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Student Debt Takes a Toll on Some Home Buyers - Article Example

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As the paper "Student Debt Takes a Toll on Some Home Buyers" tells, the increase in the interest rates of college debt due to inflation has clearly not helped the debt problem, if anything it has even increased the burden of the students a notch and the effects are being felt on the economy…
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Student Debt Takes a Toll on Some Home Buyers
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Statistics indicate that homeownership among young people who are through college and who are under 35 years of age has reduced from 43% to 36% since 2004 and this is a massive decrease.

Even though with the reduction in inflation the debts are bound to be reduced, this is just a speculation and is yet to be fulfilled. The government should be encouraging an increase in homeownership amongst the younger generation and they should start with a reduction of the interest rates on college loans. The increase in interest is discouraging those aspiring to join college to pull back as they foresee a future with no other development other than student loan repayment which is bad for the economy in the future.

Even though the college student loan comes as a savior for most families that cannot afford a college education, it is still a burden people are continually afraid of and it drains their morale of development leading to homeownership for example for old people who are not bound to enjoy more.

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