A recent report published by Philadelphia Magazine offered a bit of cautious optimism for Millennials accruing significant student loan debt. Treated as the elephant in the room in regards to home ownership, it’s no surprise that paying back years of pricey tuition has deterred some young people from buying a house. The good news? You’re actually more likely to purchase a home if you’ve graduated from college (student loans, and all!).
Ultimately, student loan debt can (and often does) delay a Millennial from buying a home. However, this report has found that people in their 20s and 30s are far more likely to purchase a home if they have a Bachelor’s degree or higher. In fact, people with a master’s or a doctorate degree are the most likely to become homeowners — even though they carry the heaviest student loan debts.