Flunk Insurance

At Providence (R. I.) College last week a group of business-minded seniors hatched a new kind of academic security. They formed the Students' Protective Insurance Co., will begin next semester insuring undergraduates against scholastic failure. Premiums will range from 50-c- for freshmen to 35-c- for seniors. For the student who fails, the company will pay college make-up examination fees--$2 for the first try, $5 for the next two. The company will give policyholders tips on how to pass.

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