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Big Education Bills affecting all Generations in the Workplace

Posted By Genesis Garcia, ASBA, Wednesday, June 8, 2016

Original article posted on Employee Benefit News

Student debt isn’t just negatively affecting people’s ability to save enough for retirement. It’s also making it very difficult for people to buy cars or houses, open up a credit card, or start a family.

According to a recent survey by Kelton Global, on behalf of EdAssist, 72% of individuals with student debt said it was hurting their personal relationships and stalling their careers. Seventy-eight percent said that it has impacted their ability to save for retirement.

As college costs continue to soar, so are the amounts of student loan debt people are accruing and this doesn’t just apply to millennials. Many older people are carrying debt for their children or grandchildren rather than using that money to make sure they have a secure retirement.

“It was surprising that almost two-thirds of baby boomers are carrying student loan debt. I would have thought they would have been relieved of that; they would have paid off that loan debt,” says Chris Duchesne, vice president of client service and client relations for EdAssist in Watertown, Mass.

EdAssist is an education program service provider. Not only does it offer student debt loan repayment as a benefit but it also offers tuition assistance benefit programs that employees can take advantage of when furthering their education.

Continuing opportunities for education and development are really important for millennials, the company finds. More than half of those surveyed said that those opportunities for continuing education are more important than regular pay increases. Tuition assistance and student loan debt repayment benefits together make great recruitment and retention opportunities for employers, says Duchesne.

The survey found that 64% of respondents would be reluctant to go back to school for an advanced degree because their current student loan debt is so high and 63% said that the cost of a future degree would keep them from their desired education.

“Between taking on debt for dependents and the high demand for graduate degrees in today’s workforce, people of all ages are carrying student loan debt. As an employer we want to see our employees lead happy and fruitful lives. With the amount of debt degree-holding individuals are facing today, we feel it is right from a recruitment and retention perspective to help ease this burden for our employees,” says John Eshleman, manager of benefits for Memorial Hermann Health System in Houston, Texas, which offers student loan repayment benefits to employees.

Seventy-one percent of millennials who graduated from college in 2015 entered the workforce with student loan debt. The average amount of debt was $37,172. This generation is one of the most educated, with 61% of millennials having attended college, compared to only 46% of boomers, according to the survey.

“By offering this sort of program, it is psychologically meaningful because you have an option as an employer to give more money, but the fact is this is directed to student loan repayment, focusing on people at different life stages than other benefits address,” Duchesne says.

Many benefits programs are directed at workers with families or those over the age of 35. There’s not a lot of programs that target the other end of the spectrum.

NVIDIA, a Silicon Valley technology company, began offering EdAssist’s student loan repayment option to its employees on Jan. 1, 2016.

“Our intent was to improve employees’ experience. We know that student loan debt is one of the biggest struggles that new college grads are facing today, so what we wanted to do is extend our help as a benefits team to help them address that struggle so they can focus on other things,” says Andrea Trudell, director of global benefits for NVIDIA.

“What it does from my perspective is it prevents them from living their best life,” she says. “Their student loan debt is so significant, usually upwards of $40,000 or more. For new college grads, they are starting out at a lower pay so they are struggling to meet necessary needs like housing and food and we wanted to help out with that.”

The program is very popular at NVIDIA. It pays up to $6,000 per year, up to a $30,000 lifetime maximum, toward the employee’s principal student debt loan payment. Employees are eligible to apply for the program up to three years after the date they graduated.

EdAssist said that the student loan crisis is “more than a crisis of cash; it’s a societal crossroads. People are desperate for help.”

According to its research, nearly half of respondents said they’re so stressed they’d prefer help with school debt over budgeting, credit card debt and even retirement. Nearly one-third of respondents said that debt repayment is the most important job benefit, according to EdAssist.

