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Stocks still at record levels…Yellen: little threat to financial stability…Facebook research

By WTOP Staff

NEW YORK (AP) — Stocks continue to trade in record territory today, following a report from payroll processer ADP that business hiring surged to in June. The S&P 500 has been relatively flat all day, but it was up by a fraction in afternoon trading. The Dow is also up, but just by a little. The Nasdaq is little changed.

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen says she doesn’t see a need for the Fed to start raising interest rates to defuse the risk that extremely low rates could destabilize the financial system. Speaking at an International Monetary Fund conference, Yellen said she does not see dangerous excesses in the financial system, though she does see “pockets” of increased risk-taking. She described them as isolated and able to be dealt with through regulatory changes rather than by raising rates.

LONDON (AP) — Facebook is acknowledging it conducted a psychological experiment on its users. It says the research conducted with two U.S. universities clearly “upset” people but maintains the study was done with “appropriate protections for people’s information.” Authorities in Britain, Ireland and France are investigating the study, in which researchers manipulated the news feeds of about 700,000 randomly selected users to study the impact of “emotional contagion,” or how emotional states are transferred to others.

DES MOINES, Iowa (AP) — Federal agents have charged a Chinese woman in a conspiracy to steal trade secrets from U.S. seed corn companies. Mo Yun was arrested in Los Angeles today. A federal indictment says she is one of seven Chinese nationals to be indicted as part of an operation to steal patented seed corn from fields in Iowa and Illinois and ship it to China to try to reproduce its traits. Federal prosecutors in Des Moines say the team worked for Chinese conglomerate DBN Group. Mo Yun is the wife of DBN’s chairman.

NEW YORK (AP) — Target is asking customers not to bring firearms into its stores. Interim CEO John Mulligan calls it “a complicated issue” but says walking into a Target with a gun “creates an environment that is at odds with the family-friendly shopping and work experience” the company strives to create. In many states, carrying unconcealed guns in public is legal. A Target spokeswoman says today’s statement is a “request and not a prohibition,” and the company does not plan to confront armed shoppers. Target does not sell guns.

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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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