94

A  Study  of  Student  Loans  and

This  fund,  which  is  in  a  state  Institution,  was  originally  started  in
1874  and  in  1905  was  merged  with  other  funds.  The  repayment  of  loans
made  previous  to  1905  and  since  has  enabled  the  loan  fund  to  grow  as
the  figures  indicate.  An  experience  of  this  kind  should  help  to  convince
the  most  skeptical.  It  is  evident  that  there  is  no  more  risk  involved  in
Student  loans  than  there  is  in  commercial  loans  where  as  great  care  is  taken
in  the  selection  of  the  risk  and  the  funds  are  administered  in  a  firm  business-like
  manner.  The  figures  represent  a  restricted  fund,  but  the  fact
that  it  has  been  able  to  grow  as  it  has  proves  that  there  is  no  reason  why
the  principal  could  not  have  been  loaned  out  to  students  as  well.  The
Student  has  proved  himself  as  reliable  a  risk  as  a  person  in  commercial  or
industrial  ventures  and  so  deserves  to  have  like  confidence  placed  in  him.

Past  Experience
The  experience  of  institutions  in  general  has  not  been  so  encouraging
as  the  individual  case  discussed  above.  However,  many  of  the  institutions ­
  have  been  successful  in  the  administration  of  their  funds.  The
following  Compilation,  jointly  prepared  by  the  Harmon  Foundation  and
the  Student  Loan  Information  Bureau,  shows  funds  established,  amount
available,  amount  outstanding,  and  amount  overdue  in  various  institutions.

Amount  of

Institutions

Fund  Fstabüslied

Available  1923

Outstanding

Overdue

Total  135

$4.609,088

$944,905

$1,634,795

$386,816

1

672  814

84,821

2

454,390

49,347

130,094

3

345,394

76,878

268,515

4..

290  000

14,000

5

251,500

13,900

48,928

18,386

6

206,876

9,535

70,231

35,721

7

153,922

8,697

91,830

8

105,656

16,644

53,000

5.000

9

101,000

8,907

6,482

10

100,000

5,000

11

96)821

18,423

25,000

12

96,500

10,000

107,791

78,773

13

88,165

54,265

26,815

11,744

14

76,257

53,565

54,836

10,689

15

68,165

4,000

16

62,503

5)700

17,538

17

55,000

5,897

8,619

1,924

18

54,500

11,500

7,369

19

52,524

2,710

25,027

15,509

20

50,500

6,332

26,435

21

50,000

6,500

22

50,000

2,500

23

45,792

29)320

17,365

24

45,000

2,400

25

45,000

11)300

8,699

500

26

35,000

1,800

3,000

27

34,446

1,722

2,427

957