Posts Tagged ‘career advancement’

How to mentor when you don’t have time

Saturday, February 25th, 2012

Julie Stav, one of my mentors for my media career


I recently invited one of my mentees to come with me to a TV appearance. She was looking to break into broadcasting and I thought this was a perfect occasion for her to meet the show’s producer, the anchor and the news director. We met first for coffee and chatted briefly about her ongoing career exploration, and then we headed to the studio, where she also had the opportunity to meet the two executive women who were joining me for a round table.

While my co-panelists and I recorded the interview, the young woman spent some time talking to the news director and the producer about opportunities in the media. She asked lots of questions and got some focused guidance. I call this “mentoring on the go.”

For the new generation of young professionals entering the workforce, the value of having mentors cannot be overstated. But often in the Latino community, it’s hard to come by executives or prominent leaders who are available to mentor others—mainly because given the relatively small number of Latinos in the executive ranks, they receive a disproportionate number of requests to mentor other Latinos.

As a community, however, we are faced with a great need for increased mentorship of our youth and our mid-career professionals if we are to claim the leadership roles, which is so critical to making our growing numbers count. So it’s time for all of us to step up as mentors. Naturally, the number of mentees you can help will vary depending on the level of responsibility you already have. You may be able to take on three to five people at a time, or you may be able to focus on only one. But whether you’re mentoring one person or five, the question is: How can you mentor effectively without this worthy activity impinging on your own career?

Begin by identifying high-potential candidates: people who are honest about seeking help and who want to help themselves. People willing to work hard, set goals, follow through with any task you assign to them regarding their professional or personal development, and put as much time and effort into the relationship as you will. This usually involves students and young professionals who are interested in a mutually beneficial relationship—individuals who value your input, time and expertise and are willing to reciprocate with their own experience in areas where you could use help. (Learning to use social media, anyone?) In many companies, this is called “reverse mentoring.”

The next step is to find out as much as you can about your mentees’ goals, dreams, education, and the sector or company of their interest. You need to have a thorough fact-finding conversation so that you have a clear picture of how and when to involve them in your daily activities.

The third step is to invite your mentees to job-shadow you for a day or a week; to support the work you do with non-profit organizations; and to bring them to special events, meetings, conferences, and other activities you attend.

The advantage of this strategy is that you can still offer one-on-one attention to your mentees while you expose them to key contacts and valuable experiences. You have a chance to see them in action and provide immediate feedback during a debriefing session after each event. Often, you can sign up some of the contacts to which you introduce your mentees at these activities to help address specific issues with them, just as the news director and producer did with the young woman of my story. This additional help contributes to two positive outcomes: mentees receive sound advice from experts you trust while at the same time, they expand their network.

In terms of the mentoring experience, it feels more real, dynamic and reciprocal, which I find more valuable and sustainable for both parties involved. In addition, it is much more time-efficient than scheduling individual meetings and phone calls with a number of mentees.
As leaders in our respective fields it is our collective responsibility to help train the next generation of leaders. Closing your door to those seeking your help using the argument that you barely have time to go to a conference for your own personal development, much less to mentor several people, won’t cut it. Finding a strategy that allows you to mentor high potentials and attend that conference, priceless.

This blog first appeared on Fox News Latino.

Do Latinos Help Other Latinos as Much as They Could?

Sunday, September 4th, 2011

shut-up

A frequent complaint I hear from Latinos trying to break into power circles is that other Latinos who are already there don’t extend a helping hand. I’ve seen it myself. And if you wonder, like I do, why there aren’t more visible Latino leaders or why our share of power is nowhere near the percentage of the Latino population in this country, part of the answer might lie in the lack of a helping Latino hand.

As a media contributor at national and local levels, I have spent the last few years pursuing opportunities in English media, because I believe that in order to expand my message and influence, I need to move beyond talking to an audience which has a similar background to my own. Otherwise, I’m just preaching to the choir instead of raising awareness in a segment of the population that may not understand a Latino perspective.

