(Jose Luis Magana/AP)A Maryland initiative to help residents with education loans purchase their first home and wipe out college debt at the same time is taking off. “Nearly 60 percent of all of our college students are graduating with thousands of dollars in student debt. Say a buyer with $35,000 in student loans is interested in a $200,000 house. The purchase also must be financed through the Maryland Mortgage Program, which arranges home loans for first-time buyers in the state. While there are many economic factors impeding homeownership for millennials — including stagnant wages, rising home prices and conservative lending — the burden of student debt is a significant hurdle.

Source: Washington Post July 16, 2019 21:33 UTC