By

Paula Aven Gladych

 

Tags:  education  student 

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ASBA Kicks off Arizona Speaks Series with A 2016 Point of View for Small Business

Posted By Julie Armstrong, Arizona Small Business Association, Thursday, February 18, 2016

ASBA Kicks Off Arizona Speaks Series with A 2016 Point of View for Small Business

 

The Arizona Small Business Association (ASBA) kicked off their newest series, Arizona Speaks, with a bang last week!  The first session, A 2016 Point of View for Small Business, presented a high-level view of the key issues facing small business today.  All 5 sessions of the series will include panel discussions with industry leaders giving business owners and managers, ideas and strategies that will help keep them relevant in this new economy.  Speakers and topics from the most recent session included:

 

  • Charlie Berry, Senior Counsel, Clark Hill – Access to Capital & Financing for Small Business
  • Lisa Graham Keegan, Principal Partner, The Keegan Company – State of Education in Arizona & Issues Related to Small Business
  • Gunnar Light, Managing Partner, Global G Group – Going Global & Understanding if Your Small Business Can
  • Park Howell, Founder & President, Park&Co – Story Telling & Why It’s Important
  • Jim Small, Editor, Arizona Capitol Times – Public Policy & Getting Involved as a Small Business Owner

 

ASBA would like to personally thank CopperPoint Mutual Insurance Company for not only sponsoring Arizona Speaks – A 2016 Point of View for Small Business, but for agreeing to sponsor the remaining events.  The upcoming session in Arizona Speaks, titled Shooting Straight in your Small Business, is sure to bring even more buzz, as ASBA takes the event out onto the golf course!  You can expect to hear from top-notch professionals on topics including: knowing your competition, developing your brand, building your team strategy, keeping your business on course, and discovering solutions that save your business strokes.  For more information on the series and upcoming session, be sure to reach ASBA at www.asba.com/azspeaks or email Julie Armstrong at jarmstrong@asba.com.

Tags:  education  finance  global  public policy  small business 

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Year Up Arizona Helping Young Adults Gain Employment

Posted By Rhette Baughman, Arizona Small Business Association, Thursday, July 16, 2015

Phoenix leadership gathered at the Maricopa Skills Center this week to celebrate the Phoenix launch of Year Up, a program that connects community college students with internships in Fortune 500 companies.

Thirty-five students at Gateway Community College are participating in Phoenix's first year of Year Up, which provides students with six months of classroom training in technical skills, and then connects them with companies for a six month internship. All students who keep up with the classroom work and requirements are guaranteed an internship through the program, said Arizona Year Up executive director Kim Owens.

"Our success in Phoenix is dependent on the fact that everyone has the opportunity to succeed," Phoenix Mayor Greg Stanton told the group. "We are all in the business of success, and you are great models of success in this community."

The students have completed five months of classroom experience, and will begin their internships in June. The companies they will work for include JPMorgan Chase, American Express and Liberty Mutual Insurance."

In this program, I think of the students as the gasoline and the program like the spark of fire to help us get started," said Leonardo Ramirez Sandoval, a programming student who will intern at American Express over the summer. "It has really been an amazing experience for me." 

Ramirez Sandoval said he hopes to run for public office someday, and said he has made valuable connections to Phoenix business leaders through Year Up.

Students are paid a weekly stipend during their internships, which can increase or decrease based on performance.

Phoenix was one of more than 80 cities to apply to join Year Up, which includes about 2,700 students nationwide.

All participants this year are college students, but Phoenix leaders hope programs like Year Up will help lower Phoenix's rate of "disconnected" youth, who are people ages 16 to 24 who do not go to school or have jobs.

"Unfortunately, Phoenix has the highest rate of disconnected youth in the country," Stanton said. "We hope programs like these will encourage young people, who thought they didn't have the opportunity, to go back to school and try and get a job, or finish their high school degree."

Curtis Reed, Market Manager for JPMorgan Chase, presented a $200,000 grant to help support the new program, which he said is mutually beneficial for students and for companies in Phoenix.

"As a company, we want to be able to keep talented people," Reed said. "This is a great way to give students some experience in our internships, which is a great way to get a job at Chase. About 80 percent of our interns receive job offers after their internships are over."

Rufus Glasper, Maricopa Community College District Chancellor, talked to the students about making professional connections, and said networking and professional relationships will be their keys to success."

You don't have to know everything," Glasper said. "You just have to know somebody."

Originally posted at: http://www.azcentral.com/story/news/local/phoenix/2015/05/05/year-up-phoenix-students-fortune-companies/26917957/ 



Do you know an 18 to 24 year old with a GED or a high school diploma who doesn’t know what to do next? Year Up Arizona can help. Year Up is a free, intensive, one year training program for young adults that provides hands-on technical and professional skill development along with internships at top companies across the Valley. Unlike other programs, Year Up students earn money while also earning college credits through Gateway Community College with a focus on Business Operations or Business IT specializing in computer programing. If you know someone who is ready to work hard and get ahead, have them contact Year Up Arizona today at 480-376-0898 or apply online at yearup.org/apply. Registration for August classes with January internships closes on Friday, August 14th.
 Spots are filling fast so apply today.


