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Recovery from Balkan floods will cost billions

By WTOP Staff

AIDA CERKEZ
Associated Press

SARAJEVO, Bosnia-Herzegovina (AP) — Recovering from the record flooding of the past week will cost Bosnia and Serbia billions that neither country has, officials said Wednesday.

Although there’s no official total for flood damages, the Raiffeisen Investment Group said in a note to investors that preliminary estimates are nearly 1.3 billion euros ($1.8 billion) for Bosnia alone. Bosnian President Bakir Izetbegovic said the damage bill would reach the billions.

In neighboring Serbia, Prime Minister Aleksandar Vucic said damages could reach 1.5 billion euros ($2 billion).

Both countries already have opened negotiations with the European Union to support reconstruction efforts. Separately, Bosnia’s Serb region has opened talks with its ally Russia.

The flooding affected 40 percent of Bosnia, Foreign Minister Zlatko Lagumdzija said. It wrecked the main agriculture industry in the northern flatlands, wiping out infrastructure, farms, buildings and homes. One quarter of the country’s 4 million people have been affected by the six days of floods and 2,100 landslides.

“This country has not experienced such a natural cataclysm ever,” Lagumdzija said Wednesday.

The flooding has led to at least 51 deaths: 27 in Serbia, 22 in Bosnia, and two in Croatia.

Serbia’s minister for construction, transportation and infrastructure, Zorana Mihajlovic, said 3,500 kilometers (2,200 miles) of roads have been destroyed or damaged and 30 percent of railway lines are closed.

“It’s an enormous tragedy,” said Kristalina Georgieva of the European Commission’s International Cooperation, Humanitarian Aid and Crisis Response unit. The EU has deployed rescue workers, helicopters, boats, tents and other aid from 16 member countries and plans more help.

“Right now, we are at the emergency assistance phase,” she said, suggesting a focus on saving lives and preventing the spread of disease. In the next phase, EU and local experts will assess the damage.

Bosnia has one of the weakest economies in Europe and an unemployment rate of up to 44 percent. Almost no one has property insurance, meaning many residents lost virtually everything.

On Wednesday, a mine exploded near the northern village of Cerik, where the flooding had moved one of the more than 9,000 minefields left over from Bosnia’s 1992-95 war. Nobody was hurt.

Serbia, like much of the Balkans, is poor. The country’s economy has failed to recover fully following the wars and international sanctions in the 1990s, and also is hobbled by mismanagement and corruption. The unemployment rate officially stands at 20 percent but is much higher in reality.

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Jovana Gec reported from Belgrade, Serbia. Associated Press reporter Irena Knezevic in Banja Luka, Bosnia, contributed to this report.

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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