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SBW: Consignment Shop With A Traditional Style

By WTOP Staff

Inside the Gallery St. Elmo furniture consignment shop on St Elmo Avenue

This is Small Business Weekly, a recurring feature in which we’ll spotlight a small, independently owned business in Bethesda or Chevy Chase. Got a business you think we should check out? Drop us a line at desk[at]bethesdanow[dot]com.

For the most part, the long, narrow buildings of Woodmont Triangle used to be home to auto repair shops and other light industrial uses.

At Gallery St. Elmo (4938 St Elmo Ave.) one of the walls was originally an overhead garage door. It’s now painted and blanketed with luxury furnishings on consignment, an apt analogy for owner Jill Martin’s mission of reinventing old products.

“I’m very careful about the quality,” said Martin, who took over ownership of the store about three years ago after working there as an employee. “We have sort of a solid, upscale look. We’re not trendy. We’re traditional but very useful and people want to be able to buy this furniture.”

The Gallery offers the pricey couches and chairs you’ll see at Ethan Allen, Pottery Barn, Crate and Barrel and others for up to a third or even half off the original price. It also sells some antiques, contemporary furnishings and jewelry.

Martin has about 6,500 consigners in the store’s database and sends a weekly email detailing new stock to about 2,500 subscribers.

“You have to be online,” Martin said. “And those are people who have given me their email and are interested in seeing the new things we have. I think you’ve got to be really careful with overreaching or overloading people with information.”

The store was featured in Southern Living magazine along with a number of other Bethesda furniture and gift shops that have started to make a name for downtown Bethesda’s small business community.

Martin has found solid footing selling to “the more traditional” market of Bethesda, as opposed to some of the “funkier and trendier” consignment shops she sees around the D.C. area.

The alley outside Martin’s door that used to come in handy for car mechanics is also an advantage for her. She’s constantly moving furniture into and out of the store. She hopes her need for ground-floor space won’t eventually price her out of an area where the rent continues to grow.

“In terms of [Bethesda] being a go-to destination for shopping, I think it’s very much still a work in progress,” Martin said. “This spot meets my needs. Whether or not I can continue to pay this rent is the bigger question and rent is what it’s going to all boil down to.”

Previously featured in Small Business Weekly: Sports Extra

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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