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Stocks rise…Judge says businesses can keep BP spill payouts…Hasbro wins rights to ‘Frozen’ dolls

By WTOP Staff

NEW YORK (AP) — Stocks are climbing in early afternoon trading on Wall Street. Makers of consumer staples and health-care companies are among the biggest advancers. Wal-Mart rose 2 percent after the retail giant announced a new checking account program in collaboration with Green Dot. The news sent Green Dot shares soaring 20 percent. Health care stocks rebounded after taking a beating to start the week on news that the U.S. was tightening rules on a tax-saving maneuver called “inversion.”

NEW ORLEANS (AP) — A federal judge in New Orleans says BP has to stick by its agreement with companies it compensated for business losses due to the 2010 Gulf oil spill. The oil giant had argued that a flawed funding formula in their settlement with alleged victims of the spill enabled many businesses to collect on questionable claims, and that they should be forced to return the money. The judge agreed several weeks ago to change the formula for any future payments, but he ruled today that a deal is a deal when it comes to money already paid out.

WASHINGTON (AP) — The Food and Drug Administration has approved new labeling on Pfizer’s drug Chantix. The revised wording suggests the anti-smoking medication may not carry the risks of suicidal behavior that earned it the government’s strongest warning more than five years ago. It cites a number of recent studies that found little or no evidence of psychiatric problems or suicidal tendencies in patients taking the tablet. Pfizer had requested the change.

TORONTO (AP) — BlackBerry has launched a new smartphone as the embattled Canadian company tries for a comeback. Chief executive John Chen unveiled a large-screen, square sized phone called the Passport to a Toronto audience today. London and Dubai also hosted launch events. Chen says the Passport will be available in the U.S. on A&T on an exclusive basis by the end of the year. It’s also available for $599 for a limited time on Amazon.

PAWTUCKET, R.I. (AP) — Hasbro has wrestled the rights for dolls from Disney’s hit movie “Frozen” away from its rival Mattel. Hasbro says its new deal with Disney will give it global rights to develop dolls based on “Frozen” everywhere but Japan. Disney Consumer Products says the rights for the “Frozen” dolls will shift from Mattel to Hasbro in the spring of 2016. Hasbro will also make dolls based on Disney Princess stories and characters including Cinderella, Beauty and The Beast and The Little Mermaid.

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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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