Kentucky Higher Education Assistance Authority Money Tips for Students

Once you start paying bills, you start building a credit score. If you have a history of paying bills late, it will be reported to credit rating agencies and affect the interest rate you pay on credit cards, car loans, apartment deposits and even your insurance. When you get a bill, pay it on time — every month.

A credit score is based on your payment history. Credit scores are used by lenders to help determine if applicants qualify for a credit card, loan, insurance or service. Most credit scores estimate the risk a company incurs by lending money or providing a person with a service — specifically, the likelihood that the person will make payments on time in the next two to three years. Generally, the higher your credit score, the less risk you represent.

Some people think you need a credit card to build a credit score. But if you open your utility accounts in your name instead of your parent’s name, you can work toward building a credit score in six months.

A late or missed payment stays on your credit report for seven years, even if the creditor has been paid in full. It is better to start off on the right foot by establishing checking and savings accounts, using your credit cards sparingly and paying all of your bills on time.

To learn how to plan and prepare for higher education, go to www.gotocollege.ky.gov. For more information about Kentucky scholarships and grants, visit www.kheaa.com; write KHEAA, P.O. Box 798, Frankfort, Ky. 40602-0798; or call (800) 928-8926, ext. 6-7372.

2010 Investment Education Expo  (PDF - 175 KB)

Free Student Financial Aid Info Available at State Fair

Kentuckians attending the State Fair in Louisville Aug. 19–29 may pick up free student financial aid information at the College Info Road Show booth in the South Wing of the Kentucky Exposition Center.

The College Info Road Show is a mobile classroom sponsored by the Kentucky Higher Education Assistance Authority (KHEAA). It travels the state promoting the importance of going to college and options for paying for higher education. 

KHEAA is the state agency that administers the Kentucky Educational Excellence Scholarship (KEES), need-based grants and other programs to help students pay their higher education expenses.

To learn how to plan and prepare for higher education, go to www.gotocollege.ky.gov. For more information about Kentucky scholarships and grants, visit www.kheaa.com; write KHEAA, P.O. Box 798, Frankfort, Ky. 40602-0798; or call (800) 928-8926, ext. 6-7372.

Kentucky Adult Education Offers Assistance with Getting a Better Job and Preparing for College

Kentucky Adult Education wants to help Kentuckians become college and career ready. With a better education, you can go to college, compete for higher-paying jobs, better support your family and help your children succeed in school.

Adult education services include all levels of instruction in reading, writing, math, science, social studies, GED® and college preparation, English as a Second Language, family literacy and work readiness skills. All services are free and convenient for eligible Kentuckians. There is an adult education center in every county or you can study anytime, anywhere by using our online learning tools found at www.kyvae.org.

There are many benefits to earning a GED diploma. GED graduates can earn $9,000 more a year than those without a GED credential or high school diploma. Continuing your education is important in today’s economy. In 2002, the share of jobs requiring at least some formal postsecondary education or training was already 74 percent. It is estimated that by 2013, 90 percent of the fastest-growing jobs, 60 percent of all new jobs and 40 percent of manufacturing jobs will require some form of postsecondary education.

For more information about Kentucky Adult Education, please call (502) 573-5114 or visit www.kyae.ky.gov.

Unclaimed Funds for Appliance Rebates up for Grabs
Nearly $1.7 million will be given on first-come, first-serve basis

At the GE Appliance Park, Kentucky First Lady Jane Beshear announced that nearly $1.7 million in unclaimed funds remain in the Kentucky Energy Efficient Appliance Rebate Program. During phase one of the program, residents could ‘reserve’ rebates. Nearly half of Kentuckians who reserved a rebate have not purchased an appliance, making those unclaimed funds now available. Kentuckians are encouraged to quickly get in line for the unclaimed rebate funds, which will be given on a first-come, first-serve basis.

Residents may apply for a rebate by visiting www.KYappliancerebates.com or by calling the toll-free number 877-813-3669.

“The bank of $1.7 million in unclaimed funds is the perfect opportunity for Kentucky residents to capitalize on an effective, energy and money-saving program,” said Mrs. Beshear. “These funds won’t last long, so I encourage those who need to replace old, inefficient appliances to upgrade to ENERGY STAR models and take advantage of the rebate program while the money is still available.”

Under the program, Kentucky residents who buy an eligible ENERGY STAR replacement appliance from a Kentucky retailer may be eligible for a rebate. Kentucky is offering rebates on 16 ENERGY STAR-qualified appliances, including clothes washers, dishwashers, refrigerators, freezers, room air conditioners, water heaters, central air conditioners, air source heat pumps, geothermal heat pumps, gas furnaces and gas boilers. This provides residents with the widest choices possible and represents appliances that account for 70 percent of typical household energy costs.

The purchase must replace an older, less efficient product with a qualified ENERGY STAR appliance purchased in Kentucky. Consumers purchasing a new ENERGY STAR replacement appliance and requesting a rebate are strongly encouraged to recycle their old appliance.

The program is funded by the Kentucky Department for Energy Development and Independence (DEDI) through the U.S. Department of Energy. The rebates are funded by the American Recovery and Reinvestment Act, the goal of which is to stimulate job growth and reduce energy costs.

Consumers may only receive one rebate per product category. A rebate fulfillment company, under contract with the state, is reviewing all rebate requests for eligibility and is monitoring the program to ensure fraud prevention.

Appliances with an ENERGY STAR label have met strict energy efficiency guidelines set jointly by the U.S. Department of Energy and the U.S. Environmental Protection Agency. These guidelines are designed to help consumers save money and to protect the environment. Further information and frequently asked questions may be found at http://www.energy.ky.gov/recovery/rebate/.

The Energy Efficient Appliance Rebate Program is designed to help achieve the goals of Gov. Steve Beshear’s Intelligent Energy Choices for Kentucky’s Future:  Kentucky’s 7-Point Energy Strategy, and will be part of the effort to meet 18 percent of Kentucky’s energy needs from efficiency improvements by 2025.