HLG048 The impact of student loans when buying a home (543 words)
HLG048.docx
Description
This article presents a case study on how HECS-HELP loans may impact a home loan application, and strategies people can take to minimise its impact/maximise their loan amount.
Introduction
For many Australians, particularly young Australians, the dream of home ownership is often accompanied by the reality of carrying student loans, known as HECS-HELP debt. Understanding the impact of HECS debt on your ability to secure a home loan can help you plan for and navigate the home loan process.
Case Study
Sarah, is a 32-year-old marketing professional from Melbourne. She has a stable job with a steady income and has managed to save a decent deposit for her first home. However, like many Australians, Sarah carries a HECS debt from her university education.
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