Transcript Another Way to Win Challenges, Options and Choices in Post Secondary Education Michael J.

Another Way to
Win
Challenges, Options and Choices in Post Secondary Education
Michael J. Cooney
Chair
Wisconsin Educational Approval Board
Higher Ed Brief:
Accessibility
40% of college freshmen need remedial work
Affordability
Increased need-based aid and simpler applications
Accountability
Voluntary reporting of cost, quality and outcomes
Accreditation
What is the role, function and future of accreditation
Articulation
When and how should credits be transferred?
Global Recession Looms
Economist
Recession is here, economist declares
Boston Globe
Recession here we come
LA Biz Observed
U.S. Jobless Rate Hits 14-Year High
New York Times
Working Poor and Young Hit Hard in
Downturn
New York Times
Steep food price increases on way,
rise by 7% in 2009
Reuters
Training needs rising to fill technical jobs
Unlimited need for skilled workers
Theadvocate.com
When The Economy Cools Off, Seats In Private
Colleges Fill Up
Business Week
OPPORTUNITY FOR THE
CAREER COLLEGE
SECTOR
?
TAILWIND: Weakening economy and job markets
Enrollment growth tends to be stronger in tougher economic periods.
For the previous five quarters, aggregate enrollment growth for the
Publicly Traded companies has averaged about 12.5% and is on
pace to grow about 14% this quarter—a three year average of
less than 9%.
Stifel: Education - Postsecondary Snapshot
HEADWIND: Challenging student funding environment
No significant impact to date
Direct Loans have increased to $10.84 billion with 1,156 colleges
participating as of September 2008
However:
The Pell Grant program is facing a shortfall
that may reach $6 billion.
Headlines reveal the current state of Higher Education
The New Realities of Paying for College
Tough Times Strain Colleges Rich and Poor
Double-digit tuition increases sough
Colleges Consider Tuition Increases to Offset Endowment Losses
Grants, Scrutiny for Veterans Education
Colleges Struggle to Preserve Financial Aid
Students Make Seek More Loans as Savings Dwindle
U.S. Buying More Loans to Students, Cost-Wary Students Turn to Community Colleges
Does It Matter Where You Go to College?
Tight money boosts community college enrollments
A Coming College Bubble?
Could independent colleges
be the next bubble?
Many face threats to solvency
as students seek cheaper options
MSNBC
College for All
The Real American Dream
College for All
The Real American Dream
Is College for All the Answer?
70%
National High School Graduation Rate
80% in Wisconsin
52% in the nation's 50 largest cities
America's Promise Alliance
College for All
90% of high school seniors expect to go to college
70% expect to work in professional jobs
67% of high school seniors go on to college
50% finish college in five or more years,
many with unproductive degrees
Thus 50% fail –
No skills / No degree
Plus, most all have student loans
Projections of Education Statistics to 2017
The number of bachelor's degrees awarded each
year will increase by 16% from 2005–06 to 2017–18.
National Center for Education Statistics
Billions spent on re-teaching basics
The cost of remediation in public colleges exceeds
$2.5 Billion every year, and some of the most motivated
students require remediation—nearly four out of five
remedial students had a high school grade point average
of 3.0 or higher.
Diploma to Nowhere from Strong American Schools
Generational gains in higher education
at standstill
For the first time, young adults are at risk of finding
themselves less educated than previous generations,
and the gap widens when broken down by race.
Among Hispanics, 18 percent of elders have at least
an associate’s degree compared to 16 percent of
younger Hispanics.
College for All
ROIC?
Return on invested capital
Graduate, Employer, Family, State, Society
Skills for All
Skills for All
• Relevant education
• Shorter training periods
• Work ready graduates
• High performance degrees that can’t
be exported
• Ready to build the “enterprise value” of the
company.
Skills for All
“The income for the top people in a wide
variety of occupations that do not require
a college degree is higher than the average
income for many occupations that require
a BA.”
Real Education
Charles Murray
Skills for All
“There has never been a time in history
when people with skills not taught in college
have been in so much demand at such high
pay as today, nor a time when the range of
jobs has been so wide.”
Real Education
Charles Murray
Skills for All
How do we Close the Gap
between
Public Beliefs,
Educational Outcomes
and
Employer Needs & Expectations?
Skills for All
ROIC
Everyone is a winner
Graduate, Employer, Family, State, Society
The Career Educator’s Challenge
The Value Proposition in
Today’s Economy
The Career Educator’s Challenge
The Value Proposition in
Today’s Economy
Do your graduates get
jobs?
The Career Educator’s Challenge
Going forward, our future is totally dependent on
Total Student
Engagement
The Career Educator’s Challenge
Going forward, our future is totally dependent on
Superior
Graduate
Outcomes
EAB
State of Wisconsin
Educational Approval Board
Improving Students’ Lives by Ensuring Schools are Effective
40,000 Students
152 Institutions