Owning a house requires someone to have a very fat wallet and for some, earning a college diploma is the first step to building a hefty bank account. However, this might be the biggest misconception for many according to experts. CNN said that in 30 of the top 100 markets in the United States, saving for a 20% discount is much easier for non-diploma holders.
Real estate agency Trulia has recently found out after a study that in the market, a household with a college degree isn't making that much more than a household without. It all boils down to the burden of the student loan.
A home, for anyone, is the biggest investment that they will make in their lifetime and those who have students loan, more often than not, destroys someone's ability to save the money needed to own a house. The study also showed that a new homebuyer's biggest challenge is the down payment.
But there is always an exception to the rule, in Golden State, those who have a degree is on the right side of the fence not only due to the premium of salary the city is giving to the degree holder but the prices are relatively high and expensive.
In relation to the article, US News said that the average student loan in the United States is estimated at $30,000. On an average, 7 out of 10 graduating or 69% of the 2013 graduating class left the school with a hefty $28,400 debt in student loan.
In any case, the measure of understudy obligation and the probability of graduating with obligation differed enormously between both states and schools. A few states had normal obligation sums as low as $18,656, while others bested $30,000. Between distinctive universities, normal obligation sums ran from $2,500 to $71,000.
