Reduce College Debt with Scholarships
by Dale Clifton, the Scholarship Doctor
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 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://ScholarshipDoctor.com
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How To Get Out Of Debt,
Using Only The Money You Already Earn And Not
A Penny More! Learn how to put all the money you're wasting
each and every month (Paying Interest) To Work for You!
Click Here For: Student Loan Debt Elimination Programs!
Friday, September 09, 2005
Thursday, September 08, 2005
Understanding Secured Loans
A secured loan is any loan that is secured on your home or
property. Secured loans are more easily accessible to those with a
poor credit record. This means that persons who are self-employed,
or who have recently changed jobs, or who have adverse credit (ccjs,
arrears, defaults, etc.) can take out a secured loan.
If you're a homeowner, you may get a lower rate through a secured
loan using your property as security. If you borrow money using a
mortgage as security you are agreeing that the lender can claim the
mortgaged property if you fail to keep to the agreement. The risk to
the lender is reduced so the interest rate offered is lower. This is
why secured loans tend to be cheaper than unsecured loans and other
forms of borrowing. The lender has the added benefit of security,
which provides protection in the event of your inability to repay.
You can borrow larger amounts and repay over a longer period. The
amount available usually ranges from £3,000 to £50,000,
although
some lenders will consider lending more. If you wish to borrow a
larger amount or if you require a longer period in which to repay
the loan, secured loans may be the most suitable for you.
You can consolidate more expensive borrowings into a single much
cheaper monthly payment. You may choose to take out a secured loan
in order to consolidate debts and replace high-interest loans with a
low-rate loan. The loans being consolidated may include higher
purchase loans, unsecured loans and credit cards.
Before you take out a secured loan, make sure that you can afford
the monthly repayments. Also, read the loan agreement carefully and
pay particular attention to the rate of interest required, the term
of the loan, the repayments required and the total amount payable.
If you fail to repay the loan, the lender may repossess your
property or home and sell it to repay the loan. Your home is at risk
if you do not keep up repayments on a mortgage or other loan secured
on it.
© Copyright 2005, Bwalya Mwaba writes for the Secured Personal
Loans website. To apply for a secured personal loan online, just
fill out a simple form at: http://www.secured-personal-loan.org.uk/
property. Secured loans are more easily accessible to those with a
poor credit record. This means that persons who are self-employed,
or who have recently changed jobs, or who have adverse credit (ccjs,
arrears, defaults, etc.) can take out a secured loan.
If you're a homeowner, you may get a lower rate through a secured
loan using your property as security. If you borrow money using a
mortgage as security you are agreeing that the lender can claim the
mortgaged property if you fail to keep to the agreement. The risk to
the lender is reduced so the interest rate offered is lower. This is
why secured loans tend to be cheaper than unsecured loans and other
forms of borrowing. The lender has the added benefit of security,
which provides protection in the event of your inability to repay.
You can borrow larger amounts and repay over a longer period. The
amount available usually ranges from £3,000 to £50,000,
although
some lenders will consider lending more. If you wish to borrow a
larger amount or if you require a longer period in which to repay
the loan, secured loans may be the most suitable for you.
You can consolidate more expensive borrowings into a single much
cheaper monthly payment. You may choose to take out a secured loan
in order to consolidate debts and replace high-interest loans with a
low-rate loan. The loans being consolidated may include higher
purchase loans, unsecured loans and credit cards.
Before you take out a secured loan, make sure that you can afford
the monthly repayments. Also, read the loan agreement carefully and
pay particular attention to the rate of interest required, the term
of the loan, the repayments required and the total amount payable.
If you fail to repay the loan, the lender may repossess your
property or home and sell it to repay the loan. Your home is at risk
if you do not keep up repayments on a mortgage or other loan secured
on it.
© Copyright 2005, Bwalya Mwaba writes for the Secured Personal
Loans website. To apply for a secured personal loan online, just
fill out a simple form at: http://www.secured-personal-loan.org.uk/
Wednesday, September 07, 2005
Mortgage Loans For People With Adverse Credit -How Much Should You Borrow.
