EXHIBIT V

[From Occupational Outlook Quarterly, September 1962]

LATEST INFORMATION ON SCHOLARSHIPS IN THE SPACE AGE

(By S. Norman Feingold 1)

Education and the pursuit of excellence are no longer luxuries but necessities. It is important that young people have the opportunity to continue their education as long as necessary to develop their abilities to the fullest so that they can attain personal fulfillment and make significent contributions to our society in this age of increasing complexities. To assist students in reaching these goals, there is a great need for both aid funds and accurate and timely information about the many and rapidly increasing sources of financial assistance.

Nearly 4 million young people are now attending college, and the number is expected to reach 7 million by 1970. While thousands of students are receiving financial aid. in the form of scholarships, loans, or part-time employment, additional thousands of young people with the ability and desire to continue their education forgo higher education for financial reasons because they do not know about the various sources of assistance that may be available to them. This results in a considerable loss each year of the educated abilities of gifted and needy young people. Many new local and national scholarship funds have been established since the first article on "Scholarships in the Space Age" was written for the Quarterly 4 years ago.

Last year, more than $130 million in scholarship assistance was awarded by colleges, universities, foundations, fraternal organizations, labor and management groups, and others. In addition, more than $100 million is being awarded in educational loans annually, primarily through the National Defense Education Act. In the academic year 1961-62, more than 1,450 colleges had established National Defense Education Act programs on their campuses. Over 150,000 students borrowed a total of $71 million made available under the National Defense Education Act; nearly all borrowers indicated that the availability of a student-aid loan made it possible for them to start or continue full-time college studies.

Although student aid for talented youth has become a top priority project, there still remain two serious problems:

(1) Student-aid funds today are still insufficient. At the present, $750 million in scholarships alone is needed annually. Various studies indicate that inadequate resources are the largest single reason why many able high school students do not attend college.

(2) Young people lack accurate information on student aid at crucial periods in their careers. It is very important that students be informed of the many different kinds of aid available, since a certain type of assistance may be more useful at one stage of a person's education than at another.

It is never too early to make information on student aid available to young people who have the ability and desire to further their education, especially to those at an economic and cultural disadvantage. Too often information about student-aid funds is given so late in high school that it does not reinforce students' motivation for further schooling.

Some student-aid funds do not get as many applicants as they should. For example, recent research revealed that of some 6,200 young Hoosiers eligible for war orphan scholarships available through the Veterans' Administration, only 430 (or 7 percent) had applied for educational assistance. In another local group of more than 500 people, where 90 percent of the group's children were eligible for a specific local scholarship, less than 5 percent knew that the fund existed or that their children were eligible. It is very important that parents, teachers, and counselors have as much information as possible about available funds and that they encourage qualified young people to apply for them.

Dr. Feingold, national director of the B'nai B'rith Vocational Service with headquarters in Washington, D.C., is the author of the four standard reference volumes in the series entitled "Scholarships, Fellowships, and Loans," and editor of the "Counselor's Informa

TYPES OF SCHOLARSHIPS AND LOANS

In the last few years, there has been much confusion as to what the word "scholarship" really means. Typically, a scholarship is awarded to enable a financially needy and qualified student at the undergraduate level to help close the gap between his financial resources and the total cost of further education for a specified period of time. Not all scholarships, however, are based solely on financial need or scholastic achievement. In a number of instances, conditions of eligibility for scholarships limit scholarship grants to those who in addition fulfill special personal requirements which may relate to place of birth or residence, membership (by student or parent) in certain groups or organizations, or similar qualifications.

Scholarship awards fall into three principal groups-general, regional, and special. General scholarships are usually available to any qualified candidate regardless of residence, religion, race, or contemplated course of study. Such scholarships include those awarded by the National Merit Scholarship Corp with headquarters in Evanston, Ill. An interested person may be placed on their mailing list to receive future scholarship announcements by writing to them on school stationery.

