A Study of Student Loans 
91 
As against these opinions there stand the actual conditions as follows: 
AMOUNT OF FUNDS AVAILABLE 1924-1925 
Revolving $187,253 10 funds 
Restricted 704,754 12 “ 
Emergency 5,000 2 “ 
Not specified 3,205,786 288 “ 
$4,102,793 
Revolving 
$60,000 
3,500 
28,100 
4,300 
11,353 
10,000 
50,000 
10.000 
5,000 
5,000 
$187,253 
Restricted 
$1,000 
25,000 
10,000 
25,000 
32,000 
1,000 
2,754 
50,000 
27,000 
25,000 
500,000 
6,000 
$704,754 
Ivmergency 
$3,000 
2,000 
$5,000 
The above data is most illuminating and shows that even though a 
large number of university officers prefer the revolving loan fund to 
the restricted, the amount of money administered under the latter method 
far surpasses that administered under the formen There is only $187,253 
in revolving funds as against $704,754 in restricted funds. If the “not 
specified” funds ($3,205,786) are taken to be restricted, as it is safe to 
suppose, the proportion becomes even more favorable to the restricted 
fund. Much of this money was left in the restricted form and must 
continue to be administered thus. However, it is safe to assume that 
there are many of these funds that could be placed on a revolving basis. 
An effort should be made to have future funds established in the same 
way. Weightier arguments and the sentiment of a large majority of offi- 
cials favor the revolving fund. 
It is not well to be guided by unweighted statistics which would lead 
us to advocate the restricted fund. The revolving fund has in its favor 
the support of those who have given both Systems a trial. The greater 
efficiency of the revolving fund is indisputable. If we should take, for 
instance, a fund of $100,000 and see what can be done with it under the 
restricted plan and on the other hand see what can be done with it under 
the revolving plan, the results are most instructive and lead us to wonder 
why this plan has been so long in coming into practice. One hundred 
thousand dollars at 5% yields $5,000 annually and would be sufficient to 
make a loan of $250 to 20 students for each of the first five years, 25