Side gigs or roomies can help shave years off your debt. Lenders like that.
There’s finally proof to what we’ve all long suspected — that student loan debt is delaying first-time home ownership. In fact, a recent study from the NATIONAL ASSOCIATION OF REALTORS® and the nonprofit American Student Assistance, reveals that this debt can delay home ownership for 7 years (or more).
Perhaps even more concerning is that more than 50% of respondents are paying off over $40,000 in balances, with some owing more than they earn in a year.
So, how can first-time homebuyers break into the market against such tough circumstances? There’s really only one answer: prioritizing student loan repayment above everything else. Not only will repaying balances save…