Reed College expands free tuition program. Here's who qualifies
The Southeast Portland liberal arts college originally announced the launch of the Reed Promise program in Dec. 2024, offering tuition-free education for newly admitted students from Oregon and Washington from families who earn under $100,000 per year.
Transfer students from the United States are also eligible for the program.
TriMet warns of 'drastic' service cuts without funding boost in Oregon transportation package
But beginning in Fall 2026, the college says students from anywhere in the United States who fall under those parameters will qualify for the program.
Further, 90% of students from families earning less than $125,000 will also qualify for free tuition.
According to the school, the program and its current expansion aim to 'eliminate financial barriers' that may have prevented potential students from applying or attending Reed to begin with.
'At Reed, we believe in the power of higher education to change lives,' said Reed College President Audrey Bilger. 'We like to say, 'the world needs more Reedies.' By expanding the Reed Promise nationwide, we will be able to transform even more lives and provide greater access to our vibrant academic program and to our intellectually curious and creative community.'
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 days ago
- Yahoo
Complexity could delay payouts in car finance compensation scheme
Car buyers and banks are bracing themselves for the outcome of a review into a multi-billion-pound scheme designed to compensate borrowers who paid too much commission for car loans. However, critics say the scheme may be overly broad and complex, potentially delaying claim resolutions for years. It follows a year-long battle between lenders, legislators and even the government over three cases centred around salespeople being incentivised to charge higher interest rates – without the knowledge of buyers – so they could bank an increased commission. This ended at the start of this month with a landmark ruling at the Supreme Court. Lord Robert Reed ruled that in two of the cases such arrangements – known as discretionary commission arrangements (DCA) – were legal, but he judged that in the the third, known as the Johnson case, the value of the commission (over half the sale price) and how it was disclosed pointed to an unfair relationship between banks and car dealers, making it illegal under the Consumer Credit Act. In the wake of the judgements, finance watchdog the FCA announced it will consult the finance industry on a scheme to compensate car buyers who paid excessive commission charges on car loans going back as far as 2007. The pot for those affected is set to be between £9bn and £18bn. While incredibly high, it is more than half the forecasted £44bn and leaves lenders – especially the likes of Black Horse – celebrating the rulings. During the review, which is set to be published in October, the FCA says it will examine how lenders should assess claims and what compensation may be due. There are concerns, however, that the process risks being held up by the complex natures of the cases as well as contradictory views held by the FCA and the courts. For example, the FCA deemed it was the nondisclosure of particular features within lending agreements, rather than the features themselves, that were deemed unfair, while the Supreme Court ruled that nondisclosure or partial disclosure of a commission paid by a finance company to a dealer was not. Faced with these partially opposing statements, the FCA's task will be to weigh up a range of factors and decide what it considers to be unfair. These will include the 'characteristics' of the consumer – a term it has yet to define but which relates to the Court's comment regarding their 'sophistication' – whether the loan complied with regulatory rules and the extent and manner of a commission's disclosure. The Johnson case, in which it was found the value of the commission relative to the loan was unfair, means this factor, too, will be considered, as will the nature of the commission. Alongside this, a major part of the FCA's review will be deciding what is an unfair commission payment, where that payment was not disclosed to the consumer, such as, for example, the 55% in the Johnson case. The FCA says in calculating compensation it will be informed by the degree of harm a customer suffered while considering the need to ensure that affordable loans for vehicles can continue to be offered. The Supreme Court decided the appropriate remedy in the Johnson case was the repayment of the commission. The FCA says it will consider this option alongside alternative remedies, but these are unlikely to exceed the full repayment of commission and could actually lead to lower payments. The FCA estimates most claimants will receive less than £950 in compensation per finance agreement to which interest of around 3% (per year) will be added. Following the ruling, the values of the major banks soared as the City realised the size of the compensation bill they faced had more than halved in size. This alone should tell car buyers who apply for redress that their chances of achieving it are much reduced. Added to this are the challenges facing the FCA's scheme, including the near-impossibility of lenders being able to produce documents relating to older finance agreements, many completed back in 2007. Philip Salter, former FCA director of retail lending, said: 'The FCA's statement is broad and complex. The Supreme Court provided legal clarity, but the challenge for firms now will be preparing for an immense operational and financial task. 'The FCA's approach requires firms to analyse their whole historical loan book against a complex matrix of 'unfairness'.' Others criticised the problems of establishing consumer loss. John Phillipou, chairman of the Finance and Leasing Association, said: 'The outline of the redress scheme is impractical. I understand the 'doing right' by the consumer, but one of the things is showing loss to consumers. That's going to be hard to prove.' In its defence, FCA chief executive Nikhil Rathi said: '[The] judgement helps us because we have been looking at what is unfair. Prior to this judgment, there were different interpretations of the law coming from different courts. It is clear that some firms have broken the law and our rules. It's fair for their customers to be compensated.' ]]>
New York Post
4 days ago
- New York Post
John Deere pledges to pour $20B into its US operations to ‘continue building and investing in America'
Advertisement Farm equipment giant John Deere announced this year it is investing nearly $20 billion over the next decade to bolster its US operations as part of its ongoing commitment to American manufacturing. 'We look forward to carrying forward our founder's legacy of ingenuity as we continue building and investing in America,' Cory Reed, president of Deere & Co.'s worldwide agriculture and turf division for production and precision agriculture in the Americas and Australia, told FOX Business. 'We were born here, and we're here to stay.' The company's $20 billion investment focuses on the development of new products, 'cutting-edge' technology and more advanced manufacturing capabilities, Reed said. Advertisement John Deere is investing nearly $20 billion in the US over the next decade. AP Founded in 1837 in Grand Detour, Ill., by blacksmith John Deere, the company has made significant investments in the US in recent years to expand and modernize its factories and build new ones. John Deere is building a $70 million factory in Kernersville, North Carolina, which will be dedicated to manufacturing excavators, Reed said. The company recently completed a $40 million expansion at its Des Moines, Iowa, factory to build See & Spray sprayers, which use computer vision and artificial intelligence to detect and target weeds. Advertisement The company was founded in 1837 in Grand Detour, Ill. It also invested nearly $150 million to renovate its factory in East Moline, Illinois, to build its new X9 combines, which raise harvesting capacity by around 45%, according to the John Deere website. 'These investments are helping us solve some of our customers' biggest challenges,' Reed said. 'Our customers are the backbone of our communities, and we're proud to provide the solutions that make their jobs easier and more efficient.'Nearly 80% of John Deere's US sales and 25% of its international sales are from products manufactured domestically. Advertisement The company employs about 30,000 people at more than 60 US locations, and its network of independent US dealerships employs an additional 50,000, Reed said.
