CHAPTER V 
FINANCING THE STUDENT 
After studying bcrth students and loans from the standpoint of 
the institution, it is well to look at the student’s problem from his own 
viewpoint. This problem of the Student has various phases in some 
of which he has already received aid. However, he has received little 
systematic assistance in his financial difficulties. This is of great concern 
to him and in Order that his relation to the institution may be more 
harmonious it is important that the institution give him assistance and 
guidance in this matter. 
The Student’s Problem 
There is in university life not only the problem of the Student, but 
the student’s problem as well. The former is the only one which has 
been receiving due attention. College and university officials and faculties 
have looked upon the mission of higher education as one which should 
help the Student along lines intended to develop his character and to mould 
him into a finished product. In their zeal toward this end the academic 
side of student life has grown rapidly, while ample provisions have also 
been made for the social, moral, and physical welfare of the Student. 
It can be said with certainty that these phases of his College life have 
received more and better guidance than have what may be called his per 
sonal economics. Faculties, ccmsisting of men foremost in their respective 
fields, have been built up to care for academic training; much religious zeal 
has been displayed in student guidance; most social activities are receiving 
increased attention; physical training has certainly not been neglected; 
but financial instruction has been slighted. Where some attention has 
been given to such training, and only recently has this been true, it 
has occupied a very small part in the entire policy of the institution. It has 
never been properly studied and as a result never been intelligently cared 
for. This is the phase of the student’s problem which relates itself closely 
to student loans. It may rightfully be called “personal economics” or 
“personal finance”. 
Personal Economics or Finance 
Education in the management of his personal affairs is of importance 
in making the student’s training more complete. 38 The institution should 
38 “If we really could know our students, in their minds, their temperaments, their economic 
situations, their health, their ambitions, it is altogether likely that we could admit a freshman dass 
P^^'tenths of which would graduate. . . _ . We must not only know the level of their native 
Intelligence . . . but we must learn their biologic and economic background, their significant 
interest, their ambitions and their characters.” Dean Herbert E. Hawkes of Columbia College in 
his Annual Report for 1925, p. 17. gC ln