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Markets gain…Economic indicators due…Alibaba initial price at $68

By WTOP Staff

HONG KONG (AP) — The British pound jumped and international stock markets rose today as Scotland voted to stay part of the United Kingdom, avoiding a messy breakup that could have roiled financial markets. Japanese shares surged to a level not seen since before the global financial crisis the as the yen extended losses against the dollar. Futures point to gains at today’s Wall Street opening. The dollar gained against the euro and the yen. Benchmark crude oil slipped below $93 a barrel.

WASHINGTON (AP) — The government will report on state unemployment rates for August this morning. Also today, the Conference Board will issue its August index of leading economic indicators, which is designed to predict the economy’s future health.

NEW YORK (AP) — Alibaba is pricing its initial public offering of stock at $68 per share. It’s the top end of the likely range. The Chinese e-commerce giant is expected to start trading today under the ticker “BABA” on the NYSE. The IPO values Alibaba at $167.6 billion — bigger than the current market value of Amazon, Cisco, and eBay. Alibaba’s platforms account for some 80 percent of Chinese online commerce

EDINBURGH, Scotland (AP) — Scottish voters have resoundingly rejected independence, deciding by a 55 percent to 45 percent margin to remain part of the United Kingdom after a historic referendum that shook the country to its core. The decision prevented a rupture of a 307-year union with England, bringing a huge sigh of relief to Britain’s economic and political establishment, including Prime Minister David Cameron, who faced calls for his resignation if Scotland had broken away.

NEW YORK (AP) — Samsung says U.S. wireless carriers will start taking orders for its large-screen Galaxy Note 4 smartphone on the same day larger iPhones go on sale. The Note 4 will be available on Oct. 17. Orders will be taken beginning today. It has a screen measuring 5.7 inches diagonally, slightly larger than the 5.5 inches on Apple’s new iPhone 6 Plus. The regular iPhone 6 has a 4.7-inch screen. Unlike the iPhone, Samsung’s Note phones come with a stylus for note taking.

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 This material may not be published, broadcast, rewritten or redistributed.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