Areas of corporate concern about the current state of education are discussed by the chairman of the Council for Financial Aid to Education, along with suggestions on how corporate executives and academics can deal with these concerns. In addition to greater mutual respect between business and academia, there has been an increase in corporate financial support to education with less red tape or fear that accepting corporate money, especially research grants, will infringe on academic freedom. Crucial social issues on which business and academia can cooperate to find solutions include: improving the quality of primary and secondary schools; improving the educational choices and opportunities of minorities; determining whether four-year colleges can better prepare graduates for business careers, without compromising academic standards or distorting curricula; and restoring the importance of the humanities and liberal arts in college curricula. Business can encourage students to study the liberal arts by hiring more liberal arts graduates. Colleges also have an important role in helping to bridge the gap between the needs of the business world and the qualifications of a liberal arts graduate. College teachers could learn more about business and how it operates, and colleges could do more to encourage students to stay as broad as they can for as long as they can. (SW)