Unfortunately, like most of you, I have often heard renowned Latinos give public speeches about the importance of pulling up those who follow in their footsteps—then seen them turn around and cut the rope when they are asked for help. A few days ago, I ran into one of those well positioned Latinos who I had personally heard saying that more diversity was needed in the newsroom. Only a few days earlier I had sent him an email asking for help introducing me to one of his producers and he had responded with a suggestion that was not particularly helpful. When we met, he said ‘hello’ from a distance of only five feet and then turned and walked away as I was opening my mouth to follow up on our email exchange. The introduction I was hoping for wasn’t going to happen.

I know the world doesn’t revolve around me and my agenda. That people are protective of their connections and their turf. That many are overworked, understaffed and underpaid. That most high ranking Latinos receive an overwhelming amount of requests that they cannot possibly fulfill, and that these requests often come from people who are not the right candidates for the help they are seeking.

But nobody builds a successful career alone. No matter how smart you are, all successful careers are built upon a large, strong network, and with the help of sponsors who at some point champion you as the right candidate for that awesome opportunity. So, why do people find it so hard to help others who are respected professionals in their fields when they reach the pinnacle of their careers, and it’s within their power to do so? Why is it so difficult to put in a good word on behalf of a fellow professional with an impeccable reputation?

I can’t help question people’s motives. Whenever any one of us resists opening a door, we are shrinking the pie instead of expanding it for all of us. You may do it because you are one of very few Latinos in your company and you don’t want others to perceive you as an activist. You may do it because you don’t want your bosses to think your personal network is mainly Hispanic. You may do it because you fear that if other Latinos walk in they may take something away from you. Whatever the reason, in the end you are hurting yourself, too.

The truth is that if you have to protect yourself in such a way, it probably means you’re not as indispensable as you think. Or you are the “token Latino” in the wrong company and eventually they will get rid of you, too. Whatever the reasons for your protectionism, they are likely to backfire. In practical terms, you are putting up a stumbling block for all Hispanics trying to move into circles of power, something that in the end affects all of us. Because as long as we continue to have such poor representation at executive levels in the private and public sectors of this country, the Hispanic community will continue to be discounted. We don’t need one leader. We need many leaders who can carry the very diverse voices of this community.

So, while you’re busy making sure nobody else climbs the ladder next to you, you are missing the chance of a lifetime: to become the power broker for every Latino and Latina of high caliber. To create a legacy of leadership beyond your own and be remembered as someone who helped set the stage for a new conversation in this wonderful country of ours.

An earlier version of this column appeared on Fox News Latino on July 27, 2011 under a different title.

Latinos: No Power Other than “Purchasing Power”?

Friday, August 5th, 2011

ublado-looking-at-books-reading
In my Op Ed about the lack of Latinas on the list of “50 Most Powerful Women in New York” published by Crain’s New York Business, I suggested the culprit for the blatant absence might simply be the homogenous network of the editors. Namely, not knowing people beyond their own circle of Anglo Saxon women from which to draw candidates. Some readers quickly suggested the creation of a list of the “50 Most Powerful Latinas,” something that in one form or another already exists thanks to the compilations put together by publications such as Latina Style, Hispanic Business, Working Mother Media, etc.

Besides, the whole point of my column was to suggest that we stop thinking of each other as belonging in one bucket or another and get us to start thinking of people who impact and influence society at large. The purpose of pointing out that there were no Latinas (and very little diverse talent) on the list that inspired the post wasn’t to segregate Latinos into a separate cluster but to integrate us into the group portrayed as powerful.

You may think that I’m blowing the importance of these lists out of proportion – That they are frivolous and that “nobody really cares about them.” To me, however, they reflect who we consider influential in our culture and who determines who is influential.

And besides, for the people who make the cut, there’s a boatload of free publicity, and their visibility coefficient shoots up substantially bringing along a series of other subtle and perhaps subliminal side effects like credibility, employability and overall power.

