1. Short title This Act may be cited as the Transforming Student Debt to Home Equity Act of 2019 . 2. Findings Congress finds the following: (1) In the first quarter of 2019, over 16,800,000 homes remain vacant in the United States. (2) These extended vacancies depress neighborhood property values and create a downward spiral in neighborhood stability in already troubled communities. (3) Meanwhile, due to climbing expenses of higher education, the total Federal student debt owed equals $1,560,000,000,000. (4) More than 44,700,000 Americans have at least one outstanding student loan, up dramatically from 37,000,000 Americans just 7 years ago. (5) Student loan repayments are forcing millions of young families out of purchasing their first home, as they cannot afford to save for a down payment or qualify for a mortgage. (6) Data from the United States Census Bureau shows that non-Hispanic White households have an average net worth of $130,800, while Black households have an average net worth of $9,590 and Hispanic households have $17,530; providing innovative financial products will allow the United States to close the racial wealth gap and to ensure equitable access to housing and economic mobility. (7) According to a report from Pew Research Center, the median income of African-American households decreased by 53 percent between 2008 and 2013. In the same time period, the income gap between White households and African-American households widened; increasing from 13 times greater to 17 times greater. (8) It is imperative to create a demonstration program to design financial pathways to, where possible, to systematically convert some student debt streams into equity streams through negotiation of mortgages