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AP source: Bills bids to be submitted in 2 weeks

By WTOP Staff

JOHN WAWROW
AP Sports Writer

PITTSFORD, N.Y. (AP) — The sale of the Buffalo Bills is entering its final stage with prospective buyers asked to submit their formal bids in about two weeks, a person familiar with the sale process told The Associated Press on Tuesday.

“It’s coming down the backstretch,” the person said, speaking on the condition of anonymity because the sale is being conducted privately.

The timetable was pushed back about a week because Morgan Stanley, the banking firm overseeing the sale on behalf of late owner Ralph Wilson’s estate, extended a deadline last month in an attempt to increase the number of prospective bidders.

A new owner is still expected to be identified by October, but it’s not certain whether it will be in time to be approved by NFL owners at league meetings in early October. And that approval would come only after the prospective candidate’s background and finances are vetted and approved by the league’s finance committee.

The Bills are for sale after Wilson died in March.

Buffalo Sabres owners Terry and Kim Pegula are considered the front-runners among a small group of candidates who have already met with members of Wilson’s estate over the past two weeks.

Pegula was last valued by Forbes to have a net worth of $3.3 billion, and that was before he sold 75,000 acres worth of drilling rights for $1.75 billion two weeks ago. He also has the backing of a majority of Buffalo public and business leaders because he is committed to keeping the Bills in western New York.

New York City real estate developer Donald Trump is also a contender, and met with Wilson’s estate two weeks ago.

Questions remain regarding the status of several other prospective ownership groups.

Former Sabres owner Tom Golisano submitted a non-binding bid after Morgan Stanley extended its deadline.

But Golisano has not yet met with Wilson’s estate, two people familiar with the process told The AP.

The meeting is regarded as important for prospective buyers to begin formulating their bids. The daylong meeting includes a lengthy presentation and access to hundreds of pages of documents outlining the Bills’ financial information.

A Toronto-based group led by rocker Jon Bon Jovi has met with Wilson’s estate, but has encountered several setbacks over questions regarding its intentions of keeping the Bills in Buffalo.

Two people familiar with discussions confirmed to The AP that a group headed by Bills Hall of Fame quarterback Jim Kelly turned down Bon Jovi’s request to join forces last week.

The Buffalo News first reported that development last weekend.

Under their lease that runs through the 2022 season, the Bills are essentially locked into playing at Ralph Wilson Stadium through the 2019 season. There is a one-time exception that would allow them to break the agreement for just under $28.4 million in 2020.

A letter Bon Jovi had published in the newspaper two weeks ago was also received with skepticism by Bills fans and officials.

He didn’t state in the seven-paragraph letter that he was committed to keeping the franchise in Buffalo. The only commitment Bon Jovi provided was working with state and local officials to identify a site for a potential new stadium.

His group is rounded out by Larry Tanenbaum, chairman of Maple Leaf Sports and Entertainment, and the Rogers family which controls Rogers Communications.

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AP NFL websites: www.pro32.ap.org and www.twitter.com/AP_NFL

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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