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March/April 2012 –
BizVoice
/Indiana Chamber
21
that two more years of tuition and living. The dollar figure on
it is staggering,” Elsener describes.
LaMothe notes that “when you talk to them, they don’t
really get the concept of how deep the debt is, how long it’s
going to take them to pay it back and what it will mean in the
curtailing of their lifestyle as they try to pay it back.
“And unfortunately, a lot of it won’t be paid back. It’s a
huge bill that is waiting to get paid, again, by the taxpayers of
the state.”
Elsener decides it comes down to young people being
poorly educated about their finances.
“You have the lost opportunity costs of being in school
another year – let’s say $40,000 in pay and benefits, plus
you’re paying tuition for another year. I just don’t think
sometimes we’ve communicated well with people what it
actually costs them.”
Message to business community
More communication and involvement from companies to
their workforce would also help move the needle further
toward meaningful overall education engagement and reform.
Edwards offers up one such approach: “Internships are a
very effective way for businesses to stay in touch and tied to
the community.”
For LaMothe, it’s about options and doing everything one
can. “I believe education is the great equalizer. What my
business peers can do – they are influential with their
employees – is promote education and their own economy.”
He cites outside job skill training and tuition assistance as
two steps employers can take to benefit both their employees
and the company in the long run.
“Businesses across the state can do that. They can
encourage their employees to get involved in their school
systems, maybe even serve on the school board; in its own way
that encourages improvement and success,” LaMothe reasons.
“Also volunteering at the schools, going to their children’s
parent-teacher conferences – just encouraging (and giving time
off for) that. There are a lot of things that employers can do to
promote the importance of education.”
Business Loans
free business checking?
absolutely.
317.558.6299 or 800.382.5414
www.ForumCU.com
any FORUM branch location
I N F O R M A T I O N L I N K
Resources:
Jim Edwards, Edwards and Associates, at
jdedwards@psci.net
Dan Elsener, Marian University, at delsener@marian.edu
Mike Kubacki, Lake City Bank, at
Michael.Kubacki@lakecitybank.com
Chris LaMothe, Sherry Laboratories, at
clamothe@sherrylabs.com