The Lasting Consequences of Student Debt

Re:The Lasting Consequences of Student Debt by contingencies on Tuesday April 04, 2017 @09:59AM (#14032630)

graduating from college makes you almost as likely to own a home, by age 36, as someone from a high-income family.

I assume they mean "own" in the sense "get a mortgage on" not "have fully paid for", no?

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Re:The Lasting Consequences of Student Debt by cbr on Tuesday April 04, 2017 @11:17AM (#14033533)

That's what "own" means with houses. You're a "homeowner" after closing, and you are the legal owner of the property, even though you still owe thousands to your bank.

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Re:The Lasting Consequences of Student Debt by contingencies on Tuesday April 04, 2017 @06:52PM (#14038002)

That's my point. Debt is not an achievement.

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Re:The Lasting Consequences of Student Debt by markwaldron on Tuesday April 04, 2017 @02:23PM (#14035758)

I'd love to know their definition of "high-income family"

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Re:The Lasting Consequences of Student Debt by agalarza on Tuesday April 04, 2017 @10:05AM (#14032680)

I think they mean paying a mortgage too. Paying off a house by 36 seems to require either a ton of money or a very, very cheap home.

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Re:The Lasting Consequences of Student Debt by rosbrith on Tuesday April 04, 2017 @10:31AM (#14032986)

One still owns a home when buying with a mortgage. The lender places a charge on the property while a balance is outstanding, therefore in addition to owning the property you also own the debt secured against it.

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