Regional scholarships require that recipients be from a certain school or from a particular region. The area may include a number of States or it may be limited to a small town. For example, awards from the C. M. Gooch Foundation for Educational Advancement are limited to young people from western Tennessee, northern Mississippi, and eastern Arkansas. On the other hand, the John McIntire Trust gives financial aid only to residents of Zanesville, Ohio. Special scholarships may be restricted to qualified candidates of certain ancestry, religious faith, place of employment, vocational goal, specific organiza tion membership, and so forth. Other special funds may require recipients to study certain subjects, especially engineering, mathematics, or science. It is hoped, since we are in a rapidly changing era, that more and more new funds will be created without rigid qualifications that may in time make their objec tives obsolete.

Scholarship awards range from as little as $10 to as much as $2,500 or more per year. Most awards are for less than $500. The average scholarship award from private funds is slightly higher than the average for those provided by colleges or universities. In many instances, scholarship recipients find it neces sary to get aid from more than one source.

Educational loans assume many forms. They vary from costly commercial loans to those that eventually may become outright gifts. Loans are most fre quently given on the basis of ability and need, but academic qualifications are not ordinarily as high as for scholarships. A young person who cannot obtain a scholarship may well consider the advantages of an educational loan rather than forgo a higher education.

The increase in educational loans has been one of the most striking develop ments of the student-aid picture during the past 5 years. A number of colleges now give more in loans than in scholarships. But many colleges still have more applicants for student loans than they can accommodate.

DURATION OF AWARDS

Although there is wide variation, most funds do not grant help for more than 4 years. A number of private funds limit the total amount of loans to a maximum of $1,500. Some funds give awards for 1 academic year at a time and re quire that recipients report their progress and maintain certain academic standards in order to qualify for the second year. Many private funds give an award for one semester's work and renew the grant each semester if the recipient continues to meet the required standards. This type of scholarship encourages the recipient to give his best performance and thereby to attain higher grades.

NEED AND GOOD GRADES COUNT

The term "financial need" as generally used today may be simply defined as the difference between the actual annual cost of attending a specific college and the amount of money that the student and his family are able to provide. Most scholarships specify both need and good grades as necessary qualifications. Many also require that students do well on certain tests. There are wide varia

ators believe that families should be able to provide 15 percent of their gross come for a child's education. Many of the lowest income families that send heir children to college do in fact contribute 15 percent and more. Obviously, family with an annual income of less than $5,000 can send a child to college nly with great sacrifices. A family should start early to earmark the portion fits income needed for children's schooling.

Up to a few years ago the administrators of many private funds, in deciding etween two equally qualified candidates or even where one applicant was somethat superior scholastically, chose in most instance the person whose financial leed was greater. At present, a number of private funds are no longer spending o much time trying to equate the differences in need and income, if the need is elf-evident. This is a step forward since formulas presently designed to indiate the existence of need cannot be used to differentiate among applicants from very low income families, all of whom may have a maximum need and approxinately similar academic qualifications. Need formulas, however, do attempt o take into consideration total income of parents and students, size of family, number of children in school, and other family responsibilities. Additional information on how financial need is determined may be obtained from the College Entrance Examination Board in Princeton, N.J., the "Scholarships, Fellowships, and Loan News Service" published by Bellman Publishing Co., Cambridge, Mass., or the National Merit Scholarship Foundation in Evanston, Ill.

SOME PRACTICAL SUGGESTIONS

Although many colleges provide student aid to between 20 and 30 percent of their students, scholarships and educational loans are not so easy to get as some young people and their parents think. The cost of college tuition has been rising at the rate of about 10 percent annually since 1959. In that year fees for a single student averaged $1,550 and ranged from less than $500 to $3,450. Therefore, greater effort is called for to obtain a scholarship or other form of educational financial aid.

