46 
A Study of Student Loans and 
Points of View 34 
Examining the present tendencies of thought on this subject, we find 
that they fall into three categories. At one extreme we find those people 
who think that society should furnish higher education. By this is meant 
that when there are not sufficient funds available from Philanthropie 
sources, the state or community should become responsible. At the other 
extreme we find those who believe that the direct recipient, that is. the 
Student attending the university or College, should pay the full cost of 
education, and who hope that means can be found to maintain the present 
type of enrollment under such a regime. 
Between these two extremes we find the large majority who believe 
that society as a whöle and the direct recipient should bear jointly the 
financial support of higher education. This group, of course, is further 
divided as to what per cent. of the total cost each should bear. Let us 
examine each of these views in turn. 
Society Should Bear the Cost 
Those who advocate that society should bear the cost take their stand 
on the ground that education is not only beneficial but necessary for the 
well-being and progress of society. This is a socialistic or institutional- 
istic point of view toward education—a commodity to be distributed 
to the public and paid for by it. This doctrine had its roots in lower 
education and not in higher education. The essence of it is that by giving 
all individuals an opportunity to be educated, society is benefited propor- 
tionately. This was true at one time and may still be claimed of lower 
and secondary education, but higher education has assumed new purposes. 
Those who are of this opinion have not progressed beyond the trend of 
thought that was prevalent when universities and Colleges were first estab- 
lished. The early institutions of higher learning were privately endowed 
universities and Colleges. They trained ministers and other Professional 
men to meet a social need. These people went out and worked for very 
small fees and. their efforts were in large measure missionary, whether 
they were in the ministry, in teaching, law, or medicine. Education did 
not have the same economic value then as it has today. 
34 Based on Interviews and correspondence with: 
Mr. T. C. Carlson, Bursar, University of Arkansas. 
Mr. J. C. Christensen, Ass’t Secretary, University of Michigan. 
Mr. Horace S. Ford, Bursar, Mass. Institute of Technology. 
Mr. A. J. Lobb, Controller, University of Minnesota.. 
Mr. M. E. McCaffrey, Secretary, Bd. of Regents, Univ. of Wisconsin. 
Mr. W. J. Mathers, Ass’t Cashier, University of Chicago. 
Mr. Lloyd Morey, Comptroller, University of Illinois. 
Mr. J. D. Phillips, Bus. Mgr., University of Wisconsin. 
Mr. N. C. Plimpton, Auditor, University of Chicago. 
Mr. George F. Sheers, Auditor, Carnegie Institute of Technology. 
Mr. Shirley W. Smith, Secretary, University of Michigan. 
Dr. S. S. Wilson, Secretary, Western Reserve University. 
Dr. C. F. Thwing, President Emeritus, Western Reserve University.