This special topic paper builds on the Long-Term Impact Report: The HUD First-Time Homebuyer Education and Counseling Demonstration report to explore whether homebuyer education and counseling increased nonhousing wealth and savings for low-, moderate-, and middle-income prospective first-time homebuyers. The demonstration’s Long-Term Impact Report found that, overall, study participants who were offered homebuyer education and counseling services built more savings and had lower levels of credit card debt — but also had higher levels of student loan debt — than those who did not receive the offer of services. This special topic report examines whether this pattern reflects strategic debt management, such as shifting away from higher-cost consumer debt toward lower-cost student loan debt to build savings and nonhousing wealth.

Click here for more information on the HUD First-Time Homebuyer Study.