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Stocks drop … American Airlines CEO sees blue skies ahead … Ford recalls 100,000 vehicles

By WTOP Staff

NEW YORK (AP) — U.S. stocks are falling in afternoon trading as investors await corporate earnings reports this week. Technology and small companies have fallen sharply. The Dow Jones industrial average dropped below 17,000 for the first time since crossing that threshold last week on news that employers have been hiring more.

FLINT, Mich. (AP) — A second Michigan city with strong auto industry bonds could be on the brink of beginning the same process. Much like Detroit, Flint, Michigan, also has suffered a spectacular drop in population and factory jobs, and a corresponding rise in property abandonment. Flint’s state-appointed overseer says the city can forestall bankruptcy with imposed cost-cutting and tax- and fee-increases. But he’s concerned it would have to seek court relief if a judge rules against cutting retiree health benefits.

FORT WORTH, Texas (AP) — The CEO of American Airlines says travel demand is still strong and he is not worried about airlines adding so many flights that they will drive down prices. American Airlines Group Inc. CEO Doug Parker says airlines can charge profitable fares even as they add seats, which is different than in past years, when they were losing money. Air France-KLM, on the other hand, lowered its 2014 earnings forecast because overcapacity on international flying is hurting profits. Last month, Deutsche Lufthansa AG issued a similar warning.

DETROIT (AP) — Ford is recalling 100,566 vehicles in North America for various safety defects. The company announced the six separate recalls today. No injuries related to the defects have been reported. Ford will notify owners and dealers will repair the vehicles for free.

WASHINGTON (AP) — U.S. employers advertised more jobs in May than in any month in the past seven years, a sign that this year’s strong hiring trend is likely to continue. Employers posted 4.64 million jobs, a 3.8 percent increase from April’s total of 4.46 million, the Labor Department said Tuesday. That’s the fourth straight strong gain and is the highest number since June 2007.

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 This material may not be published, broadcast, rewritten or redistributed.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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