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

Structure type:: Chapter

Title:: Chapter III. Allocation of higher educational costs

Collection:: Economics Books

Their Relation to Higher Educational Finänce 49 Bibliolh&J divided between the recipient of higher education and society. There is no unity of thought regarding such division. It brings up not ot'.ly a qufstion, of accounting, but one which involves social and financial determine how much each should pay, it is necessary to estimate just the Proportion of benefit the individual and society receive when the individual is given a College education. We find that some believe in drawing a line between fixed and operating expenses. Such a division is not necessarily in proportion to benefits received. It is not possible to obtain equity in this matter with any mathematical precision. A further problem presents itself here. There is not only the allocation of costs between society and the Student body, but further adjustments must be made within the Student body. The ratio will not be the same for society and for the Student in different courses. It is evident that the ratio between society and the indi vidual will vary depending upon the economic value of the course the Student follows. This does not mean that all professions and other en- deavors are not necessary to our social organization, but the cash value of the education received varies depending on the subjects pursued. According to the theory of dual benefit in higher education, the next step is to find the ratio of benefit as between society and the individual, and also the difference which exists in this ratio in the various schools or professions. The latter should be based on the cost to the Institution of giving education and the cash value of that education to the recipient. The finding of this ratio and the allocation of educational costs accordingly, would seem to be the starting point for the readjustment of College and university finance under our present social and economic organization. The Problem of Cost Allocation The views set forth above are illustrative of the cross currents of thought that exist among those who direct the financial policies of higher education. The reasons for the divergent views are obvious. They are due to the failure to take a long ränge view of higher learning and the failure to recognize the changing aims, or purposes, which come about due to a changing social, political, and economic society. Notice has not been taken of the facts that in some fields of learning the political motive, in others the cultural, and in many more, the economic predominates; that in most fields of learning all three are present in varying degrees and costs should be allöcated proportionately. The financial house of higher edu cation needs to be constantly remodeled to meet our changing economic and social conditions. This readjustment should necessarily Start from the ratio of benefits received by the parties concerned. Just how such a ratio can be established and costs allöcated accordingly is the next ques- tion to be determined.

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