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.

Their Relation to Higher Educationae Finance 125 This borrower had not even asked for an extension of time. The Founda tion is confident that fundamentally this man is all right, and that the debt will be paid. This letter is a grave reflection on some one or some insti- tution, or perhaps the social System under which the young man grew up. In Belgium, Switzerland, and Holland, and other European countries, it is often the practice of young men to Start in business on borrowed Cap ital raised on unendorsed paper, but these men have been trained in busi ness ethics that apparently have not been a conscious part of the American System of education. In looking toward the future development of its loan System, the Harmon Foundation extends honorary membership to all its borrowers who repay their loans satisfactorily according to agreements. With this goes a character certificate on the reverse side of which is set forth the estimation of three leading New York bankers of its value. The Division of Student Loans maintains that the Student who through his own initiative borrows to obtain an education and then repays, has established a credit rating that should be of immediate and continued use to him in obtaining banking accommodations. As the plan becomes better known and its Services extended, as the number of borrowers grows and their records become known, this should have an increasing value. Ninety-eight cer- tificates have thus far been granted. The Honorary Certificate is taking on a surprising significance—as shown by letters written in acknowledgment and appreciation of its receipt. The primary result of education is not learning, which of itself is a lifeless thing, but that inspiration which vitalizes the forces created or developed through study. The Foundation’s Honorary Members have caught that inspiration and are, because of it, approaching life’s problems on their toes. The change in the mental attitude of the graduate who has not yet paid his Obligation to that of the man who has won his spurs, from the point of view of the Division of Student Loans and his own, is most marked. The Foundation is beginning to harbor the hope that these young men and women have acquired something through their loan experience that will translate itself in other activities throughout their lives. Fach of us can probably look back on some minor experience or spontaneous bit of advice that has colored our whole career. The Honor Certificate is working that way with gratifying uniformity.

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