Students now face higher fees for courses and interest rates for student debt under the reforms which will take effect on 2016.
"The changes mean that students from universities around the country will have more debt on their names after they graduate. As a result, young Aussies would have to spend their salaries on paying off their student loans, rather than allot a portion of it for a large cash deposit and eventually get their very own home," explains
"It would be a real struggle for a generation of Aussies to snag a property for sale in a system like this, especially now that the New Credit Code is already in full swing and those with existing debt will have a harder time getting new home loans," he added.
"Saving up a large deposit fee and applying for new home loans are outdated processes to get your foot in the property ladder, because they were created at a time when banks had a lot of money to lend to everyone. The good times, however, ended during the global financial crisis and those who do not pass the new standards put up by the banks end up being locked out of the market," commented
"That's why I recommend young Aussies to enter the market with the help of seller finance strategies, since it allows anyone to buy houses for sale with just a small upfront fee and flexible payment terms between the seller and buyer," he said.
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For over 23 years property millionaire
He constantly refines his techniques as he buys and sells properties through his We Buy Houses business which operates in
A gifted speaker and educator,
He regularly records and publishes iTunes podcasts via his channel
His innovative low-risk, high-reward approach to Australian real estate investing has been featured in a variety of television programs and magazines, including Today Tonight, Hot Property and Australian Property Investor.
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Read the full story at http://www.prweb.com/releases/student-loan-debt/saving-for-deposit/prweb11876410.htm
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