The real scoop about the costs and benefits of student loans

By Jan Miller

For the Deseret News

Published: Tuesday, Feb. 26 2013 10:00 a.m. MST

More taxes owed produce a huge return on any national investment in higher education, according to the National Center for Education Statistics. Furthermore, the work habits of the college educated promote widespread increases in productivity throughout society. Consistent, productive employment also reduces dependence on welfare.

All benefit from the higher tax revenues, the lower demands on social support programs and the increased productivity produced by college-educated adults. But there are also some other tangible benefits beyond a simple return of financial investment.

According to the Bureau of Justice Statistics, the college-educated are four times less likely to be incarcerated than high school graduates.

“Adults with higher levels of education are more likely to engage in organized volunteer work, to vote, and to donate blood. They are also more likely to be in good health and less likely to smoke,” the Bureau of Justice Statistics says.

These are reminders that the investment our government makes in higher education is more than a simple act of charity of providing for those who are less fortunate and seeking further opportunities. It is a necessary measure that supports the prosperity and growth of our country.

Even if you didn’t benefit from federal aid yourself, chances are that many of the people you work with and rely upon wouldn’t be where they are without it.

Federal student loan lending practices may not be perfect, but they’re a positive step in the direction of fostering a better social and national quality of life.

Jan Miller is a student loan consultant and founder of Miller Student Loan Consulting, a company devoted to giving borrowers customized student loan repayment plans that fit their budgets. EMAIL: info@student-loan-consultant

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