388. BLACKWELL, T. E. Student Loan Funds and the Law. Coll. & Univ. Bus., 27: 30-31, Sept. 1959. (Author: Educational Management Consultant, Washington University, Missouri.)

Shows that in the eyes of the law the student is still an infant until he has reached his majority, usually for men at 21, for women at 18, and resultant lack of legal liability for loans and other financial obligations. Discusses various pertinent court

cases.

389. BOKELMAN, W. ROBERT. The Practices of 100 Assorted Colleges in Making Student Loans. Coll. & Univ. Bus., 16: 22-25, Apr. 1954. (Author: Business Manager-Bursar, University of Kansas City, Missouri.)

Reports on maximum loans permitted, time when repayment begins, interest rates charged, amount of loan funds available, percent of student body receiving financial assistance, and other related features in 100 institutions.

390. Borrow for College, Pay Later. Chang. Times. 12: 30-31, July 1958.

"Watch the attitude toward loans swing from apathy to enthusiasm in the next few years.... Before long, college loans will be just as commonplace as car loans." Gives details of loan plan of Massachusetts Higher Education Assistance Corporation.

391. DE BURLO, C. RUSSELL, JR., and PAGE, ELIZABETH J. Tuition on the Installment Plan. Coll. & Univ. Bus., 25: 32-34, Sept. 1958. (Authors: (1) Controller; (2) Bursar; both of Tufts University, Massachusetts.)

Gives details and sample forms developed for greatest efficiency at Tufts University. "In the first year of operation, 385 out of a possible 2,460 students participated in the Distributed Payment Plan. Again in 1957-58, 16 percent (or 407 out of 2,540 students) were in the plan. Thus, the participation

has not reached a level at which working capital and cash would be adversely affected."

392. Can You Get a College Loan? Yes, Probably, and Plenty of Time To Repay. Chang. Times, 10: 39-41, Feb. 1956.

"This article is based on the most comprehensive survey of college loan funds ever completed. . . . Detailed questionnaires were sent to all colleges on the official list of the U.S. Office of Education." Answers numerous questions regarding college loans and gives sample statements of conditions in six institutions. Quotes Director of financial aid at Harvard University: "Loans ought to be the most important development in student fi nancing in the next 10 years."

393. COMINSKY, J. R. No Bargain Basement for Higher Education, Sat. Review, 40: 24-25, Nov. 23, 1957. (Author: Publisher, Saturday Review.)

Editorial comments on various methods of financing student attendance. Advocates marked increases in tuition with more extensive loans to be repaid after graduation. "A college education actually provides the increased income that more than pays for itself. Within 5 years after college the average college graduate is making about 40 percent more money than the average non. graduate."

394. EDITORS OF CHANGING TIMES, THE KIPLINGER MAGAZINE. Student Loans: Their Place in Student Aid. Washington: Kiplinger Associates, 1956. viii, 73 p.

Based on questionnaire sent to 1,886 institutions of higher education. "On the need for loan funds: 34 percent reported that their schools have substantially more than enough money in loan funds; 31 percent said they have just about enough; and 34 percent stated that they had less than enough. . . On willingness to borrow: 56 percent find students at the college level somewhat reluctant to borrow; 21 percent find them very reluctant. . . . On desirability of student

loan programs: 93 percent feel that it is preferable for students at college level to borrow rather than postpone or interrupt their education."

395. Education

on the Installment Plan. Overview, 1: 54–55, July 1960.

"Students and their parents are turning to consumer credit agencies to see them over the hurdle of rising college costs. . . . Of the $17 billion borrowed for personal use in 1959, about $100 million went to finance education." Describes loans plans for college education of Household Finance Corporation, Tuition Plan, Inc., New York Higher Education Assistance Corporation, and plans sponsored by group of Ohio banks.

396. GILMORE, ROBERT B. Tuition Payment on the Installment Plan. Coll. & Univ. Bus., 28: 47-49, Apr. 1960. (Author: Controller, California Institute of Technology.)

"California Honor College is a mythical institution, but the deferred tuition payment plan described in the documents that accompany this article are no longer fictional. Last fall, California Institute of Technology started such a deferred tuition payment plan, and 42 students are enrolled under it at present. . . . A student in California Honor College in an undergraduate class, including entering freshmen, may extend tuition payments over as many as 11 years under one of the two types of deferred tuition payment plans." Documents and forms for both plans are given in full.

397. HARMON

FOUNDATION. Trends

and Procedures in Student Loans. New York: The Foundation, 1932. 150 p. (Harmon Foundation Monographs, No. 4.)

Summarizes experience of the Foundation, after 10 years of pioneer experimentation in making college student loans. More than 3,000 loans totaling more than $500,000 made in first 7 years. Reports experiences, both favorable and unfavorable, in securing repayments. Gives revealing quotations from many letters, and form letters used for collections. Contains helpful suggestions for those making student loans at present time.

398. HARRIS, SEYMOUR E. Student Credit Could End Colleges' Financial Plight. Coll. Board Review, No. 37, 1822, Winter 1959. (Author: Professor of Economics, Harvard University.)

"In view of this plight of institutions on the one hand and of families on the other, I propose a revolutionary expansion of loans

for college expenses: provisions of loans totaling one and a half billion dollars a year within a few years and rising to a total of two and a half billion dollars a year by 1970. These sums of course far exceed the maximum of 90 million dollars a year for college student loans to be provided under the National Defense Act of 1958. . . . My proposal envisions furnishing loans that would average $1,000 per year .. to all students in private colleges and universities who need them. .. Loans averaging $500 annually would be furnished all students in public colleges and universities needing them."

