WEBVTT

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  HELLO AND WELCOME TO INSIDE

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INDIANA BUSINESS...I'M GERRY

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DICK.

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A STUNNING REPORT ON THE NUMBER

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OF INDIANA HIGH SCHOOL STUDENTS

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WHO GO ON TO COLLEGE.

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OR EDUCATION BEYOND HIGH SCHOOL.

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THE INDIANA COMMISSION FOR

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HIGHER EDUCATION SAYS BARELY

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HALF OF THE STATE'S HIGH SCHOOL

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GRADS ARE SEEKING A COLLEGE

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EDUCATION, THE LOWEST IT'S BEEN

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IN FIVE YEARS...THE COVID-19

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PANDEMIC FUELING THE SHARPEST

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YEAR-OVER-YEAR DECLINE IN THE

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STATE'S COLLEGE-GOING RATE.

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WHAT IS THE IMPACT FOR INDIANA

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BUSINESS AND THE FUTURE OF THE

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STATE'S ECONOMY?

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AND IS THERE ANYTHING THAT CAN

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BE DONE TO REVERSE THE TREND?

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FOR SOME ANSWERS, I'M PLEASED TO

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WELCOME BACK TO THE SHOW CHRIS

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LOWERY IN HIS NEW ROLE AS

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COMMISSIONER FOR THE INDIANA

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COMMISSION FOR HIGHER EDUCATION.

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CHRIS, AS ALWAYS, THANKS FOR

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JOINING US.

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>> THANKS.

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THANKS FOR BEING HERE.

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>> THESE NUMBERS ARE STUNNING.

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A 12-POINT DROP FROM 65% TO 53%

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OVER THE PAST FIVE YEARS OR SO.

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HOW CONCERNED SHOULD WE BE ABOUT

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THESE NUMBERS?

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>> GERRY, I THINK WE HAVE TO BE

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VERY CONCERNED.

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WE'VE BEEN SOUNDING THE ALARM ON

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THIS.

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A 12-POINT DROP.

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IT'S ABOUT AFFECTING INDIVIDUAL

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LIVES.

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AFFECTING EMPLOYERS, BEING ABLE

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TO GET THE TALENT THEY NEED AND

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REALLY FOR OUR STATE TO THRIVE.

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WE HAVE AN INCREDIBLE ECONOMY IN

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OUR STATE.

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AND WE NEED PEOPLE WHO ARE

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TRAINED AND EDUCATED IN ORDER TO

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MEET THAT.

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>> YEAH, SUCH AN IMPORTANT

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PIECE, THAT TALENT PIPELINE.

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WE TALK ABOUT IT A LOT.

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MIKE, FROM BALL STATE

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UNIVERSITY, HE WEIGHED IN ON

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THAT AND HAD SOME POIGNANT

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COMMENTS ON TWITTER.

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SAYING IT'S REALLY DIFFICULT TO

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OVERSTATE THE CHALLENGE THESE

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NUMBERS, HARD TO OVERSTATE HOW

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BAD INDIANA'S LONG-TERM

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PROSPECTS ARE DUE TO THE LOW

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EDUCATIONAL ATTAINMENT.

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DO YOU THINK THAT'S AN

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OVERSTATEMENT?

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>> AGAIN, WE ARE SOUNDING THE

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ALARM.

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I NOTICED THAT MIKE FORWARDED

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AND PASSED ON THROUGH TWITTER A

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RELEASE THAT OUR TEAM DID LAST

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WEEK.

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YOU KNOW, WHEN YOU LOOK AT BOTH

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THE NEED OF EMPLOYERS, THE

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UNEMPLOYMENT RATES, WE'RE AT A

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2.2% UNEMPLOYMENT RATE.

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BUT AS YOU START TO LOOK INTO

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AND DIG INTO THAT, IT REALLY

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BECOMES DIFFERENTIATED.

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IT'S LESS THAN 1% FOR

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INDIVIDUALS WITH A BACHELOR'S

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DEGREE AND HIGHER, BUT NEARLY

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FIVE TIMES THAT FOR SOMEONE WITH

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ONLY A HIGH SCHOOL DIPLOMA.

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THE SUPPLY AND DEMAND STARTS TO

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SPEAK INTO THOSE NUMBERS.

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>> WHAT'S DRIVING THIS DOWNWARD

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TREND IN THE NUMBERS?

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>> CERTAINLY THE PANDEMIC

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ACCELERATED THAT FOR 2020, OUR

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MOST RECENTLY AVAILABLE NUMBERS.

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BUT FOR SOME TIME INDIVIDUALS,

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CONSUMERS HAVE BEEN QUESTIONING

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THE VALUE OF TRAINING AND

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EDUCATION BEYOND HIGH SCHOOL, OR

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BACK TO THE COLLEGE-GOING RATE.

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WE FIND PRINCIPALLY WITHIN THAT

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THAT THERE ARE THREE PRIMARY

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FACTORS: AFFORDABILITY.

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THAT'S A QUESTION.

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QUALITY, AND CAREER RELEVANCE.

