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.

148 A Study of Student Loans and The general economic importance of the association is due to the fact that it enables the students to finish their studies without being troubled by money cares. The money is at his disposal on favorable terms and thus the Student is prevented from falling into the hands of usurers as was the case pre- viously. 3 The work of the association is built mainly on the thought that the Student is able to get means enough for his first Semester, but to the end of his university work he is not able to do so and must be accorded help which enables him to use the future returns of his Professional work of the next decade in the finishing up of studies.* This idea of self-help and especially of the Student as a worker was the basic one in the establishment of the association and in all its measures. The way proposed by the Loan Association was the only way which would enable every upright man to work up with the help of his own forces and with the complete security of his inner freedom and independence. Organization and Administration The association is managed by the Executive Committee which con- sists of the President, two vice-presidents, and a treasurer; the Managing Board which is made up of representatives of the governments of the German Empire; representatives of the Association of German Uni- versities, representatives of the German students, and representatives from the business world; and the General Assembly. At the outset it was decided that the regulations concerning the management of the branches were not final, but that changes ccruld be made later on the basis of future experience. Although the control of the funds was to be centralized, the granting and payment of loans was to be local, handled by the branches. The management of each branch is taken care of by representatives of the faculty of the university where the branch is located, representatives of the Student body of the university, and a practical business man (pref- erably a banking specialist). The purpose of the branch is the carrying on of local activities: 1. The distribution of means received from the central office among students chosen after careful and impartial investigation of the incoming applications. 2. The continuance of connection with the borrowers until repayments have been completed. 3. The receiving of repayments on loans as well as interest. 4. The transfer of these payments to the central office. * 1 8 Und. 1 Ibid.

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