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 IV. The student as a financial risk

Collection:: Economics Books

Their Relation to Higher Educational Finance 63 Dl AGR AM III' THE COLLEGE OF BUSINESS ADMINISTRATION OF BOSTON UNIVERSITY Effect of Education on Average Incomes at Different Ages and Total Life Earnings FiGURE I.—The Untrained Man. He goes to work as a boy of 14—reaches maximum income at 30, on the average less than $1,200. a year. Since his income is largely dependent on physical strength and manual dexterity, it falls off at 50 or earlier, to'a poiut below the level of seif support. More than 60 out of every 100 untrained workers are de pendent upon others for support at the age of 60. Total earnings from 14 to 60, about $45,000. Not more than $2,000. is earned in the four years that would have given him a High School education. Figure II.—The High School Graduate. He goes to work at 18, passes the maximum of the untrained man within seven years, rises steadily to his own maxi mum of approximately $2,200. at 40, and continues at tliat level for the remainder of his active life. Total earnings from 18 to 60, about $78,000. The $33,000. more than that earned by the untrained man represents the cash value of a four-year High School course—but note below what return may be expected from four years of Higher Edu cation. Figure III.—The College or Technical School Graduate. His permanent earnings began at 22, although a considerable amount may be earned during the College course. By the time he is 28, his income equals that of the High School graduate at 40, and it continues steadily to rise, practically without a break. Since his income is dependent upon his mental ability and training constantly improved by practice, it increases instead of diminishes with the years. The average of $6,000. at 60 is offen surpassed. Total earnings from 22 to 60 (not including anything earned during the College period), $150,000. The $72,000. more than that earned by the High School graduate represents the cash value of College, or technical training. 1 Used through the courtesy of Dean Lord.

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