The purpose of this study was to analyze how education loans affected U.S. renter and homeowner households with heavy financial obligation ratios in the United States between 2016 and 2019. Multivariate analysis of a combination of 2016 and 2019 Survey of Consumer Finances data sets indicates that for renter households, 2019 is associated with having an odds ratio for having a high financial obligations ratio 1.59 times as high as for 2016. For homeowner households, 2019 is associated with having an odds ratio for having a high financial obligations ratio 1.18 times as high as for 2016. Having an education loan was not strongly related to having a heavy burden for renters but was related to a higher likelihood for homeowners. Renter households with post-BS degree have ratio 1.65 times as high as renters with lower education level. For owners, education loan has an odds ratio for having a high financial obligations ratio 1.55 (p=.00046) in interaction model, and post-BS degree is 1.61times. It is possible that education loan borrowers are more likely to spend less on rent compare to homeowners.

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