Power brokers trade in circles with other power brokers. So, if you’re not featured on those lists and you think you are a leader, doesn’t your consistent absence imply that maybe you are not so powerful?

Now, there is something to be said in terms of our own responsibility as Latinos in all this. We, as a plural, multi-national community with various degrees of acculturation, need to step up to the plate.

If for years you’ve been hiding your background from your employers and colleagues so that you wouldn’t be pigeonholed, you need to reconsider the implications of staying in the shadows as a Latino. Now that U.S. Census figures are forcing everyone to understand Latinos as consumers and develop a more inclusive workforce, you might actually be missing out on leveraging your cultural insights and standing out as a leader.

On the other hand, if you spend most of your time attending Hispanic events and notice that you have few non-Latinos in your network, you may want to sign up for some general market conferences where you can mingle with people who navigate in different circles than you. This healthy interaction will eventually result in more Anglo-Americans becoming more aware of the kind of work you do and how relevant you are in your industry. As you forge these relationships, they will hopefully lead to invitations to attend powerful events, present at general market conferences, join VIP committees and volunteer in beloved charities.

The point is, if we stay in a silo it’s harder for others to find us. Regardless of your level of influence, the only way to make it known more broadly is to transcend your own circle, and for that you will have to get out of your comfort zone.*

*This column first appeared in AOL Noticias 11.7.11

No powerful Latinas in New York City. Seriously?

Sunday, July 3rd, 2011

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During the last few months I’ve been sending letters to the editors of general market publications such as Time magazine and Crain’s New York Business complaining of the fact that there are either too few or no Latinos at all in the lists they love to put together. Whether it Time’s Most Influential People or Crain’s “40 under 40″ or “50 Most Powerful Women”, there’s a worrisome absence of Latino leaders in these lists. Is this because there are no Latino leaders? No entrepreneurs under 40? No powerful women in New York? No. It’s likely because the committees that nominate and select the winners are not diverse enough. They make recommendations based on who they know and they ask their own network to suggest others that they know, perpetuating the nomination and selection of the same kind of people. If you look at this week’s 50 Most Influential Women list, you’ll see that it is a white girls club.

Why is this important? Because visibility breeds more visibility and opportunities. It also perpetuates the perception that there are no Latino and Latina leaders out there, nobody worth mentioning in a general market list. And what’s worse, no inspiration for our younger generation. If they don’t see diversity in the higher ranks, how are they expected to believe there’s a path for them?

I’m not saying that Latinos are not being honored in lists by Diversity Inc.magazine, Hispanic Business and Latina Style magazine amongst others. But Latinos and diverse talent in general should be featured alongside white talent if we are going to continue making inroads at the higher levels of society. So, here’s the letter that I sent to Crain’s New York Business. Feel free to use it as a template to create your own letters and send them to all the publications and media outlets that don’t realize that Latinos are more than just 50.4 million consumers of their advertisers’ products. We are powerful, we are leading companies and industries and contributing enormously to the growth of this country.

Letter to the Editor, Crain’s New York Business,

I was thrilled to see that you decided to publish again the “50 Most Powerful Women” list to highlight the great accomplishment of women in New York City. They are an inspiring, accomplished group of professionals who prove that women make great leaders.

As I went through the list though (just as when I go through all of your lists), I noticed that it really only features the “white girls club.” With the exception of one African American (Edith Cooper), one Chinese American (Andrea Jung) and one Indian born American (Indra Nooyi) there is little diversity in this list and there’s a blatant absence of Latinas.

