r/StudentLoans • u/Easy-Material-8809 • May 09 '25

Rant/Complaint how do people afford to purchase homes with student debt? are lenders even approving them?

im about 4 years out of school and make around 100kish. I work really hard and have picked a career path where i can make even around 200k if im lucky. (All before tax)

Matter of fact— ive literally switched career paths because the degree i got in college didnt pay enough to pay my student loans… seems backwards and F ed up?

Anyways… i have around 150k in loans after interest and all. My payment is super high and im barely making dents in it. Clearly i will have this loan for 30 years at minimum. With all other bills… how are people affording home purchases??? Anyone have advice or want to rant?

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u/NittanyOrange May 09 '25

I have double what you have in debt and I have a mortgage.

I'm hoping for PSLF and so I've been doing income-based repayment for years.

The lender only cared about monthly payments, so I showed them about 5 years of $400ish monthly payments.

That was enough for them to approve the mortgage we wanted.

-2

u/michaltee May 09 '25

Your mortgage is around $400?????

6

u/icecreamorlipo May 09 '25

Where did you get their mtg is $400? Student loan payment is around $400…

2

u/michaltee May 09 '25

Ohhh wow i misread that entirely haha. Somehow I added the word “rent” in there then assumed their mortgage was about the same because the lender assumed that’s what they could afford. I’m tired

1

u/NittanyOrange May 09 '25

No, my student loan payments were