Graduates with Student Loans Ineligible To Purchase a Home?

Did you know student loans can make you ineligible to purchase a home?

“College graduates typically earn more than non-college graduates during the course of their lifetimes, yet the average 30-year-old who left school with a bachelor’s degree in 2004 is most likely ineligible today for a home mortgage due to a high debt-to-income ratio.” (Meaning it’s because of their student loans) (Excerpt taken from the Post Gazette Article titled “Student Debt Pushes Homes Out of Reach)

Reading this first paragraph really made me understand the reality of student loans and the toll that it takes on the student. I had never stopped to think about how difficult it would be to qualify for a mortgage, or even pay all of your bills each month once you graduate from college with student loans because I was not a part of “that world.” Right after I graduated college, I immediately started looking for a house to purchase. I got my pre-qualification letter and was able to purchase my home without any issues just 2 months after I graduated probably because I didn’t have student loans. The process was too easy for me. I had graduated debt free (without any student loans) and received refund checks back each semester due to being strategic about the college that I chose AND winning scholarships. I saved a lot of the money from my refund checks to use for the down payment and closing costs for my home. student loans

At 22 years old, I wanted that house with all of my heart. It was my own home. Something that I accomplished and achieved. It symbolized freedom and happiness. Everyday I walked into the house smiling. Years later, I am still smiling and paying the mortgage happily. Nothing feels better to me than coming home to my own peace and quiet without student loans. With all of the joy and pride that the house gives me, I couldn’t imagine being 30 years old— the age when most people are getting married and purchasing their first homes— with excitement brewing in my stomach while going to the bank and applying for my first home mortgage loan to only hear the words “REJECTED” because of student loans— something that I signed up for when I was only 18 years old and not fully understanding what was happening.

The article continues on to state, “Today’s college graduates are worse off financially than previous generations” due to student loans.

To read the full article:

By: Shanice Miller, founder of


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