Question of the Day: Who is more likely to buy a home: a 25-30 year old with no student debt or one with more than $50k in student debt?
Answer: 25-30 Year Old with $50K in student debt
Hat tip to NGPF Fellow Brian Page for sharing this awesome Question of the Day and chart below that he has used successfully in his classroom.
- Overall, what has been the trend with all 25-30 year olds buying homes since 2005? What might explain this? [Hint: What happened in 2008-09?]
- Why do you think that 25-30 year olds who are current with $50K in student debt buy homes at greater rate than those with no student debt?
- Which group in the chart above is LEAST likely to buy a house? Why do you think this is the case?
Behind the numbers (from The Atlantic)
National news organizations don’t often produce reports about students with, say, $2,000 in debt. Media organizations alight to the large numbers. But the heart of the student debt crisis is all about the smaller numbers, $5,000 or zero—the dropouts and the people who didn’t continue to college in the first place.
For more resources to help your students learn more about student debt, be sure to check out the NGPF Unit page on Paying for College.
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