A Letter from the Dean of the UofM Graduate School: Investing in Graduate Education
Dear Students, Alumni, and Friends of the Graduate School,
There is no question that a bachelor’s degree is life changing. Despite skepticism about the value of a college education, the data is clear: Compared with individuals whose highest degree is a high school diploma, bachelor’s degree holders are 24 percent more likely to be employed, 3.5 times less likely to be impoverished, and nearly five times less likely to be imprisoned. In addition to impacting individual lives, a bachelor’s degree positively impacts society. Lifetime government expenditures are $82,000 lower for college graduates than for those with high school degrees and college graduates, on average, pay $273,000 more in taxes than a high school graduates over a lifetime.
What about the value of a graduate degree?
Those of you with graduate degrees know that your graduate education opened doors for you--job opportunities, professional connections, promotions, international experiences, skills, and knowledge--that you would not have otherwise had. Your graduate career helped you to become the best version of you. But the data regarding lifetime earnings and family wealth are helpful in articulating just how impactful a graduate degree is.
Although money isn’t everything, this data supports the idea that a bachelor’s degree considerably helps individuals to climb the economic ladder, but a graduate degree has the potential to put us and our families on the express elevator, building not only individual wealth but generational wealth. This, in turn, brings even greater benefits to society in terms of lower government expenditures and greater tax revenue.
I share this data with you so that you can fully appreciate the impact that donors who support graduate education in the form of graduate scholarships and fellowships, donors like Burton Weil are making. They are making the “express elevator” available to students who otherwise would not have access to it, changing the economic and social landscape of individuals, families, and society.
In addition to contributing to the social and economic mobility of individuals and their families, investing in graduate education has a direct impact on our city and state. Graduate education is essential for building a skilled and competitive workforce that can drive innovation, productivity, and economic growth. A highly educated workforce attracts businesses, investment, and talent to the region, spurring economic development, job creation, and prosperity for all residents. By investing in graduate education, Memphis can attract top talent from across the country and around the world, bolstering its reputation as a hub for innovation and entrepreneurship. Talented graduate students and researchers contribute to the intellectual capital of Memphis and Tennessee, attracting investment from companies seeking access to cutting-edge research, technology, and talent. This, in turn, strengthens our position as a leader in key industries and enhances its competitiveness on a regional, national, and global scale.
The graduate school has just formed its first advisory board that will be helping us to spread the word about the benefits of graduate education and the impact of funding graduate education. I will be introducing them to you in a fall newsletter.
I invite you to join us in this vital endeavor. Spread the word and consider making a donation to the University of Memphis Graduate School.
Help us and our students climb higher! Every donation, no matter the size, makes a significant difference. Your support helps to create a vibrant, dynamic, and inclusive academic environment where our students and faculty can thrive. Together, we can continue to build a graduate school that is not only a center of academic excellence but also a driver of social mobility for our community.
Thank you for your continued support and commitment to the University of Memphis Graduate School.
Warm regards,
Deb Tollefsen
Vice Provost and Dean of the Graduate School
University of Memphis