Funding for research is complicated by the uncertain future of federal grant money and the increasingly complicated government regulations.

And finally, they say, the Corporation wants to insure all students access to Harvard. This means providing adequate levels of financial aid, but some Fellows believe that as tuition rises, even though Harvard still offers complete and to anyone who needs it, some qualified but poor students may simply decide not to apply.

Fellows are also worried that financial considerations are beginning to influence students' career choices. In his Baccalaureate address Tuesday, Bok urged students to consider public service work and not simply "take the money and run." Some Corporation members are even considering forgiving debts for students who enter low-paying public service careers. "I think those debt loads are sufficiently large that they affect the career choices that people make, and I'm sure they affect people's family planning," says Calkins.

Except for the president, none of the Corporation members are paid. The job requires a heavy time commitment--the board meets for most of the day every other Monday--but the members say the pride of helping Harvard makes it worth it.

"One of the reasons I became a lawyer in the first place is because it is easier to combine a private practice type of career with doing other kinds of things," says Calkins. "I have done it because I enjoy it and I want to make some contribution to an institution which is important and I get a certain sense of satisfaction out of it. It is not a financially rewarding thing to do but is rewarding in other respects." Heiskell cites similar reasons for serving but pauses and adds with a chuckle, "I admit I've enjoyed it, but sometimes I wonder why I do it and so does my wife."

These articles were reported by John F. Baughman, Camille M. Caesar, David S. Hilzenrath, Peter J. Howe, and David L. Yermack.