152 
A Study of Student Loans and 
5 
The contributions to be paid at once as well as the first annual payment have 
to be paid within a quarter of a year after the subscription. In case of very large 
amounts, the Executive Committee can permit payments in installments. The 
annual amounts have to be paid not later than March 31 st, the payments to be 
made at the place indicated by the Executive Committee. 
6 
Membership ends through the death of an individual, or witli legal entities, 
upon dissolution, or: 
a. Through the written application to the President which can be made out 
only to the end of the business year. 
b. When, in spite of reminders, the payment of dues does not follow within 
six weeks. The Executive Committee can extend this term in separate cases. 
The exclusion from membership can be decided upon by a three-quarters majority 
vote of the managing board. The investigation in a legal way of the grounds for 
exclusion is not permissible. 
7 
The funds of the Association are to be formed of: 
a. The contributions of the members and of donations. 
b. The payments each session of the students in German universities and 
in the Technological Institute of Danzig. 
c. The interest on a. and b. 
The fund that is formed by the contributions of the members and of dona 
tions is to be distributed in loans in such a way as to keep this part intact. The 
payments of the students go to form an insurance fund out of which losses 
through non-payment of loans are to be covered. The interest goes to pay first the 
expenses of the business management and the remainder will be divided into two 
equal parts: the first to be added to the insurance fund, the other to the Economic 
Help of the German Student Body as the main agent of the economic activity of 
the German students. 
8 
The management of the funds is to be centralized. The granting of loans 
and their payment to individual students is to be local. For this purpose in every 
university a branch will be organized with the title “The Loan Association of the 
German Student Body, Branch ” As a rule the faculty, the Student body 
of the respective university, and practical business men (among those of the latter 
group there should be if possible a banking specialist), will take part in the man 
agement of the branch. In those universities where there is already a definite 
economic association of students, it ought to send in an application for the estab- 
lishment of a branch. This application should be approved by both the Student 
body and by the university officers.