HIGHER education in the United States today is richer than ever before in its history. Faculty salaries have been rising faster in the last ten years than wages and salaries generally; and undergraduates have an ease of access to expensive equipment undreamed of fifteen years ago. At the same time, we hear loud laments, from even our richest private universities, that they are increasingly hard pressed and that unless large additional sources of aid are uncovered in the future they will be in danger of a severe deterioration in quality if not total collapse. In order to stave off such disaster, it is argued, the federal government must embark on expanded programs of institutional aid.