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How to Start an Informal Mentorship

Mentorship is a hugely important tool for professional growth. It benefits both the mentor and mentee in terms of learning, engagement and confidence. As a result, organizations benefit too. Research shows that employees in mentoring relationships are not only more positive and productive, they’re also more likely to stay at the organization and advance within it.

Sadly, mentorship is not always a valued part of every organizational culture. A study conducted by Robert Walters recruiting consultancy showed that 83 percent of professionals would like to be involved in a mentoring program, yet only 29 percent are in workplaces that offer them.

[See: 25 Best Business jobs for 2017.]

That doesn’t mean you can’t still benefit from creating your own mentorship program. If no formal structure exists, you can always create your own informal mentorship. Here are some steps to take:

Identify the Right Match

Whichever side of the equation you’re on, determine who you’d like to partner with. If you’re looking for a mentor, find that person who has what you want — the career, the character, the knowledge, the experience, the reputation, etc. You also want to find someone who is approachable and appears willing to share his or her expertise with you.

As a potential mentor, you can also identify good candidates for mentorship. Look for someone who can really benefit from your guidance — and wants it. A good mentee is someone who is ambitious and eager to learn, but also someone who won’t require too much hand-holding.

Remember that a mentorship only works if both parties are invested in it, so be discerning in your selection.

[See: Famous CEOs and Executives Share Their Best Career Advice.]

Propose Your Idea

Once you think you’ve found a good partner, share your idea. Depending on your goals and your own personal style, you may or may not choose to define this as a “mentorship.” It’s perfectly acceptable to use other language that feels more natural.

For example, as a mentee approaching a potential mentor, you can say something like this: “I really admire your career and who you are as a professional. Would you be willing to share some of your experiences with me? I’d love to learn all I can from you.”

As a mentor approaching a potential mentee, you can say something like this: “I see so much potential in you and would love to support you in your career. I think I could be of use to you; would you like to get together and chat?”

Again, find words that feel comfortable for you, and recognize that some people will not necessarily take you up on your suggestion. Don’t push! Your goal should be to find someone who understands the benefit of giving or receiving professional support and is excited to engage in it.

[See: 10 Ways Social Media Can Help You Land a Job.]

Establish Your “Structure”

During your initial discussion, ask the other person if he or she would like to continue working together and, if so, how they might envision that. Be sure to bring your own ideas to the table too.

Informal mentorships don’t necessarily have to have any set structure or schedule, though it can be helpful. Perhaps a weekly or monthly meeting would be useful if both parties are willing and able to devote the time.

Alternatively, as a mentor, you might simply explain that your door is open for the mentee as needed. You’re there to help him or her brainstorm solutions to problems or provide insights for learning new skills. As a mentee, you might ask if it’s OK to call on this person when facing challenges and to seek advice on career-related issues.

There are no right or wrong ways to approach this. The most important thing is to use your time wisely. Both parties must be fully engaged with the other person and come prepared to make your discussions fruitful.

Regardless of the structure you establish, be an active participant. Reach out to the other person on a regular basis just to check in, even if there is no pressing need. But again, make the conversation productive by considering what you would like to discuss first.

Mentorships can be incredibly rewarding experiences for everyone involved. They can enhance your professional life and, in some cases, can result in lifelong friendships. Don’t let the lack of a formal mentorship program prevent you from experiencing this for yourself.

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How to Start an Informal Mentorship originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. 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Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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