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NHL salary cap to rise after record revenues

By WTOP Staff

IRA PODELL
AP Sports Writer

NEW YORK (AP) — After a year of record revenues, the NHL salary cap is going up again.

The exact figure for the 2014-15 hasn’t been set yet, NHL Commissioner Gary Bettman said Thursday following a meeting of the league’s board of governors, but he hoped it would be worked out with the players’ association in time for the start of the two-day entry draft Friday in Philadelphia.

The final number is expected to be in the high $60 millions or low $70 millions. That gives general managers a guideline as they head into the draft and the free-agent shopping season that begins on Tuesday.

“We hope to have a mutual understanding as to what the cap will be within the next day, hopefully at the latest,” Bettman said. “It’s something that obviously we do in conjunction with the players’ association.

“There have been ongoing meetings, but our goal would be to move this as quickly as possible. But we have a dance partner and we want to make sure the music is playing appropriately and we’re both hearing the same things.”

Many team officials rushed out of the midtown Manhattan hotel where Thursday’s meeting took place and headed to Philadelphia for the draft, which will open with the first round Friday night and conclude with rounds 2-7 on Saturday.

Teams that have large amounts of cap space can already make their offseason plans, whether it be trades or free-agent signings, without knowing the final cap number.

“I expect to see a lot more trades than we normally see,” Minnesota Wild general manager Chuck Fletcher said. “We’ll see a lot more trades, in my opinion, that don’t even involve draft picks. Hockey trades. There’s so much parity in the league, everyone is trying to get ahead. I think some teams look at free agency as not an ideal route. I think there will be a lot of movement.”

Last season’s salary cap sat at $64.3 million, quite a jump from the original cap number of $39 million, established after the lockout-canceled season of 2004-05. The only time the cap number dropped from the previous season was in 2012-13 following another lockout when the figure was set at $60 million after being $64.3 in 2011-12.

Bettman said number-crunching was still being done to determine what the league’s revenues were last season, but he declared they were at an all-time high.

“It is a record number, which is a testament to the strength of the game and our fans, and how competitive things are,” he said.

Also discussed Thursday were a host of potential rules changes that have already passed through the league’s competition committee and the general managers, who met earlier this month in New York during the Stanley Cup finals.

There were no hurdles involved in those proposed adjustments, and the new rules are on track to be approved by the players’ association.

“There are things that we need to consult with the players’ association on,” Bettman said “I would prefer to do that before we make any formal announcements. I think it’s better for the process that way.”

The biggest possible changes revolve around the 5-minute overtime period in the regular season. The league would like to create more overtime goals and have fewer shootouts. The proposal includes doing a scrape of the ice before overtime instead of before the shootout to give a cleaner surface to play on, and having teams change direction after the third period to create a longer change to the benches.

“In our game now, the way it’s played, teams play so hard,” said Hockey Hall of Famer Luc Robitaille, now the Stanley Cup champion Los Angeles Kings’ president of business operations. “Players are so good, and when there’s not a lot of room, suddenly one bad change and it ends up on a 2-on-1 or a 3-on-2.

“It does make a difference. This certainly will open up a few plays here and there. That long change is always a hard thing for most teams.”

Also subject to change are penalties for faceoff infractions after icings, which could result in a delay-of-game penalty, the configuration of faceoff circles, increasing the size of the trapezoid behind the net, and tougher penalties for embellishment.

“Very consistent with the discussions with the competition committee and with the general managers,” Bettman said of Thursday’s talks. “When everything is neatly bundled up, we’ll issue a formal release giving you the details on all of that.”

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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