| How to Reduce Finance Charges on a Car Loan Posted: 24 May 2016 05:00 PM PDT Finance charges applied to a car loan are the actual charges for the cost of borrowing the money needed to purchase your car. The finance charge that is associated with your car loan is directly contingent upon 3 variables: loan amount, interest rate, and loan term. Modifying any or all of these variables will change the amount of finance charges you will pay for the loan.[1] There are a number of ways to reduce finance charges on a loan, and the method you choose will be contingent upon whether you already have a loan or are taking out a new loan. Knowing your options can help you save money and pay off your vehicle faster. EditReducing Finance Charges for a New Loan - Learn your credit score. Automobile loans are largely determined by the borrower's credit score; the better the borrower's credit score is, the lower his interest rate will likely be.[2] Knowing your credit score before you apply for an automobile loan can help ensure that you get the best possible loan terms. You can obtain a free copy of your credit report (one free copy is guaranteed every 12 months) by visiting AnnualCreditReport.com or by calling 1-877-322-8228.[3]
- Your credit report won't explicitly contain your credit score, but it will contain information that determines your credit score. Because of this, it's tremendously important to review all of the information contained in your credit report and understand what determines your credit score to ensure that there are no errors.
- If your credit score is low, you may need to improve your credit score. Improving your credit score will likely get you much better terms on your loan. If you can hold off on purchasing your vehicle until you've repaired your credit, it may be worth waiting.[4]
- Consider contacting a credit counseling organization to help you rebuild your credit. A credit counselor can work with you to build and stick to a budget, and can even help you manage your income and your debts. You can find a credit counseling organization near you by searching online - just be clear on the terms and fees of the services offered before signing up with a credit counselor.[5]
- Shop around for your loan. Most dealerships offer automobile loans at the dealership, which can make it convenient for buyers. However, the dealership may not be offering the best available loan. Many automobile dealers arrange loans by acting as a "middle man" between you and a bank, which means that the dealer may charge you extra to compensate for his services.[6] Even if the dealership's fees aren't unreasonable, it's likely that the dealer will then sell your contract to a bank, credit union, or finance company, and you may end up making payments to that third party.[7] Even if you end up going with the dealer's financing option, it's worth shopping around for a better loan from a local bank or credit union.
- Don't take out a small loan. Every loan term is different, depending on factors like your credit score and the amount you're requesting to borrow. Smaller loans typically have very high monthly finance charges, because the bank makes money off of these charges and they know that a smaller loan will be paid off more quickly.[8] If you intend to take out an auto loan for only a few thousand dollars, it may be worth saving up until you have the difference that you'll need to purchase an automobile, or purchasing an automobile that fits in your desired price range.[9]
- Get a pre-approved loan before you buy a car. Pre-approved loans are arranged in advance with a bank or financial institution. This may be helpful, as many people feel pressured to go with the loan options that a dealer offers at the car lot, and end up getting a loan with high finance charges. If you get a pre-approved loan beforehand, you'll know exactly how much you can afford to spend on an automobile, which will also help you stay within your budget.[10]
- Consider leasing instead of buying. Leasing a vehicle allows you to use your vehicle for an arranged duration of time and a predetermined number of miles. You won't own your car, but lease payments are typically lower than what the monthly payments on a loan would be for the exact same vehicle.[11] Some lease terms also give you the option of purchasing your vehicle at the end of the leasing period. Before you decide to lease, it may be helpful to consider:
- the lease costs at the beginning, middle, and end of the leasing period[12]
- what leasing offers and terms are available to you[13]
- how long you want to keep the automobile[14]
EditRefinancing an Existing Loan - Contact your lender. You can apply to refinance your automobile loan with the lender from the original loan, or you can switch to a new lender. Lenders who allow refinancing will replace your existing loan with a new loan, typically offering lower monthly finance charges.[15] Not every lender will allow borrowers to refinance a loan, so it may be worth comparing your options to determine which lender to go with, or whether you're eligible to refinance at all.[16]
