Higher Education

Speakers: David Baltimore, Nobel Laureate, Medicine, 1975; Robert Andrews Millikan Professor of Biology, California Institute of Technology Joel Burdick, Professor of Mechanical Engineering and Professor of Bioengineering, California Institute of Technology James Economou, Vice Chancellor for Research, University of California, Los Angeles Michael Quick, Executive Vice Provost and Professor of Biological Sciences, University of Southern California Owen Witte, Director, Broad Stem Cell Research Center, University of California, Los Angeles; Distinguished Professor of Microbiology, Immunology & Molecular Genetics, University of California, Los Angeles Moderator: Stephen Mayo, William K. Bowes Jr. Foundation Chair, Division of Biology, and Bren Professor of Biology and Chemistry, California Institute of Technology. Research in bioscience has been transformed in the last decade, becoming tightly linked to other fields ranging from chemistry, engineering and bioengineering to physics, nanoscience and applied sciences. The intersection of these core disciplines is leading to discoveries that have global impact. Universities are increasingly creating partnerships among these diverse areas to accelerate medical science and change how we think about treating complex health issues in the 21st century. Our panel of leaders in research will examine how these connections are being made and their salutary results.

Georgetown University’s Global Social Enterprise Initiative and the Milken Institute convened a roundtable discussion in March 2013 that resulted in recommendations for addressing needed changes in the structure, costs, and financing of higher education. Three challenges drive the need for change within the current landscape of higher education: • Increasing Tuition, Costs, and Student Debt • Changing Student Demographics • Growing Workforce Skills Mismatch Although participants largely agreed that traditional colleges and universities provide students with a valuable and meaningful education, most also believed that alternative higher education models should be promoted as viable and potentially more affordable options for providing students with skills they need to be competitive in the modern global economy. The purpose of the roundtable, held in Washington, D.C., was to provide a setting for a diverse group of stakeholders to exchange ideas, pose and debate differing views, and identify promising ideas to address these challenges. Ultimately, no silver-bullet solution exists that will reshape higher education and curb costs in a way that satisfies student, employer, and national interests. But positive change can result from the aggregation of a number of innovative ideas and initiatives. To this end, the roundtable yielded a number of observations and proposed next steps for improving the relevance and affordability of higher education in the United States.

Speakers: Gregory Cappelli, CEO, Apollo Group; Chairman, Apollo Global Gray Davis, Former Governor of California; Of Counsel, Loeb & Loeb LLP Ross DeVol, Chief Research Officer, Milken Institute Feridun Hamdullahpur, President, University of Waterloo Udeitha Srimushnam, Candidate, Master of Communication Management, USC Annenberg School for Communication and Journalism Moderator: Ernest Wilson III, Dean and Walter H. Annenberg Chair in Communication, Annenberg School for Communication and Journalism, University of Southern California. What region wouldn't want to become the next Silicon Valley or Research Triangle? It could be within reach with the right public policy and investments in higher education. An educated workforce is a fundamental factor in determining the economic performance of regions around the United States. But other advanced nations are ahead of the U.S. in the level of education among young adults. Our panel will discuss how to address this and more. What actions should be taken by policymakers, educators, business executives and civic leaders? How can we make education more accessible and affordable, increase graduation rates and strengthen coordination between industry and institutions of learning? What strategic educational investments would improve regional and national competitiveness, and what occupations would bolster the economy most in the 21st century?

Speakers: William Bennett, Former U.S. Secretary of Education; Author, "Is College Worth It?" Steven Knapp, President, The George Washington University Daphne Koller, Co-Founder, Coursera Inc. Patricia McWade, Dean of Student Financial Services, Georgetown University Anthony Miller, Deputy Secretary and Chief Operating Officer, U.S. Department of Education Moderator: John Nelson, Managing Director, Public Finance Group, Moody's Investors Service. Student debt surpassed the $1 trillion mark in 2012 and now is the second-largest category of household debt behind mortgages. Default rates exceed those of credit cards, and college tuition and fees have been rising even faster than health care costs. At the same time, employers are seeing a mismatch between their needs and the qualifications of those in the labor pool. This incongruity threatens to derail productivity and economic growth, raising serious questions about national competitiveness. Given this backdrop, how can the American higher education model fulfill the learning, affordability and job-preparation needs of students? What role can colleges and universities, online technology and government play in setting higher education on the best possible course?

When it comes to education, a rising tide really does lift all boats. That's one of the conclusions of this sweeping research report. Ross DeVol, chief research officer and one of the report authors, explains: "Our research makes a compelling case that for America's communities, the returns to investment from higher education have never been greater. We pinpoint the value regional economies gain by adding better-educated workers and show that, as those around you obtain more education, their wages rise – and yours do, too." While it's intuitive that an educated population, good jobs, and prosperity go hand-in-hand, this study proves the strong relationship between education and a region's economic performance. Institute economists created a unique data set linking educational attainment and occupational trends over time and by region. The report and the accompanying data site not only provide a blueprint for policy makers and leaders to boost education: they can help career seekers figure out where they can get the most bang from their educational buck. Key findings of the study include: • Education increases regional prosperity. Adding one year to the average years of schooling among the employed in a metropolitan area is associated with an increase of real GDP per capita of more than ten percent, and an increase in real wages per worker of more than eight percent. • Better educated = bigger benefits. The better educated the worker, the greater the benefit of additional schooling, to both the worker and the region. Add one year of college to a region's workforce, for instance, and GDP per capita jumps 17.4 percent. • Clusters count. In metros with clusters of high-skilled occupations, the share of workers holding at least a master's degree is much higher than in metros without significant clusters, perhaps because of the intense competition for employment. The implications of "A Matter of Degrees" for policy makers, community leaders, and educators are extensive. The findings provide a compelling argument for strategic investments in higher education to enhance regional economic competitiveness – and by extension, U.S. competitiveness overall. The report's key policy recommendations for governments, educational institutions, and businesses include: make higher education more affordable and accessible; increase higher-education graduation rates; and strengthen coordination between industries and higher-education institutions.