NEW YORK (Jul. 10)
Yeshiva University has received an initial payment of over $200,000 from the Ford Foundation to be utilized for faculty salary increases. Dr. Samuel Belkin, president, described the grant as “the most significant development by foundations and American industry, in their respective programs of support to higher education.”
“It is highly encouraging to witness industry’s gradual realization of the vital role it can play in investing in the future of our nation through the training of young people,” he said. “The Ford Foundation, in particular, is to be commended for demonstrating its understanding in an area often neglected by friends of higher education–namely, in making provision for the maintenance needs of an institution, such as faculty salaries.”
“Educational institutions have been affected deeply by rising costs to the point that any further increase in tuition or other fees to offset increasing operational costs would only remove higher education from the grasp of our youth,” Dr. Belkin pointed out.
The Ford Foundation is the fifth major American corporation to grant allocations to America’s first university under Jewish auspices. In recent months, Yeshiva University has received grants from the Colgate-Palmolive Company, General Motors, Standard Oil of New Jersey, and U.S. Steel, Yeshiva University is spending $500,000 during the current academic year to provide scholarships for 1,600 students, or 75 percent of its enrollment.