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1 1 (May 24, 2022)

handle is hein.amenin/aeiaeio0001 and id is 1 raw text is: Key Points e Would-be students are beginning fear student loans and are etting that fear affect their decision to atend coege. Colleges can and should make student loans less stressful and scay by embracing loan repayrment assitance prngrams ' RA~s), which provise a sarety net for students. L' RAPs vil make college rne accessible use of limited financial aid resources. and will help institutions make more efficient Investing in a college education is typicafly the big- gest purchas a young person wviii have made at that din t in their IifS. iTe student loans they br row will probably be the biggest debt they ncur until they buy a home. students are right to be careful and cautious about this purchase decision and. the resulting debt. Although the average loan-payment-to-incoume ratio rias fallen signmican-ly since 1992' news sto- ries paint a drastic picture of tie burden caused by repayment. These stories can give the impression that students rypically borrow nor- than $,- oo to Pnance their degrees iiin rality, di actual average student loan burden at graduation is $2 , 400 Unfortunately, this nis infor ation negatively affects students, wh> fear ?he level of debt they nay take ,n to attend or finish college. This fear can lead many would-be students to question whether to attend college. However, for most stu- dents, college provides a clear financial benefit. A Federal Reserve study shows the coliege-wage preinrum is high at -4 percent, easily exceeding investment benchmarks such as stocks at 7 percent and bonds at 3 lercent Most students who grad- uated in ozi fron a public or nonprofit university are prnjec'ted to pay of their student loans in less than seven years. In addition, college graduates enjoy nonfinancial benefits such as increased civic participation and improved physical and mental well-being' In addition to the fnancial benefits to gradu- ates, society benefrts fron increased college gradu- ation, A i percent increase in the degree-holder pop- ulation is associatcd with a 0o.C percent increase in the gross lomestic produ t Addi inally, more- educated connunities are shown to have less crine. A one-year increase in average education levels is associated with an in percent decrease in statewide arrests) Of course, in every graduating class, there are those who earn significantly less than their peers, which can make it hard for them to repay their loans?' On average, these low--earning graduates earn $,ooo per year at age 22 and only $2,Soo by age 25. Nevertheless, for most students, rnost of the time, earning a college degree produces a positive

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