- Gather the necessary information. As part of the refinancing application process, you'll need some basic information to provide the lender. Before you apply to refinance your loan, you'll need to have ready:
- your current interest rate[17]
- how much money is still owed on the existing loan[18]
- how many months remain in the existing loan's terms[19]
- the make, model, and current odometer reading of your vehicle[20]
- the current value of your vehicle[21]
- your current income and employment history[22]
- your current credit score[23]
- Compare refinance loan options. If you are eligible for an automobile loan refinance with your existing lender, you may be eligible for a better loan through a different lending institution. It's worth comparing your refinance loan options to get the best available loan terms.[24] When you search around and compare refinance options, it's worth considering:
- the loan rate[25]
- the duration of the loan[26]
- whether there are pre-payment penalties or late payment penalties[27]
- any fees or finance charges[28]
- what (if any) the conditions for automobile repossession are with a given lender[29]
EditPre-paying an Existing Loan - Learn whether you're able to pre-pay your loan. If refinancing isn't an option, you may be eligible for pre-paying your loan. Pre-payment, also called early loan payoff, simply means that you pay off your debt before the agreed-upon end date of an existing loan.[30] The benefit of pre-paying your loan is that you're not subjected to the monthly finance charges you would otherwise be paying on your loan, but for that reason many lenders charge a pre-payment penalty or fee.[31] The terms of your existing loan should specify whether there is any pre-payment or early loan payoff penalty, but if you're unsure you can always consult with your lender.
- Learn the pre-payment process for your lender. If your lender permits you to make pre-payments on your loan, there may be a special process for making those payments. These payments are sometimes referred to as principal-only payments, and it's important to specify to your lender that you intend for that payment to be applied to the principal loan, not the finance charges for upcoming months. Each lender's process may be different, so it's best to call or email the lender's customer service department and ask what you need to do to make a principal-only payment towards your loan.[32]
- Calculate your early loan payoff amount. There are many early loan payoff "calculators" available online, but all of them factor in the same basic information to determine how much you will need to pay in order to payoff your loan early:
- the total number of months in your existing loan term[33]
- the number of months remaining on your existing loan[34]
- the amount your existing loan was for[35]
- the monthly payments remaining on your loan[36]
- the current annual interest rate (APR) on your existing loan[37]
- Reducing the finance charges by reducing the term of the loan will lower the finance charges overall but it will also increase your monthly payment, since you have less time to repay the loan.
- Consider working with a credit counseling organization if you're having trouble sticking with your budget or paying off your loans.
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| How to Get a Fulbright Scholarship Posted: 24 May 2016 09:00 AM PDT The Fulbright Program is the United States' flagship international educational exchange program. The program was founded in 1946 in the wake of a proposal by Arkansas senator J. William Fulbright to use surplus war property to fund "promotion of international good will through the exchange of students in the fields of education, culture, and science." Fulbright fellowships now fund study and educational exchanges in over 155 countries.[1] A diverse assortment of fellowship programs currently fund about 8,000 grants annually to 1,600 U.S. students, 4,000 foreign students, 1,200 U.S. scholars, and 900 visiting scholars, in addition to several hundred teachers and professionals.[2] Fulbright Program fellowships are highly competitive, but with adequate preparation and effort you can make yourself a highly attractive candidate. EditChoosing a Fellowship Program - Understand your options. The Fulbright Program awards fellowships in a wide variety of fields and to a wide variety of populations. First, determine whether you'll be applying as a Fulbright "student" to the U.S. Fulbright Student Program[3] or as a Fulbright "scholar" to the range of programs administered by the Council for International Exchange of Scholars.[4][5] You can then review program options to determine which fellowship matches your goals and interests.
- Consider the United States Fulbright Student Program if you are a student or a young professional. This collection of programs is intended for college seniors, recent bachelor's degree graduates, master's and doctoral students, and young professionals with five or fewer years of experience.[6] The U.S. Fulbright Student Program includes the following collection of fellowship opportunities:
 - The Fulbright Study/Research Grant is the most typical student opportunity. Candidates design a research proposal for a specific country.
