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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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 65 ment on credit. Higher education is as truly an investment for the indi vidual and as beneficial to the public as the buying of a farm; taking part in a cooperative apartment plan; or the securing of any other form of property on the installment plan. The difference lies in the analysis of the basis of credit, and the method of payment and term of credit. Analysis of Student Credit A better method for analyzing this form of credit is much to be desired. The first requisite for better analysis is to take the matter out of the hands of faculty members and place it under the direct supervision of the business officers of the university. This Statement is warranted by past experiences. Where members of the faculty are in authority on Student loan committees, the matter has been handled less efficiently than when the business officers are entirely entrusted with it. Lending money to students is a business proposition which should be done according to modified business Standards. The coupling of loans with the academic side of education has proven unwise. Loans have been made to indi- viduals without due caution and without specific terms. Business officers in most instances in the past have been nothing short of rubber stamps in this matter. This may be assigned as one of the chief reasons for the unfortunate experiences in the field of Student loans. There is every reason to believe, and experience bears out the fact, that where loans are under the direct supervision of the business officers, they are better administered. The second step in this analysis is to estimate the indi vidual. This consists of two parts: present character and the promise of future ability to “cash in” on his educational investment. Credit can be wisely extended only to the Student who can show some evidence of reliability and determination of purpose. His past record, not academic, but his dealings in other matters is the fairer basis upon which to estimate his reliability. His academic record is what keeps him in or puts him out of the institution. The dass work is no accurate measure of his business principles. Let the Student have two separate and distinct relationships with the institution: his academic relationship, which will be cared for by the faculty, and his business relationship, which will be cared for by the business officers. 81 His academic standing is of importance, but this information can be made available to the business officers by the faculty and at that point the authority of the faculty should cease so far as the loan is concerned. 81 This is in line with the view held by a small minority of the men interested in the Administration of higher education. This view is that the business side and the academic side of Institution should be kept separate and distinct. This form of Organization consists of a Division headed by a vice-president who administers the business side of the institution; and a second division also headed by a vice-president who administers the academic side of the institu tion. The two vice-presidents are then each fully responsible to the President for their respective or Sanizations. The University of California is at present conducted under a similar plan.

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