Student Debt as a Barrier to Millennial’s Access to Homeownership
With a system of affordable housing based primarily on income levels, the qualifications for access to affordable housing exclude groups who cannot access housing due to variables other than income, such as student debt. Policies and programs that promote millennial homeownership aim to address these gaps in current affordable housing regulations. Through an analysis of statistical data and qualitative surveys of millennials leaving college and entering the housing market, my project identifies areas of need and sources through which to provide assistance. In partnership with the Davidson Housing Coalition, my work explores the potential for financial literacy support from local community organizations to serve as a resource for millennials to overcome the existing challenges working against them in today’s economy.