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 V. Financing the student

Collection:: Economics Books

86 A Study of Student Loans and The point which should be kept closely in mincl is the maintenance of a proper balance in all financial dealings with the Student. When no work can be obtained by the desirable Student, or when he must do outside work to the detriment of his full educational development, it is then that the institution itself or some outside Organization should Step in and give him legitimate assistance in the form of well administered loans. The loan should come in as the final weight to balance his budget provided always that his future possibilities warrant the investment. Loans, therefore, should act as a balance in Student finance and should not be made unless the loaning party is willing to “see the Student through.” When money has once been loaned to a Student, he should not be aban- doned unless he becomes financially hopeless. When a loan is made, it is not enough to consider whether the Student will be able to repay; it is also necessary to know how much money in addition he will need before he will be able to “cash in” on his investment and how much of this additional amount he will be compelled to borrow. If he is likely to be a bad business proposition, he should receive no loan; but if he is to get a loan, he should be carried through until he begins to “cash in.” If a man must borrow in his freshman or sophomore year, the chances are that he will have to borrow during the succeeding years of his College course, and unless the loaning party is ready to meet his reasonable demands during these succeeding years, no loan should be made during the earlier years. It is contrary to göod business policies. What reliable financier or bank will put money in an enterprise and then abandon it before the first turnover has taken place? Astonishing as it may seem, it remains true that this fundamental principle of good finance is rarely found in the administration of Student loans. Nothing could be more unbusiness-like. If money is once placed on a Student, he should be assisted to make good until he can be branded as an ultimate failure. The Postponement of Fees The postponement of fees is a form of loan and is here referred to for record only. Some institutions take a note in lieu of fees and tuition. Others extend a loan and then take the proceeds of the loan for fees and tuition. There is absolutely no difference. There may be a certain psychological effect, but in the last analysis, it is merely accounting tactics. The postponement of fees and tuition should be governed by the same principles as loans, for it is in fact a loan. Fellowships and Scholarships Fellowships and scholarships can hardly be said to have been admin istered more wisely than loans. This is unfortunate since so much money

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