Tags:  education  employment  jobs  students 

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FTC to examine privacy issues with 'cross-device tracking'

Posted By Wendy Urias, Merchants Information Solutions, Inc., Wednesday, May 13, 2015

By Mark Pribish

Vice President and ID Theft Practice Leader

Imagine a private investigator watching your every move and listening along the way as you go about your daily activities. Welcome to "cross-device tracking," the digital investigation and tracking of our entire online lives, from social media to general Web searches, regardless of the device or platform used.

Nearly every time you use the Internet from laptops, smartphones, tablets and wearable devices that interact with applications, platforms, publishers, and software, you are being tracked by advertising and marketing companies. This is called cross-device tracking.

It's almost impossible to protect your privacy as a consumer when businesses are targeting you for marketing and advertising purposes, whether you are using multiple devices or not.

The Federal Trade Commission has taken notice. It announced last week that it is going to examine privacy issues related to advertising and marketing companies that track consumers across devices connected to the Internet.

In the simplest of terms, this tracking is done by researching consumers' search engine habits and then customizing a marketer's value proposition for each one.

Big data (as in database research, analytics and marketing) has been going on for decades. One example of big data is the use of cookies, in which marketers target potential customers by tracking their browsing habits, including sites visited, age, marital status and political and religious affiliations.

The beauty of cookie tracking is that it's not limited to when a consumer is on a particular site but throughout the entire time a consumer is browsing. This means that marketers now can direct offers and advertisements that are specific enough to motivate a product purchase.

The FTC is soliciting public comments on these questions:

  • What are the different types of cross-device tracking, how do they work, and what are they used for?
  • What types of information and benefits do companies gain from using these technologies?
  • What benefits do consumers derive from the use of these technologies?
  • What are the privacy and security risks associated with the use of these technologies?
  • How can companies make their tracking more transparent and give consumers greater control over it?
  • Do current industry self-regulatory programs apply to different cross-device- tracking techniques?

Your comments can be submitted online via the following link: https://ftcpublic.commentworks.com/ftc/crossdeviceworkshop/

The FTC will use your responses to examine the privacy issues and security risks created by the use of cross-device tracking.

Digital private investigators are watching your every online move. Let your voice be heard by submitting your comments to the FTC on cross-device tracking. 
Imagine a private investigator watching your every move and listening along the way as you go about your daily activities. Welcome to "cross-device tracking," the digital investigation and tracking of our entire online lives, from social media to general Web searches, regardless of the device or platform used.

Nearly every time you use the Internet from laptops, smartphones, tablets and wearable devices that interact with applications, platforms, publishers, and software, you are being tracked by advertising and marketing companies. This is called cross-device tracking.

It's almost impossible to protect your privacy as a consumer when businesses are targeting you for marketing and advertising purposes, whether you are using multiple devices or not.

The Federal Trade Commission has taken notice. It announced last week that it is going to examine privacy issues related to advertising and marketing companies that track consumers across devices connected to the Internet.

In the simplest of terms, this tracking is done by researching consumers' search engine habits and then customizing a marketer's value proposition for each one.

Big data (as in database research, analytics and marketing) has been going on for decades. One example of big data is the use of cookies, in which marketers target potential customers by tracking their browsing habits, including sites visited, age, marital status and political and religious affiliations.

The beauty of cookie tracking is that it's not limited to when a consumer is on a particular site but throughout the entire time a consumer is browsing. This means that marketers now can direct offers and advertisements that are specific enough to motivate a product purchase.

The FTC is soliciting public comments on these questions:

  • What are the different types of cross-device tracking, how do they work, and what are they used for?
  • What types of information and benefits do companies gain from using these technologies?
  • What benefits do consumers derive from the use of these technologies?
  • What are the privacy and security risks associated with the use of these technologies?
  • How can companies make their tracking more transparent and give consumers greater control over it?
  • Do current industry self-regulatory programs apply to different cross-device- tracking techniques?
Your comments can be submitted online via the following link: https://ftcpublic.commentworks.com/ftc/crossdeviceworkshop/

The FTC will use your responses to examine the privacy issues and security risks created by the use of cross-device tracking.

Digital private investigators are watching your every online move. Let your voice be heard by submitting your comments to the FTC on cross-device tracking. 

Tags:  Education 

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