Maybe you haven’t heard of Mónica Lozano, CEO of Impremedia (just named by Adweek Magazine one of the 10 Most Influential Executives in U.S. Hispanic Media), Jacqueline Hernández, Chief Operating Officer Telemundo; Ruth Gaviria, Senior Vice President Marketing Univision; Lucía Ballas-Traynor, recently named co-founder of Cafemom’s Hispanic site and former publisher of People en Español; Lisa Quiroz, Senior Vice President- Corporate Responsibility Time Warner; Galina Espinoza, co-President Latina Media Ventures (which publishes Latina Magazine), Ana Duarte McCarthy, Chief Diversity Officer Citigroup, Jessica K. Asencio, Chief Administrative Officer Investment Bank JPMorgan Chase; Enedina Vega, Publisher Multicultural Ventures Meredith, and many, many others.

As you must know, according to the U.S. Census there are now 50.4 million Hispanics in this country and this group was responsible for 50% of the population growth during the past decade. As a loyal reader of Crain’s New York Business, I can’t help but wonder why your magazine so seldom covers positive stories about this community and seldom (if ever) features Hispanic entrepreneurs and executives.

With one out of every four people under 18 in the U.S. being Hispanic, this population is not only where consumer growth is today but also the workforce of the future. Something both your magazine and your readers need to start giving serious consideration.

Cordially,

Mariela Dabbah
Author Latinos in College: Your Guide to Success, co-author The Latino Advantage in the Workplace and several other books on success for Latinos.

Do Latinas dress too sexy for their own good?

Wednesday, April 6th, 2011

mariela-with-jacket1

    In a recent post on the Latinos in College Facebook page we asked if Latinas dress too sexy for the workforce or for a professional environment. It was interesting to read our fans reactions. Here’s a sample:
    “We have curvy figures and everything just looks great on us!” – Carmen Guerrero“

    “I think we just have great taste and “consequently” what we choose to wear accentuates our bodies… I mean when I watch Good Morning America on NBC and Despierta America on Univision I’m like there is no comparison. Latinos are looking fresh all the time.” Faustino Hernanez

    “I think it’s just the shape of our bodies. I can wear something really baggy and you can still see my curves.” Vikki.

    Yes, Latinas tend to be curvier and pay more attention to their appearance. (Full disclosure: I wore lipstick to the ER a few weeks back!) But that doesn’t mean that they are always dressing appropriately when it comes to the workplace or any professional environment. This is true not just for Latinas but for many young ladies who have some difficulties distinguishing what kind of clothes to wear for different occasions. If you don’t have female role models who work in a professional setting, it can be a challenge to figure it all out on your own.

    Here are a few pointers that might help.

  • 1. Use the heavy makeup for a night out. For a job interview, an internship or a professional conference, try a more discreet do. The same goes for your accessories. The principle here is “less is more.”
  • 2. Skirts should be to your knees or below. Not above. Favor those that are not too tight so that the shape of your butt doesn’t become part of the conversation once you walk away. Choose skirts that are either a solid color or subtle prints. And fabrics that are not see through or lacey.
  • 3. Blouses or shirts should not show cleavage, they should fit you nicely but not too snuggly. Again, choose solids over busy prints and favor fabrics that are not see through, shiny, or have inscriptions. Do you really want a contact who could be your future boss read: “You say bitch like is a bad thing” printed on the back of your shirt?
  • 4. Wear a bra even when you don’t need one.
  • 5. Wear stockings whenever possible. Even in 2011 bear legs are still too informal for most professional environments.
  • 6. Choose your shoes carefully. You want to wear pumps with a regular heel (about 3 inches.) We all know you’ll be on the next season of Dancing with the Stars, but for this occasion, it’s better to leave your dancing shoes at home.
  • 7. If you wear a pant-suit (or pants and a jacket), chose slacks that are not stretchy and this includes any clothes you’d use to exercise, or go on a stroll with your mom on a Sunday morning. No thighs, no leggings, no palazzo made of stretchy cotton, or velour, no sweatpants, you get the picture.
  • 8. If you look awesome in a dress with a jacket, go for it! Nobody said you had to wear a suit. As long as the dress is not a little tiny summery thing, with spaghetti straps… Then we’re back to: leave it in your closet for that date you have coming up next weekend.
  • 9. And while we are talking about pasta, no tops with spaghetti straps that adhere to your body like a suede glove.

