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

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter V. Financing the student

Collection:: Economics Books

Their Relation to Higher Educational Finance 87 has been disbursed under this brand of Student aid and since tradition has assigned to it so much prestige. The maladministration of these funds is all the more reprehensible when we consider the length of time which this sort of help has been in existence and the amount of thought which has been given to it. But like some social institutions to which dignity has been assigned rather than acquired, this one has peacefully rested under a mass of unclear thinking. The result has been that no well- planned policy has been established and put into practice. The faults have been two—the purpose for which these awards have been granted, and the selection of the recipients. Unfortunately, these awards have often been given without any justification. Nothing specific has been required of the Student for what he received. 49 In many cases it has practically amounted to paying him to attend classes, and no attention has been paid to the sort of grades received while holding such fellowships. The result has been at times to malce Professional loafers out of otherwise promising young people. On the other hand, many of the holders of these awards have gained prom- inence in the fields of business, Science, and the arts. This was what could rightfully be expected of them, for the young person who has such an honor conferred upon him should go, in later life, far beyond what was expected of him in College. It is evident, however, that a large number have not reached even the heights to which they were destined by those who conferred the awards, and some have failed miserably to hit the mark. These observations bring to us in a startling manner the faults which have existed in the making of these awards. Young men and women have not been properly estimated. It is, of course, as difficult to forecast the success of an individual ten or twenty years hence or even less, as it is to forecast the future of an individual enterprise or business as a whole. Nor can the individual himself gauge his future with any degree of accuracy. So those who determine the awards cannot in any way be called to task for errors in judgment. But it should be possible before the final selection to require of the candidate something specific in the way of performance which is better than that of the average Student. If it does not seem likely that he will contribute to the Organiza tion or advancement of knowledge, there seems to be no reason to give him financial support, and he should be made to understand that unless he does accomplish something tangible, the aid will be withdrawn or converted into a loan. The high-minded young person will not want to accept such compensation unless he is determined to give something in return. 40 “It is important for a young man to learn that the larger outside worid in which he is to m . a *5 e his fight will not carry him as a helpless bürden, but will demand a fair return in the way labor or Service for all that it gives.” F. P. Venable, President, University of North Carolina address before the National Association of State Universities, 1905.

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