Able and needy students, so the story goes, are the sole beneficiaries of the nation's $100 million annual college scholarship kitty. Last week this legend got a hard bounce from John L. Holland, research "director of the National Merit Scholarship Corp., biggest dispenser of private scholarship money in the land. In College and University, Holland argues that too much money is going to conformists with little creative talent and often enough money already.
Holland and his associate, Laura Kent, say that one-third of all college scholarship money is controlled by 50 prestige colleges, which...
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