In this webinar, CGS researchers will share selected insights from the 2020 NAGAP/CGS Survey of Graduate Enrollment Management Professionals (click here to view and download the research brief). Selected findings from the RAPID: Investigating Challenges to Matriculation and Completion for Underrepresented STEM Graduate Students during the COVID-19 Pandemic project (NSF/DGE grant number 2037360) will also be shared. Following the presentations, a panel of graduate deans and experts will engage in a moderated conversation about how the pandemic has impacted access and pathways into master's and doctoral education among traditionally underserved students. The panel will also discuss what and how institutions and organizations might act to alleviate any barriers that might have existed before or were exacerbated by the pandemic. NAGAP/CGS Survey support provided by Liaison. Their e-book, Six Benefits of Joining the Centralized Application Service (CAS) Community, is available as a free download. 

To say Roger W. Ferguson, Jr., president and CEO of TIAA and CGS Employer Roundtable member, has an impressive resume is a bit of an understatement. He holds a B.A., J.D., and a Ph.D. in economics, all from Harvard University. He’s the former Vice Chairman of the Board of Governors of the U.S. Federal Reserve System and held executive positions at Swiss Re America Holding Corporation and McKinsey & Company. Roger is a member of the Smithsonian Institution’s Board of Regents, a fellow of the American Academy of Arts & Sciences and co-chairs its Commission on the Future of Undergraduate Education. He serves on the boards of several large corporations and philanthropic organizations and was a member of President Obama’s Council on Jobs and Competitiveness. And, the list goes on…and on.

If you’ve heard him speak, you know he’s a commanding presence, and someone who has routinely used his platform to talk about issues most important to him: education, financial literacy, and ensuring a diverse workforce.  In 2019, Ferguson was awarded the Harvard Centennial Medal, the highest honor bestowed by Harvard University’s Graduate School of Arts and Sciences for “contributions to society as they have emerged from one’s graduate education at Harvard.”

As Roger prepares for his upcoming retirement at the end of April, we talked to him about the role education has played in his life, the value of graduate education, and fostering a culture of diversity, equity and inclusion.

You often talk about the importance of a "lifelong learner" mentality. How has that way of thinking advanced and impacted your education and career trajectory?

I’ve always believed that education is the great equalizer. Growing up, my mother was a public school teacher and emphasized the value of education. She always told me, “Education is the one thing they can’t take away from you. They can’t deny that degree.”

But education in my life was not limited to the classroom. Equally as important was a family environment that valued education outside of the classroom, such as conversations around the dining room table. For me, those conversations consisted of financial literacy, as my father – who grew up during the Great Depression – was interested in interest rates and savings. So while my formal education continued to when I was nearly 30 years old, my desire to always keep learning never faltered.

Every job I took, I looked at as an opportunity to continue to learn something new. Sometimes what I learn may not feel great – like learning about things I don’t do so well. Sometimes it’s a new fact or new information. But it’s all about continuing to learn and grow. I’ve long viewed my career more like a climbing wall than the traditional career ladder. Your career path may not always be a straight line. Instead, it could be a series of vertical and lateral movements. The key is always to keep growing – and that mindset has allowed me to take on some fascinating challenges that might not have come my way if I had thought about my career in a purely linear way.

As an employer, what is the value of hiring staff with advanced degrees?

Companies need individuals with all types and levels of degrees to fulfill unique and technical roles. But most importantly, all organizations require employees who have the critical thinking skills to identify challenges and recognize patterns to find a solution. Employers are increasingly aware of the value of postgraduate studies, as an advanced degree can help employees become subject matter experts in their field, and in turn provide valuable insights and solutions to both their employer and their customers. Advanced degrees can also enhance an employee’s leadership and management skills, two critical components in a professional environment.

Furthermore, employers must hire from a diverse set of candidates, not solely based on their degrees or experiences on paper. Diversity, equity and inclusion should be at the heart of decisions about recruiting, hiring, and developing employees, and selecting directors and leaders. Not only is it the right thing to do, but it’s also a business imperative. Studies have shown that more diverse companies have better outcomes, which benefits all stakeholders: employees, shareholders, and customers.

Your company does a lot of work to address complex societal challenges. Would you tell us a little about one or two of those initiatives and your role in them?

At TIAA, one of our core beliefs is that financial education and financial literacy programs can help make finances more inclusive for all Americans. Through our programs like FinSights (which leverages key findings from research conducted with CGS and more than 30 leading universities) and partnerships with EverFi and Savi, we’re working to educate Americans about their financial options and well-being to help close the wealth gap in the U.S.

We also work to foster a culture of diversity, equity and inclusion – it’s a key pillar of who we are as an organization. Through our Be the Change platform, we empower our associates to make a difference in their workplace and communities by bringing people together to build awareness, promote dialogue and connection, and engage in anti-racist advocacy.

I believe that CEOs must be held accountable for enacting change to achieve a more diverse and inclusive culture. Employees will take their cues from what they see the C-suite saying, and more importantly, doing. Over the last year, I’m pleased that we’ve seen a concerted effort across corporate America to address the racial, social and economic injustices too many folks in our country have endured.