- The Fulbright English Teaching Assistant Program places grantees in schools overseas to supplement local English instruction and share their expertise as native speakers.
- The J. William Fulbright-Hillary Rodham Clinton Fellowship selects fellows to serve in professional public-policy related roles in foreign government ministries or institutions. Grantees also undertake an academic research project.
- The Fulbright mtvU Awards are granted for research into an aspect of international musical culture, focusing especially upon contemporary or popular music as a form of cultural expression.
- The Fulbright-National Geographic Digital Storytelling Fellowship guides grantees in using new media platforms to build ties across cultures and enhance mutual understanding. Grantees work with National Geographic Society mentors.
- Fulbright Business Grants are available for study in Finland, Mexico, and Spain.
- Fulbright-Fogarty Fellowships are intended to promote the expansion of research in public health and clinical research in resource-limited environments.
- Fulbright Graduate Degree Grants are available for study in specific fields in Australia, Finland, Iceland, Ireland, Italy, Mexico, the Netherlands, South Korea, Spain, Taiwan, and the United Kingdom.
- Fulbright Journalism and Communication Grants are available for study in Germany, Ireland, Spain, and Taiwan.
- Fulbright Grants in Science and Public Health are available for study in countries including Canada, Indonesia, and the Netherlands.[7]
- Consider Fulbright Scholar Programs if you are an established American or international scholar. The Fulbright Scholar Programs administered by the Council for International Exchange of Scholars tend to be more specifically targeted than those of the U.S. Student Program, so conducting a search on the institution's Web site is the best way to find programs geared specifically toward your expertise and interests. Broadly speaking, these programs fall into several categories:
- U.S. Scholars can apply to Core Fulbright U.S. Scholar Programs, the NEXUS Regional Scholar Program, Distinguished Chair Awards, Specialist Programs, the International Education Administrators Program, the Fulbright-Fogarty Postdoctoral Awards Program, the Fulbright Arctic Initiative, Postdoctoral Scholar Awards, and the Global Flex Award.
- International scholars seeking to visit the U.S. can apply for the NEXUS Regional Scholar Program, the Core Fulbright Visiting Scholar Program, the Outreach Lecturing Fund, Visiting Scholar Enrichment Programs, and the Fulbright Arctic Initiative.
- The stable of Fulbright programs also includes a collection of programs geared toward institutions rather than individuals. These include the Outreach Lecturing Fund, the Fulbright Scholar-in-Residence Program, and Junior Faculty Development Programs for Afghanistan, Egypt, Iraq, Lebanon, and Tunisia.[8]
- Consider your passions. You're most likely to be successful in your application if you're genuinely thrilled about the project you'll be undertaking.
- Which region(s) of the world do you find especially engaging or inspiring?
- What moves you?
- How do your educational background and research interests intersect with the previous two questions?
- Picture yourself in-country. What would you like to be spending your time doing?[9] Careful consideration of this question will help you determine what type of fellowship is right for you.
- Evaluate possible programs. Research statistics from previous years to get an idea of how competitive various programs might be. Don't let pragmatism overrule your passion, but if you're seriously considering three countries, for example, you might evaluate how much competition you'll be facing in each country. You could then narrow your focus to the country where you'll suspect you'll have the strongest chance of winning an award.[10]
- Assess your eligibility. U.S. Student Program applicants, for example, must be U.S. citizens at the time of their application. They must also have completed a bachelor's degree or equivalent by the time their grant begins.[11] Eligibility requirements differ for other awards. Carefully review the eligibility requirements for your chosen program before proceeding.
EditBecoming a Strong Candidate - Devote yourself to your studies. Successful Fulbright candidates come from a wide variety of sociocultural and educational backgrounds. You need not attend an elite institution -- in fact, one of the many goals of the Fulbright program is to ensure candidates come from a wide array of institutions and geographic regions.[12] Demonstrating your dedication as a scholar, however, is vital.
- If you are a student, take challenging classes in the field you intend to pursue.
- If you are a professional, maintain active involvement in your field of research interest.
- If you anticipate applying as a teaching fellow, ensure your record demonstrates your enthusiasm for cross-cultural education.
