MS01.01.03.B02.F23.075

Harmon Foundation
Page 7

Operating under the principle that " a donation of money which
involves no corresponding exercise of initiative of responsibility on
the part of the individual or group receiving the benefit"#8 was not a
good investment, the Harmon Foundation established the Division of
Student Loans. Its purpose was to supplant scholarships offered by
American universities to young men and women pursuing a post
secondary education with a loan program administered in accordance
with strict business practices and ethics. It sought two major
results: (1) to allow students whose earning power was to be enhanced
by their education, an opportunity to be in a self-supporting
position instead of being "dependent on the semi-charitable practice
of scholarships," #9 and (2) to help institutions... "running in a deficit to balance their budgets by charging the educated the cost of
their training through the medium of deferred tuition obligations.#10
During the first four years in operation, the Foundation granted
3,200 student loans at 137 cooperating colleges and universities
amounting to $600.000.00 with an estimated loss of less than 2%
without regard to race. Here again, Brady kept a firm hand on the adm-inistration of each aspect of the program corresponding with college president, bursar and counseling which enabled her to
increase the breadth and width of her network
of contacts in educational institutions of higher
learning throughout the nation. She took great
pride in citing the numberof predominantly Black colleges that
benefited from this program.

Brady felt keenly that the Division of Social Research and Experimentation lived up to its title by developing programs in which there was the belief that high moral principles were the attributes of the ideal society. In
order to promote its own philosophy of improving upon the quality of
life through the practice of enlightened moral and ethical
principles, the Foundation made several motion picture films. The
films were designed to enhance the beauty of church service through