CNBC
04-08-2025
- CNBC
Where Morningstar's 2025 bond manager of the year sees the best opportunities right now
Artisan Partners' Brian Krug looks for opportunities where others see none. As a portfolio manager on Artisan's credit team, Krug aims to have a concentrated portfolio that invests selectively across the risk spectrum. That includes assets that may have sound businesses but are unpopular for some reason. "We buy sickly, out-of-favor businesses when they're good businesses. They are just out of favor because of circumstances," Krug said in an interview with CNBC. For instance, when the cruise ship companies were hit during the Covid pandemic, he and his team stepped in and provided financing. The strategy has earned Krug kudos from Morningstar, which recently gave him an investing excellence award for 2025 as outstanding fixed income portfolio manager . The financial services firm said Krug "honed an aggressive but effective style for high-yield bond investing" at his previous firm, Waddell & Reed, and has continued that success at Artisan Partners. "He's surrounded himself with a talented team, and together they've tactfully selected corporate bonds and bank loans to build a concentrated, potent portfolio," Morningstar wrote. "Splicing together his record over his Waddell & Reed and Artisan tenures, Krug stands out as a top high-yield bond investor." The team, based in Denver and one of 11 autonomous investment groups, includes a chief operating officer, senior analysts, fixed income traders and a data scientist. They use both quantitative methods and qualitative techniques to generate ideas. They'll screen for yield, performance and relative value to narrow down the investment universe and then identify sector and company dislocations. The funds Krug manages include the Artisan High Income Fund (ARTFX), rated five stars by Morningstar. The fund, which is closed to most new investors, had a 30-day SEC yield of 6.73% , as of June 30, and a 0.94% expense ratio. The majority of holdings are corporate bonds, with some 44% in B-rated assets, 26.5% in BB-rated and 20.3% in CCC and below. Creating opportunity Krug said he doesn't necessarily consider his investment style "aggressive" and believes his concentrated portfolio is really about having the team's best ideas drive results — rather than being a diverse offering. It includes both high-yield bonds and loans. Plus, higher-grade bonds are more efficiently priced than lower-grade assets, he said. "When you think about some of the lower grades, you have a lot more inefficiency because some investors will say, 'Well, I don't want to invest in that because it's risky,'" he said. "So that creates opportunity on a very selective basis." ARTFX YTD mountain Artisan High Income Fund in 2025. Bottom-up research also helps Krug and his team identify specific assets that make sense. In addition, the team gives the investments time to work through any issues. When the cruise lines needed financing in 2020, the timing was horrible because the operators had shut down in the midst of the pandemic, he said. "We went very big into [the] space and provided capital to companies to basically have liquidity, to give themselves time to work through the virus," Krug said. "We bought when they [were] distressed, and now they're on a path to investment grade." The 48-year old said his 25 years in the business have helped shape his strategy. A native of Milwaukee, he attended Miami University in Ohio and graduated in 1999 with a degree in finance. He then wound up at Pacholder Associates, later acquired by JPMorgan, as an analyst for a distressed portfolio. That allowed him to understand business models and study how things go wrong, he said. "The number one thing that I would think I learned is just avoiding mistakes and then selectively finding opportunities in deploying capital when other people panic," he said. Finding opportunities now These days, Krug sees opportunities in several areas of the fixed-income market. One is insurance brokerages, where the firm has had significant exposure over time, he said. "Insurance brokerage has great credit characteristics [and] predictable revenue streams," he said. "You've got high margins, and that supports strong valuation from an equity basis." Artisan High Income Fund's top holding is insurance broker Ardonagh Group, at 4.5% of assets as of June 30. Cruise lines continue to provide incremental value, although the absolute returns won't be what they were in the past, Krug said. "Companies are going to get upgraded," he said. "As you get the upgrade to investment grade, you have a new buyer base that comes in and that new buyer base will basically pay much tighter spreads than what a high yield investor would." Carnival and NCL, or Norwegian Cruise Line Holdings , are both top holdings in ARTFX. Lastly, there are some inefficiencies in the loan market, Krug said. "As the broadly syndicated loan market has increased, it has taken more credit risk than has [been present] in the past," he said. "If a company has a misstep and they get downgraded, it really creates an opportunity, or even the threat of a downgrade creates an opportunity," he said. Meanwhile, any potential economic downturn or recession doesn't scare Krug. In fact, it creates a great buying opportunity, he said. "We, as high-yield investors, are perennially glass-half-empty investors," he said. "We always think about what can go wrong." "If dislocation occurs, that provides us more opportunity to create alpha," Krug added. "You have a little bit of a panic, and through our individual security selection we've been able to take advantage of the panic."
