A study of student loans and their relation to higher educational finance

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Monograph

Identifikator:: 1028402236

URN:: urn:nbn:de:zbw-retromon-41825

Document type:: Monograph

Author:: Chassee, Leo Jeannot

Title:: A study of student loans and their relation to higher educational finance

Place of publication:: New York

Publisher:: Harmon Foundation, Inc.

Year of publication:: 1925

Scope:: 1 Online-Ressource (170 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

150 A Study oe Student Loans i' ten years. It was to be a revolving fund, since in the ten-year period the loans would be repaid and thus funds made available for new loans. The interest on the Capital and interest payments of the borrower were to be used to raise the insurance fund against non-payments. A form of group guarantee is used by the association. Every Student in a German university is taxed one mark each session for the purpose of building up the insurance fund. _ This general tax as well as the activity of the Loan Association would fix in the minds of all well-off students that they have obligations toward their comrades who are in need. 5 Early Difficulties of the Association The currency disaster in Germany which took the form of inflation hindered the plan of building up a big Capital. Later with the introduction of a stable currency, the financial Situation improved. The difficulty which first presented itself was the depreciation of the money that had been loaned. The continual depreciation of paper marks and the rise in prices made it difficult for the Student to be free from care and need. The loans extended were thus mostly gifts to the borrower and the Capital was practi- cally destroyed by inflation. Loaning on the gold mark plan was then adopted and many of the paper mark borrowers were asked and consented to pay back a larger amount, even though they had no legal Obligation to do so. Future Prospects The possibilities of the Organization, as set forth by its business man agement, are very great, provided there is a just application of the dis- posable funds. It is hoped by the association that the German students will help to realize these possibilities by their cooperation. The work of the association will be able to prosper only if the Spirit of self-government and self-help will be strengthened in the students at present and in the future. 6 5 Ibid. • Ibid.

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