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Morning Notes

By WTOP Staff

Flickr photo by yhrtsai

Pepco Will Again Request Rate Increase — As appeals to its July rate increase case wait in court, the power company announced on Wednesday it will file another rate increase request by the end of the year. Pepco Chairman Joseph Rigby told investors the Maryland Public Service Commission’s decision to grant $27.9 million of its $60.8 million rate hike request this summer means the company must make another request. Rigby did cite upfront surcharges, such as the controversial “tracker” payment the PSC did approve over the summer, as a way to recover costs. Pepco holdings posted $110 million in net income in the third quarter of 2013, up from $87 million in the third quarter of 2012. [The Gazette]

Whitman To Donate Musical Proceeds To Wounded Vets — Students in Walt Whitman High School’s drama department will perform the musical Miss Saigon on Nov. 21, Nov. 22 and Nov. 23 at the school and they’ll do so with a charitable focus. Proceeds from ticket sales will go to Team River Runners, a nonprofit for wounded Iraq and Afghanistan service members recovering at Walter Reed. Any active or veteran service members will get free tickets to the show. [Whitman Drama]

Feds Push Forward With White Flint Leasing, Despite Congressional Concern — The Nuclear Regulatory Commission says it will go ahead with a deal to renew its lease at Two White Flint, owned by Lerner Enterprises. This despite concerns from House lawmakers who say the Commission leased too much space in White Flint that won’t be filled. The deal will also have NRC hand over a portion of its its space at Three White Flint, the new office building from LCOR, to the General Services Administration for use by other federal tenants. [Washington Business Journal]

Public-Private Purple Line Is Approved — The state’s Board of Works, made up of Gov. Martin O’Malley, Comptroller Peter Franchot and Treasurer Nancy Kopp, on Wednesday unanimously approved a public-private partnership approach to building the 16-mile, $2.2 billion light rail. [Washington Post]

Poll Tracks Gubernatorial Name Recognition, Minimum Wage — A Goucher College poll shows Democratic gubernatorial candidates Anthony Brown and Doug Gansler have about even name recognition. Heather Mizeur, the other Democratic in the race, trails. The poll also asked about raising Maryland’s minimum wage to $10 per hour, up from the federally mandated $7.25 per hour. Seventy percent of those polled said they supported raising the minimum wage to $10 from $7.25. Twenty-seven percent opposed it. [Maryland Juice]

Flickr photo by yhrtsai

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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