Colleges: Dream with a Deadline

Founded seven years ago by Louisville's Baptist churches, little Kentucky Southern College (843 students) has gotten high marks in educational circles. Its finances are something else again. Cut off from federal grants by Kentucky Baptist Convention policy, K.S.C. started the current school year on the verge of bankruptcy. Even severing its Convention ties did not help; a federal grant could not be obtained in time. The only alternative to receivership, said President Rollin S. Burhans, was to agree to a proposed merger with the University of Louisville.

K.S.C.'s students would have none of it. Hastily, they...

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