who borrowed for school.”

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“The bad news is that student loan delinquencies and defaults exploded after the recession, which is a likely reason why the Fed finds that, on average, young adults who borrow for school have lower credit scores than those who don’t. Bad education debt has created a class of adults who will probably have trouble getting credit for quite some time. And until that changes, they’ll be renters.”

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