With student loan debt topping $1.53 trillion by the second quarter of 2018, understanding the impact of that debt on borrowers is of critical importance (Board of Governors of the Federal Reserve System, 2018). Many student loan borrowers report that student loan debt is preventing them from purchasing a home (The National Association of Realtors Research Department and American Student Assistance, 2017). Studies have shown that there is a negative relationship between student loans and homeownership (Mezza, Ringo, Sherlund, & Sommer, 2016). Despite the importance of housing in the U.S. economy and the concerning relationship between student loan debt and homeownership, very little research has been done in this area. This study seeks to expand the research by examining the impact of both federal and private student loans on homeownership. Additionally, mortgage debt burden as it relates to federal and private student loans is investigated.