399. Cuff.

Higher Education on the Nat. Par.-Teach., 54: 7-10, Mar. 1960. (Author: See No. 398.)

Claims that borrowing for a college education is a prudent act, with benefits for both the borrowers and the institutions of higher learning.

400. JOSEPHS, DEVEREUX C. College on Credit. Think, 25: 7-9, May 1959. (Author: Chairman of the Board, New York Life Insurance Co., New York.)

"The solution to the problem is clear and simple: Colleges should raise tuition fees to charge to the students the full cost of his education, and what the student or his parents cannot pay from past savings and current earnings they should borrow. After all, this is the decision that 70 percent of American families make when confronted with the purchase of an automobile. . . . The time has come for all of us to regard borrowing for an education as a sensible and natural act. For too long it has been regarded as slightly disreputable."

401. KEENEY, BARNABY C. Money Trouble in Colleges-and a Plan To Relieve It. U.S. News, 43: 100-101, Nov. 8, 1957. (Author: President, Brown University, Rhode Island.)

States that college students must pay higher tuition. To meet this added burden, suggests

a time-payment plan, paying part down and part from future earnings. "A college education is a capital investment, and should be financed in the same way as a factory or a house."

402. LEONARD, NORMAN; MEEK, PHILIP; and Ross, MICHAEL. Expensive Education on the Free Market. Jour. Higher Educ., 31: 215-218, Apr. 1960. (Authors: Faculty members, Ohio Wesleyan University.)

Reviews various methods of student financing, especially different loan plans. "The most

striking fact about present loan plans for students is that, on the whole, they are limited in one or a number of ways: excessive rates of interest, inadequate repayment periods, or restricted availability. The program with real possibilities of expansion is the Federal loan program; but because of its restrictiveness and the possibility of future controls, another approach is needed." Recommends an agency analogous to Federal National Mortgage Association.

403. LUDWIG, MERRITT C. Students Can Learn Now, Pay Later. Coll. & Univ. Bus., 27: 35-36, Oct. 1959. (Author: Vice President for Administration, Grinnell College, Iowa.)

"Grinnell College now offers its own learnnow, pay-later method of financing a college education which we call the Extended Payment Plan. Under this plan payment of 4 years' college tuition and fees may be extended over 5, 6, or 7 years." States details of the plan.

404. MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION. Higher Education Loan Plan for Massachusetts Students. Boston: The Corporation, Feb. 1959. 9 p.

Gives details of the Massachusetts Loan plan. Since Mar. 1957, 5,830 Massachusetts students have borrowed more than $3 million through the Corporation.

405. Massachusetts Higher Education Assistance Corporation. Higher Educ., 13: 173, May 1957.

Gives information on college student loan plan of the Corporation, incorporated in 1956. Plans to guarantee loans up to $500 per year to needy students made by banks in the State.

406. MONRO, JOHN USHER. Capitalizing on the Federal Loans for Students. Coll. Board Review, No. 37, 12-17, Winter 1959. (Author: Dean, Harvard College.)

"The new National Defense Student Loan Program confronts the American college and university community with a quite remarkable opportunity and some equally remarkable problems."

407. MOON, REXFORD G., JR. Who Should Pay the Bill? Coll. Board Review, No. 35: 21-24, Spring 1958. (Author: Assistant Director, College Entrance Examination Board, New York.)

Advocates that college financial aid should emphasize student credit rather than scholar

ships financed out of general increase. "The needs are clear, and the way to achieve their satisfaction are equally clear. Action is needed now to pay the bill."

408. A New Student Financing Plan. Providence, R.I.: Education Funds, Inc., 1960. 20 p.

Gives details of plan for financing from 1 to 4 years of college education, with insurance features for death or permanent disability of parent, and monthly repayment of loans made. Gives costs in each of 20 State and private colleges and universities.

409. New Ways To Finance a College Education: More Millions for Loans to Students. U.S. News, 47: 52-54, Aug. 17, 1959.

"Now, if you're short of cash, you can still go to college by borrowing. More loan money is available to students today than before. And more students are willing to borrow. It's an important new trend in education. . . . Four years ago loans to students, to finance college careers, amounted to about $40 million. Now $120 million. Ten years from now more than $1 billion a year will be borrowed to finance college educations." Outlines types of loans a student can get from (1) a college or university, (2) a bank, (3) a State agency, (4) the Federal Government.

...

410. ORMES, FERGUSON R. Wabash College Finds the Record Good on Repayment of Students Loans. Coll. & Univ. Bus., 22: 23-25, March 1957. (Author: Controller, Wabash College, Indiana.)

Based an analysis of record of past 30 years covering loans, chiefly for tuition, to several hundred students. "For this institution, final losses on student loans can be limited to about 5 percent, and 90 percent or more of money can be expected back within 5 years after the borrowers depart from college."

Maine Coll. &

411. PHILLIPS, CHARLES F. Loan Plan for College Students. Univ. Bus., 25: 34-35, Dec. 1958. (Author: President, Bates College, Maine.)

"Loans to college students through regular banking channels soon may play a major role in opening college doors to students of limited financial means. The Maine loan plan is patterned directly upon the proven plan that has operated successfully in Massachusetts for more than a year. The plan is based on two essential elements: a foundation that guarantees loans and the banks that actually make the loans." Reviews experiences in Maine and recommends interstate funds, e.g., one for all New England.