Education: Courageous College

The future never looked darker for the business of U.S. higher education (see col. 1). So the obstinately optimistic citizens of Portland, Ore. (home of one of Henry J. Kaiser's miraculous shipyards) thought it was just the time to launch moribund little Albany College on a bigger career with a new name, new president and fantastically lush new campus.

The new college owed its life to a real-estate bargain. Last spring 75-year-old, coed Presbyterian Albany College seemed to be on its last legs. It had lost its accredited standing, was rapidly withering away in two downtown Portland buildings. Then trustees heard that...

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