Millennials today owe an average of $38,877 in student loan debt, according to an Experian consumer debt study. According to a new survey conducted by Legal & General, over one third of millennials in the US say they feel locked out of their quest to save for a down payment on a home because of their student loan debts.
The impact of student loan debt means those who don’t have access to financial help from their families are disadvantaged in accumulating wealth through property ownership.
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Check out the complete article by Business Insider here.