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Cost estimate for Dulles Rail Project on target

By WTOP Staff

Adam Tuss, wtop.com

WASHINGTON — A big step forward for the Dulles Rail Project Tuesday, as Metro riders could be on a train to the Airport in just a few years.

The Metropolitan Washington Airports Authority (MWAA) has put a definitive cost estimate on the second phase … and the cost estimate is right on target.

There have been many questions about the overall price tag for Phase 2 — the 11.4 mile section that will run from Reston to Dulles International Airport and continue into Loudoun County. The head of the project said Tuesday the official estimate is about $2.7/$2.8 billion, which is the price estimate project leaders were hoping for.

It wasn’t long ago that Phase 2 was carrying a $3.8 billion price tag. But decisions to eliminate a more expensive underground Metro station at Dulles Airport, as well as cost-cutting agreements from the federal government, Loudoun and Fairfax counties, MWAA and the Commonwealth of Virginia, brought the anticipated cost estimate down to $2.8 billion.

If all parties agree to move forward, MWAA says the contract could be awarded in January of 2013, and Phase 2 could be built and open to riders in 2018.

“We’re very pleased,” said Pat Nowakowski, head of the project. “The numbers are consistent with the numbers that we have talked about through the process.”

The $2.7/$2.8 billion number comes from what’s known as a “preliminary engineering” analysis from a design team.

MWAA also hired an independent consultant to scrub the project and come up with a “second opinion” on the ultimate cost estimate. The design team provided the $2.7 billion number, the independent consultant provided the $2.8 billion number. The reason for the difference in price has nothing to do with any physical part of the project, rather the adjusted cost for inflation over the length of the project.

So why does this $2.7/$2.8 billion figure matter?

For the first time, all the invested parties in the project can take a look at the cost estimate and decide whether they are in or out. If the number had come in any higher than $2.8 billion, there could have been further complications that could have put the project in jeopardy.

Loudoun and Fairfax counties both have 90 days to review the figures, and decide if they want to move forward with the project.

Fairfax County Board of Supervisors Chair Sharon Bulova has told WTOP that the project absolutely is moving forward. Loudoun County has explored the possibility of dropping out of the project altogether.

MWAA says there are already about 10 firms in the running to win the contract to design and build Phase 2. Those companies will eventually be trimmed to five, and an ultra-competitive process to win the contract for the project is expected. That means there is great incentive to build the project for a lower cost than $2.8 billion.

“We always hope that we get better bids than what we have budgeted,” Nowakowski said.

All parties involved are trying to keep the overall cost of the second phase down because higher costs could lead to much higher tolls on the Dulles Toll Road. Seventy-five percent of the financing for Phase 2 is coming from tolls.

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(Copyright 2012 by WTOP. All Rights Reserved.)

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

By WTOP Staff
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. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. 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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