How to Buy When You Still Have Student Loan Debt

Millennials looking to purchase their first house are faced with a challenge unique to their generation

Other generations borrowed to go to college, but the rising cost of school has saddled millennials with an unprecedented level of debt. According to the Federal Reserve, student loans totaled $240 billion in 2003; by the end of 2019, that number reached $1.51 trillion. In 2003, student loans were 3.3 percent of total household debt; in 2019, it was 10.7 percent.