Most college-controlled scholarship funds-altogether amounting to approximately $100 million annually-are held by a small group of private colleges. Three percent of all colleges in the United States control more than one-third of all scholarship funds. Most of these institutions have high tuition charges, so that even with scholarship help the recipient may have to pay more at one of of these schools than at a State or other lower cost educational institution. One source of information on the number and amount of scholarship awards of various colleges is the College Life Insurance Co., of America, Indianapolis, Ind. With more than 325,000 scholarships awarded annually, students, parents, and teachers may well need guidance in selecting the one for which the applicant qualifies best and which is most advantageous to him. Here are some guidelines for such action:

(1) Since student-aid planning for many boys and girls is a crucial part of carrer planning, it is essential that parents, teachers, counselors, and students know as early as possible the requirements of various scholarship funds at the local, State, and National levels. Any student-aid program will be more effective when there is frequent communication between colleges and secondary schools concerning college admission practices and student financing arrangements. Many libraries do not have an adequate scholarship file. It is vital that even the small library have current and accurate information available on local scholarships and at least one or two standard student-aid directories. The librarian, counselor, and teacher can do a great deal to see that the scholarship file is up to date and that information reaches young people so that action can be taken at appropriate times.

Students should know how to write an adequate letter of request for application forms, and how to fill out a scholarship application accurately and neatly, because forms are often used as a sceening device. Applications should be filed and required tests taken well ahead of the deadline. Many colleges now require that applications be filed early in the senior year of high school; other schools with later deadlines generally give priority to early applications. If an interview is required, good grooming and ready answers to questions on personal data may tip the scales in an applicant's favor.

(2) A primary source for scholarships is the college, technical school, or university itself. A student needing financial help should write for the school's student-aid announcement, bulletin, or directly. Some institutions issue pub

lications which contain detailed information about the funds available; for example, the University of Michigan in Ann Arbor which awards many scholarships, issues a free 152-page student-aid directory. To apply for student aid at colleges that are members of the College Scholarship Service, a nationwide serv ice, one should write the College Entrance Examination Board, Princeton, NJ. (3) Applicants should not fail to investigate local sources of scholarships which have grown considerably in recent years. Too often talented young people miss educational opportunities available in their own communities. Hundreds of communities now have directories of scholarship funds that are available locally; cities that have published such directories for many years include Buffalo, Chicago, Cincinnati, Cleveland, Philadelphia, Minneapolis-St. Paul, and Worcester (Mass.). Washington, D.C., and Baltimore, Md., are now in the proc ess of compiling such directories. In smaller communities, service organizations and women's groups have been particularly active in compiling scholarship data. For example, all field offices of the B'nai B'rith Vocational Service have compiled local scholarship information. Many high schools maintain a list of scholarships and loans for which their students may qualify, and some high schools set up their own scholarships.

Local directories have been compiled through National Defense Education Act support, and a rapid growth of State directories is evident. Maryland, Alabama, and California, to mention a few States, have compiled lists of scholarships available to residents. The largest numbers of State scholarships are offered by New York and California.

Today there are many local and State sholarships specifically for the physi cally handicapped, particularly scholarships administered by State offices concerned with vocational rehabilitation in cooperation with the U.S. Department of Health, Education, and Welfare.

The growth of privately administered local scholarship funds all over the United States continues at an accelerated rate. Some of these new funds may not be listed in a local directory, but information may be available from local service groups such as the American Legion, B'nai B'rith, the Daughters of the American Revolution, Eagles, Eastern Star, Elks, Exchange Clubs, Kiwanis, Lions, Masons, Optimists, Parent-Teacher Associations, Quota, Rotary, the United Daughters of the Confederacy, and from private firms. A most unusual program of local scholarship help is that sponsored by Kiwanis in Quincy, Ill.; information about this program will be sent if it is requested on official school stationery. (4) Students and their parents, as well as teachers and counselors, will find it helpful to study student-aid books and directories thoroughly, since these contain much information that may help make a technical or college education possible. Some high schools and colleges have student-aid newsletters written by staff members and some also have a scholarship coordinator.

The great volume of scholarship information that appears in local or national newspapers day after day can benefit many students if the school maintains a clipping service. Magazines also lists scholarships available in particular fields of work and these may be helpful to the student who has made a tentative career choice; examples are American Arts, Art News, and Art Digest.

(5) Industrial scholarships are increasing rapidly on local, State, and National levels. Funds are often available from concerns for which parents of students or the students themselves work. Many young people have found that working part time during the school year or during the summer has made them eligible for student aid from their employer.

