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Asia stocks lackluster, US economic data awaited

By WTOP Staff

JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets were lackluster Tuesday as investors continued to digest monetary policy signals from the Jackson Hole meeting of central bankers and looked ahead to data expected to show an improving U.S. economy.

KEEPING SCORE: Tokyo’s Nikkei 225 was off 0.4 percent at 15,553.42 and China’s Shanghai Composite fell 0.1 percent to 2,226.98. Hong Kong’s Hang Seng was down 0.1 percent at 25,136.50. Seoul’s Kospi added 0.5 percent to 2,071.24 while Australia’s S&P/ASX 200 was little changed at 5,632.40.

DOLLAR BOOST: The U.S. dollar has risen against major currencies since Federal Reserve chair Janet Yellen’s speech to the Jackson Hole, Wyoming conference Friday was seized upon by traders as suggesting the Fed is inching toward interest rate hikes because of faster-than-expected improvement in employment. The dollar’s strength was reinforced by comments from Japanese and European central bankers which suggested their economies will remain on life-support for longer than the U.S.

U.S. OUTLOOK: Investors looked ahead to Tuesday’s data on durable goods orders, followed by economic growth on Thursday. Durable goods spending is expected to rise as much as 18 percent over the previous month, driven by a surge in aircraft sales by Boeing Co. That could help to shore up sentiment after new home sales fell 2.4 percent last month, suggesting a construction recovery was struggling.

ANALYST TAKE: “We expect this week’s U.S. growth numbers to be mixed but positive,” said Jim O’Sullivan of High Frequency Economics in a report.

UKRAINE TENSIONS: The presidents of Ukraine, Russia and Belarus were due to meet Tuesday in Minsk, Belarus, in a possible step toward trying to reach a negotiated end to unrest in Ukraine. Tension over an insurgency by pro-Russian forces has roiled energy markets, which worried about the impact of possible Western sanctions on Russian oil exports.

WALL STREET: The U.S. stock market notched another first on Monday after the Standard & Poor’s 500 nudged briefly past the 2,000-point mark and closed with its second record high in a week. The S&P 500 added 9.52 points, or 0.5 percent, to 1,997.92. The Dow Jones industrial average rose 75.65 points, or 0.4 percent, to 17,076.87. The Nasdaq composite gained 18.80 points, or 0.4 percent, to 4,557.35.

ENERGY: Benchmark U.S. crude for October delivery was up 16 cents to $93.51 in electronic trading on the New York Mercantile Exchange. The contract declined 30 cents on Monday to close at $93.35.

CURRENCIES: Major currencies stabilized after losing ground to the dollar. The euro rose to $1.3204 from the previous session’s $1.3181. The dollar declined to 103.91 yen from Monday’s close of 104.09 yen.

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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