Support for Education

The Council for Financial Aid to Education, an organization formed last month to stimulate industrial and business support of the nation’s colleges and universities, will serve as an advisory body and central agency for such programs, according to Frank W. Abrams, chairman of the Standard Oil Company of New Jersey, who is one of five industrialists heading the Council. Pointing out that “corporations pay the colleges little or nothing for training the personnel which they now eagerly recruit each June,” he called for a better understanding by business and the public alike of the contributions made by higher education to the growth and development of industry. Mr. Abrams, who addressed a group of educators at the 13th Annual Forum of the Tuition Plan in New York City last month, added that industry and business would be among the first to be adversely affected by any decrease in the number and quality of privately endowed educational institutions. Other members of the new Council include Irving Olds, former board chairman of the U.S. Steel Corporation, Walter Paepcke, chairman of Container Corporation of America, Henning W. Prentis, Jr., chairman of Armstrong Cork Company, and Alfred P. Sloan, Jr., chairman of General Motors Corporation.

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