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Asia stocks rise modestly ahead of US, China data

By WTOP Staff

YOUKYUNG LEE
AP Business Writer

SEOUL, South Korea (AP) — Asian stock markets posted modest gains Tuesday as investors treaded cautiously ahead of U.S. and Chinese economic reports later this week.

KEEPING SCORE: Japan’s Nikkei 225 added 0.5 percent to 15,604.80 and South Korea’s Kospi rose 0.6 percent to 2,061.95. Hong Kong’s Hang Seng inched up 0.2 percent to 24,483.85 while China’s benchmark Shanghai Composite gained 0.1 percent to 2,180.52. Australia’s S&P/ASX 200 was down 0.1 percent to 5,570.90. Markets in India, Indonesia and Malaysia were closed for holidays.

EARNINGS: Companies are in the middle of corporate earnings season. Later Tuesday, Japanese carmaker Honda will report its quarterly financial results after the market close. Asian tech heavyweights Samsung Electronics Co. and Sony Corp. will release their quarterly financial results on Thursday.

ANALYST TAKE: William Leys, sales trader at CMC Markets, said markets were calm before the data storm, forecasting that trading volume would become heavier toward the end of this week. “Caution is the pre-eminent theme across global markets at the moment, as investors anticipate a spate of key economic data due later in the week, amid a backdrop of persistent geopolitical concerns,” Leys said in a commentary. “With a variety of weighty announcements looming, the stage is set for an action packed end to the week.”

DATA RUSH: On Wednesday, the U.S. will release gross domestic product figures for the April-June quarter. The world’s largest economy is expected to pick up after severe cold in the winter dampened growth the previous quarter. The Federal Reserve is scheduled to issue a statement after wrapping up a two-day policy meeting on Wednesday. On Thursday, a report on China’s manufacturing industry will give investors an update on the health of the world’s factory floor. On Friday, the U.S. will release its monthly jobs data. Analysts estimate that the U.S. labor market added between 235,000 and 255,000 jobs in July.

RUSSIA SANCTIONS: Tensions between Russia and the West may resurface as the West is expected to slap another round of sanctions against Russia. On Monday, the White House said the United States and European Union plan to impose new sanctions against Russia this week, including penalties targeting key parts of the Russian economy. The EU had previously refrained from stepping up sanctions in the wake of the shooting down of a Malaysian jetliner over a rebel-controlled region of Ukraine, killing 298 people.

DOLLAR DEALS: There was upbeat and downbeat news from the U.S. trading day but it didn’t get much traction in Asian markets. Discount store chain Dollar Tree said it was buying rival chain Family dollar and real estate listing service Zillow announced a deal to takeover Trulia, also in the property listing business. The National Association of Realtors said its index of U.S. pending home sales, a barometer of future purchases, slipped 1.1 percent to 102.7 in June. The contraction was bigger than forecast and indicated a cooling of the real estate market this summer.

CURRENCIES, OIL: The euro retreated slightly to $1.3434 from the previous session’s $1.3439. The dollar drifted higher to 101.94 yen from 101.84 yen. The price of oil dipped, with benchmark U.S. crude for September delivery down 34 cents to $101.33 a barrel.

WALL STREET: U.S. stocks were little changed on Monday with the Dow Jones industrial average up 0.1 percent to 16,982.59 and the Standard & Poor’s 500 index closing at 1,978.91, nearly unmoved. The tech-heavy Nasdaq composite index slipped 0.1 percent to finish at 4,444.91.

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

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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