• Welcome to The Student Loan Debt Forum | The College Investor. Please login or sign up.
 

How to calculate future loan eligibility?

Started by a_black, September 18, 2017, 04:43:23 am

Previous topic - Next topic

a_black

Hello,

I am a American expat looking to attend University in Europe next term.  I'm having trouble determining my future loan eligibility because I currently have some savings.

I'm 35 and have about $30,000 in savings, but by the time I get situated and start the program it will be closer to $20,000. While that will take me through the first year, after that I will be broke.

Is there any way I can find out what my future loan amounts will be once my savings are depleted? I'm assuming that if I fill out a FAFSA and declare $30,000 in savings, I probably won't be eligible for very much...

TheCollegeInvestor

Your savings won't have any impact on your student loan award. Sounds like you're an independent student, which you can look up the loan maximums here: https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized#how-much

However, since you're studying abroad, there are other things you need to consider here: https://studentaid.ed.gov/sa/prepare-for-college/choosing-schools/types/international