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 III. Allocation of higher educational costs

Collection:: Economics Books

48 A Study of Student Loans and he will later Charge a price for his Services, based upon his training. The advocates of this view would ask a fee that is just sufficient to make the Student appreciate the training he is receiving. Such a charge would bear no relation to the economic value of the training. Recipient Should Pay Full Cost Those who hold the opposite view maintain that the recipient of the education should bear the full cost. This is an individualistic opinion as compared with the socialistic one just discussed. There is some differ- ence within this group as to what is to be included in the cost.of education. However, regardless of that, they believe that the Student should be charged the full cost of giving him his training. This is based on a philosophy that the Student is the one who gains primarily and that society’s benefit is so remote that it should pay either little or none of the cost. Many who speak of the full cost have their own interpretation of what this consists. Some interpret it to be current expenses; others, both current and fixed expenses, and some would go so far as to include the interest on invested Capital, leaving out only the element of profit. This means an attempt, or at least a belief that the whole of higher education should be put on a purely business basis. If such a practice were followed, it might result in serious consequences. It might dis- turb our present type of enrollment unless we found a way to assist the less well-to-do Student to help himself in the way of loans. It would also mean that the cost of instruction would rise, since if education were on a purely business basis, the teaching staff would demand higher salaries and there would be a danger of throwing the whole of education on a bargaining basis and thus make it purely a money proposition. The same would be true if cost were interpreted to mean current costs or current expenses. It would mean that the state or endowments would furnish the plant and the Student would be charged the cost of upkeep and Operation. The same objections enter here. It is an arbitrary way of allocating costs because it fails to take into account aims or purposes on one hand and the direction which benefits take on the other. It is an attempt to apportion costs between society and the individual, but one which is based on the mechanics of accounting rather than being based on social equity. Dividing Cost Between Recipient and Society Between the two extremes we find more sturdy thinking not only from the standpoint of College and university finance, but from the broad social consequences as well. This group believes that the cost should be

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