    The secret is to embrace your figure, find clothes that fit well but not too tightly, that highlight your best features and make you look elegant and project the image of a leader. When I have to dress for a business meeting, I always find a way to show my personality, either with some unique accessories, or wearing an unusual jacket that still looks professional.

    It’s not only about feeling confident and great in the clothes you choose, it’s also about what others perceive when they see you. So, when you look at yourself in the mirror ask yourself: “If a woman came to me looking like this, would I trust her to lead others? Would I assign her responsibilities? Would I coach her to grow in the company because I see potential in her?” These questions will help you look at your appearance differently.

    In an increasingly diversified workplace, it is to be expected that eventually, people will be more open to Latinas flashier style, but this shift hasn’t happened yet, so if you want to have as many opportunities open to you as you deserve, you will have to do some adjusting. I’m not suggesting that you become someone you are not. Only that you don’t let your clothes do all the talking before you even open your mouth and let the world know how smart you are.

The mean girls club

Tuesday, March 22nd, 2011
Panel of executive & non executive women at a P&G Latina conference

Panel of executive & non executive women at a P&G Latina conference

I had lunch with a girlfriend the other day and was surprised to hear yet another Latina executive talk about the “mean girls club.” I was starting to wonder if this was an actual club with locker rooms, a swimming pool and a lounge where all these wicked women got together to plot against their gender-mates. As if the space for women in the top ranks were limited and all the seats taken.

In the two previous weeks I had heard similar stories from other girlfriends and female colleagues, all of them executives, who were having a hard time aligning their management style with the corporate culture of their respective companies. In many situations, the people making things hard for these women were other women.

The truth is that it continues to be a struggle for diverse women to succeed at the highest levels of a corporation — most likely the result of a conservative corporate culture that has a hard time embracing different styles and values combined with the need to further coach and mentor these women.

One of my smartest friends found an outstanding executive coach who not only helps her understand the unwritten rules of the game but also plays the unofficial role of therapist lending an empathetic ear at the end of a migraine-inducing discussion with one of the mean girls. Another one, sadly, decided to quit her high paying job.

So, when it comes to doing what it takes to get your posh office and the corporate credit card, how much is too much? It obviously depends on your goals and your resilience levels. On your priorities and willingness not to take things too personally. On your ability to find allies and mentors, sponsors and advocates within and outside of the organization that can be part of the support network that keeps you focused and learning. And on your commitment to conducting an ongoing introspection.

Let me explain. As you move up in your career, there’s no question that you will constantly have to engage in a profound soul searching to identify what you have learned and what you’re still missing, what cultural traits impact your ability to connect with others and communicate in a productive way. What in your upbringing or in your life experience makes you overreact when someone tries to control you, keep you in a corner, or treat you like you don’t know what you’re talking about in public.

When you commit to this kind of ongoing reflection alone or with the help of a coach, you can identify the areas where you need assistance and seek it. Sometimes the problem stems from the fact that you haven’t identified the source of the conflict because no matter how much you try not to take it personally, every time the mean girl (or the mean boy) says that you are a failure, your gut turns inside out and you become paralyzed. But the moment you realize, for example, that that person makes you feel the way your father made you feel when you were a kid, when nothing you did was ever good enough for him, you can give new meaning to the overreaction and slowly modify your behavior. Because now you know that the paralysis you experience in that situation is a reaction to something else that happened long ago. That you are no longer a vulnerable little girl. That you have lots of tools at your disposal to fight off mean people.

For instance, in this scenario, you could find out about this woman’s life and realize she’s had an abusive childhood and as a result needs to be overly controlling of her environment. Developing some empathy for her may be the first step to developing a better relationship with the witch.

