I have $600,000 in student debt after getting four degrees. Can I still buy a home?

I am not here to pile-on this poor guy. But somewhere along the line doesn’t someone in the student loan biz ask, how much student debt you currently have? Blame all around for these kinds of scenarios, and I put the colleges at the top of the list.
Crack open those billion dollar endowments and give your peeps some relief.
You got millionaire professors for Pete’s sake, pulling in 6fig generous salaries for 30+ years.

Dear MarketWatch,

I am a 58-year-old Black male with a student loan debt of $593,000. Seriously. I have 4 degrees — B.A., J.D., M.Ed., M.A. — and I’m working on my last Ed.D. I am currently employed as an educator.

I would like to buy a house but to qualify is like a pie in the sky. I am working on a down payment of $12,000. But any mortgage company will tell me that they have to count 1% or .5% of my loan balance towards my debt. I would like to buy a house in July 2021. I’m currently renting for $1,390 per month. Any suggestions?

Sincerely,

A well-educated prospective home buyer

www.marketwatch.com/story/i-have-nearly-600-000-in-student-debt-after-getting-four-college-degrees-can-i-still-buy-a-home-11604085042?mod=home-page

 

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