Skip to main content

Stocks edge higher…Jobless claims jump…Iowa drug maker working on Ebola vaccine

By WTOP Staff

NEW YORK (AP) — The stock market is slightly higher in early trading following a mixed batch of corporate news. Kohl’s shares are higher after the retailer’s flat profit report beat expectations. Keurig Green Mountain is up after saying it plans to raise prices, while Cisco is down after last night’s announcement that it will lay off up to 8 percent of its workforce. The Dow, S&P 500 and the Nasdaq have all been in positive territory since the open, but not by much.

WASHINGTON (AP) — Applications for unemployment benefits shot up last week. The Labor Department says weekly jobless claims climbed 21,000 to a seasonally adjusted 311,000. However, The less-volatile four-week average rose just 2,000 to 295,750. That continues to be close to averages before the start of the Great Recession in late 2007.

FRANKFURT, Germany (AP) — Europe’s shaky economic recovery has ground to a halt. The European Union’s statistics office say economic growth in the 18-country eurozone was zero in the second quarter. Europe’s biggest economy, Germany, saw a decline of 0.2 percent, while France, Europe’s second biggest, had a second straight quarter of zero growth. Economists say fears the Ukraine crisis may escalate are making companies hesitate to invest and consumers to postpone spending.

BENTONVILLE, Ark. (AP) — Wal-Mart has cut its annual profit outlook. The world’s largest retailer reports a slight 0.6 percent increase in second-quarter profit, while a key revenue measure was flat in its U.S. discount business, after falling for five straight quarters. The company also reports another decline in traffic at its U.S. Wal-Mart stores. That’s the seventh straight quarter that Wal-Mart has seen fewer shoppers.

UNDATED (AP) — An Iowa drug developer says it has enough doses of a possible vaccine for the deadly Ebola virus to launch an initial round of human testing. NewLink Genetics says the vaccine has been 100 percent effective in preventing deadly Ebola infections in non-human primates, and it acts quickly enough to show effectiveness in animals that received a typically lethal dose of the virus. The maker of an experimental Ebola drug called ZMapp say it has sent its last doses to Liberia and it will take months to build up a new supply.

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 This material may not be published, broadcast, rewritten or redistributed.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
Read Next Story

Related News

Frustration grows in Venezuela as earthquake death toll reaches 1,430

Israel and Lebanon sign framework agreement with US in ‘first step’ toward peace, Rubio says

Trump-endorsed populist poised to become Colombia’s next president as rival challenges vote