So don’t quit just yet. Lots of women in the workforce need you as a role model who will prove that it’s possible to make it in corporate America. And, bit by bit, we will fashion together a workplace that’s more embracing of our collective cultures. These women need you there to help them fight the dragons.

Do you lose your identity if you’re punctual?

Monday, October 25th, 2010

reloj

I had been walking in the wrong direction for twenty minutes with the most impossible heels. The pain in my right shoulder was getting worse from carrying my computer, and the worst part was that I was going to be late for my presentation. I couldn’t get anyone to answer my calls and I was about to lose it when I was finally able to reach my contact and let her know about my delay. When I arrived, mortified about the situation, my host, who was kindly waiting for me at the door, said with a smile: “Don’t worry about it, we are on Latino Time.”

For the first time in my life, I was happy that LT existed. Having been raised by a German mother, more often than not, I live in conflict with the timing of many of my Latino friends and colleagues as I’m usually the first to arrive everywhere.

During the presentation, part of the Hispanic Heritage Month celebrations, I spoke about how we can modulate our levels of Latinoness throughout the day and depending on the roles we play.

Going back to the example, in this country, punctuality is key in obtaining others’ respect and trust in you. So you must consider it a basic trait for professional success. But, if you have a party at your house over the weekend you’re probably not going to send out invitations with a beginning and an end time as most Anglos would. We experience time more as an event than as a chronological episode. Which means that the party starts when you arrive and it ends whenever it ends. For Anglos it is more like an 8- 11 PM thing.

The problem begins when this trait spills over your professional space and you are consistently late to turn in your projects or to a conference call. This can have an immediate impact on your personal brand as your colleagues and bosses make assumptions about you being untrustworthy.

It’s good to realize that you are not just Latino (or Mexican, Salvadorean, Dominican, etc.) Your identity is made up of numerous experiences, influences, beliefs, culture, religion, sexual orientation, race, and so on. Paradoxically, modulating the Latino aspects that may negatively affect your career opportunities is something very Latin.

We are a group known for our adaptability therefore, there’s no need to fear losing your Latino identity as a result of making these small adjustments. The ability to manage the different aspects of your identity according to the situation you are in or the role you’re playing at the time, is the best demonstration of your Latinoness in action.

If you liked this blog, you may also like: Uncover your Latinoness

Using social networking for career development

Wednesday, August 18th, 2010
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Social networking is no longer an option. It’s part of how we live our lives. And it’s not just an intrinsic part of how we organize our weekends and how we get parties going but of how we research information, market our products and services and find out about a future recruit.

So, the question is, how are you using it to build your professional image? Are you creating a relevant presence online? Are you contributing to conversations around your profession or industry? Or are you only posting your profile and letting it sit unattended?

The people who use social networking platforms most successfully are actively engaged with the communities that they join. They post interesting comments and links, they contribute content and forward other people’s content. They participate in discussions and answer questions. They share personal experiences without being too self-absorbed. They are careful with the material they post because they know that it’s hard to get rid of it once it’s online.

Some examples of positive engagement are:

1) On Linkedin, try to answer questions related to your expertise. The more active you are in answering questions posted by others, the more visible you become. This in turn, allows recruiters and people who might be looking for your talent to contact you.

2) On Facebook, “Like” groups that connect with your interest and post smart, sensible comments frequently. Again, the community will notice you and you will soon make friends and professional acquaintances.

3) On Twitter, Re-Tweet those tweets that relate to your area of expertise, engage with people who follow you and explore their profiles to find out more about them. Comment on their tweets and establish a direct conversation with them.

Of course the idea is to take your online relationships to the next level and make them real through one on one chats, phone conversations, text messages or even a meeting face to face. At Latinos in College, for instance, we have hired most of our interns and Ambassadors through our Facebook page. It’s a great way to get to know people (we get to see what they write, how they write, and what they are passionate about) even before they know that we are screening them!

Right now, there are tons of recruiters out there doing the same thing with you!

