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Columbia University
New York City
October 15, 1925
Tf/ie Association of Unioersity and College
Business Officers of the Eastem States
The Committee on Student Loans
Genteemen :
The result of the study on Student loans made by the Student Loan
Information Bureau is being transmitted to you for appropriate action.
The study began as one of Student loans proper, but as the work pro-
gressed, it was found that the fundamental wrong with Student loans
was not so much the loans themselves as the position which they occupy
in the financial policies of universities and Colleges. It was found neces-
sary, therefore, to expand considerably the scope of the study in Order
to treat the subject of Student loans adequately.
The study is divided into eight parts. The first, a Perspective on
“Student Loans and The Business of Higher Education”, is a summary
of the seven parts which follow. It should be valuable to those who lack
time to read the entire work, since it takes up the salient points in digested
form. Chapters II and III will be of interest to those who lean toward
the broader aspects of higher educational finance. Chapters IV, V and
VI will be of interest to those who are close to the Student and are re-
sponsible for the administration of some of the university and College
funds. Appendices A and B should be of value to those who are working
out the mechanism for the administration of Student loans.
In the preparation of this study we have received the most generous
Cooperation from the members of both the Eastern and Western Asso-
ciations of University and College Business Officers. We must feel in-
debted to them, since without such Cooperation in the way of furnishing
the desired material and giving valuable suggestions the work could not
have come to a successful end. The members of the Harmon Founda
tion Staff have also given untiring cooperation and have made available
to us all information at their command. Miss Ethel C. O’Neill, who has
been associated with me, did all the secretarial work connected with the
study, prepared all the graphs and charts, made the digest for Appendix B,
and has given constructive criticism at every step in the work. The sug
gestions made by Mr. W. E. Harmon and Professor Samuel McCune
Lindsay of the Faculty of Political Science at Columbia University and