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5 things to know about EPA’s power plant rule

The Associated Press

Five things to know about the Obama administration’s plans to reduce carbon dioxide emissions, the chief greenhouse gas, from power plants.

HOW MUCH POLLUTION WILL IT REALLY CUT?

The proposal announced Monday calls for the nation’s fossil-fuel fired power plants to reduce carbon dioxide emissions by 30 percent from 2005 levels by 2030. But Environmental Protection Agency data shows that the nation’s power plants already have reduced carbon dioxide emissions by nearly 13 percent since 2005, or about halfway to the goal. The EPA also says the regulation will also reduce other pollutants that create lung-damaging smog and soot by more than 25 percent by 2030.

HOW DOES THIS COMPARE WITH OTHER ACTIONS ON GLOBAL WARMING TAKEN BY THIS ADMINISTRATION?

It turns out that Obama’s fuel economy efforts cut a bigger chunk of the nation’s greenhouse gas emissions. Obama tackled the emissions from the nation’s cars and trucks, announcing rules to reduce carbon dioxide emissions by doubling fuel economy. That standard will reduce carbon dioxide by 6 billion tons over the life of vehicles covered by the program. The power plant proposal will cut carbon dioxide emissions by 5 billion tons from 2020-30. Another proposal to cut pollution at newly built power plants will have little real-world impact because not many coal-fired power plants are scheduled to be built.

WHY POWER PLANTS?

Power plants are the largest source of the gases blamed for global warming, accounting for 38 percent of all greenhouse gases in the U.S, but there are no national limits on carbon pollution from power plants. About three-quarters of the power plant emissions are from coal-fired plants. The average age today of the coal-fired generating fleet is 42 years, and 11 percent of units are more than 60 years old. By 2025, that average age will grow to 49, with 20 percent of units 60 years or older.

WILL IT MAKE A DENT IN GLOBAL WARMING?

A small one. The rule will push the U.S. closer to the 17 percent reduction from 2005 levels by 2020 it promised other countries at the start of Obama’s presidency, but it will fall far short of the global reductions scientists say are needed to stabilize the planet’s temperature. That’s because U.S. fossil-fueled power plants only account for about 6 percent of global carbon dioxide emissions. However, the administration is hoping this move shows other countries the U.S. is serious about the problem when it begins negotiations this fall toward a new, binding international treaty.

WHAT WILL IT MEAN FOR MY STATE?

It depends on where your state gets its power. The EPA customized emissions-reduction targets for each state based on their sources of electricity. Details on each state can be found here: http://1.usa.gov/1nIAKgp.

States will have to submit complete plans no later than June 2017 if they act alone, and no later than June 2018 if they work with other states. They can meet the goals by investing in energy-efficiency programs, expanding renewable energy, upgrading infrastructure and dispatching coal-fired power plants less or switching coal-fired plants to natural gas. They could even tax carbon dioxide emissions if they choose. Already 47 states have programs to boost efficiency and reduce demand for electricity, 38 have set targets for renewable energy, and 10 have programs that cap carbon emissions from power plants and allow them to trade pollution credits.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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. 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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