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

56 A Study of Student Loans and Knowledge with an Economic Purpose The third division is knowledge with an economic purpose which primarily benefits the individual who possesses it. Knowledge of such a nature, whether possessed by an individual or Organization has a com- mercial value and so its full cost should be paid for by the recipient. Philanthropy and society should bear only that portion of the cost of such knowledge as to cover only that part of it which is cultural and political. Business organizations can be depended upon to furnish the funds for the advancement of economic knowledge, and society and philanthropy can organize such knowledge in suitable form to be placed on the intellectual market for the individual at practically the full cost. Again, it must be realized that none of the dividing lines are hard and fast; that there will necessarily be some overlapping; that different fields of learning will have to be assigned to relative positions; and that there will have to be further allocation within each of the three sources of income. The Share of Philanthropy The distribution of the share which philanthropy bears will necessarily be determined by the conditions imposed in restricted endowments and gifts. But with definite financial policies the funds forthcoming from philanthropy should increase if they are guided into the proper channels where their assistance is most needed and where the greatest benefits will be derived. A certain donor in a recent conversation has said: Institutions of higher learning must not come to me for funds until they can show a wiser use and more eflicient way of administering the funds they already have. The Share of Society In the interest of social justice there must be a reapportioning of taxes for higher education. If the educational reformer will become for a time a Student of taxation and finance, the path will be cleared. The continued reliance upon outworn methods, the old shibboleth-like increase of assessments, equalization of property and the like are in vain. The first condition of progress is an appreciation of the real secret of the present failure. 17 The program includes two remedies, one economic and the other politi cal, which means the development of a fiscal System that will respond to modern needs and that will tap the resources of the community according to the relative ability of the individuals and an apportionment among these individuals in accordance with benefits derived from the existence of insti- 27 27 E. R. A. Seligman, “The Financing of Education,” Educational Administration and Super vision, Vol. 8, p. 456, November, 1922.

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