Reasons why corporations should support colleges and universities are suggested by the head of both the General Foods Corporation and the Council for Financial Aid to Education (CFAE). Higher education faces three crucial problems: the decrease in federal funding, especially student financial aid; decreasing enrollments; and probable decreasing support to higher education in the future. Business faces the opportunity to regain public confidence by helping society cope with adjustments resulting from federal funding cuts. The President's Task Force on Private-Sector Initiatives was established to promote private assistance to meet community needs. A Business Roundtable has recommended that company officers offer visible support and leadership for corporate involvement and encourage voluntarism among the employees, as well as strengthen the company's contributions and/or public affairs budgets. CFAE's annual survey of corporate support indicates that the average for giving to higher education historically has averaged around .35 percent of pretax net income. Because of the drop in corporate income, the average rose to .49 percent of pretax net income in 1981. General Foods Corporation is targeting 45 percent of its philanthropy to higher education and nutrition and food sciences education. (SW)