A LITTLE over seven months after an EU referendum outcome that seems to be actively tearing a whole continent aside, it's nonetheless somewhat unclear which path the UK will go along with... effectively, absolutely anything. Apart from the knowledge that Brexit will occur, the general public at giant is at nighttime close to precisely what that can entail. The way forward for immigration insuranc...
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CARES Act (COVID-19 Stimulus) and Student Loans
‘I Feel Like I’ve Gotten Trapped in This Loan.’ Here’s Why the COVID-19 Stimulus Package Only Helps Some Borrowers (Time, Apr. 2, 2020)
How the CARES Act Stimulus Affects Your Student Loans (Experian, Apr. 1, 2020)
Got Student Loan Debt? Read This. (Federal Trade Commission, Mar. 30, 2020)
Student Loan Debt’s Impact on Home Ownership
Heavy Student Loan Debt Forces Many Millennials to Delay Buying Homes (NPR, Feb. 1, 2019)
“Homeownership rates for people ages 24 to 32 dropped nearly 9 percentage points between 2005 and 2014 — effectively driving down homeownership rates overall. In January, the Fed estimated 20 percent of that decline is attributable to student loan debt”
Homeownership amongst Young Americans: A Look at Student Loan Debt and Behavioral Factors (The Journal of Consumer Affairs, March 1, 2018) E
From Abstract: “Three key findings arise from the research. First, life cycle and demographic characteristics, such as marital status, education, and income, continue to be strong predictors of homeownership. Married households with a college degree and children are among the most likely to own a home. Second, young adults with student loan debt are no more or less likely to own a home than someone without debt after controlling for a number of factors; however, students who have already paid off their loans are more likely to own a home. Finally, respondents who express a willingness to take risks in finances are more likely to own a home while those who are more conscientious are less likely to own a home.”
State of the Nation’s Housing (Joint Center for Housing Studies of Harvard University, 2019)
Student Debt Delaying Millennial Homeownership by 7 Years (National Association of REALTORS®, Sept. 18, 2017)
Student Debt vs. Homeownership (Around the Fed, July 2017) E
“…rising student debt can account for between 11 percent and 35 percent of the decline in homeownership”
Student Loan Debt and Housing Report (National Association of REALTORS®, 2017)
On the Effect of Student Loans on Access to Homeownership (Board of Governors of the Federal Reserve System, Oct. 2016)
From Abstract: “To identify the causal effect of student loans on homeownership, we instrument for the amount of the individual’s student loan debt using changes to the in-state tuition rate at public 4-year colleges in the student’s home state. We find that a 10 percent increase in student loan debt causes a 1 to 2 percentage point drop in the homeownership rate for student loan borrowers during the first five years after exiting school. Validity tests suggest that the results are not confounded by local economic conditions or non-random selection into the estimation sample.”
eBooks & Other Resources
Generation Debt: How Our Future Was Sold Out for Student Loans, Bad Jobs, NoAdvantages, and Tax Cuts for Rich Geezers—And How to Fight Back (eBook, Kindle)
The Impoverishment of the American College Student (eBook)
Sold My Soul for a Student Loan (eBook)
Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required (eBook)
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