Is Your Student Loan Cheating You of Your Home?
If you were like most Americans, you would think that owning a house is something that would seem just a matter of time. As soon as you graduate from college, you get a good job and then the house follows. Simple. But modern life is not as simple as it seems. A recent study shows that nearly 75% of college graduates with student loans felt the loan payments prevented them from buying a house or car.
Painful when you come to think of it. Imagine not being able to buy the necessities of life because of loan repayments, which could go on for years. But that need not be the case for you. A house would mean a mortgage and repaying two loans at the same time may not be easy. Rising interest rates will also make qualifying for mortgages more difficult for many people, but could really put the squeeze on those with student loans, who may have trouble qualifying even at lower interest rates.
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