Their Relation to Higher Educationae Finance 
13 
that he know how to cope with the practical affairs of his environment. 
The university and College could do no greater service than to train the 
Student in these matters. The student’s contact with the business side of 
higher education is an opportune place to do this. The business side of 
higher education, however, must be business-like and this can be done 
only by making it independent of the academic side. The Situation then 
becomes comparable to conditions which the Student will encounter in 
the outside world. 
When the above conditions have been complied with, the Student loan 
problem then becomes more simple and easier to handle. However, this 
training in the business affairs of the student’s life can be initiated at an 
earlier period than in College. The way in which the College or university 
may bring this about is to require that each Student has demonstrated a 
knowledge and ability to handle his personal business affairs properly 
before entering College. This will awaken the public, his parents, and 
educators in secondary schools to the realization of the importance of 
knowing proper personal business management. When Colleges and uni- 
versities begin to consider a knowledge of personal economics or personal 
finance essential to a successful career, institutions which prepare students 
for College will evolve the necessary machinery to bring this about. In 
general it will consist of guidance, and perhaps courses in grade and high 
schools in the managing of one’s personal economic resources and finance. 
It can be done in Cooperation with savings banks. The grade and high 
school Student will be encouraged to save and what is more important, he 
will be taught how to better manage the resources which he has at his 
command. The development of the idea of greater efficiency in handling 
checking accounts, balancing these with the bank, accurate bookkeeping 
methods in personal affairs, the proper budgeting of one’s resources over 
a period of two or three years may be made a requisite to College entrance 
or be given some form of credit toward the College work. The actual 
book in which the Student makes and keeps his calculations, how closely 
the outcome measures up to his calculations, and corrections made for 
future personal finance could be made the basis for both financial and 
academic credit. This teaching will have to be of a practical nature. A 
new literature will have to be created on the subject of personal finance. 
The Student will be taught how to fit himself best to his economic and 
social environment. It can be successfully done by appealing to the selfish 
motive and thus turning the selfish motive to a fruitful end. Young 
people must be taught how to manage their personal economic affairs so 
that they will be better able to utilize their opportunities, both for them- 
selves and for others with whom they come in contact. If the universities 
would exert such pressure from the top, they would be spreading a whole-