146 
A Study of Student Loans 
6. 
(Second notice front Harmon 
Foundation to borrower who 
has become delinquent on 
his regulär $10 installment) 
Mr. John Doe 
140 Nassau Street 
New York, N. Y. 
My Dear Mr. Doe: 
While you were a Student at the Harmon 
Foundation had faith enough in you to grant you a loan so that you could 
continue your education. You signed a Statement that you had read and under- 
stood our terms for repayment, and also signed an agreement to make payment 
of $10 each month beginning the first of until your entire contract 
had been paid. 
We find that we have not yet received your remittance due the first of 
although we called it to your attention on and we 
believe your College and the sub-chairman of your group have also communicated 
with you regarding it. Your installment has also now become due. 
Your carelessness seems inexcusable since there is a clause in your contract that 
if on account of illness or loss of employment due to no fault of your own, you 
cannot meet an installment on time, you may request an extension by writing 
to the Harmon Foundation ten days before the installment becomes due. 
We cannot allow an item to remain delinquent without the borrower at 
least paying something on account. If you are not in a Position to pay the 
entire amount at this time, we shall expect you to send at least part payment 
and advise us when you will send the balance of it. This will show your good 
faith toward the Obligation and keep your account alive. 
If, however, we do not hear from you before your 
account will be placed with our attomey for collection and any legal costs will 
constitute an additional charge against you. 
Very truly yours, 
Division of Student Loans