How to reduce college debt with scholarships

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Credit cards for people with bad credit
Is there something out there called a bad credit credit card? Well, when a bank or Credit company such as Bank of America, Washington Mutual or Chase receive an application from you, they use a statistical system to determine whether or not to grant credit to you by assigning numerical scores to various characteristics related to creditworthiness. This means the creditor's measure of your past and... Read debt consolidation article



Debt consolidation loans - What not to do
On the surface, debt consolidation loans offer cash-strapped consumers some relief from high interest rates. Looking deeper, consumers should be wary of both the pros and cons of this fast growing practice. In their simplest forms, debt consolidation loans are refinance agreements, second mortgages, or home equity loans. All three loan options allow homeowners to cash out part of the eq... Read debt consolidation article



How to reduce college debt with scholarships
Six Scholarship judges were sitting around an oval table. Forms were piled into 50 boxes. Each one had the name of a state. I looked at the boxes and wondered why some of them were overflowing and others had just a few. This was the first round of judging. By the time the contest was over almost 16,000 applications would be examined. Some of the comments were really critical, "Why did this person bother to send in an application? It's so sloppy." "This person put the wrong address on the envelope, even though the correct one is at the top of the application." One had a cassette tape inside. We played it and it was a country song. The applicant was a good musician.

That was twelve years ago, and many people still do not know or realize that College Scholarship Planning could reduce or totally eliminate college financial debt.

One of the first questions I am always asked is, "When should we start looking?" Then some answer their own question with, "I'll bet we're too late already huh?" The ideal time is to start is the 8th grade to freshman year. Good planning starts early, but scholarships are posted monthly, and if you start planning early, you have a chance to win, big. Many win the very first time. If you are a junior or senior in high school, go for it. But remember, your chances to win increase with every completed application.

You should start College Scholarship Planning even if there is a chance your child may decide not to go to college. But if the decision is yes, you will have everything in place. And the planning experience is more than filling out a few applications.

Another common concern is assuming your family income is too high to win scholarships. Fact: 80% of all scholarships are need based and income related, but 20% are not. This means millions of dollars are still available. It makes good solid financial sense to make an effort to win scholarship money regardless of income.

Always remember: the college scholarship effort is truly a family affair.

©2005 The Scholarship Doctor, Dale Clifton - All Rights Reserved - Dale is an educational consultant and expert at helping families win college scholarships. To learn more about planning to win scholarships, visit http://www.ScholarshipDoctor.com

©2005 The Scholarship Doctor, Dale Clifton - All Rights Reserved - Dale is an educational consultant and expert at helping families win college scholarships. To learn more about planning to win scholarships, visit http://ScholarshipDoctor.com

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Getting your money and debt in control

If you are struggling with money and debt here are some things you can do to help. Admit to yourself that you have to much debt. It is very easy to strugle on each month robbing Peter to pay Paul without getting to grips with the problem. If you are spending more than 10%-15% of your income (excluding a mortgage) on debt repayments you are probably financially stretched. List out how much you owe on credit cards and loans etc. It will come as a shock so be prepared! Also list out what the repayments are on each. Check if your spending on debt servicing is higher than 10- 15 % of your income.

If it is, here are some options to sort out the problem. If you can, increase your income. You may be eligible for government money such as tax credits or help with council tax or rent if you are on a low income. Alternatively you may be able to get a part time job or rent out the spare room.

If it is not possible to increase your income you need to look at ways of reducing your spending. Are there things you can cut down on? Start buying cheaper products at the supermarket. It is amazing how much your grocery bill can be reduced by buying "own brands".

If increasing your income or reducing your expenditure is not possible or insufficient then write to the people you owe money to and explain the situation and ask them to suspend the interest so that you can start to reduce what you owe them. This is known as an informal arrangement. More formally you can arrange for a legally binding agreement with your creditors called an Individual Voluntary Arrangement. This will often reduce the total amount you owe by a considerable amount. The other main way of getting rid of uncontrollable debts is bankruptcy, this has been made easier and simpler of late. You should get some advice about these options from the local Citizen's Advice Bureau.

The main thing to do if your are struggling financially is to do something about it, before it gets worse.

Debt is not your fault. Learn how to get out of it and prosper. The acclaimed Debt-Busting Manual "Debt-Free For Life: Prosperity For the Rest of Us" is available here... http://www.bookshaker.com/product_info.php?products_id=115


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How to reduce college debt with scholarships
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