In order to fill the 171 new community colleges opened between 1965 and 1970, more teachers are needed - especially innovative teachers who put student success in learning first. To meet these needs, community college leaders are seeking the support of colleges and universities, accrediting agencies, professional organizations, and government for a major investment in the creation of the Masters College Program for the education and training of junior and community college teachers. This study documents findings regarding the merits of the plan, the viability of its distinctive features in relation to one another, the accuracy of the premises used in designing the projected program, the prospects for funding the establishment and operation of Masters College centers, and their location and organization. (HS)