- Learn the language of the region you hope to visit. Language proficiency is vital to a successful Fulbright application. Critical Language Enhancement Awards are available to U.S. students pursuing fellowships in a few host countries,[13] but in most cases your Fulbright application will require you to demonstrate you have the necessary language skills to successfully complete the project you're proposing.[14]
- Prepare academically for your project proposal. Pay special attention to coursework or research that will help you deepen your understanding of the subject you hope to research. Undergraduates should consider taking at least one course during spring semester of their junior year or fall semester of their senior year that specifically relates to their project interests.[15] If you hope to research maternal health policy in India, for example, you might consider taking a sociology course focused upon South Asia, a development economics class, or an Indian history course -- or possibly, all three.
EditCrafting a Strong Application - Determine your timeline. The online application period for most U.S. Student Program awards begins in mid-spring and ends in mid-fall, although the mtvU Awards schedule runs a little later. The National Screening Committee meets in November and December, and candidates are notified by the end of January whether they've been recommended for final consideration. Notification of awards begins in March and continues through the spring. Actual grant dates typically conform to the academic calendar of the country you will be visiting.[16] Application deadlines vary for other Fulbright Program awards, so be sure to consult the specific timeline for the grant you're pursuing.
- Start early. Most Fulbright applications involve extensive essay-writing and subsequent editing. Plan to spend about as much time on your application as you would on a standard college course.
- The Fulbright Study/Research Grants that form the core of the U.S. Student Program require you to find an in-country mentor with whom you'll work. This can be a lengthy process, so plan to start your search as soon as you've determined your geographic area and your general research topic.
- Address each element of your application carefully. Application requirements differ depending upon your specific program. Be sure you understand what the Fulbright Program is looking for in terms of length, content, and components. To apply for the U.S. Student Program's Study/Research Grants, for example, you'll need to submit the following information via the Embark Fulbright Online Application:
 - Biographical data and a project title.
- A Statement of Purpose outlining the who, what, when, where, why, and how of your grant proposal. Familiarize yourself with your chosen country's program summary to ensure your proposal is relevant. Length requirements for this statement are quite specific: two pages, single-spaced, in Times New Roman font, with one-inch margins. You can access samples of winning statements from Brown University.[17]
- An affiliation letter from the institution or individual in the host country with whom you plan to work. This letter should be written in (or translated to) English, on official letterhead, and signed by the author. Emailed correspondence is not acceptable.
- A Personal Statement introducing yourself to the selection committee and explaining how your background has led you to this point in your academic journey. Again, length requirements are specific: one page, single-spaced, in Times New Roman font, with one-inch margins.
- Foreign language forms -- if a language is among the requirements for an application to your chosen country. If needed, you'll submit a Language Self Evaluation and a Foreign Language Evaluation Form. The latter is completed by a professional language instructor.
- Three reference letters. These letters should be professional rather than simply character references. Provide your referees with a copy of your Statement of Purpose so they are prepared to speak to your fitness to undertake this specific project. If not originally composed in English, a translation must be provided. Reference letters are uploaded directly by the referees so they remain confidential. This means you will not personally be able to provide any needed translations.
- Transcripts from all institutions of higher education that you have attended.[18]
- Focus your Statement of Purpose. The Statement of Purpose does exactly what its name suggests: it tells the committee what your purpose is in pursuing a Fulbright scholarship. A solid SoP has four sections:[19]
 - The thesis paragraph. This paragraph explains where and what you wish to study, along with your methodology (how) and your objectives (why). Think of this as a "preview" for your larger project: what do readers need to know to get a clear, general sense of your goal?
- Background and contextual information. This is similar to a literature review in a research essay, but much shorter. You need to give the sense that you know how your project fits into the larger field in which you wish to study. You should also present a compelling case for why your project is important and deserves study -- consider it the answer to the "So what?" question.
- Methodology. This provides the specific nitty-gritty on how you will conduct your project. What will you do? How will you measure it? What is your timeline? How will you know whether you have succeeded in your aims? What will you take away from this project, and why will it be valuable? Even if you are applying as a creative student or scholar, you should have a clear idea of the "takeaway."
