Full text : A study of student loans and their relation to higher educational finance

Their  Relation  to  Higher  Educational  Finance

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that  increased  tuition  and  fees  are  advisable  in  the  interest  of  higher  learning,
  what  reasons  can  be  advanced  for  the  carrying  out  of  such  a  policy
which  at  first  seems  inhuman  and  hard-hearted  ?  To  refuse  to  assist  the
young  person  to  “get  on  his  feet”  so  to  speak,  is  strictly  against  tradition
and  sentiment,  but  if  kept  within  reason  it  is  not  against  common  sense
and  clear  thinking.  The  task  should  not  be  made  so  difficult  that  the
Student  will  give  up,  but  sufficiently  difficult  to  make  him  appreciate  the
value  of  the  training  he  is  getting.  The  fact  that  he  has  been  paying
full  price  for  his  clothing  and  amusements  has  caused  him  to  give  no
less  attention  to  these  elements  of  his  College  life.  A  higher  price  for  the
academic  element  ought  not  to  lessen  his  zeal  for  it.  It  is  contrary  to
common  sense  to  have  the  Student  pay  full  price  for  everything  in  his
College  life  except  that  which  should  be  the  most  important  to  him
—his  intellectual  training.  In  speaking  on  the  cost  of  education  to  the
individual,  Dr.  Thwing  says:
There  is  a  fear  among  certain  College  people  in  America  that  the  race
of  rieh  men  will  die  out,  that  they  will  be  unable  to  give  in  large  sums.  For
one,  I  do  not  so  believe.  New  sources  of  revenue  are  to  be  discovered.  ‘New
forces  of  Nature  are  to  be  discovered.  The  creation  of  power  through  the
tides,  the  making  of  nitrogen  from  the  air,  and  new  sources  for  electricity
will  be  conditions  out  of  which  riches  will  be  earned  in  the  future.’  In
securing  larger  revenues  for  the  private  institutions,  the  movement  is  strong
in  charging  a  higher  price  for  tuition.  Fees  have  been  greatly  increased..  Such
merease  is  proper.  Distinction  should  be  made  between  the  fee  to  be  paid  in  the
undergraduate  College  of  liberal  learning  and  in  the  Professional  school.  Although
  students  do  not  enter  the  Professional  schools  in  order  to  become  rieh;
yet  the  Professional  school  is  a  tool  which  immediately  fits  them  for  self-support
  and  for  aiding  the  community.  The  undergraduate  College  has  for  its  purpose
  the  enlarging  of  the  mind  and  sympathies  of  the  graduate.  It  has  a
pecuniary  value  of  course—and  a  great  pecuniary  value.  But  this  value  is
not  so  significant  as  found  in  the  case  of  the  Professional  school  of  medicine
or  law.  Professional  education,  in  money,  is  extremely  costly.  It  is  now
costing  the  university  seventeen  hundred  dollars  ($1,700)  for  this  year  (1920-21)
  to  educate  each  of  its  students  in  the  medical  school,  for  which  the
Student  is  paying  two  hundred  dollars.  The  undergraduate  cost  is  four
hundred  dollars,  and  the  Student  pays  less  than  two  hundred  dollars.  The
endeavor  for  the  better  endowment  of  the  College  should  be  constant,  and
the  endeavor  also  for  the  Student  to  pay  as  large  a  share  for  his  education
as  possible  should  be  continued. 81
The  idea  here  is  not  necessarily  to  have  the  Student  pay  the  full
cost  of  his  education,  but  the  full  cost  of  that  portion  of  it  which  is  of
positive  benefit  to  himself  and  brings  a  direct  commercial  return  to  him.
No  argument  can  be  raised  against  such  a  policy  except  doubtful  and  false
sentiment  and  arguments  based  on  false  concepts.  All  other  products
which  an  individual  purchases  must  be  paid  for  at  full  value.  No  exception
  must  be  made  with  training  which  should  be  the  most  highly  prized  of
all  products.
31  C.  F.  Thwing,  ‘'Support  of  Higher  Fducation”  in  School  and  Society,  March  19,  1921,
pp.  356-7.
            
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