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World markets gain but Thailand shaken by coup

By WTOP Staff

LONDON (AP) — World stock markets were mostly higher Friday after Russia promised to respect election results in Ukraine, suggesting an easing in the region’s crisis. Thailand’s stock market sank, a day after the country’s military seized power in a nonviolent coup.

In Europe, Germany’s DAX rose 0.5 percent to 9,768.01 and France’s CAC 40 rose 0.3 percent to 4,493.15. Britain’s FTSE 100 shed 0.1 percent to 6,815.75.

Sentiment improved after Russian President Vladimir Putin said his country would respect the choice of the Ukrainian people” in elections this weekend. The move calmed some concerns of a further ramp-up in sanctions by Western powers against Russia.

On Wall Street, stocks were higher after new figures showed a rise in new home sales and traders prepared for the Memorial Day long weekend. The Dow was up 0.3 percent to 16,593.68 while the S&P 500 gained 0.4 percent to 1,899.36.

In Asia, Bangkok’s SET index fell more than 2 percent in early trading before moderating its losses to close down 0.6 percent at 1,396.84. Thailand’s currency stabilized after falling about 0.4 percent against the dollar after the coup was announced early Thursday evening.

The relatively muted market reaction to the military takeover reflects that foreign investors had substantially reduced their holdings of Thai stocks during the past six months of protests aimed at unseating the elected government. Net selling of stocks by foreigners is about $640 million so far this year, according to stock exchange data.

Bombings and lawlessness have bruised Thailand’s capital and the military says the coup, which is the second in Thailand in eight years, is needed to restore stability. The army is vowing political reforms but also risks worsening the crisis if its seizure of power inflames the opposing political camps.

The coup is regarded as an “extremely negative development” by almost all observers, said Michael Every, head of financial markets research in Asia for Rabobank. It is possible an insurgency will begin in the country’s north and northeast where support for the ousted government is strongest, he said.

The backdrop of potential instability and violence will weigh on the already struggling Thai economy and put pressure on its baht currency, Every said.

Elsewhere in Asia, Japan’s Nikkei 225 closed up 0.9 percent at 14,462.17 after the dollar climbed to near 102 yen overnight. A weaker yen is a plus for Japan’s powerhouse export manufacturers.

Hong Kong’s Hang Seng gained 0.5 percent to 22,965.86 and Australia’s S&P/ASX 200 added 0.2 percent to 5,492.80. South Korea’s Kospi rose 0.1 percent to 2,017.

In energy trading, benchmark U.S. crude for July delivery was up 69 cents at $104.43 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 33 cents on Thursday.

In currencies, the euro fell 0.2 percent to $1.3627 and the dollar rose 0.3 percent to 101.98 yen.

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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