STUDENT LOANS FUEL WEALTH GAP – part 2

One important factor is home ownership.  Nearly 80% of those over 65 own their homes, as compared to 34% of under 35 year olds.  YOUNG FOLKS HAVE IT BAD.  Student loan debt is one reason.  7l% of graduates are paying back those loans BEFORE buying a house – hopefully in 5 years.  Student loans are charged 7 to 12% interest and rest of borrowing is at a lower interest rate.  There needs to be a way to refinance student loans.  National Association of Realtors is backing this in Congress to close this gap and make buying a home more reachable for younger folks.