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  "documentTitle": "Morgan Stanley Investor Presentation",
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  "authorName": "Sallie Mae",
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  "notes": "Includes a donut chart of total higher education spend and supporting bullet points on market expansion, strategic execution, and value proposition.",
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      "text": "The median income of recent college graduates was $52,000 in 2021, 73% higher than the median income of people with high school diploma only.",
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      "text": "Higher Education is Valuable: Median income of recent grads $52,000 in 2021, 73% higher than high school diploma only.",
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      "text": "Expanding Addressable Market: Private Education Loans represent 2-3% of the overall spend. Total spend grows ~2% annually, Sallie Mae growth 4-10% (2021-2022), market share up 90bps.",
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      "text": "Strong Strategic Execution: 25-29yo population with bachelor's degree increased 0.6% avg/year. 55% of students graduated with loans in AY 2020-2021. Avg debt $29,400.",
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