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.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter I. Financial development of higher education

Collection:: Economics Books

Their Relation to Higher Educational Finance 21 a training which would bear directly on his economic progress. The eco nomic advantage of such an education began to be stressed and along with this idea developed the Professional schools. The outcome was that many of the universities established Professional schools beyond those of medicine and law, and there developed schools of journalism and schools of business and the old divisions of law, and medicine, were looked upon as having an economic value to the individual as well as to the state. With the various purposes for training coming into existence and with the realization of the economic advantage to be derived from a College edu cation, increased funds were made available to institutions both by States and 'by individuals. The establishing of professorships and the giving of funds for the construction of buildings, as monuments to indi viduals, and fields of economic endeavor became prevalent. Higher educa tion now became one of the greatest recipients of charity, with the result that today it has a vast permanent endowment and philanthropy still bears the major portion of the cost of advanced training. 9 Financial Support and Purposes Throughout the entire development of higher education we find that the purpose for which it existed and its sources of financial support were closely related. A view of the present Situation reveals the same fact. It may be concluded that the reasons for the existence and liberal support of these institutions are three in number. 1. Cultural—which includes the religious or spiritual purpose and also em- braces the advancement of knowledge in unremunerative fields. 2. Political—which is generally explained as the training for citizenship. It should be noted that education for culture also bears directly on the train ing for citizenship. 3. Economic—which includes the advancement and dissemination of knowledge for the purpose of Controlling the material environment of humanity so as to bring the greatest amount of comfort and happiness possible, and that the individual may be able to command more wealth. 10 The above Classification is not necessarily listed in order of import- ance, but in historical sequence. These three purposes are now so closely interrelated that an attempt to assign separate values to each is difficult and perhaps futile. If it were possible to conclude that support and purpose bear absolute relationships, it would then be possible to determine the part the different purposes play in the carrying out of higher education, for the proportion of support which each source furnishes can and will be determined. 9 Sears, Op. Cit., p. 108. 10 This is reflected in the large sums of money set aside for research in the physical as well as the social Sciences.

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