Are you about to commit honesticide?

Monday, June 28th, 2010

Mafalda, a character created by Argentine cartoonist Quino, known to be brutally honest

Mafalda, a character created by Argentine cartoonist Quino, known to be brutally honest


At a recent panel during the National Association of Hispanic Journalists (NAHJ) conference in Denver, a participating journalist asked what suggestions we had regarding how to talk about yourself when you first meet someone who could be a source or a prospective boss. “Should I just say whatever comes to mind? Should I just be me? Because I don’t want to pretend I’m someone I’m not…”

This is a question we all struggle with on an ongoing basis. When we meet someone new at a personal level, when we are interviewing for a job, and even in a well-established relationship with a partner, a friend, a work colleague or a boss. How much do you say about what you think at any given moment? How much do you filter?

Contrary to the most common advice that people give, namely that you should be yourself and say what you think, I believe we’ve been gifted with rationality and the ability to edit ourselves for a reason. In the context of building relationships, if the goal is to develop trust with someone, you don’t want to commit honesticide. That is, suicide by honesty. There’s little value in revealing details about yourself, your thoughts or your feelings if you know – or suspect—it will either hurt the other person or at the very least not go over well with them. There are things that, once said aloud, cannot be taken back no matter how much you apologize. Case in point, General Stanley McChrystal.
(And please understand that I’m not talking about standing up for what you believe even if it’s in disagreement with other team members.)

What happened to General McChrystal (losing his job following comments he made about the Obama administration to Rolling Stone magazine,) happens to ordinary citizens every day in a less splashy way. Think about it: Did you close the door during a job interview when you talked poorly about your former boss? Did you alienate a girlfriend when you told her that you couldn’t figure out what her hot boyfriend sees in her? Did you miss a promotion because you friended your boss on Facebook and kept posting your personal comments (“being yourself”) as if he/she weren’t there?

In any given situation, it is critical to trust your gut to tell you what information you need to convey and what is actually TMI. Sometimes not saying something will get you in trouble, and at other times the opposite is true. I’m not suggesting that you lie about who you are or pretend to be someone you’re not. Believe me, your identity will not suffer if you forgo telling your new acquaintance that you are wearing pink underwear for good luck.

In a world where we’ve all become voyeurs and where we share way too much through our social networks, the risk of committing honesticide is ever present. Just keep in mind that being completely honest all of the time is not only impossible (as an observer of the world you only have part of the truth) but more importantly it is also overrated.

Non traditional ways to pay for college

Saturday, March 13th, 2010

mariela-in-cnn-newsroom

    I was recently interviewed on CNN’s Newsroom about paying for college and I decided to tackle this issue from a different angle. Instead of talking about loans and scholarships, as I often do, I talked about students conducting their own fund raising efforts (via raffles, concerts, parties, email writing campaigns) and exploring micro lending.

    The idea is to encourage the Millennial generation that is so technologically savvy and so adept at social-networking to think about paying for college from a different perspective.

    At our Latinos in College initiative we’d like to start a conversation about what you are doing to pay for school other than taking out a loan or getting a job. We’d like for you to share with the world ideas that might help students become empowered when it comes to paying for college.

    Here are a few more ideas for all of us who are interested in this issue to consider:

  • Start thinking about micro-lending to fund individual student loans
  • Engage college alumni in micro-donating to students at their Alma maters. A group of Harvard grads has started a company to lend money to Harvard students and are looking to expand soon.
  • Support websites like Lily’s List that function as wedding registries where students can list their loan and provide it to their family and friends to help them repay it
  • Open 529 plans for young children and provide the number to friends and relatives so that they can deposit money over the years in lieu of expensive gifts. (Here’s a question for you: wouldn’t it be better for your daughter to have a good education paid for, rather than a huge Quinceañera or Sweet Sixteenth birthday party?)

    I’m looking forward to hearing what you are doing that is working. This is just the beginning of a larger conversation!