Which of these statements describes the costs and benefits of taking a college loan? Responses College loans help increase future earning power but result in a long-term commitment to monthly payments. College loans help increase future earning power but result in a long-term commitment to monthly payments. College loans reduce tuition payments but increase total educational costs because of interest payments. College loans reduce tuition payments but increase total educational costs because of interest payments. College loans help students with academic and athletic skills overcome financial hardships. College loans help students with academic and athletic skills overcome financial hardships. College loans require students to work while studying but they cost less than conventional loans