The legislature hereby declares that the provision of post graduate education for persons who desire such an education and are properly qualified therefor is important to the welfare of this state and nation; qualified college or university graduates are frequently deterred by financial considerations from entering into and completing post graduate education, with a resulting severe loss of talents vital to the welfare of the state and nation; and the awarding of fellowships and scholarships for highly qualified graduates of colleges or universities has served in the past, and will serve in the future to alleviate the foregoing problem.