Can I Buy A House With $138,000 Of Student Loan Debt?


Can I Buy A House With $138,000 Of Student Loan Debt?
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20 Responses to Can I Buy A House With $138,000 Of Student Loan Debt?

  1. SupremeVision

    Cool aid and ramen noodles

  2. Donald Snow

    Save the $50,000 for four years and buy rental property cash and have the tenets help pay the student loans in 8 years you should have a payed for house and out of debt.

  3. Donald Snow

    Everyone thinks when there rent goes up it’s better to buy a house. Nope because you just don’t have the mortgage you have taxes and repairs also if you start to miss payments you will lose the home.

  4. Alice Laybourne

    I am so torn when he talks about the student loan forgiveness programs. When debt is that high, I find it difficult to believe that it doesn't make more financial sense to stop all investing and give over 50% of your income to Sallie Mae/student loans for 4 or 5 years. Wouldn't it do better to invest that money for the the ten years and then let it continue to grow after the loans are forgiven. I am torn, because I do believe people should pay off the principle of the loan at the very least. It feels ethically wrong to borrow that much money and then let the government/taxpayer take care of it.

  5. mikekeenanphd

    I don't think Dave has this correct. He is too debt-phobic. I would first pay off all high interest credit cards. Those things are very bad and increase greatly the cost of everything if you don't pay them off every month.

    If some large portion of the loan will be forgiven in 10 years, I would pay an amount equal to the full loan amount into a savings account over the course of 5 years — or into a house. I would pay minimum payments on the student loan. If we use the average market return of 6% after inflation this will surely result in a greater net worth after 10 years. At greater risk, but is Dave really against any risk at all?

  6. Craig Seybert

    "I went to school on federal student loans, and I'll just wait the 10 years for them to be forgiven" People like this make me sick

  7. Maria Esparza

    It's sounds to me they're going to wait the ten years to have SL forgiven, buy the house and go to FPU again because the rest of the sheep will lead them to follow that path. I hope I'm wrong.

  8. kari KF

    Dave's ideas about nurses is way off. In the Phoenix Arizona area where I'm at most of the nurses that I know make less than $60,000 a year. That includes the ER.

  9. Paris Woods

    I want to know if I already have a retirement fund saved up should I take it out to pay off my debt and then start the retirement fund over again?

  10. magic mooney

    They would have done better with a loan for 180k to make a business or do real estate. College loan is a scam come out making 15 or 20 dollars hr. What a scam of a world we live in.

  11. Sarah R

    They might qualify for a home. There is a new rule that they will not use the income repayment plan payment in your debt to income ratio. They will use the actual 10 year payment amount of approximately $1600 a month. It's a quarter of their monthly income so if they don't have any other debt then they should qualify.

  12. jvolstad

    Buying a house in Detroit?

  13. Richard Forester

    LOL… I thought this video was going to be about a student trying to buy a house with their student loans.  Interesting how titles can be misinterpreted.

  14. Jawlan M

    Typo in the title.

  15. Marbles P

    He’s not going to listen to Dave.

  16. Chris Vandernaald

    Student loan forgiven? YOU borrowed it.. be a man and pay it back.
    What is wrong with people these days. SMH

  17. Brianna CC

    Good point Dave how you explained the increase in income to attack their student loans.

  18. Chester Ming

    You nailed it Dave!

  19. Bob Sled

    House prices are due a correction. They may fall quite a bit in the next year or maybe 2 or 3. Maybe?

  20. Helius Infinitus

    LOL I misread the title. I thought this was going to be someone just starting college asking if they should take out 138,000 to buy a house ON student loans.

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