CARL AZUZ, CNN ANCHOR: It`s April 28, 2014. I`m Carl Azuz. This is CNN STUDENT NEWS. Ten minutes of current events with no commercials. First up today, a prime minister resigns. The official from South Korea took responsibility for the sinking of a ferry on April 16. The ship was headed to a tourist resort off South Korea`s coast, when it tilted suddenly and eventually sank. Officials aren`t sure yet why it went down so quickly, but of the 476 people aboard only 174 of them survived. The captain and 14 crew members have been arrested. There`s a criminal investigation going on right now.

Prime Minister Chung Hong-won says the country`s government didn`t respond quickly enough to the disaster and that it disappointed the public. He wasn`t South Korea`s leader. That`s the president, but the prime minister`s action is the highest profile resignation following the accident.

In Vatican City history was made yesterday for the Roman Catholic Church. John XXIII and John Paul II, man who led that church were canonized or declared saints. Pope Francis called the man of courage, for whom God and faith were more powerful than the tragic events of the 20th century. This was the first time that two papal canonizations happened at once, also the first time that two living popes attended the ceremony. Current Pope Francis and Pope Emeritus Benedict XVI who resigned last year.

Teachers, for more on the canonization significance, please look up Thursday show in our online archives.

Is Ukraine headed for civil war? We`ve talked about how many people in Eastern Ukraine have ties to Russia. They want to be allied with their eastern neighbor. In other parts of Ukraine, like the capital, many want to be closer to Western Europe.

Last week, Ukrainian forces said they killed five fighters who supported Russia. Then Russia started military drills near Ukraine`s border saying Ukraine`s attacking its own civilians. It`s clear why things are tense.

UNIDENTIFIED MALE: In Ukraine today, a country bracing itself for war. Ukrainian military training volunteers to defend the east if Russia were to invade. And dropping leaflets warning residents to stay at home and keep their children safe.

Schools there are already eerily empty.

In an ominous warning delivered on national television, Ukraine`s prime minister accused Russia of risking World War III.

ARSENIY YATSENYUK, UKRAINIAN PRIME MINISTER (through translator): Military aggression by Russia on Ukraine`s territory will lead to military conflict in Europe. The world has not yet forgotten World War II, but Russia already wants to start World War III.

UNIDENTIFIED MALE: With the situation on the ground deteriorating rapidly, President Obama spoke urgently with European leaders to build unity behind a new round of sanctions against Russia.

U.S. officials say the additional penalties would target key Putin allies and possibly institutions such as banks they do business with.

But even as officials drafted the final language, the president conceded such measures are unlikely to deter Russian aggression.

BARACK OBAMA, PRESIDENT OF THE UNITED STATES OF AMERICA: I think it`s important for us not to anticipate that the targeted sanctions that we are applying now necessarily solve the problem. What we`ve been trying to do is to continually raise the costs for Russia of their actions while still leaving the possibility of them moving in a different direction.

UNIDENTIFIED MALE: For their part, Russian leaders continued to accuse the U.S. of orchestrating the crisis.

SERGEY LAVROV, RUSSIAN FOREIGN MINISTER (through translator): There can be no one sided demands here. And we are being presented them. First of all, I mean the United States of America, which has an outstanding ability to turn everything on its head.

AZUZ: We are rapping up our financial literacy month coverage. We`ve been talking about terms that are especially useful if you`re considering higher education. Today is related to saving for that. It`s 529 - as in 529 Savings Plan. This is a kind of account that`s usually set up by a relative. It`s a way to save money for most forms of higher education, like college or trade school, and while the plans are different depending on the state they are based in, they usually provide some tax advantages for those who invest in them. So, they can save money while they are saving for their children`s college tuition.