- Defense. This is where you can address potential trouble sources or questions your reviewers might have. What issues might arise during your study? Will you be able to access the resources you need? What will you do if you run into problems? How flexible is your approach? This is where you target your weak spots and provide a sense of how you will address them.
- Make your Personal Statement compelling. Remember that your audience is a group of intelligent, well-read non-specialists who will be reading hundreds, if not thousands, of statements. Your Personal Statement should be a biography that tells reviewers who you are and why you're a good candidate for a Fulbright. Set yourself apart by doing the following:[20]
- Use concrete examples rather than generalities. Do not say "I enjoy interacting with people from other cultures." Instead, say "I actively seek out cultural experiences different from my own, such as going to Diwali celebrations with my friend Kavya and learning how to make authentic Chinese dumplings from my friend Shao." If you have study abroad or travel experience, talk about it. However, be wary of discussing high school mission trips, which have an unfortunate reputation as "charity tourism" among many reviewers.
- Do not focus on religious experiences or themes. While these may or may not be important to you, the Fulbright Commission is a government agency and thus cannot use religious information in their decision-making process.
- Illustrate leadership experience. Emphasize qualities and experiences that show you are self-motivated, flexible, and capable of leadership.
- Explain how this experience will prepare you for graduate school and your future career.
- Use clear, effective language. Don't bog down your writing with SAT words to sound smart or use unexplained jargon. Most Fulbright review panels have reviewers from a variety of fields, so you can't count on having only scientists read your science proposal, or only musicians read your music proposal. Make sure that you communicate clearly enough that a well-read non-specialist understands your goals.[21]
- Avoid overly complicated sentence structures. Use the free Hemingway app if you know you have a tendency toward verbosity.
- Be declarative and assertive. Do not say things like "I will attempt to examine..." or "I hope to find...." Instead, say "I will study..." or "I expect to find..."
- Avoid the cliche. Don't use statements such as "I have known since I was 6 that I wanted to be a scientist." Many applicants will use such statements, and they will not distinguish you. If you have the space, use a meaningful example or anecdote to explain your passion instead.
- Edit, edit, and edit some more. Don't become discouraged by the application-writing process; it will take time for your application to evolve into its final form. Make a list of the experiences you've had that might relate to the grant you're applying for. Be sure to address why you need to go where you're proposing to go.[22]
- If you are a student, attend any fellowship-writing workshops your college might offer. Paying a visit to your college scholarship office is also a good idea.[23]
- Don't be shy about asking for help. Consult colleagues, professors, and friends for editing feedback and guidance on refining your project proposal.[24] Outside readers are especially helpful in letting you know whether you have clearly explained your project and its aims.
- Many universities post examples of successful Fulbright fellowship essays for student reference. Perform a quick Web search and spend some time reading essays written by successful candidates. Pay special attention to projects or geographic regions that are relevant to your own project proposal.
- Remember the Fulbright Program's central aims. A successful proposal will clearly demonstrate how you'll advance the program's aim of "promoting mutual understanding among nations through engagement in the host community."[25] Highlight how your work will contribute to this goal.