(6) Tuition-refund plans should not be overlooked in the quest for financial aid. Thousands of business concerns have such plans for both employees and employees' children. The number of refund plans has increased noticeably since the National Industrial Conference Board issued the report "Tuition-Aid Plans for Employees" in 1956. Under this type of plan, a company may pay the full tuition or pay for only part of a course.

Colleges from their early existence have had arrangements whereby children of teachers and professors are given a rebate of tuition or other advantages if they attend the college or university where a parent is employed. The Tui tion Exchange Program at Williamstown, Mass., arranges reciprocal scholarships for the children of faculty members of 200 U.S. colleges and universities.

"Scholarships, Fellowships, and Loans News Service" supplies up-to-date information about scholarship and student-ald opportunities. A free sample of this publication may be

(7) Labor unions take an active interest in student aid. Through the combined efforts of the AFL-CIO and the land-grant colleges, a national conference on student aid was recently held in Washington, D.C. A number of unions now have scholarship aid available to their members or sons and daughters of members or to others who apply. Many of these aids are given upon successful participation in contests; others are based on ability and need. Local unions often have information about national and local union scholarships for which students may qualify. Information about union scholarships may be obtained by writing to the AFL-CIO, 815 16th Street NW., Washington, D.C.

(8) The War Orphans Educational Assistance Act, administered by the Veterans' Administration, will continue to open the way to higher education for many young men and women. Children of veterans are eligible for 36 months of schooling if the death of a parent (who was a veteran) was attributed to injury or disability incurred in wartime service or, in some cases, in hazardous peacetime service. Survival of the other parent does not affect eligibility. Although most students enrolled under this program pursue college studies, eligible children may also take training in business and vocational schools. Under this program, full-time students ordinarily receive $110 per month. Generally, students must be from 18 to 23 years of age; but in exceptional cases, earlier or later use of the benefits is allowed. Further information about this program may be obtained from the nearest VA regional office.

(9) A number of private veterans' organizations provide scholarship and loan funds as well as up-to-date information. Local representatives of the American Legion have done a remarkable job in letting students know about scholarships, particularly those offered by the organization and its auxiliary. A copy of "Need a Lift?", a gold mine of information on student aid, may be purchased for 25 cents from the American Legion, Education and Scholarship Program, Post Office Box 1055, Indianapolis, Ind. This publication provides extremely valuable information about funds available at local and national levels for veterans and their families, as well as counselors and teachers.

(10) Most religious groups have increased their student-aid funds in recent years. National agencies sponsored by various faiths often have local and national information available, as do many clergymen. Some colleges provide catalogs which list many student aids for people of different faiths. A number of colleges have specific funds for the children of clergymen.

(11) Many student-aid funds are directed toward helping young people who work part time while in school or full time during vacation periods. Some funds require that recipients of their scholarships earn certain amounts during the summer months.

Many students hold part-time jobs on or off the campus during the school year. At a number of schools, as high as 75 percent of the students work on a parttime basis. Harvard University has a plan to advise and help students in starting small part-time businesses to help meet college expenses.

(12) Students may win awards by entering contests. Most of these contests are open to young people whose parents have incomes large enough to exclude them from student aid, but who feel the need of supplementary funds in order to send them to college. Even if a student does not win an award, entering such a contest provides a good opportunity to test his talents and abilities in a competitive situation. Information on contests approved by the National Association of Secondary School Principals may be obtained by writing to that organization at 1201 16th Street NW., Washington, D.C.

(13) Administrators of many scholarship funds give preference to students who have a wide range of interests rather than to those who excel only in their studies. More and more privately administered scholarship funds are requiring applicants to write an essay on their educational and vocational plans for the future. Administrators of a number of these funds favor young people who take part in extracurricular activities or have worthwhile hobbies. Voluntary participation in community activities can be particularly helpful toward achieving a scholarship award.

(14) A student should check to see if he may qualify for one of the unusual scholarships. His name may have to be Anderson, Leavenworth, or Murphy; or he may have to have been born in a particular location; or he may have to show a reputation for truthfulness; or belong to a particular club; or work for a certain concern. The terms established by some highly restrictive funds have been moderated under the legal doctrine of "cy-pres" (reaching a decision