Their  Relation  to  Higher  Educational  Finance

109

The  Educational  Institution
Colleges  and  universities  must,  therefore,  administer  at  least  some
of  the  Student  loans,  but  there  exists  no  unanimity  of  opinion  as  to  how
they  can  best  do  this.  Past  experience  does  not  prove  a  valuable  source
from  which  to  draw,  so  it  is  necessary  to  turn  to  organizations  other  than
the  universities  and  Colleges.  The  most  fruitful  fields  from  which  to
draw,  as  this  thesis  indicates  throughout,  are  those  of  commercial  and
investment  lending.  Higher  educational  institutions  need  to  work  out  new
policies  and  develop  a  System  for  the  administration  of  Student  loans.  Such
policies  and  System  can  be  built  by  taking  over  the  most  effective  elements
to  be  found  in  commercial  and  investment  banking;  in  the  Harmon
plan;  in  Systems  used  in  Europe;  and  also  by  making  use  of  the  principles
which  are  set  forth  in  this  study  as  the  results  of  an  inquiry  conducted  by
the  Student  Loan  Information  Bureau.