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

Their Relation to Higher Educational Finance 59 that increased tuition and fees are advisable in the interest of higher learn- ing, what reasons can be advanced for the carrying out of such a policy which at first seems inhuman and hard-hearted ? To refuse to assist the young person to “get on his feet” so to speak, is strictly against tradition and sentiment, but if kept within reason it is not against common sense and clear thinking. The task should not be made so difficult that the Student will give up, but sufficiently difficult to make him appreciate the value of the training he is getting. The fact that he has been paying full price for his clothing and amusements has caused him to give no less attention to these elements of his College life. A higher price for the academic element ought not to lessen his zeal for it. It is contrary to common sense to have the Student pay full price for everything in his College life except that which should be the most important to him —his intellectual training. In speaking on the cost of education to the individual, Dr. Thwing says: There is a fear among certain College people in America that the race of rieh men will die out, that they will be unable to give in large sums. For one, I do not so believe. New sources of revenue are to be discovered. ‘New forces of Nature are to be discovered. The creation of power through the tides, the making of nitrogen from the air, and new sources for electricity will be conditions out of which riches will be earned in the future.’ In securing larger revenues for the private institutions, the movement is strong in charging a higher price for tuition. Fees have been greatly increased.. Such merease is proper. Distinction should be made between the fee to be paid in the undergraduate College of liberal learning and in the Professional school. Al- though students do not enter the Professional schools in order to become rieh; yet the Professional school is a tool which immediately fits them for self-sup- port and for aiding the community. The undergraduate College has for its pur- pose the enlarging of the mind and sympathies of the graduate. It has a pecuniary value of course—and a great pecuniary value. But this value is not so significant as found in the case of the Professional school of medicine or law. Professional education, in money, is extremely costly. It is now costing the university seventeen hundred dollars ($1,700) for this year (1920- 21) to educate each of its students in the medical school, for which the Student is paying two hundred dollars. The undergraduate cost is four hundred dollars, and the Student pays less than two hundred dollars. The endeavor for the better endowment of the College should be constant, and the endeavor also for the Student to pay as large a share for his education as possible should be continued. 81 The idea here is not necessarily to have the Student pay the full cost of his education, but the full cost of that portion of it which is of positive benefit to himself and brings a direct commercial return to him. No argument can be raised against such a policy except doubtful and false sentiment and arguments based on false concepts. All other products which an individual purchases must be paid for at full value. No excep- tion must be made with training which should be the most highly prized of all products. 31 C. F. Thwing, ‘'Support of Higher Fducation” in School and Society, March 19, 1921, pp. 356-7.

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