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SPECIFICALLY AROUND

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AFFORDABILITY.

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YOU KNOW, I'VE COME TO REFER TO

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SOME OF THESE STORIES AS THE

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UNICORN.

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THERE'S THE STORY OF SOMEONE WHO

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HAS THIS, I'LL PICK ON

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UNIVERSITY OF SOUTHERN

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CALIFORNIA, SOME ODD MASTER'S

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DEGREE, INDEBT FOR $150,000 AND

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POURING COFFEE FOR A LIVING.

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THAT'S NOT THE NORMAL.

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IN INDIANA, THROUGH ADVANCED

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LEVELS OF POST-SECONDARY

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EDUCATION AND TRAINING AND

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HIGHER EDUCATION RESULT IN LOWER

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UNEMPLOYMENT, HIGHER WAGES, HIGH

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NET WORTH, AND DEBT IS

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SUBSTANTIALLY LOWER THAN THAT.

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AND INDIANA'S COLLEGES AND

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UNIVERSITIES ARE A BARGAIN, AND

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A GOOD DEAL, A GOOD VALUE

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COMPARED TO OTHER STATES.

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WE'RE VERY COMPETITIVE IN THAT

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REGARD.

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>> AND COLLEGES AND UNIVERSITIES

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PERCEIVED WELL OUTSIDE OF THE

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STATE.

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ATTRACT A LOT OF OUTSIDE

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STUDENTS.

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>> YEAH, OUT OF 50 STATES, WE

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ARE 14TH BEST AT ATTRACTING

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STUDENTS FROM OUT OF STATE.

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MOST CONSUMERS DON'T KNOW THAT

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OVER THE LAST 10 YEARS WHEN

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ADJUSTED FOR INFLATION, OUR

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STATE UNIVERSITIES AND COLLEGES

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ARE ACTUALLY 1% BELOW INFLATION

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WITH REGARD TO TUITION

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INCREASES.

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THAT'S A BIG DEAL.

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>> HOW DO YOU TURN IT AROUND?

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>> YEAH, I THINK WHAT YOU HAVE

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TO DO IS LOOK TO PROGRAMS THAT

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ARE PROMISING.

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WE HAVE THE 1ST - 21ST CENTURY

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SCHOLAR PROGRAM HERE IN INDIANA

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SINCE 1990.

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THE PERCENTAGE OF THOSE STUDENTS

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GOING ONTO SOME FORM OF

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EDUCATION PAST HIGH SCHOOL IS

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81%.

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VERSUS 51%.

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LOW-INCOME STUDENTS, BEGINNING

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AND MIDDLE SCHOOL, TARGETING

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RESOURCES AROUND IT.

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THE NEW INDIANA CORE, A BLOCK OF

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30 HOURS THAT THEY CAN TRANSFER

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TO A UNIVERSITY.

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THE GOING RATE FOR THOSE

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STUDENTS IS 90%.

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WE NEED MORE KIDS ON THOSE

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PATHWAYS.

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>> WE'RE TALKING ABOUT FOUR-YEAR

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COLLEGE AND ALSO TRADES AND

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ASSOCIATE DEGREES, TWO-YEAR

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INSTITUTIONS.

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>> YEAH.

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ABSOLUTELY.

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BEGINNING VERY EARLY WE NEED

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STUDENTS IN MIDDLE SCHOOL AND I

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COULD CONTEND EVEN EARLIER THAN

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THAT AWARE OF ALL THE

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OPPORTUNITIES THAT EXIST.

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WE LOOK AT OTHER STATES AND

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OTHER NATIONS, WE CAN DO A

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BETTER JOB OF MAKING SURE THAT

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STUDENTS KNOW ABOUT TRADES,

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CERTIFICATION PROGRAMS, TWO AND

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FOUR-YEAR DEGREES.

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THIS HAS TO BE AN ALL OF THE

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ABOVE APPROACH IN ORDER FOR OUR

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FELLOW HOOSIERS TO SEE ECONOMIC

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AND BUSINESS PROSPERITY.

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>> HOW LONG IS IT GOING TO TAKE

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TO TURN THIS SHIP AROUND, IF YOU

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WILL?

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>> YEAH, I THINK WE HAVE TO BE

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AGGRESSIVE ABOUT IT, WHICH IS

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WHY WE'VE COME OUT VERY FORCIBLY

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IN THESE RECENT DAYS WITH THE

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STATE.

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WE'VE GOT TO MAKE FOLKS AWARE OF

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IT AND BE ALL HANDS ON DECK.

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LOOK AT THE VERY NEAR TERM.

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OUR TEAM ARE LOOKING AT ONE,

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THREE, FIVE, AND TEN-YEAR

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PROJECTIONS TO SEE WHERE WE

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SHOULD BE.

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I BELIEVE FIRMLY WE NEED TO

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COMPLETELY REVERSE THE TREND AND

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GO BEYOND THAT.

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WE NEED TO GET BACK TO THE 65%

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AND BEYOND IN ORDER FOR INDIANA

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TO THRIVE.