Low student-faculty ratios are a benefit of small, liberal arts colleges.

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"It's been in the news, and I think about it, but it doesn't personally affect me, " said Corrina Waxman, 21, a film student at Purchase College, a small liberal arts school just north of New York City.

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An argument for athletic spending at Division 3 (and to some extent, Division 2) schools is that it is an important student recruiting device: at some liberal arts schools, 30-40 percent of students are on some intercollegiate team, and the figure is 10 percent or so at some Division 2 schools (as opposed to well under 5 percent at most FBS powerhouses).

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At the time that I had begun taking out privately dispersed student loans I was in my second year of schooling in which I had transferred from a liberal arts college to an accredited state community college to allow me to peruse a career in Engineering as well as participate in collegiate athletics.

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