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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Document type:: Monograph

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Title:: Chapther VI. The administration of student loans

Collection:: Economics Books

100 A Study of Student Loans and 101 Interest Rate The Variation between the rates of interest charged on loans is as great as the difference in the amounts of money loaned to one Student. At present the Situation is as follows: RATE OF INTEREST CHARGED Rate Number of Institutions Total 254 8% 2 7% 7 6% 118 5% 36 4% 43 3% 9 2% 13 No interest 26 Thirteen institutions have a progressive rate as follows: 3% Ist term and 6% thereafter 1 No interest unless not paid when due 1 6% and 8% if not paid annually 1 2% Service Charge and 5% after graduation 1 4% from date of note and 5% after graduation 1 4% and 5% while in College and 6% after graduation 1 4% first four years after graduation and 6% thereafter... 2 2% to 4% after graduation and 6% on overdue install- ments 1 No interest until three years after graduation and 4% thereafter 1 6% or 4% if note is paid before maturity 1 5% before graduation, 6% after graduation, and 8% after maturity 1 5% first year after graduation and 10% after maturity.... 1 It is evident that there is no similarity of practice in regard to interest charges among the various institutions. The time at which interest Starts can be taken into consideration along with the rate charged. The 254 institutions reporting sum up as follows: Interest from date of loan 193 Interest from date of leaving school 35 No interest 26 Total 254 What deductions can be made from present practices? There is no uniformity as to rate of interest nor as to time of starting interest charges. There seems to be no reason for exempting students from paying interest on loans granted. The Student takes out a loan because he thinks it is a good business venture to borrow so that he may have more time to devote to his intellectual pursuits. Not paying interest or paying anything

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