Dispelling Myths About Retaining Talented Employees

Abstract: The term “survival of the fittest” was never actually used by Charles Darwin when he explained his theories on evolution. It’s a term used—usually incorrectly—by those outside the scientific community to promulgate the idea that the strongest, fittest, or most perfect species win out over weaker ones. The truth is, plenty of mediocre or simply adequate species continue to subsist for millennia.

From employees’ perspectives, the same holds true in the workplace. The “perfect” job usually eludes most workers. Instead of looking for the perfect job, experts claim that most workers are looking for jobs that are merely adequate to accommodate their life.

The secret to retaining talented workers—those who usually find themselves with multiple job options—is to find out what they want out of life and then tailor an adequate job to accommodate their lifestyle. Instead many managers and companies rely on three myths that they believe will keep workers happy, engaged, and coming to work day after day.

The full article was originally published in the Spring issue of the Student Aid Transcript.

Lender Reactions To Department Plan Positive, For Now

Abstract: A lot has happened in three days. On Monday, unnamed Sallie Mae officials were threatening to exit the FFEL program. On Tuesday, Department of Education officials presented their plan to leaders of the lending community in a closed-door meeting about how to infuse liquidity in the student loan market. Yesterday, the Department officially released some of the details of that plan in a Dear Colleague Letter outlining how they would provide liquidity to FFELP lenders. Shortly thereafter, in an open Webcast, Sallie Mae said they were staying in the program, for now.

The full article was originally published on 05/22/08 in NASFAA’s Today’s News.

Department Feeling The Heat On Credit Crunch

Abstract: The Department continues to feel pressure to act on H.R. 5715 as soon as possible. Last week NASFAA President Dr. Phil Day urged the U.S. Department of Education to issue regulatory guidance on the new legislation before Memorial Day. The following day, leaders of the lending community also called on the Department to use federal capital to infuse liquidity into the market. Finally, last Friday, Congressman Paul Kanjorski (D-PA), Chairman of the House Financial Services Capital Markets, Insurance, and Government Sponsored Enterprises Subcommittee, also wrote a letter to Education Secretary Margaret Spellings and U.S. Secretary of the Treasury Henry M. Paulson, and urged them to immediately implement H.R. 5715.

The full article was originally published in NASFAA’s Today’s News on 05/20/08.

What’s Going On With The "New" GI Bill?

Abstract: Despite some political wrangling, a bill that would drastically increase student financial aid benefits for veterans has picked up steam in recent weeks. The "Post-9/11 Veterans Educational Assistance Act of 2008" (H.R. 5740) was introduced in the House last week by Rep. Harry Mitchell (D-AZ) and has so far garnered wide support. Unlike the House bill, a similar bill in the Senate is sparking sharp debate and a political showdown between Republican and Democratic leaders seems imminent.

The full article was originally published on 5/15/08 in NASFAA’s Today’s News.

The Money’s There for College (Kiplinger)

Abstract: "Recent turmoil in the financial markets and the departure of some major lenders from the student-loan business have provoked fears that these student loans will dry up. If many more private lenders jump ship, federally designated state agencies will step in to find or act as lenders of last resort. The DOE recently asked agencies to brush up on procedures for such a step. ‘They wanted to make sure all precautions are taken,’ says Justin Draeger, of the National Association of Student Financial Aid Administrators."

The full Kiplinger article is available online.