At the feast of philanthropy spread for U.S. colleges each year by the nation's business firms and foundations, the 130 nonaccredited small colleges are so far below the financial salt that most of them do not know what it tastes like. The viciously circular problem: to be eligible for most grants, colleges must be accredited, but to be accredited, they need grants that bring faculties, libraries and classroom buildings up to the levels required by the nation's six regional accrediting associations. Two years ago several of the fund-starved colleges pooled their problems (TIME, March 5, 1956), formed the Council for the...
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