For the past several years bills have been introduced in Congress which would make available funds to colleges and universities without involving any of the centralized control that many feel accompanies federal grants. The process is very simple. It is a tax credit for gifts. Every individual taxpayer would be permitted to give to the college of his choice, for example 10% of what he owes the federal government for income tax, or $100, whichever is smaller. Most of the bills would also allow corporations to give up to $5,000 under a similar formula.