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.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter V. Financing the student

Collection:: Economics Books

88 A Study of Student Loans and There is needed, then, a more careful appraisal of the individual; not once but frequently. Better gauging of the individual is as important to society both in its social and economic aspects as it is that the future of business enterprise or business conditions be gauged. This is necessary to social progress and there could be no better place than the university to start this selective process. Some work is already being done along these lines in the way of mental tests for admission to Colleges and of grouping for instructional purposes. Since scholarships and fellowships are awarded to a few who are supposed to be at the top of the scale in the university community, it is most imperative that the selection of these be made with certain fundamental principles in mind. In the past students have received these awards principally on the basis of scholastic ability, with the exception that some scholarships and fellowships were granted to those individuals who were in need. There have been many variations between these two extremes, which makes it difficult to deter- mine the principles which should prevail. That which is of the greatest importance in this consideration of scholarships and fellowships is what part they should play in Student aid; what relation they should bear to self-help; what ratio should exist between them and loans. It is neither possible nor prudent to go into detail here in regard to the administration of such aid to students, but there are certain guiding principles which would go far toward setting matters aright. The first Step is to draw a sharp line between scholarships and fellow ships. They do not and they should not mean the same thing. The fellow ship should be held by a Student with a high order of scholastic ability. He should be able to push forward into the field of knowledge in an inde pendent fashion. If he is incapable of this, there is no reason why he should be supported while acquiring knowledge to be commercialized later. In a case like this a loan should be made. Appointment as a fellow does not necessarily mean that financial assistance should be given. A fellowship should be formal recognition of intellectual accomplishment. Therefore, universities could establish, for instance, an Adam Smith Fellowship in Economics or a Barnard Fellowship in Medical Research, not necessarily carrying any compensation, but denoting an honor which should be sought by those who are scholastically ambitious. The first considerations are the scholasic attainment and promise of greater future development. These are to be considered regardless of financial need. After the selection has been made on this basis, the financial element should enter in and financial assistance given to those who need it. If the Student is to commercialize his training, he should be given a loan; if not a peri- odical allowance.

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