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Stocks rise…Factory output edges higher…Home builders feel more confident

By WTOP Staff

NEW YORK (AP) — Stocks are rising in early trading on Wall Street on second-quarter earnings reports and deal news. Time Warner soared 17 percent after Rupert Murdoch’s Twenty-First Century Fox disclosed it made a bid for the media giant last month that was rejected. Apple and IBM rose after the former rivals announced that they will work on mobile applications together in a bid to sell more iPhones and iPads to corporate customers.

WASHINGTON (AP) — U.S. factory output has increased for a fifth straight month as manufacturers cranked out more aircraft, chemicals and furniture. The Federal Reserve says factory production rose one-tenth of a percent in June, down from a gain of four-tenths of a percent in the previous month. For the full April-June quarter, factory output rose 6.7 percent, the most in more than two years. Overall industrial production, which includes manufacturing, mining and utilities, edged up 0.2 percent in June.

WASHINGTON (AP) — The rising cost of gasoline pushed up the prices U.S. companies receive for their goods and services in June, but overall inflation remains tame. The Labor Department says the producer price index, which measures the cost of goods and services before they reach the consumer, rose 0.4 percent last month. Gas costs rose 6.4 percent in June and steel prices shot up 3 percent, but prices fell for grains, cheese and rental cars.

UNDATED (AP) — U.S. homebuilders are feeling more confident in their sales prospects for the second half of the year, reflecting improved demand and stronger sales of new homes in recent months. The National Association of Home Builders/Wells Fargo builder sentiment index rose this month to 53, up four points from a revised reading of 49 in June. The latest reading is the highest since January, when it was 56. Readings above 50 indicate more builders view sales conditions as good.

DETROIT (AP) — BMW is expanding a recall of its most popular models to fix an air bag problem that is hitting much of the global auto industry. The German automaker says it will recall 1.6 million 3-Series cars from model years 2000 to 2006 across the world, including 574,000 in the U.S. Air bag inflators in systems made by Takata Corp. can rupture. The problem is responsible for millions of recalled vehicles during the past few years.

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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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