College graduates typically earn more than non-college graduates over their lifetimes, yet the average 30-year-old who earned a bachelor’s degree in 2004 is most likely ineligible today for a home mortgage because of a high debt-to-income ratio… The report shows “how rising student debt may lead to significant economic impacts,” said Rory O’Sullivan, policy director at Young Invincibles. “As education debt grows, it pushes more borrowers out of the housing market, potentially adding another drag to an economy only just emerging from the Great Recession.”

Read full article [here].
by Tim Grant, San Jose Mercury News.

Posted: August 21st, 2012, by: admin. Categories: . Awaiting Comments.