What advice do you have for students – particularly minority students – thinking about graduate school?

Being an African American is part of who I am, but it doesn’t define who I am. I think you have to balance whatever the differences may be versus what is not different. Everyone has something different about them. So I would say respect it, recognize that in ways you are different, but don’t become overly fixated on the differences.

You have to be prepared to take some risks and maybe make mistakes or fail from time to time. I urge all students, regardless if they decide to pursue a graduate degree or not – to develop as expansive an education as possible, rooted in skills and life experiences that will help shape them as individuals. Education doesn’t stop with that last degree you get from formal education; it’s all the day-to-day learning. And most importantly, seek out opportunities that enable you to continue to learn once you’re in the workplace.

How will higher education system and accompanying student debt evolve as a result of the coronavirus pandemic?

The coronavirus pandemic has had an unprecedented impact on higher education institutions and their students. As we look at the long-term impact, the future remains uncertain but hopeful. There are many different types of higher education institutions, it’s not one monolith. Larger institutions may be able to navigate the financial challenges through larger endowments and more access to fundraising. Smaller liberal arts schools may find the tuition challenges to exist for quite a while as they may not have the endowments to fall back on.

We should recognize that some things aren’t going to change. There is evidence that in-person education remains strong, but it also goes beyond the classroom. We’ve seen a number of schools reimagining how they use online capabilities in addition to in-person, and investments in those technologies will continue.

As challenging as it is, it is still very important to complete education. The economic results for students who have completed their degrees are much better than those who have not done that. Even though it’s a challenging time, students should aim to finish their programs.

I’m a firm believer that the higher education sector will continue to be an engine of growth for the American economy and will continue to be a place for individuals to find their opportunities and to create their own futures.

Visit the GradImpact Feature Gallery to learn more about the amazing, innovative research being done by graduate students and alumni across the world.

Photo Credit: TIAA

Some foreign students earning degrees in the U.S. later join the U.S. workforce through programs such as the H-1B visa or Optional Practical Training (OPT). Between 2004 and 2016, nearly 1.5 million foreign graduates stayed in the U.S. through the OPT program. More than half in the OPT program (53%) were approved for employment in STEM fields. An analysis by the Council of Graduate Schools finds enrollment of international graduate students dropped in 2020, raising questions about the future flow of international students to STEM employment in the U.S., however.

In an interactive roundtable, a panel of African American deans will reflect on their experiences with racism in academe and discuss how graduate education leaders can, in the context of Black Lives Matter, move beyond commitments to “diversity and inclusion” to make active anti-racism central in the preparation of doctoral and master’s students.

Chair:   Andrew G. Campbell, Dean, Graduate School, Brown University

Speaker:   Amanda Bryant-Friedrich, Dean, Graduate School, Wayne State University

Speaker:   Henry Frierson, Associate Vice President and Dean, Graduate School, University of Florida

Speaker:   M.J.T. Smith, Dean, Graduate School and Senior Vice Provost, Academic Affairs, the University of Texas at Austin

Speaker:   Dana Williams, Interim Dean, Graduate School, Howard University

In this time of unprecedented disruption for international graduate students, the need for English language assessment that is accessible, reliable, and secure has never been greater. Join representatives from Duolingo and Carnegie Mellon University (CMU) to learn how the online Duolingo English Test can help graduate programs address current trends in international recruitment and admissions and why the test is being used by hundreds of graduate programs around the country. Webinar attendees will also hear about impact, accessibility, and usability within the CMU Information Networking Institute (INI) applicant pool. Webinar sponsored by Duolingo.

In an attempt to combat the mental health crisis, many schools have implemented their own mental health awareness campaigns or task forcesin an attempt to combat this issue. The Council of Graduate Schools has also teamed up with a non-profit organization, the Jed Foundation, to start a 22-month initiative where they will create a foundation to support graduate student mental health and well-being, and provide an expert-guided action plan. Furthermore, many graduate students have volunteered their time to create online communities for helping fellow students with their mental health. 

After Increase in Application Rates, First-Time International Graduate Student Enrollment Takes a Big Hit in Fall 2020 (2/18/2021)

The Council of Graduate Schools (CGS) released new data showing that although international graduate application rates increased at U.S. universities for Fall 2020, first-time enrollment declined substantially. Final application counts from prospective international graduate students increased by 3% between Fall 2019 and Fall 2020, but first-time enrollment decreased by 39%. While the first-time enrollment at the master’s level declined (-43%) at a higher rate than at the doctoral level (-26%), the rate of decline was consistent across institutional types.

“The first-time international graduate student enrolment decreases are alarming, because they undermine the international diversity and vitality of US graduate programs,” said CGS president Suzanne Ortega. 

“Between the effects of the Covid-19 pandemic, particularly on health concerns and international travel, and the lack of consistent and timely direction from the Trump administration regarding international graduate student visa policy, we were prepared to see declines.” 

"CGS President Suzanne Ortega stated that the effects of COVID-19, especially the international travel restrictions and health concerns along with the lack of consistency and timely direction regarding the international graduate student visa policy by the Trump Administration, such sharp declines were expected."