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Get Started: Business sales, women’s competition

By WTOP Staff

JOYCE M. ROSENBERG
AP Business Writer

UPBEAT ABOUT AN EXIT

Small business owners are growing more optimistic they’ll be able to get a good price for their companies, according to a survey by BizBuySell.com, an online marketplace for businesses.

More than 21 percent of prospective sellers questioned in the survey said they’re very confident they can sell their companies at an acceptable price, up from 17.6 percent in a similar survey last year.

The latest survey shows the market for businesses is shifting to one that’s better for sellers than buyers, BizBuySell.com says. The number of buyers confident in their ability to find a company at an acceptable price fell to 78.6 percent from 80.5 percent last year.

The change reflects the improving economy and the fact that companies are healthier and can fetch a higher price, says Bob House, group general manager of BizBuySell.com.

“While buyers are still finding acceptable prices overall, they are noticing the increase in asking prices and perhaps not finding as much value in the market as they did just last year,” he says.

The survey questioned 1,500 people interested in buying or selling a business.

WOMEN BUSINESS OWNERS COMPETITION

The owners of a consulting business, financial education company and a technology company are the winners of a United States Hispanic Chamber of Commerce Foundation competition for women owners.

The competition was open to all women who are the founding CEOs and who own at least 51 percent of a privately held U.S. company. The winners are:

–Gail Smith, chairwoman of Abbene/Smith Global, a consultancy based in Charlotte, North Carolina.  

–Yamila Constantino Mendez, founder of Dinero Y Mas/Money & More, a New York-based company that provides creates financial education for television and the Internet.

–Beatriz Manetta, president of Argent Associates , a Plano, Texas-based company that uses creates supply management systems.

The winners will receive publicity through Cosmopolitan Magazine for Latinas, Comcast NBCUniversal Telemundo, the Kauffman Foundation, Doral Bank, Facebook and Google.

ONLINE SEMINAR  

SCORE, the organization that provides free counseling to small businesses, holds an online seminar on Thursday to help women who own or want to start a business. It starts at 1 p.m. Eastern time. Learn more and register at http://tinyurl.com/mxtkqh8

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Follow Joyce Rosenberg at www.twitter.com/JoyceMRosenberg

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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