Page 25 - aruba-today-20190921

BUSINESS Saturday 21 September 2019
A25

4 ways to cover college costs if financial aid isn't enough

By RYAN LANE 2. INCREASE YOUR WORK
Associated Press SCHEDULE
For 61% of students, col- GoFundMe allows students
lege costs more than they to keep any funds they re-
expected, according to a ceive, even if they fall short
recent survey from College of their overall goal. But
Ave Student Loans con- there's no guarantee you'll
ducted by Barnes & Noble get any money. Working,
College Insights. though, is a surefire way to
Yoselin Guzman, an do that. If you're eligible for
18-year-old UCLA freshman a work-study job, that's typi-
from Compton, California, cally the best option.
can see why. "Your supervisor is a built-in
"There's like little costs you mentor; they understand
don't even see," says Guz- you are a student first (and
man, noting how expen- there's) flexibility in sched-
sive dorm items, books and uling," says Ashley Bianchi,
student orientation are. director of financial aid at
When those unexpected Williams College in William-
costs arise — and your exist- stown, Massachusetts.
ing financial aid won't cut it If you already have a job,
— here are four options to consider working more
get more money for school. In this July 13, 2019, photo visitors walk the stairs to Alexander Hall on the campus of Geneva Col- hours. That may be tricky
1. CROWDFUND THE SHORT- lege in Beaver Falls, Pa. with work-study positions,
FALL Associated Press since earnings are capped
When Guzman realized her at a specific amount, so
savings and scholarships Getting over those fears cation-related campaigns enrollment at Grinnell Col- look off campus or on a
wouldn't cover her col- helped cover her funding each year, though not all lege in Grinnell, Iowa. college student-focused
lege expenses, she started gap. Now, she says the are for college tuition and But Lindberg cautions stu- job board . Just be careful
a GoFundMe campaign to donations have "given me success varies. dents to work with their not to overextend yourself.
crowdfund $5,000. that confidence that I'm "We've seen an increase in school's financial aid of- Bianchi says her college
"I was a little embarrassed not alone in this world." crowdsourcing as an op- fice before starting a cam- recommends students work
to show people I'm strug- She's certainly not alone tion for covering college paign. The additional fund- six to seven hours a week;
gling financially," Guzman on GoFundMe: The web- costs," says Brad Lindberg, ing might affect future aid Lindberg puts 10 hours as a
says. site hosts over 100,000 edu- assistant vice president for eligibility, he says. reasonable amount.q

Weak manufacturing threatens consumer-fueled growth

By DAMIAN J. TROISE mentum typically follows to the Commerce Depart-
Associated Press the health of the manufac- ment. Sales at restaurants
NEW YORK (AP) — Consum- turing sector. and bars, an indicator
ers have supported the August's weak manufactur- of Americans' discretion-
economy during its record- ing data is just the latest sig- ary spending, fell 1.2% last
setting expansion, but a nal of a slowing economy. month, the steepest drop in
shrinking manufacturing U.S. manufacturers also cut nearly a year. Sales at gro-
sector, crushing tariffs and jobs last month, and busi- cery stores, clothing retail-
other dangers may bring ness spending is falling. ers and furniture stores also
the good times to an end. "Businesses are holding fell. General merchandis-
Fresh warning bells rang back on spending be- ers, which include chain re-
on Wall Street earlier this cause they're worried tailers such as Walmart and
month after factory output about not knowing what Target, reported a 0.3%
shrank for the first time in the rules of the game are, drop.
three years. That threatens related to trade, said Jason Meanwhile, consumer sen-
the economy's decade- Pride, chief investment of- timent fell last month by the In this June 14, 2019 file photo a pair of shoppers, center, in the
long expansion, as it could ficer for private wealth at most in seven years, ac- Levi's store in New York's Times Square, survey a T-shirt display.
lead to cuts in jobs and Glenmede. cording to the University of Associated Press
wages, undermining the Meanwhile the Labor De- Michigan's consumer senti-
U.S.'s consumer-led growth. partment said manufactur- ment index. ment," Pride said. ing rounds of tariffs.
"Without any sort of catalyst ing productivity suffered its Investors should keep a For now the sector is hold- If the Trump administra-
to help turn the sentiment worst performance in the close eye on how the ser- ing up, even expanding at tion's tariffs on Chinese im-
around we anticipate that second quarter since mid- vice sector, which makes a stronger pace in August ports lead, as expected, to
continued weakness in the 2017. Taken together the up the bulk of the U.S. after two months of cool- higher prices on everything
manufacturing sector is data points to lagging de- economy, reacts to the ing. from toys to clothing and
likely to bleed over into the mand that could eventu- hurting manufacturing sec- For businesses and inves- shoes, it could undermine
consumer sector, which ally drag down consumer tor. tors, much depends on consumer confidence
then can drag down the spending. "We've seen cycles where how the trade feud be- even further, weakening
economy further," said Pe- Signs of consumers' anxiety manufacturing pulled back tween the U.S. and China the economy's last remain-
ter Donisanu, investment have already begun to ap- and services followed. plays out. The countries ing support. Tariffs on many
strategy analyst at Wells pear. Retail sales, exclud- When that occurred, we plan to meet in October to popular consumer items
Fargo Investment Institute. ing auto purchases, were ended up in a more dif- continue negotiations fol- are scheduled to kick in on
Consumer spending mo- flat in August, according ficult economic environ- lowing months of escalat- Dec. 15.q