Fiscal issues in higher education are considered, based on four conferences attended by academic and business leaders. After an initial conference of college and life insurance company presidents at Princeton University in 1978, three regional meetings were held in Greensboro, North Carolina; Kalamazoo, Michigan; and Boston, Massachusetts. Influences and trends in higher education today are briefly noted, and the key fiscal issues are considered. There is agreement that the fundamental problem is inflation and that it will not go away. The academic side is hit more severely than business, where increased costs can be passed on to the consumer. College budgets and declining enrollments are key fiscal concerns. The growing power of the government in higher education, the absence of a coherent policy, and the cost of compliance are noted, along with the relationship between public and private education. The situations in the midwest, northeast, south, and west are considered. It is suggested that new styles of leadership are gradually developing in both business and academe, which is heightening the similarities and diminishing the differences between them. Ways that business can help educational institutions are considered in relation to expertise, an alliance for public policy, corporate grants, and exchanges. Steps colleges can take include the following: define the mission of the institution, examine the strategies of business, develop strategies to counter the demographic trend, and exert pressure on the government to modify tax laws. A list of conference participants and agendas are appended. (SW)