Exchange is reporting that a new study shows that those that graduate with student debt are significantly less likely to have savings or investments, less likely to own a home, and more likely to have a mortgage if they do:

Analysis showed that among postsecondary graduates aged 20 to 45 in 2007, 42% of those who had borrowed money to finance their schooling had savings and investments, compared with 52% of other postsecondary graduates, all other factors being equal.

The results suggest that, while student debt continues to affect individuals’ finances after graduation, borrowers who complete their postsecondary education received labour market returns to their education similar to those of non-borrowers.

This study adds to previous research research showing student debt having a big impact on important life decisions, like getting married, choosing a career, and having kids.