“In a time when the public has lost confidence in many institutions, including our government, American higher education continues to garner praise for its quality, its achievements, and its stature,” Molly Corbett Broad said.
This was the main message that rang through the
“In cities across the country including, of course,
“Colleges and universities continue to be seen as credible institutions, places of opportunity and big ideas; institutions that are here to serve others, to teach, to empower, to mentor, to solve problems,” Broad said.
Broad stressed that this is crucial at a time when resources are dwindling; public trust and support for the future determines available sources for colleges and universities.
Broad addressed that today’s economy has placed strain on the university system, its students, and their families. Universities are facing budget cuts and reductions in donations and investments. Faculties have fewer resources and face cutbacks; there are declining numbers of tenured professors and more part time staff in the university system.
Students are being offered less assistance and fewer resources yet having to find ways to pay rising tuition as college savings accounts’ values decrease and student loans become harder to obtain.
Students’ families are dealing with job losses and decreasing values of homes, freezing their line of credit.
Economic changes challenge universities to develop individual and resourceful leaders. They are needed to “question our nation’s capacity to build social and cultural consensus and form new compacts between higher education and government,” said Broad.
The economic landscape that universities are functioning in has changed drastically. Globalization has changed our economic geography in the past few decades. The fall of the Berlin Wall and creation of independent states from the Soviet Union caused trade barriers to fall in addition to diminishing trade barriers in China and elsewhere. These occurrences added 3 billion consumers to the world trade market Broad quoted from reports.
The population and reach of universities is also globalizing. Student mobility has increased and programs and institutions are building overseas, especially in Asia and the
Broad cited the most powerful force in the economy today is human capital. The economy of the mid 20th century was 65% low skill jobs; today’s economy is composed of 65% high skill jobs. This supports the growing dependency on human intellectual capital as
Broad wants people to frame higher education as a long term investment. She gave statistical evidence to prove the rate of return on higher education is significantly high and enough to cancel than the opportunity cost of wages earned in addition to dependency cost while in college.
“No one moves up from the loading deck to the corner office anymore,” Broad said quoting a fellow education academic, “educational attainment determines access to learning and technology on the job.” There is a direct correlation between education and life long learning or educational access.
In 1967, 70% of those with a high school diploma were part of the middle class; in 2005, 50% were in the middle class with the other 20% dropping to lower income classes according to statistics Broad cited. In
To increase the number of college educated employees, the discrepancy of educational attainment by class and race must be solved. With whites projected to be a minority of the
Colleges and universities are also going to have to find ways to educate a growing population of grey-hairs at a time when college age students’ numbers are stagnant. It is beneficial to encourage those not wanting to retire at 56 to maintain or gain education and continue productivity in a workforce that is seeking skilled employees said Broad.
Broad stressed the critical situation Americans face today; the American Dream is in danger of being lost. “The American Dream, in which each generation will be better off than the generation of its parents is at its tipping point,” Broad said, “we now risk older generations having higher level of educational obtainment than younger generations.”
Though the speech took place on a dreary morning, it seemed miles away from the bright crowd joined in the Chapel. Before and after the speech the crowd bustled about reuniting with old friends and colleagues. Many handshakes and hugs were shared and introductions extended. It was a joining of like minds, not to be disconnected from the speaker and current UGA President.
“We will have no discussion as to whether the
President Adams gave an honorable introduction before Broad walked to the podium. They were acquainted from Broad’s 25 years at the
Broad is the president of The American Council on Education, and served 9 years as the president of the 16-campus
The Louise McBee Lecture is an annual event in honor of Dr. M. Louise McBee, vice president for academic affairs emerita of the
By: Katherine Durham
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