Education: Passing the Hat

Raising money for scholarships is usually a laborious routine, but four undergraduates at small (1,700 students) Albion College in Albion, Mich., have managed to rake in a sizable amount and enjoy themselves in the process.

"We acted as if we didn't know what we were doing," says Bill Healy, 21, an economics major. "Our stationery was cheap and looked awful. Our calling methods were rather blunt—just plopping ourselves in the business offices of alumni."

One stockbroker gave Healy a discourse on the evils of money and told him that God would take care of Albion's finances. Other meetings were more lucrative. One of...

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