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If you are having trouble paying a bill, contact the company immediately to work out a payment plan. Whatever you do, do not ignore letters and calls from your creditors, according to the Kentucky Higher Education Assistance Authority (KHEAA).

It is best to explain everything in a letter so you have a written record. Before writing the letter, look at your finances to come up with a payment amount you can handle. That lets your creditor know you still plan to pay what you owe and will pay as much as possible during your financial crunch.

Most companies will work with you if you are up front about your difficulties. Ask if your creditor will waive any penalties and will extend your payment period if you are temporarily in a tight money situation.

KHEAA is the state agency that administers Kentucky’s grant and scholarship programs, including the Kentucky Educational Excellence Scholarship (KEES). It provides financial literacy videos at KHEAA also provides free copies of “It’s Money, Baby,” a guide to financial literacy, to Kentucky schools and residents upon request at

To learn how to plan and prepare for higher education, go to For more information about Kentucky scholarships and grants, visit; write KHEAA, P.O. Box 798, Frankfort, KY 40602; or call 800-928-8926, ext. 6-7372.




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