Student loans delaying Millennial homeownership by seven years

Research continues to show that student debt is delaying the American Dream. For employers, the opportunity to engage Millennial talent with a meaningful benefit that addresses their interests has never been so real.

The National Association of Realtors and nonprofit American Student Assistance, recently reported the findings of a new study that found:

  • 83 percent of Millennials who don’t own a home reported that student debt has affected their ability to buy,
  • The median amount of time respondents expect to be delayed from buying a home is seven years,
  • 86 percent of Millennial student debtors have made sacrifices in their professional career, and
  • 41 percent would be more likely to marry but are stalling because of their debt.

Research from NAR and ASA demonstrates the significant burden that student loans are placing on American workers.

As INC columnist, Melanie Curtin, reported, “offering student debt repayment assistance would say a lot about a company’s values. It would send the message that the company understands the actual burden of this on their younger employees.”

Peanut Butter is here to make it easy for employers to help their teams get out from under student debt. By supporting employees’ aims to become debt free, companies can create loyalty and promote a culture of shared achievement.

Our client solutions team can help your company design the right Student Loan Loan Assistance program to efficiently accomplish your talent goals, and we can have your program up-and-running fast.