"How much should you borrow?" is a question people with adverse
credit wrestle with. The answer is simply as much as you can
afford. This is probably less than what you will qualify to
borrow from a mortgage lender. To determine what you can
afford, factor the mortgage payment and other home costs into
your budget.
Cost Of A Mortgage
Your mortgage payment is not just the loan payment; it also
includes real estate taxes, homeowner's insurance, and private
mortgage insurance premium if you borrow more than 80% of the
home's value. These three items often add several hundred
dollars to your monthly payment.
Cost Of A Home
Unlike renting, you will be responsible for utility payments
for your home. Home utilities are usually higher than an
apartment since you have more area to heat and usually a lawn
to water. You will also need to plan on making unexpected home
repairs. This can include fixing a leaky faucet, replacing
appliances, or remodeling.
Plan A Budget
Before you complete the process for a mortgage loan, plan out
your monthly budget. List out your current expenses for food,
clothing, and other regular bills. Next, decide on an amount to
pay for the home, which include both the mortgage payment and
home repair expenses. Most experts recommend paying no more
than a third of your gross monthly income to home expenses.
One factor to consider is that your mortgage payment will not
go up, but more than likely your income will. So through the
years, your mortgage will take a smaller percent of your
monthly income. However, you don't want to place yourself in
too tight of a financial situation by planning on yearly
raises.
Get A Pre-approved Mortgage
Another way to find how much you can afford is to apply for a
pre-approved mortgage. The mortgage lender will approve you for
a maximum amount, but you can borrow less than this. While you
are going through the mortgage loan process, ask how much the
monthly mortgage payment will be.
Shop Prices
When you do start looking at homes, ask about taxes. This often
overlooked area makes a significant impact on your budget. Also,
expect taxes to increase as the value of your home rises.
About The Author: Carrie Reeder is the owner of
http://www.abcloanguide.com, an informational website about
various types of loans. To view our list of recommended bad
credit mortgage lenders online, visit this page:
http://www.abcloanguide.com/lessthanperfectcredit.shtml
credit wrestle with. The answer is simply as much as you can
afford. This is probably less than what you will qualify to
borrow from a mortgage lender. To determine what you can
afford, factor the mortgage payment and other home costs into
your budget.
Cost Of A Mortgage
Your mortgage payment is not just the loan payment; it also
includes real estate taxes, homeowner's insurance, and private
mortgage insurance premium if you borrow more than 80% of the
home's value. These three items often add several hundred
dollars to your monthly payment.
Cost Of A Home
Unlike renting, you will be responsible for utility payments
for your home. Home utilities are usually higher than an
apartment since you have more area to heat and usually a lawn
to water. You will also need to plan on making unexpected home
repairs. This can include fixing a leaky faucet, replacing
appliances, or remodeling.
Plan A Budget
Before you complete the process for a mortgage loan, plan out
your monthly budget. List out your current expenses for food,
clothing, and other regular bills. Next, decide on an amount to
pay for the home, which include both the mortgage payment and
home repair expenses. Most experts recommend paying no more
than a third of your gross monthly income to home expenses.
One factor to consider is that your mortgage payment will not
go up, but more than likely your income will. So through the
years, your mortgage will take a smaller percent of your
monthly income. However, you don't want to place yourself in
too tight of a financial situation by planning on yearly
raises.
Get A Pre-approved Mortgage
Another way to find how much you can afford is to apply for a
pre-approved mortgage. The mortgage lender will approve you for
a maximum amount, but you can borrow less than this. While you
are going through the mortgage loan process, ask how much the
monthly mortgage payment will be.
Shop Prices
When you do start looking at homes, ask about taxes. This often
overlooked area makes a significant impact on your budget. Also,
expect taxes to increase as the value of your home rises.
About The Author: Carrie Reeder is the owner of
http://www.abcloanguide.com, an informational website about
various types of loans. To view our list of recommended bad
credit mortgage lenders online, visit this page:
http://www.abcloanguide.com/lessthanperfectcredit.shtml
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