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

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Title:: Chapther VI. The administration of student loans

Collection:: Economics Books

92 A Study of Student Loans and students for each of the following five years, and 30 students for each of the next five years, and so on. Over a period of fifteen years, 375 such loans could be made. On the other hand, $100,000, turned into a revolv- ing fund, allowing $20,000 of the principal to be loaned annually for the first five years, would be sufficient to make 1,475 such loans, which means that it would serve practically five times as many students. It would operate as follows: Number of Number of Interest Students Principal and Students only Served Interest Served Ist year $5,000 20 $20,000 80 2nd “ “ << 24,000 96 3rd “ “ “ 23,000 92 4th “ «( U 22,000 88 Sth “ “ 21,000 84 6th “ 6,250 25 22,000 88 7th “ tl li 25,200 100 8th “ u “ 24,150 97 9th “ u “ 23,100 93 lOth “ u “ 22,050 88 1 Ith “ 7,812 30 23,100 93 12th “ << Ci 26,460 105 13th “ “ 25,357 101 14th “ << it 24,255 97 15th “ << IC 23,152 93 Totad $95,310 375 $348,824 1,475 The above figures should be convincing. One hundred thousand dol- lars administered as a revolving fund will help 1,475 students over a period of fifteen years, whereas it will help only 375 students during the satne period if administered as a restricted fund. Besides helping a greater number of students, it would attract, where well administered, more money to be handled in this manner, whereas the amount forthcoming when administered under the restricted plan is far from sufficient to meet the needs. If individuals who have money to give can be shown the good that can be derived by the establishment of revolving loan funds, they will be more willing to leave money for this purpose. Speaking of admin- istering money under the revolving method, Mr. G. C. Wintringer of Princeton University said: A fund of this kind makes a particular appeal to me personally and I have a feeling it should find favor with others. If an institution can demon- strate to a prospective donor that any money given for Student aid will be administered in a very business-like manner and can be used over and over - again, perhaps adding to the principal by the collection of interest, this should make a very strong appeal. It will likewise relieve the budget of the institution of the inclusion in it of a certain sum of money each year to be used for this purpose. Some officials and donors fear that if the principal as well as the inconie is loaned, the fund will eventually disappear. This fear is well founded only if we admit inefficiency in the administration of the funds.

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