Statement $1$: $$If it takes a student longer to graduate, the implicit personal financial return to education will go down relative to other students with the same characteristics.$$

Statement $2$: $$Older students, all else the same, get a lower personal financial return to education than younger students.$$

Group of answer choices

Both statements are true

Both statements are false

Statement $1$ is true, but $2$ is false

Statement $2$ is true, but $1$ is false