Business Insider, January 7, 2024, Student-Loan Borrowers Are Taking On More Debt, And It’s Not All Tuition — Blame Skyrocketing Housing Costs
But skyrocketing home costs are increasingly putting pressure on student budgets across the country. The housing crisis has become a “five-alarm fire” for students struggling to make ends meet in hot real estate markets, said Robert Kelchen, head of the Department of Educational Leadership at the University of Tennessee, Knoxville.
College towns from coastal California to rural Montana are feeling the squeeze, and as a result, some students are turning to federal student loans to finance the high costs of living in their school’s area. Experts said the housing crisis is making the already high student-debt load in the country worse.
