Is this where you will be living after college?
A recent study by the Young Invincibles talks about the Debt-to-Income Ratio and its importance in securing a mortgage for a home. Unfortunately, the spiraling amounts of student debt are making these ratios so high, that many college graduates are going to find it difficult to have a life.
Particularly one that includes a home of their own.
Granted, having a college degree does tend to offer one a better chance at employment than for those who do not go to college, or even start and don’t complete a degree.
The National College Finance Center is working to advocate that students understand their debt obligations before they get out of hand. It’s a helpful site for those willing to learn about paying for college BEFORE they get into too much debt.
We at the CollegeSearchGamePlan also feel that it is extremely important to know what you might owe before a high school student even considers building a list of schools to research and potentially apply to.
That old sofa in the basement looks a lot less attractive after dorm life for the past four years, right? Make sure you are not taking on a mortgage payment for college!
Save it for your first house.