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| How to Take Cod Liver Oil for Health Posted: 24 May 2016 01:00 AM PDT Cod liver oil is a dietary supplement that has been used since the 1700's.[1] Today it's commonly taken as a omega-3 fat supplement (specifically EPA and DHA). In addition, cod liver oil has fairly high levels of Vitamin A and Vitamin D.[2] People may take cod liver oil for a variety of reasons including: alleviating arthritis related pain and joint stiffness, prevention of coronary artery disease, promote or improve cognitive function, manage blood pressure and improve cholesterol and triglyceride levels.[3] However, as with any supplement, it's important to be well informed and understand exactly what you're taking when choosing a dietary supplement. EditChoosing an Appropriate Supplement - Read the labels. Carefully review concentrations of vitamins and other ingredients in all supplements. Buy only supplements that abide by recognized manufacturing standards. Search for a supplement that uses purified sources and can provide full detail about concentrations of mercury, heavy metals, and other potential contaminants.[4]
- Look for supplements that are endorsed or reviewed by the USP (US Pharmacopeial Convention) — this will be noted on the label. The USP ensures high quality standards for ingredients and manufacturing practices for supplement companies.[5]
- Also, examine the levels of Vitamins A and D to make sure that you will not be consuming higher levels of them than is advisable. Most adults should not exceed 10000 IU of Vitamin A and 5000 IU of Vitamin D each day.[6]
- Not all cod liver oil supplements are created equal. You may have to try several varieties before finding one that most appeals to you and meets quality standards
- Choose either a liquid or capsules. There is no nutritional difference between the two types of supplements. However, capsules can be slightly more expensive. Whether you take a capsule or a liquid version of cod liver oil is purely a decision of preference.
- Liquid supplements often have a noticeable fishy taste, which can often be avoided by taking a supplement in capsule form. Belching a fishy smell or taste is a common side effect of both supplement forms.
- Consider chilling your cod liver oil capsules or liquid if the taste is not pleasant.
- Read about possible side effects. Dietary supplements (including vitamins, minerals, protein and herbal supplements) are not approved by the FDA prior to marketing and distribution to the public.[7] It's important to be aware of how a supplement may make you feel.
- Common side effects of cod liver oil supplements include: belching, bad breath, heart burn and nose bleeds.[8]
- High or excessive doses may cause: increased chance of bleeding, disrupted blood clotting, nausea, loose stools, toxic levels of Vitamin A and D, and hypotension.[9]
EditIncorporating a Cod Liver Oil Supplement into Your Diet - Talk to your doctor. Although many supplements are most likely harmless, you can never be too sure. Supplements may interact with medications or health conditions you have. Speaking to your doctor before taking any type of supplement is a wise decision. Be sure to review:
- Why you want to take cod liver oil and how you think it may help or improve your health.
- All of your other medications and any other supplements you are taking. Some medications, like blood thinners or medications for high blood pressure, are enhanced by fish oil supplements.[10]
- Possible contraindications or instances where cod liver oil will be unsafe. Pregnant women or women who are nursing and those with certain bleeding conditions are typically not advised to take fish oil supplements, including cod liver oil.[11]
- Schedule an appointment with a dietitian. Speaking to a nutrition expert like a dietitian can help you to evaluate your diet and determine whether supplements are even necessary. Some people are able to get sufficient Vitamins A and D and healthy fatty acids from their diets.
- Ask for advice on what foods to add to your diet or how to incorporate cod liver oil into your diet.
- Choose an appropriate dosage. Most supplements are sold in a variety of dosages. It's important to find a supplement and dosage that's appropriate for you.
- In general, for lowering high blood pressure or triglycerides, consume 20 mL daily and to manage and lower high cholesterol, consume 30 mL daily.[12]
- It's best to start with a low dosage and slowly increase to make sure you do not have any adverse side effects.[13]
- Add cod liver oil to meals and snacks. If you're using the liquid version of this supplement, you'll need to find some creative ways to sneak it into your diet. Cod liver oil isn't the most pleasant tasting or smelling supplement.
- If opting to buy the liquid form, there are a variety of tips and tricks to get the dosage down. You can pinch your nose and take it like a shot of cough syrup, mix it in a smoothie or other favorite beverages, drizzle it over salads, or mix with a teaspoon of honey.
- Some cod liver oil supplements add a little flavoring like ginger or lemon to slightly mask the flavor and smell. These types of supplements might work well if you're sensitive to the taste.
- Always speak to a doctor prior to adding any type of supplements to your diet.
- As with any supplement, it is important to take cod liver oil according to the instructions. Make sure that you actually need the supplement and do not double your dosage unless instructed to do so by a health professional.
- If you are taking a liquid version of cod liver oil, consider a product with added natural flavors to mask the taste of fish oil. Avoid products with large amounts of added scents or flavors that are not natural, however, as this may make it difficult to tell if the oil has gone rancid.
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