Protecting Your Identity Yourself

Identity theft can affect victims for years after the theft has occurred. Identity theft-related errors can cause people to be turned down for credit cards or loans, or even be harassed by collectors. Because of the difficulty of recovering from compromised information and theft, many may be tempted to purchase identity protection. Identity protection companies often have flashing commercials that promise worry-free, hands-off monitoring of personal information, but these companies cannot always deliver on these promises. Even those who subscribe to such services may still have problems with others using their information to gain driver’s licenses, medical treatment, or employment. Also, the personal information possessed by the protection services is still vulnerable to hackers. There are ways to guard your identity without spending the on these less-than-perfect services.

To take charge of your identity protection, try to follow these suggestions:

•  Practice mail security: Be aware of anyone hanging around the neighborhood mailboxes, put a stop on mail delivery while away on vacation, and be selective about who knows your mailing address.

•   Stop prescreened credit and insurance mailings [(888) 567-8688 or (888) 5-OPT-OUT]

• Lock up sensitive information and discard old documents (old bills, credit statements, etc.) by shredding them.

• Read all your bank and credit statements so you can quickly catch any problems.

• Regularly check your credit reports for free through the three reputable credit bureaus.  

• Protect your social security number. Do not put it on any form unless it is absolutely necessary and relative information (such as forms for banking and employment).

Lesser-Known College Aid

This past month, T. Rowe Price released their annual Parents, Kids & Money Survey. The survey found that, while most parents discuss college with their children, much fewer discuss how college expenses will be paid. Most parents are not sure they will be able to cover such costs. Therefore, students must be proactive and find other ways to fund their education. The ideal option is to pursue scholarships, but many students may feel that scholarships and grants are out of their reach. For example, some students may not qualify for enough federal aid to make attending college affordable. Others may not have the grades necessary to earn academic scholarships or grants. However, teens should not be discouraged. There are many scholarships and other forms of college aid that award funds based upon unique circumstances and characteristics. Not widely known, these options are easily overlooked, but can provide those who qualify the opportunity to pursue their goals.

The First Scholar Program, University of Kentucky: Are you the first person in your family to attend college?  If so, the First Scholar program may provide you additional funds for your first year at UK. This scholarship program seeks graduating high school seniors who will be first-generation college students (meaning neither parent has attended college). The award is $5,000 for the first year of college as long as you meet the requirements. For more information, please visit: http://www.uky.edu/UGE/FirstScholars/.

Berea College’s Tuition Scholarship: Kentucky is fortunate to be home to a unique higher education institution that offers free tuition to ALL students they admit. Berea College provides all of its students full-tuition scholarships for all four years of attendance. While other costs and fees, such as housing, must be paid for by the student, this scholarship offers a savings of about $100,000. What’s more, Berea is one of the best private colleges in the country. For more information, please visit: http://www.berea.edu/admissions/financial-aid-scholarships/bereas-tuition-scholarship/.

Waiver of tuition and fees for fostered/adopted children: In the state of Kentucky, fostered or adopted children have their college tuition and mandatory fees waived by law. Any state-recognized fostered or adopted child can attend any Kentucky public two-year or four-year higher education institution without these significant expenses, as long as they meet all requirements and are academically eligible for admission. For more information, please visit: http://www.lrc.ky.gov/krs/164-00/2847.PDF.

For a list of other Kentucky scholarships that you may qualify for, please visit: http://www.jefferson.k12.ky.us/schools/high/Iroquois/KYScholarships.pdf.

READERS, what do you think?

Are there any other great scholarships, grants, or other such opportunities worth mentioning?

References:

T. Rowe Price. (2013, March). 5th Annual Parents, Kids & Money Survey: Detailed Results. Retrieved from http://media.moneyconfidentkids.com/wp-content/uploads/2013/03/PKM-Survey-Results-Report-FINAL-0326.pdf.

Count Your KEES Money. You May Be Earning It Already!

The Kentucky Educational Excellence Scholarship (KEES) is a program managed by the Kentucky Higher Education Assistance Authority (KHEAA). How does KEES work? Kentucky high school students earn KEES scholarships if they make at least a 2.5 GPA each year. The higher the GPA, the more money the student earns for higher education. Additional scholarship money is given for scores of 15 and above on the ACT and scores of 710 (math/verbal) and above on the SAT. For free/reduced lunch students, AP exams and IB tests earn you KEES money as well.

As you can see, there are many ways to earn KEES money, and this money can accumulate into a significant scholarship. For example, if you have a GPA of 3.6 each year of high school, you will earn $400 per year of college. Then, if you get a 21 on the ACT, that is an extra $250 for each year. Don’t forget that AP exam! If you qualify for free or reduced lunches, your score of 3 will earn you another $200 per year. Already that is $850 for each year of college. So, if you attend a four-year degree program, you will have a total KEES scholarship of $3400!

The best part about the KEES scholarship (aside from the free money) is that no application is necessary. Kentucky students who meet the requirements automatically begin earning KEES money their freshman year in high school. To find out more about the requirements, visit the KHEAA Web site at https://www.kheaa.com/website/kheaa/home. To check how much money you have earned so far, go to https://www.kheaa.com/apps/registration/register-new. Register as a student and sign in to your KEES account. Soon you will realize how much money you can earn for higher education just by getting good grades in high school!

READERS, what do you think?

How much KEES money could you earn for higher education? And are there other sources of scholarship money you could add to your KEES scholarship to help pay for education?

Reference:

Kentucky Higher Education Assistance Authority. (2013). Kentucky Educational Excellence Scholarship (KEES). Retrieved from https://www.kheaa.com/website/kheaa/kees?main=1.