Their  Relation  to  Higher  Educational  Finance

145

5.

(Second  interest  notice
frorn  Harmon  Foundation
to  borrower)
Mr.  John  Doe
140  Nassau  Street
New  York,  N.  Y.
My  Dear  Mr.  Doe:
You  have  already  been  notified  that  \ve  have  not  received  the  first  payment
on  the  accrued  interest  of  your  loan  contract  which  was  due  December  Ist.  Up
to  the  present  time  we  have  neither  received  your  remittance  nor  the  courtesy
of  a  reply  to  our  letter,  although  you  promised  when  making  application  for  a  loan
that  you  would  answer  promptly  all  letters  relating  to  the  Obligation  as  long  as
any  part  of  the  account  remained  unpaid.
We  cannot  understand  your  neglect,  especially  since  your  contract  provides
that  if  on  account  of  illness  or  loss  of  employment  you  cannot  pay  an  installment,
you  may  request  an  extension  of  time  by  writing  to  the  Harmon  Foundation  ten
days  before  the  payment  becomes  due.
No  banking  Organization  would  keep  your  account  open  unless  you  gave
some  indication  of  your  good  faith.  The  Harmon  Foundation  has  the  same
relationship  toward  you  that  a  bank  would  have.
We  shall  expect  payment  of  at  least  part  of  your  account  immediately.
Very  truly  yours,

Division  of  Student  Loans