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Asia stocks rise after US gains, Ukraine diplomacy

By WTOP Staff

JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stocks were mostly higher Tuesday after U.S. markets rose on news of diplomatic efforts to broker a cease-fire in Ukraine.

KEEPING SCORE: Tokyo’s Nikkei 225 index rose 0.9 percent to 15,465.61, Hong Kong’s Hang Seng was up 0.2 percent at 25,002.34 and Seoul’s Kospi added 0.7 percent to 2,066.89. China’s Shanghai Composite Index was the only decliner, shedding 0.1 percent to 2,237.34. Sydney, Taipei and Singapore all rose.

UKRAINE: Russian Foreign Minister Sergey Lavrov said issues related to sending a humanitarian convoy to Ukraine were resolved following weekend talks in Berlin with his counterparts from Ukraine, Germany and France. Germany’s Frank-Walter Steinmeier said there was progress on “some issues,” though Lavrov said there was no movement on establishing a cease-fire between the government and pro-Russian rebels.

THE QUOTE: “Markets started the week on a firm note as investors took positively the talks between Russia and Ukraine over the weekend even though no major breakthrough was reached,” said Credit Agricole CIB in a report.

CHINESE HOUSING: Housing prices fell in July for a third month, with declines recorded in 64 out of 70 cities, compared with 55 in June, official data showed. Regulators are trying to restrain surging housing costs with building and purchase curbs while avoiding an abrupt slowdown that could send shockwaves through the economy.

U.S. HOUSING: A survey showed sentiment among home builders improved in August for a third month. Mizuho Bank said that suggests housing is “experiencing a broad-based revival,” which might bring forward plans by the Federal Reserve, which has cited housing as a concern, to raise interest rates.

LOOKING AHEAD: The U.S. government was due to announce monthly inflation Wednesday and the Fed was due to release minutes on Wednesday from its July policy meeting. Fed Chairwoman Janet Yellen speaks Friday at an annual gathering of central bankers in Jackson Hole, Wyoming, and is expected to affirm her position that Fed should keep monetary policy loose to respond to a slack labor market.

WALL STREET: U.S. markets were buoyed by retailer Dollar General’s bid to acquire Family Dollar. Dollar General was the biggest gainer in the S&P 500, rising 11.6 percent. Family Dollar rose 5 percent. The S&P 500 rose 0.9 percent to 1,971.74. The Dow Jones industrial average gained 1.1 percent to 16,838.74. The Nasdaq composite added 1 percent to 4,508.31.

CURRENCIES: The dollar was little changed at 102.62 yen from late Monday’s 102.63 yen. The euro also edged down to $1.3358 from Monday’s $1.3361.

ENERGY: Benchmark U.S. crude for September delivery was up 33 cents to $96.73 in electronic trading on the New York Mercantile Exchange. The contract shed 94 cents on Monday to $96.41, its lowest level since April, as fears of disruption in supplies from Iraq eased.

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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