option: full-time student, part-time dealer
May 25, 2010 5:19 PM   Subscribe

How do I finance my education when my university of choice isn't approved by the US Department of Education? How do I take on loans for this venture while causing myself the least financial damage?

Relevant information: I'm an American student, headed for Maastricht University in the Netherlands. The cost, including tuition, rent, utilities, and money for rice and beans, is about $15,000 per year for three years. Though I've diligently searched for scholarships at every turn, matters are complicated because a ridiculous amount of scholarships limit their pool of applicants to students headed for US institutions and/or high school seniors currently as seniors in American high schools.

Barring the sudden downpour of money from the heavens, do you MeFites have any advice regarding the loans that I will inevitably have to take on or any other options that I might be missing here?
posted by anonymous to Education (4 answers total) 1 user marked this as a favorite
 
I suppose this is besides the point, but are you sure you want to spend that kind of money to go to college in the Netherlands? I completed some of my education in the US and some in Europe, and while I really enjoyed both of those experiences, I wouldn't give up the US undergrad experience, which is certainly unique. Do you have cheap/free options available in the US that you're considering?
posted by iamscott at 5:44 PM on May 25, 2010


Either you're independantly wealthy, or you don't.

That aside - do you expect any useful answers with this limited amount of information? All we know about you is
a) you're american
b) you're going to Maastricht
c) presumably you are not currently a high school senior in America

That's a pretty broad brush. Are you interested in scholarships aimed at mature age students? Art students? Current high school juniors? Current kindergarten kids?
posted by jacalata at 6:33 PM on May 25, 2010


Assuming you're going for a bachelor's, tuition for non-EU/EEA students is €8,500, or $10,435USD, according to today's exchange rates. According to Maastricht's estimates, your minimum monthly expenses would be around €853, or $1047.

$10,435 Tuition
$12,564 Living Expenses
--------------------------------
$22,999 per year

So, for a three-year degree, you're looking at borrowing $68,997. This doesn't include anything extra like a cell phone. Or trips home to the States. Or any kind of extracurricular fun while you're in Europe. Or beers with classmates. Etc, etc.

Barring the sudden downpour of money from the heavens, do you MeFites have any advice regarding the loans that I will inevitably have to take on or any other options that I might be missing here?

Yes, but it probably doesn't end with you going to this school. Like jacalata already said, we don't really have enough information from you to go on, but it sounds like you already know what the answer is here.
posted by futureisunwritten at 7:07 PM on May 25, 2010


Have you considered enrolling in a US institution that has an exchange program with Maastricht?
posted by pickypicky at 8:12 PM on May 25, 2010 [3 favorites]


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